VANCOUVER, BRITISH COLUMBIA - (Jan. 13, 2010) – FIRST BAUXITE CORPORATION ("First Bauxite" or the "Company") (TSX VENTURE:FBX) is pleased to announce that the Company has obtained a secondary listing on the Frankfurt Stock Exchange and the Berlin Stock Exchange. The common shares of the Company commenced trading on the Second Quotation Board of the Frankfurt Stock Exchange and the Berlin Stock Exchange, respectively, in Germany on Friday, January 8, 2010 under the trading symbol "FBI".
Yannis Tsitos, the President of the Company stated, "We are very pleased to have obtained this secondary listing for the Company. Our Board Of Directors considers this secondary listing will further broaden the Company's shareholder base internationally and give First Bauxite Corporation additional avenues for future capital raising opportunities via the European market to support its longer-term growth strategies."
About First Bauxite Corporation
First Bauxite Corporation (TSX VENTURE:FBX) is a Canadian natural resources company engaged in the exploration and development of bauxite deposits, through resource discovery and mining within a niche industrial market. The company has its head-office in Vancouver and its current assets in Guyana, South America and is managed by experienced geoscientists and business development professionals with worldwide experience in the exploration and mining business across a number of mineral commodities. The mission of First Bauxite is to become a near term, medium size producer and supplier of high quality refractory grade calcined bauxite. First Bauxite controls a large land package in Guyana's historical coastal bauxite belt, including the Bonasika Mining License and the Waratilla Prospecting License, covering deposits which were drilled in 1940's-60's by ALCAN and which host near surface deposits of refractory grade bauxite. The Company has commissioned a Feasibility Study over the Bonasika Project to analyze the technical and economic parameters of an independent mining and processing operation and is currently drilling the Waratilla bauxite deposits to outline the resources and to upgrade the historical reserves to NI 43-101 compliance. First Bauxite has additional upside potential to the metallurgical bauxite business, through an option agreement with Rio Tinto Alcan, whereby Rio can earn up to 75% interest in the Company's exploration ground by expending up to US$58 million in stages. For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.
On behalf of The Board of Directors of First Bauxite Corporation
Ioannis (Yannis) Tsitos
President & Director
Hilbert N. Shields
CEO & Director
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
