March 14, 2013 – Sylacauga, Alabama -
Alabama Graphite Corp. (the "Company") (CNSX:ALP) (Frankfurt: 1AG.F WKN A1J35M) is pleased to report that it has updated the original Technical Report dated August 31, 2012 for its Coosa Graphite Project, Alabama. This report is filed with SEDAR and a link to this report is available through SEDAR (
www.sedar.com), or can be downloaded at the company webpage:
www.alabamagraphite.co. As with the previous report, Dana Durgin, P.Geo. and QP, is the author of the updated report.
The substantial amount of work completed over the last six months prompted the Company to update the report. Major revisions include a substantial increase in the acreage held under mineral lease, the Surface Use Agreement to drill with Headwaters Investments, permitting with the Alabama Department of Environmental Management (ADEM) and a better understanding of the local geology. The most significant change, however, involves the completion of a drill program involving both diamond coring and sonic drilling. A total of 21,856.9 feet (6662m) were drilled in 69 holes within the project area. Assay results for 38 cores holes and seven sonic holes are included within the report.
Dr. Douglas Oliver, VP Exploration, comments, “The need to revise this report so soon after issuing the original is an indication of our rapid progress at the Coosa Project. Since last summer our level of knowledge regarding the graphite mineralization and the local geology has expanded by an order of magnitude. However, we emphasize that this should be regarded as an interim report. We are on track to having a compliant mineral resource estimate in hand this Spring. That will, of course, require us to issue a new technical report.”
Dana Durgin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed the contents of this press release.
About Alabama Graphite:
Alabama Graphite Corp., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project "The Coosa Graphite Project" in Coosa County, Alabama encompasses of over 40,000 acres located in an area with significant historical production of crystalline flake graphite. For further details go to www.alabamagraphite.co
ALABAMA GRAPHITE CORP.
Daniel Spine, CEO
(404) 661-6254
Danny Gravelle, Investor Relations
(949) 481-5396
ir@alabamagraphite.co
THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-looking information
This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the anticipated timing of processing of drill core and the return of assay values, along with the determination of an initial mineral resource estimate.
Forward-looking information is based on a number of material factors and assumptions, including contracted parties being able to provide services on the agreed timeframes, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, changes in project parameters as plans continue to be refined; future prices of graphitic carbon; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
