NR Orbite Aluminae Disclosure Update
MONTREAL, QUEBEC--(Marketwire - Feb. 29, 2012) - Orbite Aluminae Inc. (TSX:ORT) (the "Company") and the Autorité des Marchés Financiers ("AMF") have agreed to postpone until Friday, March 2, 2012, the hearing before the Bureau de décision et de révision regarding the submission of a draft order to cease trading of the Company's securities pending the filing of a report compliant with Regulation 43-101 Respecting Standards of Disclosure for Mineral Projects (Québec), revising the Preliminary Economic Assessment Technical Report (scoping study), published on January 12, 2012.
The hearing was initially scheduled for February 28, 2012, and the postponement is intended to enable Orbite and the AMF to continue their discussions with respect to the draft order.
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 pilot plant in Cap Chat, in the Gaspé region. An NI 43-101 report issued in August 2011, identified an Indicated Resource of about 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 November 14, 2011 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.
Source: Marketwire Canada (Feb 29, 2012 07:00:05 EST)