| | | January 25, 2010
MBMI Recommences Nickel Material Shipments From Alpha Project
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| | Vancouver, B.C., January 25, 2010 - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX V: MBR) is pleased to announce that its Philippine operations are preparing to recommence nickel material shipping activities. Several sales agreements have been executed with Asian industrial consumers for the delivery of nickel bearing material having grades of approximately 1.4% nickel. An inventory of material has now been blended, dried and delivered to the port facility at Alpha in Palawan, Philippines in preparation for shipment.
"A strong demand currently exists in Asia for the full range of nickel products which the Alpha, Philippine nickel project is able to offer on a direct shipping basis and MBMI is in a position to take full advantage of this opportunity," said Michael Mason, President and Director of MBMI.
The near term nickel material contracts are licensed for export under the Alpha Small Scale Mining (SSMO) permits. MBMI's Philippine partners report that the application process pursuant to the full-scale mine permit applications (FTAA) relating to the Alpha property and three other Palawan, Philippine nickel projects is in the late stages of completion. All environmental permits have been approved at both the provincial level and at the federal Department of Environment and Natural Resources (DENR) level. Once granted, the FTAA permit will allow the Palawan operations to increase exploration activities, expand shipping capacity and progress towards achieving full-scale commercial production levels.
MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI and its Philippine partners have an interest in nine nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael T. Mason"
President and Director
Further Information
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact Investor Relations at 1-877-399-1991 or mbr@mbmiresources.com.
Neither the 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.
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. |
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