Orbite Aluminae Inc.
TSX : ORT

Orbite Aluminae Inc.

April 04, 2012 19:34 ET

Orbite Cease Trade Order Lifted

MONTRÉAL, QUÉBEC--(Marketwire - April 4, 2012) - Orbite Aluminae Inc. ("Orbite" or the "Company") (TSX:ORT) is pleased to announce, following a joint request made by the Company and the Autorité des marchés financiers, the lifting of the cease trade order on Orbite's shares by the Bureau de décision et de revision.

The decision is a consequence of the filing of a favorable audit report (the "Audit") carried out by engineering firm Roche Ltd., Consulting Group, and geologist Alex W. Knox, M.Sc., confirming the validity of the conclusions of the audited portions of Orbite's Preliminary Economic Assessment Technical Report (scoping study) published on January 12, 2012.

"We are pleased with the favorable results of the audit and optimistic about Orbite's growth and ongoing advancement of our alumina commercial project," said Richard Boudreault, President and CEO of the Company.

The complete version of the Audit can be found at: www.orbitealuminae.com or www.sedar.com.

Webcast conference call

An instant replay of the webcast conference call will be available until April 18, 2012. To listen to the replay please dial 1-416-626-4100 or toll free 800-558-5253, passcode 21587935, or visit the Company's website at www.orbitealuminae.com

About Orbite

Orbite owns 100% of the mining rights on a Grande-Vallée property of approximately 6 441 hectares, the site of an aluminous clay deposit located 23 km south of Grande-Vallée, and a 2 600 m2 full scale high purity alumina production plant in Cap Chat, in the Gaspé region. An NI 43-101 report issued in August 2011 identified a Resource of between 800 million and one billion tonnes of aluminous clay in part of the deposit containing a series of mineral elements. The Company also owns the intellectual property rights to a unique Canada and U.S. patented process for extracting alumina from various types of aluminous ores and for which patents are also pending in other countries. www.orbitealuminae.com

Forward-looking statements

Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.

Contact Information

  • MEDIAS
    Frederic Berard
    Vice-President
    H+K Strategies
    Tel.: 514-395-0375, ext. 259

    Orbite
    Jacques Bedard
    CFO
    Orbite Aluminae Inc.
    514-744-6264

    INVESTORS
    Louis Morin
    Investor Relations
    Tel.: 514-591-3988

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

    Nicole Blanchard
    Investor Relations
    Sun International Communications
    Tel.: 450-973-6600