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Message: Big North Starts Test Mining at Nuevo San Pedro Graphite Project
Vancouver, B.C., May 24, 2013 – Big North Graphite Corp. (“Big North” or the “Company”) (TSXV: NRT) announces that the Company has commenced a program of test mining/bulk sampling at the Nuevo San Pedro amorphous graphite project in Sonora, Mexico (the “Nuevo San Pedro Project”). The program is aimed at testing the existing active and inactive workings, as was recommended as the next phase of exploration at the Nuevo San Pedro Project in the Company’s recently released NI 43-101 technical report. The cost of this program is estimated at approximately $200,000.
The Nuevo San Pedro Project workings consist of a cross cut adit, then a drift along the graphite seam largely to the west. There is a shaft with three sub-levels established to the east. The main graphite seam varies in dip and pinches and swells along strike. There has been some stoping above the adit level, but there is only an estimated 20 metres to surface. Some underhand stoping has been completed below the adit level as well. On the adit level the vein dips at approximately 60 degrees.
Spiro Kletas, President & CEO of the Company stated: “We are pleased to have started the test mining phase of the proposed re-start of the Company’s Nuevo San Pedro amorphous graphite project in Sonora, Mexico. As previously stated, Big North’s goal is to become one of the first graphite focussed junior companies on the TSX Venture Exchange to capture some of the graphite market for our shareholders. This is a monumental step in that direction. Management and the Board believe that there is significant opportunity in amorphous graphite and we are working diligently towards being able to supply the market with amorphous graphite.”
Big North continues with the Company’s previously announced plan of buying amorphous graphite from local producers who do not have processing capability. Further, the Company is actively continuing the assembly of the processing facility that was previously announced in the Company’s news release of April 22, 2013.
Big North, through its Mexican subsidiary Grafito la Barranca SA de CV, holds a 100% interest in the Aki Wiki concession and has a 50/50 joint venture on the Nuevo San Pedro Project. Both concessions are located in the San Jose de Moradillas region, a region that has produced graphite for more than 145 years. San Jose de Moradillas is located approximately 45 kilometers southeast of the city of Hermosillo, Mexico.
Big North announces that following an evaluation of its Luciana Prospect Property located in Lebel-sur-Quevillon, Quebec (the “Luciana Prospect”), the Company has given notice to Golden Valley Mines Ltd. to terminate the Company’s option to acquire a 70% interest in the Luciana Prospect pursuant to a mining option agreement dated August 30, 2011 (the “Luciana Option Agreement”). Pursuant to the Luciana Option Agreement, the Company is required to leave the mining claims in good standing for a period of twelve months.
The Company intends to focus its resources on its Grafito La Barranca Properties in Sonora, Mexico.
R. Tim Henneberry, P.Geo. (BC) a consultant to the Company has reviewed and approved the technical disclosure in this news release.
About Big North Graphite Corp.
Big North is a graphite development and exploration company focused on select projects in Mexico and Canada. The Company recently acquired 3 past producing amorphous graphite mines in Sonora, Mexico and is working towards accelerating the restart of the Nuevo San Pedro amorphous graphite mine. Big North has recently completed two phases of the restart of the Nuevo San Pedro mine, which includes the delivery of equipment, clean up of access roads, installation of electricity and ventilation systems, receipt of permits to use dynamite to blast at the mine and the stabilization and repair of the existing workings.
Recently, the Company announced that it has started the assembly of a processing plant that will be used for stockpiling, crushing, screening, sizing and drying of graphite to the specifications of individual future customers. Further, the Company has commenced a strategy of buying unprocessed amorphous graphite from local miners who do not possess the ability to process or ship to end users. Big North plans to purchase graphite from local producers to supplement production from the Nuevo San Pedro project. The Company plans to process the purchased graphite to the specifications of future customers and re-sell the purchased graphite at market prices, capturing the difference in prices. Big North also owns high priority, large flake graphite exploration projects in Ontario and Quebec, Canada.
For further information please contact Spiro Kletas at (604) 629-8220.
ON BEHALF OF THE BOARD
(signed) “Spiro Kletas”
President and Chief Executive Officer
While Big North intends to re-start the Nuevo San Pedro mine, the Company has not established mineral resources and has not completed a valid mining study (as defined by NI 43-101) to support a production decision. Historically, a production decision under these circumstances results in much higher economic or technical risk. Furthermore, without a pre-feasibility or feasibility study and a graphite reserve, there can be no assurance that operations at Nuevo San Pedro will be profitable.
Neither the 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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
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