Alabama Graphite Provides Corporate Update
January 20, 2015 (Source: Accesswire) — Alabama Graphite Corp. (“Alabama Graphite” or the “Company”) (TSX-V:ALP) (OTCQX:ABGPF) (FRANKFURT: 1AG.F) (WKN: A1J35M) (ISIN# CA0102931080) has been working over the last several months on a trenching program in Coosa County to evaluate the heart of prospective targets discovered by the airborne geophysical surveys completed in May 2014 and investigated only on the peripheries in the summer and fall of 2014. The Coosa trenching program was completed in early December 2014. The Company has just received the final assay results from ActLabs of Ancaster, Ontario, and is currently sorting through and will release the results as soon as possible this week. The next step will be to submit samples for metallurgical testing of targets that show promising assay results. Trenching work around the prior-producing Bama Mine should commence this week and will immediately be followed by assay & metallurgical work. Results from the Bama trenching program will be released as soon as they become available. The Company, along with its technical advisors, is also finalizing decisions regarding details of the Preliminary Economic Assessment (PEA). The Company will await the results from the Bama program before finalizing decisions with respect to the location of the initial PEA. In the meantime, the Company will initiate an Operating Expense and Capital Expense study that will be one of the key components of the PEA, regardless of location (Coosa or Bama project). The Company is also pleased to announce that it will be exhibiting at the Prospectors & Developers Association of Canada (PDAC) meeting in Toronto on March 1 through 4, 2015. The Company will be manning booth 3016 at the Investor’s Exchange.
“Given that the initial results from Bama property were some of the best results we have ever seen in Alabama, the Company would like to investigate the area further before finalizing the decision on the PEA,” said Ron Roda, President and CEO of Alabama Graphite. “We are greatly looking forward to attending this year’s PDAC convention, since last year’s meeting we have made significant progress with our exploration program at both the Coosa and Bama projects. We expect to have complete results from our recent Coosa trenching program as well as additional metallurgical testing and the PEA process in progress in time for PDAC. PDAC has always been a great venue for interacting with the investment community and we feel that Alabama Graphite has a compelling story to tell.”
Rick Keevil, P. Geo., a Director of the Company and VP of Project Development, is a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.
About Alabama Graphite
Alabama Graphite Corp.’s mission is to become one of the greenest graphite producers in the world. The Company, through its wholly-owned subsidiary, Alabama Graphite Company Inc., is conducting exploration and development both at its flagship Coosa Graphite Project in Coosa County, Alabama, USA and the recently acquired Bama project in Chilton County, Alabama, USA. These two advanced-stage projects are 100% owned by Alabama Graphite and are on private land. The two projects encompass over 43,000 acres and are located in an area with significant historical production of crystalline flake graphite. The Company has the largest NI 43-101 indicated flake graphite resource in the United States based on drilling 0.18 square miles (0.3% of the total acreage). The Alabama deposits are unique in that a significant portion of the graphite-bearing material is oxidized and has been broken down into an extremely soft rock. Both projects have in place critical infrastructure, are within close proximity to transportation routes and enjoy a hospitable climate allowing for year-round production and delivery. For further information and updates on the Company, please visit www.alabamagraphite.com.
ALABAMA GRAPHITE CORP.
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Ron S. Roda
President & Chief Executive Officer
Disclaimer for Forward-Looking Information
This press release contains forward-looking information under applicable Canadian securities laws (“forward-looking statements”) that are based on the beliefs of management and reflect Alabama Graphite Corp.’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current view of Alabama Graphite Corp. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of graphite; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company’s publicly filed documents. Forward-looking statements are also based on a number of assumptions, including that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted.
Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and Alabama Graphite Corp. undertakes no obligation to update forward-looking statements (unless required by law) if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Alabama Graphite Corp cautions that the foregoing list of material factors and assumptions are not exhaustive. When relying on Alabama Graphite Corp. forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and assumptions and other uncertainties and potential events. Alabama Graphite Corp. has also assumed that the material factors and assumptions will not cause any forward-looking statements to differ materially from actual results or events. However, the list of these factors and assumptions is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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