|By Marketwired .||
|January 23, 2014 05:15 PM EST||
SAGUENAY, QUEBEC -- (Marketwired) -- 01/23/14 -- Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN) (FRANKFURT: JE9N)(OTCBB: DRRSF) announced today it has engaged National Bank Financial Inc. and Wells Fargo Securities Canada, Ltd. (the "Co-Advisors") as its exclusive financial and strategic advisors to assist the Company in undertaking a structured and formal review of its financing alternatives as the Company enters the next phase of its development of the Lac a Paul Phosphate Rock Project. As outlined in previous communications, this engagement allows the Company to follow its expected project timeline.
In October 2013 Arianne received a favourable feasibility study showing Lac a Paul as a project with great economic potential, with the ability to produce a high quality apatite product and a transport system delivering the product to a year round deep water port on the Saguenay Fjord. Today's announcement is another significant step forward in the development of the world's largest greenfield phosphate rock project, in one of the world's best mining jurisdictions.
About Arianne Phosphate
Arianne (www.arianne-inc.com) is developing the Lac a Paul Phosphate Rock Project located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. This mine will produce a high quality igneous apatite concentrate grading 38.6% P2O5 with little or no contaminants. The Company has 84.2 million shares outstanding.
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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