Orbite Aluminae Inc.

August 13, 2009 11:13 ET

Orbite Closes its $200,000 Flow-Through Private Placement to Further the Geological Findings at Grande-Vallee

MONTREAL, QUEBEC--(Marketwire - Aug. 13, 2009) - Exploration Orbite V.S.P.A. Inc. (TSX VENTURE:ORT.A) announces the closing of its $200,000 private placement. The placement reserved to accredited investors, was composed of 40 units priced at $5,000 per unit, the investors will receive i) 40,000 flow-through class "A" shares of the Corporation at a price of $0.10 per share; ii) 10,000 non flow-through class "A" shares at a price of $0.10 per share and, iii) 25,000 warrants, each warrant being convertible into one (1) class "A" share of the Corporation at a price of $0.20 with a duration of a 12 months period following the closing.

The proceeds will be used in enhancing our geological knowledge of the Grande-Vallee property and the balance of the proceeds will be versed to working capital. The shares issued pursuant to the offering will be subject to a four-month holding period. No finder's fee is payable for the transaction, which is subject to regulatory approval.

Further to this placement, the Company has a budget of the order of $300 000 to extend the successful exploration work initiated in 2006 on its Grande-Vallee Property in Gaspesie. The 2009 program will be concentrated on the "Marin" sector of interest where a strong concentration of alumina clay was identified during the past years.

A mandate was granted to the firm "MIR Teledetection" for the analysis of the lithological continuity using geospatial data support in the exploration of the aluminous shales of Grande-Vallee. A drilling campaign of about 3,000 metres will also be realized in the same sector, with the aim of adding to the quantity of already identified alumina clay.

About Orbite

Exploration Orbite VSPA Inc. is the 100% holder of mineral rights relating to the Grande-Vallee property which consists of over 62 aluminous clay cells covering 3457,25 hectares, and which is located 32 km north-east of Murdochville, in Gapesie. The Corporation also holds intellectual property rights on a patent pending process for extracting alumina from aluminous argillite.

Neither the TSX Venture Exchange nor the provider of services regulation (as defined in the policies of the TSX Venture) does not accept responsibility for the veracity and accuracy of this release

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