OTTAWA, ONTARIO--(Marketwire - May 6, 2011) - Focus Metals Inc. (TSV VENTURE:FMS) announced today it has retained the services of mining engineers and consultants Roscoe Postle Associates (RPA), to commence work on the mine design and engineering for Focus Metals' Lac Knife, Quebec flake graphite property.
RPA is an internationally-recognized expert in mine and infrastructure design, including construction and mine operations, cost assessment, process design and administration in Canada, the United States and Europe.
RPA's team is headed by Mr. Marc Lavigne. Mr. Lavigne was a key member of the consulting team that was hired by Lac Knife's original owner, the Mazarin Mining Corporation, Inc. to undertake the first Lac Knife graphite feasibility in 1989.
"Our agreement with RPA – one of the most highly respected Canadian mining consultants in the world – brings us another step closer to production of our large flake graphite property," said Gary Economo, President and CEO of Focus Metals Inc.
"Of particular note is that RPA's design and engineering team is headed by Mr. Marc Lavigne, who has extensive first-hand experience with our Lac Knife property," Mr. Economo said.
"This agreement signed today with RPA is a major step forward for us as our NI 43-101 resource calculation and scoping studies are nearing completion," he said.
Mr. Economo said that under the terms of the agreement, RPA will provide the mine design and engineering plans to bring Lac Knife's 8.1 million tons of natural flake graphite into production, including processing, transportation and infrastructure, administration and mine and environmental management.
Mr. Lavigne is a mining engineer and project manager with extensive domestic and international open pit and underground mining experience. He holds a Masters of Sciences from Laval University, and is a member of the Order of Engineers of Quebec and a member of the Canadian Institute of Mining and Metallurgy.
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The Company also announces the granting of options to purchase in the aggregate 1,725,000 common shares of the Company to certain directors, officers, employees and consultants. Each option entitles the holder to purchase one common share of the Company at the price of $1.00 per share.
The options are granted pursuant to the Company's incentive stock option plan and under the plan are available for exercise for a period of five years.
Focus Metals Inc. is an emerging mid-tier junior mining exploration company with excellent discovery stage base metals and industrial minerals opportunities in Quebec. The Corporation intends also to acquire advance stage industrial minerals exploration properties in its portfolio in the future. The Corporation is led by a determined management and technical team with extensive exploration and mine production experience.
This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. While the Company anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information.
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