Focus signs offtake agreement with Chinese Conglomerate for 10 years of Graphite production

press release

Dec. 19, 2013, 3:53 p.m. EST

Focus Graphite Signs Offtake Agreement for Lac Knife's Future Graphite Production

OTTAWA, ONTARIO, Dec 19, 2013 (Marketwired via COMTEX) -- Focus Graphite Inc. CA:FMS -1.85% (otcqx:FCSMF)(frankfurt:FKC) (the "Company") announced today it has entered into an offtake agreement for the future production from Lac Knife's graphite resource located 27 km southwest of Fermont, Quebec.

The strategic agreement for up to 40,000 tonnes per year of graphite concentrate and value added products was signed on December 19, 2013 by the Company with an industrial conglomerate, comprised of heavy industry, manufacturing and technology companies located Dalian City, Liaoning Province, China.

The 10-year agreement calls for the supply of up to 40,000 tpy of large, medium and fine flake graphite concentrate and value added graphite products from Focus Graphite's proposed Lac Knife, Quebec mining and processing facility.

The specific terms of the agreement, including pricing and renewal rights, are confidential for competitive reasons.

"On behalf of Focus Graphite we are extremely pleased to have completed our first offtake agreement. This agreement holds the potential for Lac Knife's future development," said Don Baxter, Focus Graphite's President and Chief Operating Officer.

"Not only is this offtake agreement the first of its kind in the graphite industry, it is significant in the fact that it encompasses the wide spectrum of Lac Knife's offerings in pioneering the sale of small flake to extra large flake and value added technology products," Mr. Baxter said.

"This agreement underscores our long-held commercial objective of competing in the China market," he added.

This agreement was completed in the absence of a Feasibility Study (currently underway) and there is no certainty the above objectives will be met.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Cote-Nord region of northeastern Quebec. The Lac Knife project hosts a NI 43-101 compliant Indicated Mineral Resource Estimate(i) of 4.9 million tons grading 15.8% graphitic carbon (Cgr) as crystalline graphite with an additional Inferred Mineral Resource Estimate(i) of 3.0 million tons grading 15.6% Cgr of crystalline graphite. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Assessment ("PEA") of the Lac Knife Project which indicated that the project has a very good potential to become a graphite producer. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus also invests in the development of graphene applications and patents through Grafoid Inc.

The technical information presented in this news release has been reviewed by Don Baxter Baxter, P.Eng, President and Chief Operating Officer of Focus Graphite Inc., and a Qualified Person under National Instrument (NI) 43-101 guidelines.

Forward-Looking Statement

This presentation 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 news release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

        
        Contacts:
        Focus Graphite Inc.
        Mr. Don Baxter, P.Eng
        President and Chief Operating Officer
        705-789-9706
        dbaxter@focusgraphite.com
        www.focusgraphite.com
        
        
        

Mason Graphite reports 658% increase in measured and indicated mineral resources to 50 million tonnes, including 6.7 million tonnes grading 32.4% Cg15

(ED Note: Trading halt lifted on this stock)

    --  EXCELLENT PEA RESULTS MAINTAINED: FIRST 22 YEARS OF PRODUCTION
        AT 27.4% Cg AND LOW OPERATING EXPENSES AT $390/TONNE
    --  CONFERENCE CALL WILL BE HELD TODAY AT 2PM EST

Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX.V: LLG; OTCQX: MGPHF) is pleased to announce significant resource growth in an updated mineral resource estimate for its 100%-owned Lac Guéret graphite project in northeastern Quebec. 
 
