MONTREAL, Feb. 08, 2019 (GLOBE NEWSWIRE) — Mason Graphite Inc. (“Mason Graphite” or the “Company”) (TSX.V: LLG; OTCQX: MGPHF) is pleased to announce that an important milestone regarding key process equipment has been reached and also provides a brief operational update.
First and foremost, four of the six grinding mills, which are the main process equipment, were delivered in Baie-Comeau. Two press filters as well as the last two mills are currently on their way. Pictures of the mills being delivered and of one of the filters in transit can be seen below and on Mason Graphite’s website at: http://www.masongraphite.com/projects/photo-gallery/default.aspx
The pre-construction work has been advancing as well, notably with the completion of the wood clearing at the mine site of Lac Guéret. The Company is also pleased to report that all permits underlying the Decree required to begin ground construction at both mine site and plant site have been obtained.
Spherical Graphite Pilot Plant Equipment
Micronization and rounding equipment for the upcoming Li-ion battery spherical graphite pilot plant are also under way; they should be received by the end of February and should be operational in March.
Lastly, as discussed at a presentation to local communities in Baie-Comeau on January 11th, 2019, financing discussions are progressing well and the Company is maintaining its goal of beginning full-scale construction efforts this Spring.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.
Mason Graphite Inc. On Behalf of the Board
“Benoît Gascon, CPA, CA”, President & Chief Executive Officer
For more Information:
Simon Marcotte, CFA, Director Corporate Development at +1 (647) 801-7273
info@masongraphite.com
For more information relating to local communities:
Luc Veilleux, CPA, CA, CFO and Executive Vice-President
+1 (514) 289-3582
info@masongraphite.com
Head Office: 3030, boulevard Le Carrefour, bureau 600, Laval, Québec, H7T 2P5
Cautionary Statements
This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
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.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/89399fdd-64da-4f51-aa6a-e92bc22c842a
http://www.globenewswire.com/NewsRoom/AttachmentNg/79d8046b-8baf-4059-8fd0-20631a578ecc
http://www.globenewswire.com/NewsRoom/AttachmentNg/e3196d28-c261-4ca5-b5d5-3b5d4d7e3930
http://www.globenewswire.com/NewsRoom/AttachmentNg/1f3e710c-25c7-4c4d-8f9c-4a4e009fcb19