Orbite Aluminae Inc.

November 15, 2006 09:00 ET

Orbite: Private Placement of $600,000

MONTREAL, QUEBEC--(CCNMatthews - Nov. 15, 2006) - Exploration Orbite V.S.P.A. Inc. (TSX VENTURE:ORT.A) announces the completion of a private placement totaling $600,000. As a result of this offering limited to accredited investors, 3,000,000 Cat. A shares will be issued at a price of $0.20 per share of which 2,250,000 are flow-through shares. Moreover, subscribers will be issued 1,500,000 warrants each warrant entitling the holder to subscribe to one Cat. A share of the Corporation at a price of $0.25, for a period of twelve months.

The proceeds from the $450 000 flow-through financing will be used to fund the exploration program on the Grande-Vallee alumina clay property located near Murdochville, Quebec. A contract for the geophysical survey has been awarded to the Institut National de la Recherche Scientifique. The project involves magnetic, electromagnetic and geoelectrical tomography surveys. The goal is to spatially position and size the alumina clay deposits and estimate the thickness variation of the layer of clay on a section of the property. This work directed by Marc Richer-Lafleche Ph. D. Geology and certified geologist, will be followed by a drilling campaign leading to a first evaluation of the resource. Dr. Richer-Lafleche has reviewed and authorized the diffusion of this release.

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