Highlights from the updated mineral resource estimate

    --  Measured & Indicated ("M&I") mineral resources increased 658%
        from 7.6 million tonnes ("Mt") to 50 Mt
    --  Inferred mineral resources increased from 2.8 Mt to 11.9 Mt
    --  Overall M&I grade of 15.6% Cg; the main parameters of the
        preliminary economic assessment for the Lac Guéret project (the
        "PEA") are still valid: 22 years of production at 27.4% with a
        low stripping ratio at 0.76:1 and low operating costs at
        $390/tonne
    --  Enlarged mineral resource could lead to optimized pit design
        and improved economics

Large increase in Mineral Resources
The new mineral resource estimate, as calculated by Roche Ltd. Consulting Group ("Roche''), includes assay data from 170 holes (approximately 26,500 metres) drilled in the GC Zone and now totals 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes grading 32.4% Cg, in the Measured and Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including 2,637,000 tonnes grading 30.5% Cg, in the Inferred category (See Table 1 below). The enlarged mineral resource envelope offers opportunities to further optimize the mine plan and the project's economics as set out in the PEA in the next phase of technical studies. 

"We are very pleased to see the success of our 2012 drilling program materialize in this updated mineral resource estimate", commented Benoît Gascon, President and CEO of Mason Graphite. "We expect the scale of growth of our project to positively impact what is already expected to be an economical project. Results from the Lac Guéret Project continue to reinforce our belief in the world-class potential of this asset."
Table 1 - December 5, 2013 - Updated Mineral Resource Estimate, GC Zone

 ________________________________________________________
|Categories   |            Unit    |    Tonnes|Grade (Cg)|
|_____________|____________________|__________|__________|
|                                                        |
|________________________________________________________|
|             |U1/U2 (5 to 25 % Cg)| 4,052,000|     13.4%|
|             |                    |          |          |
|Measured (M) |U3 (> 25 % Cg)      |   465,000|     33.8%|
|             |____________________|__________|__________|
|             |All units           | 4,517,000|     15.5%|
|_____________|____________________|__________|__________|
|             |U1/U2 (5 to 25 % Cg)|39,300,000|     13.0%|
|             |                    |          |          |
|Indicated (I)|U3 (> 25 % Cg)      | 6,207,000|     32.3%|
|             |____________________|__________|__________|
|             |All units           |45,507,000|     15.6%|
|_____________|____________________|__________|__________|
|             |U1/U2 (5 to 25 % Cg)|43,352,000|     13.0%|
|             |                    |          |          |
|M + I        |U3 (> 25 % Cg)      | 6,672,000|     32.4%|
|             |____________________|__________|__________|
|             |All units           |50,024,000|     15.6%|
|_____________|____________________|__________|__________|
|                                                        |
|________________________________________________________|
|             |U1/U2 (5 to 25 % Cg)| 9,224,000|     13.3%|
|             |                    |          |          |
|Inferred     |U3 (> 25 % Cg)      | 2,637,000|     30.5%|
|             |____________________|__________|__________|
|             |All units           |11,861,000|     17.1%|
|_____________|____________________|__________|__________|

Note:   A cut-off grade of 5% Cg was used for this mineral resource
        estimate.

        See additional notes on mineral resource estimation methodology
        at the end of this news release.

