Alabama Graphite files NI 43-101 report for Coosa

Nov 18, 2015

ALABAMA GRAPHITE CORP. FILES MINERAL RESOURCE UPDATE TECHNICAL REPORT FOR COOSA GRAPHITE PROJECT IN COOSA COUNTY, ALABAMA, USA

Alabama Graphite Corp. has filed a National Instrument 43-101 technical report dated Nov. 17, 2015, entitled, “Technical Report Alabama Graphite Corp. Coosa Project” under the company’s SEDAR profile and its website. The comprehensive report includes details of the mineral resource estimate update (the results of which were announced on Oct. 13, 2015) for AGC’s 100-per-cent-owned flagship Coosa graphite project located in east-central Alabama, United States. The mineral resource estimate update and NI 43-101 technical report were prepared by Metal Mining Consultants Inc. of Highlands Ranch, Colorado, and authored by Scott E. Wilson, CPG, and Stewart D. Redwood, FIMMM — both independent qualified persons under NI 43-101 — using the most current Canadian Institute of Mining, Metallurgy and Petroleum standards on mineral resources and reserves, definitions and guidelines.

Highlights

Highlights of the updated mineral resource estimate include:

Indicated mineral resource of 78,488,000 tons, grading 2.39 per cent graphitic carbon (Cg) at a 1-per-cent cut-off grade, for a total of 1,876,000 tons contained graphite — the largest graphite indicated resource in the United States;
Inferred mineral resource of 79,443,000 tons, grading at 2.56 per cent Cg at a 1-per-cent cut-off grade, for a total of 2,034,000 tons contained graphite;
AGC’s 2015 drill program further substantiates the positive continuity of near-surface, oxidized higher-grade graphitic material, within a simple geological setting, successfully upgrading a significant amount of the previous inferred resource to the indicated resource category;
The drilling campaign successfully increased the amount of oxide material in the mineral resource estimate;
The updated mineral resource estimate will form the basis for an additional program of cost-effective infill trenching, which the company anticipates will further upgrade the mineral resources to the measured and indicated categories;
AGC will utilize the updated mineral resource estimate to prepare its maiden preliminary economic assessment for the Coosa graphite project, scheduled for publication on Nov. 27, 2015, (see Oct. 22, 2015 announcement).

             COOSA GRAPHITE PROJECT MINERAL RESOURCE ESTIMATE

                          Tonnage     Graphitic carbon    Contained graphite
Resource Category           (tons)                  (%)                (tons)

Indicated              78,488,000                 2.39             1,876,000
Inferred               79,433,000                 2.56             2,034,000

Notes:
A cut-off grade of 1 per cent Cg was used for this mineral resource estimate
update. See technical report for additional information on mineral
resource estimation methodology.
Inferred mineral resources represent material that is considered too
speculative to be included in economic evaluations. Additional trenching
and/or drilling will be required to convert inferred mineral resources
to measured or indicated mineral resources.
Mineral resources that are not mineral reserves do not have demonstrated
economic viability. There is no guarantee that all or any part of the
mineral resource will be converted into a mineral reserve.

As announced on Oct. 22, 2015, AGC remains on schedule to publish the Coosa graphite project’s PEA NI 43-101 technical report on Nov. 27, 2015, incorporating the company’s drill results from 2012 to summer 2015.

Qualified persons

Mr. Wilson, CPG, of Metal Mining Consultants, an independent qualified person as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content in this press release pertaining to the mineral resource estimate update.

Mr. Redwood, FIMMM, of Metal Mining Consultants, an independent qualified person as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content in this press release pertaining to the mineral resource estimate update.

Richard R. Keevil, PGeo, Alabama Graphite’s vice-president of project development, is a qualified person as defined by National Instrument 43-101 guidelines, and has reviewed and approved the content of this news release.

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