OTTAWA, ONTARIO--(Marketwire - Nov. 1, 2012) - Focus Graphite Inc. ("Focus" or the "Company") (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) announces it has retained the services of Québec-based Terrapex Environnement Ltd. ("TERRAPEX") to assist the Company in obtaining the required federal, provincial and municipal permits and authorisation to develop the Lac Knife graphite project ("Lac Knife" or the "Project") towards the goal of full commercial production. The Lac Knife project is located in the Côte-Nord region of northeastern Québec, 27 km south-southwest of the iron-mining town of Fermont.
The decision to commence permitting procedures follows one of the recommendations set forth in the Preliminary Economic Assessment ("PEA") of the Lac Knife project, the results of which were announced by the Company on October 29th, 2012. The PEA which was prepared by Roscoe Postle Associates Inc. ("RPA"), in collaboration with Soutex Inc., demonstrates that the Lac Knife project has robust economics and an excellent potential to become a profitable producer of graphite. The PEA is available on the Company's Website at www.focusgraphite.com and on SEDAR at www.sedar.com.
Québec mine permitting process
The mine permitting process in Québec comprises of various Federal, Provincial and municipal authorizations for mine pre-development, permitting (Mining Lease application and mine closure plans per the requirements of the Québec Mining Act), road construction, mine construction, ore processing, camp installation and other considerations all of which lead to a request to the Ministère du Développement Durable, de l'Environnement, de la Faune et des Parcs du Québec ("MDDEFP") for a Global Project Authorisation or Certificat d'Autorisation ("CA") for the Project, per the requirements of the Québec Environmental Quality Act. Terrapex' mandate is to provide strategic and technical support to Focus at all government and municipal regulatory levels, and for all of the permits and authorisations required to advance the Lac Knife graphite project towards commercial production. To this end, Terrapex has already prepared a baseline regulatory framework for the Project which outlines all of the procedures the Company must follow in order to comply with applicable regulations and obtain the CA for the project.
As part of the permitting process, Focus has undertaken environmental auditing and baseline studies, advanced metallurgical testing, mine tailings and waste rocks characterisation and archeology and biodiversity studies which will lead to a full environmental and social impact study to be completed by year-end in 2013.
Gary Economo, President and CEO of Focus Graphite, stated, "The hiring of Terrapex to assist Focus in its endeavours to obtain all regulatory approvals for Lac Knife together with the start of environmental and social impact studies are further evidence of our commitment to expedite the development of the Project towards our goal of full commercial graphite production".
About Terrapex Environnement Ltd.
Founded in 1995, TERRAPEX (www.terrapex.ca) is a leading provider of specialised environmental and earth sciences services to the Québec mining industry, federal and provincial government agencies and municipal authorities. Active throughout Québec with offices in Brossard, Québec City, and Richmond and with a team of 50 professionals, TERRAPEX has completed over 7,000 projects to date spanning the fields of geology, mineral exploration, geotechnical engineering, hydrogeology, biological and environmental studies, site decontamination and agronomy.
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 Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% 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 Analysis ("PEA") of the Lac Knife project which demonstrates that the project has robust economics and excellent potential to become a profitable producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is also investing in the development of graphene applications and patents through Grafoid Inc.
This press release has been reviewed by Marc-André Bernier, M.Sc., P.Geo. (Ontario and Québec), Technical Adviser and a Director of Focus, and a Qualified Person under National Instrument (NI) 43-101.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.
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.