Excellent PEA Results Maintained
On April 22, 2013, Mason Graphite reported positive results in the PEA for the Lac Guéret project, which included 22 years of production at 27.4% Cg considering a strip ratio of 0.76:1 and operating costs of $390 per tonne. This technical study used data from the previous July 2012 mineral resource estimate, which covers only a small portion of the updated mineral resource area (see Figure 1).
The block model that was created for the mineral resource update was provided to Met-Chem Canada Inc. ("Met-Chem''), the firm responsible for the completion of the PEA. Met-Chem was able to verify and confirm that conclusions of the PEA are still relevant and valid for the updated model.
The Company expects the scale and grade of the new mineral resource to positively affect the project economics in the next phase of technical studies.
An updated NI 43-101 technical report outlining the procedures for estimation of the mineral resource estimate presented herein will be filed on SEDAR within 45 days of the date of this press release.
Future Mineral Growth Potential
The new mineral resource estimate is based on drill data from the GC Zone, which represents only one of two mineralized zones identified on the Lac Guéret property to date.
GC Zone A total of 170 holes totalling approximately 26,500 metres have been drilled in this area. The GC Zone has a strike length of approximately 1.2 kilometres and the new mineral resource estimate has almost doubled the width of the deposit to about 600 metres. The mineral envelope remains open in all directions and the company expects further growth with additional drilling.
GR Zone To date, only 18 holes totalling approximately 2,300 metres have been drilled in this zone, which is located less than one kilometre north of the GC Zone. The GR Zone is currently defined on an area spanning about 1 kilometre by 110 metres.
Mineral Resource Estimation Methodology
The Mineral Resource estimation for the GC Zone is based on geological observations and geochemical data modelization involving the following rock subdivisions: Unit 1 is defined by a content of 5-10 % Cg; Unit 2 by 10-25 % Cg; and Unit 3 by 25 % Cg or more. Waste has less than 5 % Cg. Units 1 and 2, appearing similar in texture, have been regrouped during the interpretation. Unit 2 now ranges from 5 to 25 % Cg.
The GC Zone database includes 4 channels sampled trenches (approximately 900 meters) in addition to 170 NQ size diamond core holes drilled prior to December 15(th), 2012 (approximately 26,500 meters) for a total of 18,182 samples.
Resources were classified as Measured, Indicated or Inferred based on information spacing and the confidence to the geological continuity of mineralization in accordance to the CIM guidelines. Only material located within a pit shell generated from an optimized mining scenario run under Whittle software is included in this mineral resources estimate. This scenario is assuming an overall pit slope of 45°, an operating cost of $69.00 US per tonne milled (including mining and milling costs), a 100 % mining recovery, no mining dilution and a conservative selling price of $1,525 US/tonne of concentrate at 93.7 % Cg.
Drill holes cross sections and plan views were interpreted to construct three-dimensional wireframe models using the geochemical analyses and geological descriptive logs with a nominal cut-off of 5% Cg under GEMS software. No capping value was applied to the assays. Assay intervals were composited to 3 meter lengths from the raw Cgr assay values and grades were estimated using ordinary Kriging. Search ellipsoids were defined in a plane that parallels the average bedding trend characterized by an azimuth of 50(o )and a plunge of 40(o). Anisotropy was interpreted in semi variogram and set to 60 meters along the x axis, 40 meters along the y and 50 meters along the z axis. The block model was defined by block size of 3 meters long by 3 meters wide by 3 meters thick, rotated 40 degrees counter clockwise in alignment to the main geological trend over a total of 425 columns, 265 rows and 110 level and covers a strike length of 960 meters to a maximal depth of 253 meters below the highest surface point. The final mineral resources which are located inside the optimised pit reach 205 meters below surface (maximum depth of optimised pit). From unit types, the following densities were assigned to the blocks: U1-U2 (5-25% Cg)= 2.94 g/cm3, U3 (>25% Cg)= 2.88 g/cm3, Waste (0-5% Cg)= 2.92 g/cm3.
The zone remains open in length and at depth.
Conference Call Details
A conference call will be hosted today, December 5, 2013, at 2:00 pm EST, by the senior management of the Company to discuss the new mineral resource estimate.
The dial-in numbers are:
+1 416 340 2216 (Toronto and International) +1 866 223 7781 (North American Toll Free)
There will be a replay of this call, which will last until end of day December 12, 2013. The replay call in numbers are 905-694-9451 (Toronto and International), or 800-408-3053 (North American Toll Free). The conference ID number 2808861 will serve as the password for the replay.
Quality Control and Assurance
Analyses for this drilling campaign were carried out by AGAT Laboratories Ltd. in Mississauga, Ontario, a company independent from Mason Graphite, exercising a thorough Quality Control and Assurance program (QA/QC) with Mason Graphite personnel inserting one blank, two standards and one duplicate every 100 samples. AGAT Laboratories are accredited ISO/IEC 17025 by the Standards Council of Canada (SCC). Carbon as graphite ("Cg") assays reported in this press release were obtained by using the LECO analytical technique ASTM E1915-07A with a detection limit of 0.01% Cg. Drill holes were sampled over an average of 1.5 meter intervals.
Control analyses were performed by Consortium de Recherche Appliquée en Traitement et Transformation des Substances Minérales (''COREM'') of Quebec City.
Qualified Persons
The resource estimate was prepared by Roche, a company independent from Mason Graphite. Edwards Lyons, P.Geo. from Tekhne Research, and Martin Perron from Roche, are independent Qualified Persons as defined by National Instrument 43-101. Mr. Lyons and Mr. Perron have reviewed and approved the technical information pertaining to the mineral resource estimate in this news release.
Mary-Jean Buchanan, Eng. M.Env., of Met-Chem Canada Inc., an independent Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information pertaining to the PEA in this news release.
Yves Caron, P. Geo., M.Sc., Director of the Geology and Exploration for Mason Graphite, and Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President of Process Development, both Qualified Persons as defined by National Instrument 43-101, have reviewed and approved the scientific and technical content of this press release.
About Mason Graphite
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, located in northeastern Québec. The property hosts a National Instrument 43-101 compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes at 32.4% Cg, in the Measured and Indicated categories and 11,861,000 tonnes at 17.1% Cg, including 2,637,000 tonnes at 30.5% Cg, in the Inferred category. Excellent potential exists for further mineral growth. A Preliminary Economic Assessment study was completed on a historic 7.6Mt mineral resource from July 2012 which features 22 years of production at 27.4% Cg and a pre-tax internal rate of return of 33.7% (see technical report issued by the Company on June 6, 2013). The Company's senior management team possesses significant graphite expertise from their experience at Timcal/Imerys, including Benoit Gascon, CPA, CA, who held executive positions for 20 years, including over 6 years as President and CEO; Jean L'Heureux, Eng., Executive Vice-President, Process Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive Vice-President, with 8 years of experience. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.
For more information about Mason Graphite, visit www.masongraphite.com or contact info@masongraphite.com.
Stay Connected: Twitter: @MasonGraphite Facebook: /MasonGraphite
Cautionary Statements
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; * 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.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral resources.
The PEA is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized.
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.
SOURCE Mason Graphite Inc.
Image with caption: "Figure 1 - GC Zone, Lac Guéret Project. (CNW Group/Mason Graphite Inc.)". Image available at: http://photos.newswire.ca/images/download/20131205_C7936_PHOTO_EN_34529.jpg
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SOURCE: Mason Graphite Inc.

