Opta Minerals Inc.
TSX : OPM

Opta Minerals Inc.

February 20, 2009 16:53 ET

Opta Minerals Inc. Announces Q4 Inventory Adjustment

WATERDOWN, ONTARIO--(Marketwire - Feb. 20, 2009) - Opta Minerals Inc. (TSX:OPM) previously announced that it will issue financial results for the fourth quarter and year ended December 31, 2008 on Thursday March 5, 2009 after the close of the stock market.

In a press release issued earlier today by SunOpta Inc. (which holds approximately 67% of the outstanding shares of Opta Minerals), SunOpta announced, among other things, that its results for 2008 would be considerably below its previously provided adjusted net earnings guidance. SunOpta attributed this, in part, to significant declines in the fourth quarter in certain commodity prices and the resulting mark to market impact on inventory values in a number of SunOpta business segments, including Opta Minerals.

Although Opta Minerals does not generally provide revenue or earnings guidance prior to the release of its quarterly or annual financial results, as a result of the SunOpta press release, Opta Minerals announces today that it will report a write down of the value of its magnesium based raw material inventory of $1.8 million on an after tax basis.

Opta Minerals' President and CEO, David Kruse, plans to host a conference call at 10:00 a.m. Eastern Standard Time, on Monday, March 9, 2009, to discuss fourth quarter 2008 results and recent corporate developments. This conference call can be accessed with the toll free dial-in number 1-866-321-8231 or 416-642-5213, quote confirmation code 8594328. If you are unable to listen live, the conference call will be archived and can be accessed at the following replay numbers between March 9th and March 16th, 2009 with the toll free dial-in number 1-888-203-1112 or 647-436-0148 followed by passcode: 8594328.

This press release contains "forward-looking statements" with respect to certain anticipated financial results of Opta Minerals. As Opta Minerals is still in the process of preparing its year-end financial statements, the financial information presented in this press release is an estimate and is subject to change. The forward-looking statements contained in this press release are based upon information currently available to management and on assumptions that management considers reasonable. Opta Minerals cannot assure readers that actual results will be consistent with these forward-looking statements, and management's assumptions may ultimately prove to be incorrect. These forward-looking statements are made as of the date of this press release and, other than as required by law, Opta Minerals does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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