-the addition highlights the importance of
Arianne Phosphate's Lac à Paul project
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTCQX (USA)
SAGUENAY, QC, June 10,
2024 /CNW/ - Arianne Phosphate (the "Company" or
"Arianne") (TSXV: DAN) (OTCQX: DRRSF) (FRANKFURT: JE9N), a
development-stage phosphate mining company, advancing the Lac à
Paul project in Quebec's
Saguenay-Lac-Saint-Jean region, is pleased to announce today that
the Government of Canada has added
phosphate to its Critical Mineral List. The criteria for the
Canadian Critical Mineral List are that the mineral is deemed
essential to the Canadian economy and national security, necessary
for a transition to a sustainable low-carbon economy, can be a
source for international allies and, is a mineral whose supply is
threatened. The addition of phosphate to this list
acknowledges the fundamental importance of this mineral and the
growing understanding of its necessity. With its addition,
Canada joins two of its Provinces,
Quebec & Ontario, as well as the European Union in
recognizing the significance of phosphate and adding it to their
respective lists.
The addition was announced today by the Honourable Jonathan
Wilkinson, Minister of Energy and Natural Resources. Minister
Wilkinson added, "by updating Canada's Critical Minerals List, we're taking
a proactive step to ensure that Canada's efforts to seize the generational
economic opportunity presented by our critical mineral wealth is
well informed by the most accurate market trends, geopolitical
factors, and science. Investments in critical mineral projects
create good jobs for workers, more avenues for Canadian innovation
and lower emissions across the country — all part of our plan to
build a cleaner Canada and a
prosperous, sustainable economy."
Arianne Phosphate today hosts the world's largest independent
greenfield phosphate deposit. Situated in Quebec, Canada, the Company can produce a very
high-purity/low-contaminant phosphate concentrate, ideal for use in
both fertilizer and technical-grade applications, including the
production of purified phosphoric acid ("PPA"). PPA is the
ingredient required in the production of lithium-iron-phosphate
("LFP") batteries, with many industry analysts seeing a large
shortage within the next few years. Arianne's Lac à
Paul project is fully permitted and shovel ready.
"The addition of phosphate to the critical mineral list not only
recognizes the importance of the mineral but, the challenges the
West has in securing the necessary supplies," said Brian Ostroff, President of Arianne
Phosphate. "We welcome the Canadian Government's decision to
add phosphate to its list and, along with the Quebec Government's
recent decision to do the same, believe this will be a significant
driver for Arianne as we look to conclude our ongoing discussions
with potential partners and financiers. An operating
Canadian-based phosphate mine, along with the construction of a
downstream PPA facility, would help relieve the growing anxiety
around supply and can address future needs whether it be for
agriculture or advanced technologies such as batteries."
As per Arianne's announcement in January of 2024 (see here), the
Company is currently undergoing a prefeasibility study ("PFS")
designed to look at the opportunity of constructing a large-scale
phosphoric acid plant in the Saguenay region of Quebec, Canada. The facility would be
able to convert high-purity igneous phosphate concentrate into a
purified phosphoric acid for use in important downstream
applications. As currently envisioned, the facility would be
capable of producing 350,000 tonnes of battery-grade PPA that would
tie into the growing Quebec
battery ecosystem, as well as that of the Western supply
chain. The facility would also produce over 200,000 tonnes of
a secondary phosphoric acid for use in specialty fertilizers and
animal feeds.
About Arianne Phosphate:
Arianne Phosphate ("Arianne Phosphate Inc.")
(www.arianne-inc.com) is developing the Lac à Paul phosphate
deposits located approximately 200 km north of the Saguenay/Lac St.
Jean area of Quebec, Canada.
These deposits will produce a high-quality igneous apatite
concentrate grading 39% P2O5 with little or
no contaminants (Feasibility Study released in 2013). The Company
has 202,890,210 shares outstanding.
Qualified Person
Raphael Gaudreault, eng.,
Qualified Person by NI 43-101, has approved this release. Mr.
Gaudreault is also the Company's Chief Operating Officer.
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.
Follow Arianne on:
Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing
News: http://resourceinvestingnews.com/?s=Arianne
Cautionary Statements Regarding Forward Looking
Information
This news release contains "forward-looking
statements" and "forward-looking information" within the meaning of
applicable securities regulations in Canada and the
United States (collectively, "forward-looking information").
Forward-looking information includes, but is not limited to,
anticipated quality and production of the apatite concentrate
at the Lac à Paul project. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", or the
negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might", or "will" be taken, occur or be achieved.
Forward-looking information is subject to be 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:
volatile stock price; risks related to changes in commodity prices;
sources and cost of power facilities; the estimation of initial and
sustaining capital requirements; the estimation of labour and
operating costs; the general global markets and economic
conditions; the risk associated with exploration, development and
operations of mineral deposits; the estimation of mineral reserves
and resources; the risks associated with uninsurable risks arising
during the course of exploration, development and production; risks
associated with currency fluctuations; environmental risks;
competition faced in securing experienced personnel; access to
adequate infrastructure to support mining, processing, development
and exploration activities; the risks associated with changes in
the mining regulatory regime governing the Company; completion of
the environmental assessment process; risks related to regulatory
and permitting delays; risks related to potential conflicts of
interest; the reliance on key personnel; financing, capitalization
and liquidity risks including the risk that the financing necessary
to fund continued exploration and development activities at Lac à
Paul project may not be available on satisfactory terms, or at all;
the risk of potential dilution through the issue of common shares;
the risk of litigation. 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 commodity
prices, exploration and development plans proceeding in accordance
with plans and such plans achieving their stated expected outcomes,
receipt of required regulatory approval, 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. 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.
SOURCE Arianne Phosphate Inc.