For more information about Mason Graphite, visitwww.masongraphite.com or contact:
Investor Relations info@masongraphite.com   Simon Marcotte, Vice-President Corporate
Development +1 (416) 861-5822   Benoît Gascon, President & CEO   Greater
Montreal Office 3030 Le Carrefour blvd. Suite 600 Laval QC H7T 2P5   Toronto Office
65 Queen Street West, Suite 800 Toronto, ON M5H 2M5

Sirocco And Canada Lithium Combining To Form Strategic International Competitor In Growth-Oriented Industrial Minerals Sector

Toronto, Canada -- December 4, 2013

Sirocco Mining Inc. ("Sirocco") (TSX: SIM) and Canada Lithium Corp. ("Canada Lithium") (TSX: CLQ) (U.S. OTC: CLQMF) jointly announce that their respective boards of directors have approved, and that they have entered into, a definitive agreement (the "Arrangement Agreement") pursuant to which they will complete a business combination by way of a statutory Plan of Arrangement (the "Arrangement") under the Canada Business Corporations Act. Following the completion of the Arrangement, the current Canada Lithium shareholders will hold approximately 58% of the combined company, while current shareholders of Sirocco will hold approximately 42%.

 Highlights of the Arrangement Include:
 The business combination of Sirocco with its established Aguas Blancas iodine mine in Chile and Canada Lithium with its commissioning-stage lithium project in Quebec will create a significant industrial minerals producer in both the iodine and lithium markets. It is anticipated the combined company will provide significant market and growth synergies and over-all cost reduction. Sirocco's balance sheet and cash flow de-risk the production ramp-up of Canada Lithium's project. In addition, the combined company with its stronger balance sheet will offer greater cash resources. Anticipated ongoing growth in the automotive and electronics sector will continue to drive demand for lithium products, while anticipated increasing applications for X-ray media in Asia will continue to support iodine consumption. This allows for diversification of revenue and market risks.

