Orbite Aluminae Inc.

May 17, 2011 11:05 ET

Exploration Orbite Responds to the TSX Venture Query

MONTREAL, QUEBEC--(Marketwire - May 17, 2011) - At the request of the Canadian Venture Exchange, Exploration Orbite V.S.P.A. Inc.(TSX VENTURE:ORT.A) announces it is not aware of any undisclosed development that would account for the unusual share trading on May 16, 2011.

Richard Boudreault, president and CEO of Orbite, commented "There is no material change in the Company's operations or underlying fundamentals that would explain the increase trading activity. Our business is going according to our expectations and we assure investors that the recent share price fluctuations are not related to any material change. I am optimistic regarding the firm's future and very confident about its products".

Our policy is not to comment on rumours or speculation and accordingly, we do not intend to comment further.

About Orbite

Orbite owns 100% of the exclusive mining rights on its 6,441-hectare Grande-Vallée property, the site of an aluminous clay deposit located 32 km northeast of Murdochville, and a 28,000 sq. ft. facility in Cap Chat, both in the Gaspé region. The latest NI 43-101 report issued has identified an Indicated Resource of more than 1BT of aluminous clay in part of the deposit. The Company also owns the intellectual property rights to a unique Canada and U.S.-patented process for extracting alumina from aluminous clays for which other international patents are also pending. The Company has cash assets of more than $19 million at present. www.explorationorbite.com

Orbite is Thinking Outside the Bauxite

Neither the 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.

Contact Information

  • MEDIA
    Frederic Berard
    Vice President
    HKDP Communications and Public Affairs
    514-917-1040

    INVESTORS
    Louis Morin
    Investor Relations
    514-591-3988

    Jason Monaco
    Managing Partner
    First Canadian Capital Corp.
    416-742-5600