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Focused on the exploration and development of one of the highest grade graphite deposits known in the world
Message: Mason Graphite Announces That the Jean-Noel-Tessier Industrial Park in
Baie-Comeau Has Been Selected as the Site for its Proposed Graphite Processing Plant
BAIE-COMEAU, QUEBEC--(Marketwired - June 18, 2015) - Mason Graphite Inc. ("Mason Graphite" or "the Company") (TSX VENTURE:LLG)(OTCQX:MGPHF), is pleased to announce that it has selected the site for its proposed graphite processing plant, thus achieving an important milestone in the development of its Lac Gueret graphite project located 300 kilometres north of Baie-Comeau, Quebec. The land acquisition is subject to various conditions including, among others, obtaining the requisite approvals and permits and the construction financing.
The Company has selected the Jean-Noël Tessier Industrial Park in Baie-Comeau for the location of the proposed processing plant, which is estimated to provide 50,000 tons of graphite concentrate per year. The site is governed by a Memorandum of Understanding ratified with Baie-Comeau Development Corporation (la Société d'expansion de Baie-Comeau) and the City of Baie-Comeau, which will provide Mason Graphite, among other benefits, a declining property tax credit over 5 years and a commitment of the City to conduct the work necessary to allow the plant to connect to the City's infrastructure. The site infrastructure is expected to include a processing plant, maintenance buildings, offices and a tailings pond. Management estimates that operations at the plant will require approximately 70 people, in addition to approximately 10 positions needed at the extraction site. Construction of the facilities is expected to take place in 2016.
The process employed to identify the site included a rigorous analysis by the Mason Graphite team, including environmental, social and economic considerations. Benoît Gascon, President and CEO of Mason Graphite, explains, "It is fundamental for Mason Graphite to install the processing plant in this region in order to maximize the profitability of the project. The three sites that were studied all met this first essential criterion. Then we considered the minimal impact on the environment and the emission of greenhouse gases, the proximity of suppliers and subcontractors, the potential pool of local labor, the proximity of emergency services and construction and operation costs. We are very pleased with the selected site."
"It is important to us to build a long-term relationship with the Manicouagan Region, and we are focused on basing our business decisions on criteria that will support a smooth implementation of the project in the community", adds Benoît Gascon. The distribution of jobs and contracts for the completion of construction, maintenance and operation will be made to maximize the use of local resources available both in Pessamit and in other communities in Manicouagan. This will be maintained for the entire operating life of the Lac Gueret project.
The Company has launched a new sister website for the communities surrounding the Lac Guéret project. Please visit www.projetlacgueret.com for more information.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com, or follow us on Twitter (@MasonGraphite) or Facebook (/MasonGraphite).
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
The Company has not made a production decision. A decision to proceed with production will be based on the results of a feasibility study demonstrating economic and technical viability. All references herein with respect to production assumes that the Company will complete a feasibility study and that the results of such feasibility study will be positive. The timing and results of such feasibility study are not guaranteed and no inference should be made in this regard.
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.
Luc Veilleux, CPA, CA
Executive Vice-President and CFO
+1 514 289 3582
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