 In the short to medium term, there is potential for downstream, value-added growth into lithium metal, potassium and sodium nitrates, sodium sulphate and lithium hydroxide. New and continued developments in the lithium battery sector, specifically lithium-iodine technology, which demonstrates higher energy levels and increased battery performance over current lithium battery technologies, may provide the combined company increased market opportunities as uptake of these new battery applications increases.

The combination of Canada Lithium and Sirocco results in only one of two public companies, the other being SQM of Chile, producing both iodine and lithium. Following the closing of the Arrangement, the current Sirocco management team will be appointed as officers of the combined company: Richard P. Clark, as Chief Executive Officer, Alessandro Bitelli, as Chief Financial Officer, Kevin Ross, as Chief Operating Officer and Hugh Stuart, as Vice President of Exploration. This is the core team that contributed to the growth of Red Back Mining's operations, which was acquired by Kinross Gold Corporation for $9.2 billion. Sirocco shareholders will receive 1.175 common shares (on a pre-consolidated basis) in the capital of Canada Lithium for each outstanding Sirocco common share. Pursuant to the transaction, Canada Lithium expects to issue approximately 294 million common shares (on a pre-consolidation and non-diluted basis). The Arrangement values each Sirocco share at C$0.48 representing a premium of approximately 23% to the 20-day volume weighted average price of the Sirocco common shares on the Toronto Stock Exchange as of December 3, 2013. The Arrangement has been approved by the board of directors of both companies. Following the closing of the Arrangement, the board of the combined company will be comprised of nine individuals. Four of the nine will be Canada Lithium nominees, with the remaining five individuals to be nominated by Sirocco. In connection with the Arrangement, Canada Lithium will consolidate its common shares on the basis of one post-consolidation common share for each three existing Canada Lithium common shares. "We're delighted to be joining forces with the Sirocco team. They have an exceptional track record in identifying growth opportunities, establishing sound operations and building wealth for shareholders," said Canada Lithium CEO Peter Secker. Commenting on the transaction, Sirocco CEO Richard Clark said: "We have been looking for growth opportunities in the industrial minerals sector and this combination provides an excellent opportunity for geographic and product diversification while at the same time aligning two products with potential future complementary applications."

