Phosphate Added to the Canadian Critical Mineral List
Press Release
SAGUENAY, QUEBEC – (June 10, 2024) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTCQX: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, is pleased to announce today that the Government of Canada has added phosphate to its Critical Mineral List. The criteria for the Canadian Critical Mineral List are that the mineral is deemed essential to the Canadian economy and national security, necessary for a transition to a sustainable low-carbon economy, can be a source for international allies and, is a mineral whose supply is threatened. The addition of phosphate to this list acknowledges the fundamental importance of this mineral and the growing understanding of its necessity. With its addition, Canada joins two of its Provinces, Quebec & Ontario, as well as the European Union in recognizing the significance of phosphate and adding it to their respective lists.
The addition was announced today by the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources. Minister Wilkinson added, “by updating Canada’s Critical Minerals List, we’re taking a proactive step to ensure that Canada’s efforts to seize the generational economic opportunity presented by our critical mineral wealth is well informed by the most accurate market trends, geopolitical factors, and science. Investments in critical mineral projects create good jobs for workers, more avenues for Canadian innovation and lower emissions across the country — all part of our plan to build a cleaner Canada and a prosperous, sustainable economy.”
Arianne Phosphate today hosts the world’s largest independent greenfield phosphate deposit. Situated in Quebec, Canada, the Company can produce a very high-purity/low-contaminant phosphate concentrate, ideal for use in both fertilizer and technical-grade applications, including the production of purified phosphoric acid (“PPA”). PPA is the ingredient required in the production of lithium-iron-phosphate (“LFP”) batteries, with many industry analysts seeing a large shortage within the next few years. Arianne’s Lac à Paul project is fully permitted and shovel ready.
“The addition of phosphate to the critical mineral list not only recognizes the importance of the mineral but, the challenges the West has in securing the necessary supplies,” said Brian Ostroff, President of Arianne Phosphate. “We welcome the Canadian Government’s decision to add phosphate to its list and, along with the Quebec Government’s recent decision to do the same, believe this will be a significant driver for Arianne as we look to conclude our ongoing discussions with potential partners and financiers. An operating Canadian-based phosphate mine, along with the construction of a downstream PPA facility, would help relieve the growing anxiety around supply and can address future needs whether it be for agriculture or advanced technologies such as batteries.”
As per Arianne’s announcement in January of 2024 (see here), the Company is currently undergoing a prefeasibility study (“PFS”) designed to look at the opportunity of constructing a large-scale phosphoric acid plant in the Saguenay region of Quebec, Canada. The facility would be able to convert high-purity igneous phosphate concentrate into a purified phosphoric acid for use in important downstream applications. As currently envisioned, the facility would be capable of producing 350,000 tonnes of battery-grade PPA that would tie into the growing Quebec battery ecosystem, as well as that of the Western supply chain. The facility would also produce over 200,000 tonnes of a secondary phosphoric acid for use in specialty fertilizers and animal feeds.
About Arianne Phosphate:
Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high-quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 202,890,210 shares outstanding.
Qualified Person
Raphael Gaudreault, eng., Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault is also the Company’s Chief Operating Officer.
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.
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Contact Information:
Source : Raphael Gaudreault, COO
Tel. : 418-590-1318
raphael.gaudreault@arianne-inc.com
Info: Brian Ostroff, President
Tel. : 514-908-4202
brian.ostroff@arianne-inc.com
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