At a full annualized production rate, Canada Lithium would produce approximately 20,000 tonnes of battery-grade lithium carbonate, which represents about 12% of the world's output. The commodity, an essential component in lithium-ion batteries, powers the vast and growing field of consumer electronics, electric and hybrid vehicles and grid storage units. Sirocco's iodine operation in Chile will produce approximately 1,400 tonnes of iodine in 2013, with plans to produce 1,000 tonnes in 2014. Upon completion of the installation of a semi-autogenous grinding (SAG) mill, annual capacity will increase to over 2,000 tonnes per annum. Under the Arrangement, as noted above, shareholders of Sirocco will receive 1.175 common shares (on a pre-consolidation basis) in the capital of Canada Lithium for each outstanding Sirocco common share, representing a premium of approximately 23% to the 20-day volume weighted average price of the Sirocco common shares on the Toronto Stock Exchange as of December 3, 2013. The total consideration payable pursuant to the Arrangement values Sirocco's equity at approximately C$120 million. Pursuant to the transaction, Canada Lithium expects to issue approximately 294 million common shares (on a pre-consolidation and non-diluted basis). The transaction will be carried out by way of a court-approved plan of arrangement and will require the approval of at least 66 2/3% of the votes cast by the securityholders of Sirocco at a special meeting of Sirocco shareholders expected to take place in January 2014. It is expected that the transaction will be exempt from the registration requirements of the U.S. Securities Act of 1933, as amended. The transaction is also subject to obtaining the approval of at least a majority of the votes cast by the shareholders of Canada Lithium approving the issuance of the shares in connection with the Arrangement and approval of at least 66 2/3% of the votes cast by the shareholders of Canada Lithium approving the consolidation of the shares of Canada Lithium on 3-for-1 basis, at a special meeting of Canada Lithium shareholders expected to take place the same date as the Sirocco meeting. In addition to securityholder and court approvals, the transaction is subject to applicable regulatory approvals, including the TSX, and the satisfaction of certain other closing conditions as is customary in transactions of this nature. Canada Lithium's financial advisor, Primary Capital Inc. has provided an opinion to the Canada Lithium board of directors that the transaction is fair, from a financial point of view, to Canada Lithium's shareholders (other than Sirocco). The financial advisor for Sirocco, Scotia Capital Inc., has provided an opinion to the Sirocco board of directors that the consideration to be received by the Sirocco shareholders under the transaction is fair, from a financial point of view, to the Sirocco shareholders. Canada Lithium's legal counsel is Cassels Brock & Blackwell LLP and Sirocco's legal counsel is Blake, Cassels & Graydon LLP. Kingsdale Shareholder Services Inc. has been retained as proxy solicitors and information agent. The Arrangement Agreement includes a commitment by each of Sirocco and Canada Lithium not to solicit alternative transactions to the proposed Arrangement. In certain circumstances, if a party terminates the definitive agreement to enter into an agreement to effect a superior proposal that is different from the Arrangement, then such party is obligated to pay to the other party as a termination payment of C$4 million, subject to a right by each party to match a competing superior proposal in question. In connection with the Arrangement Agreement, Sirocco has also agreed to provide a bridge loan of up to $10 million to Canada Lithium. The loan will be due and payable on the earliest of the following: (a) thirty days after the completion of a superior proposal transaction by Canada Lithium or (b) six months following a demand notice from Sirocco. The bridge loan is subject to, among other things, receipt of TSX approval and certain other closing conditions. The loan may be converted, at the option of Sirocco, into common shares of Canada Lithium at a conversion price of $0.399 per common share, at any time after the termination of the Arrangement Agreement. Further information regarding the transaction will be contained in an information circular that each of Canada Lithium and Sirocco will prepare, file and mail in due course to their respective shareholders in connection with the special meetings of each of the Canada Lithium and Sirocco shareholders to be held to consider the transaction. All shareholders are urged to carefully read the information circulars once they become available as they will contain additional important information concerning the transaction. Details regarding these and other terms of the transaction are set out in the Arrangement Agreement, which is available on SEDAR at www.sedar.com. The information agent for the Arrangement is Kingsdale Shareholder Services Inc. ("Kingsdale"). Questions and requests for assistance, including requests for additional information may be directed to Kingsdale at 1-866-581-0510 or by email at: contactus@kingsdaleshareholder.com. About Sirocco Sirocco Mining Inc. is a Canadian company which produces iodine from its Aguas Blancas mine in northern Chile. In addition, Sirocco has exploration interests in West Africa and is actively assessing other opportunities in the resource sector. For more information regarding Sirocco, please refer to Sirocco's public filings available at www.sedar.com and www.siroccomining.com including, in particular, Sirocco's Management's Discussion and Analysis for the year ended December 31, 2012 and its Annual Information Form for the year ended December 31, 2012 and the Management's Discussion and Analysis for the three-month and nine-month periods ended September 30, 2013. About Canada Lithium Canada Lithium holds a 100% interest in the Québec Lithium Project near Val d'Or, the geographical heart of the Québec mining industry. It has completed construction and is in the commissioning phase of an open-pit mine and on-site processing plant with estimated capacity to produce approximately 20,000 tonnes of battery-grade lithium carbonate annually. For more information regarding Canada Lithium, please refer to Canada Lithium's public filings available at www.sedar.com and www.canadalithium.com including, in particular, Canada Lithium's Management's Discussion and Analysis for the year ended December 31, 2012 and its Annual Information Form for the year ended December 31, 2012 and the Management's Discussion and Analysis for the three-month and nine-month periods ended September 30, 2013. Forward-Looking Statements Certain information contained in this news release, including any information relating to the proposed transaction (the "Transaction") and each issuer's future financial or operating performance may be deemed "forward-looking". These statements relate to future events or future performance and reflect each issuer's expectations regarding the Transaction, and the future growth, results of operations, business prospects and opportunities of Sirocco, Canada Lithium and the combined company. These forward-looking statements also reflect each issuer's current internal projections, expectations or beliefs and are based on information currently available to Sirocco or Canada Lithium, respectively. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward looking information regarding completion of the Transaction are based include that Sirocco and Canada Lithium will be able to satisfy the conditions to the Transaction, that the required approvals will be obtained from the shareholders and optionholders of each issuer, as applicable, that all third party regulatory and governmental approvals to the Transaction will be obtained and all other conditions to completion of the Transaction will be satisfied or waived. Although Sirocco and Canada Lithium believe that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Sirocco and Canada Lithium expressly disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws. For Further Information, Contact: Sophia Shane Sirocco Mining Inc. Tel: (604) 689-7842 Website: www.siroccomining.com Olav Svela Director, Investor Relations Canada Lithium Corp. Tel: (416) 479-4355 osvela@canadalithium.com

Lockheed Martin to use IBC Advanced Alloy in the F-35 Lightning

IBC Advanced Alloys Corp.

TSX VENTURE : IB
OTCQX : IAALF

December 03, 2013 09:00 ET

IBC Engineered Materials Working with Lockheed Martin to Qualify Beralcast® Alloys for F-35 Lightning II Applications

Collaborative work will expand Beralcast® casting applications for F-35 Lightning II and other Lockheed platforms while offering shorter lead times and competitive pricing

WILMINGTON, MASSACHUSETTS--(Marketwired - Dec. 3, 2013) - IBC Advanced Alloys Corp. (OTCQX:IAALF) (TSX VENTURE:IB) ("IBC" or the "Company") reports that its wholly owned US subsidiary, IBC Engineered Materials Corp. ("IB-EMC") is in the final stages of a materials and production qualification process with Lockheed Martin's F-35 Electro-optical Targeting System (EOTS) team based in Orlando, Florida.

IB-EMC is working directly with Lockheed Martin's F-35 EOTS engineering, design and quality teams to develop specific components to demonstrate the technical and commercial viability of the Company's proprietary Beralcast^® alloys as effective alternatives to improve lead time and affordability of high performance aerospace components made from beryllium aluminum alloys. As a part of the project IB-EMC has completed several advanced prototype castings which are being used to evaluate Beralcast^® alloys and castings for several critical structural and sub- system aerospace components.

The current first phase initiative is to conduct studies of Beralcast^® alloys for use on specific optical components on Lockheed Martin's F-35 Lightning II aircraft. This collaboration with Lockheed Martin is also allowing IBC to demonstrate its expertise and industry leadership in offering rapid prototyping and advanced materials solutions to provide investment cast parts to aerospace customers with short lead time and competitive pricing requirements.

"IBC Engineered Materials is excited to be collaborating with Lockheed Martin and believe we will demonstrate the viability of our Beralcast^® alloys and cast components as mechanically compliant and cost effective components for the F-35 Lightning II program," said Ray White, President of IB-EMC. "We hope that IBC's partnership and collaboration with Lockheed Martin will advance the potential for our engineered materials products for other aerospace industry initiatives where modulus, weight and cost are important design criteria."

Beralcast^® alloys can be used in virtually any high performance application requiring complex, lightweight and high-stiffness parts and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum. Beralcast's^® principal alloys are more than three times stiffer than aluminum with 22% less weight and can be precision-cast for simple and complex three-dimensional stability. These high modulus alloys are ideal for high performance industrial and high tech components as well as for a wide range of aerospace applications.

AboutIBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

Contact Information

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  IBC Advanced Alloys Corp.
  Ian Tootill
  Director of Corporate Communications
  (604) 685-6263 ext 110
  itootill@ibcadvancedalloys.com
  www.ibcadvancedalloys.com