Vancouver, B.C., July 19, 2013 – Big North Graphite Corp. (“Big North” or the “Company”) (TSXV: NRT) announces that as part of the Company’s previously announced program of test mining at the Nuevo San Pedro project in Mexico (see News Release of May 24, 2013), Big North has mined and stockpiled approximately 160 tons of amorphous graphite. Big North initiated the test mining/bulk sampling program, as recommended by the Company’s NI 43-101 Technical Report titled “Mexico Graphite Project: Aki Wiki and Nuevo San Pedro Concessions”, to test the existing active and inactive workings. The Company will continue its mining operations and stockpiling as sales options are being reviewed.
Mining is being supervised by veteran graphite miner Fernando Durazo who has more than 17 years experience mining graphite in the region. Big North is continuing the program at this time. The mined graphite from Nuevo San Pedro has been shipped to the Company’s processing facility located near the town of La Colorada, in Sonora State, Mexico.
The installation of the initial screening plant at La Colorada has been completed and tested and ready for operation. The graphite can currently be screened and sized to a 3/4 minus inch product. The oversized material will be stockpiled and processed further after the installation of a crushing circuit.
Spiro Kletas, President of Big North Graphite stated, “We are pleased with the progress at Nuevo San Pedro and look forward to continued results from the project. The Board and Management of Big North Graphite believe that we can build a successful business for our shareholders in amorphous graphite and our goal is to become one of the first graphite focussed, TSX Venture companies to capture some of the graphite market. Further, we believe that being one of the only companies developing an amorphous graphite project, which is the largest segment of the graphite market, provides Big North with an advantage when it comes to creating a successful business for the long term.”
Big North, through its Mexican subsidiary Grafito la Barranca SA de CV, holds a 100% interest in the Aki Wiki concession and has a 50/50 joint venture on the Nuevo San Pedro Project. Both concessions are located in the San Jose de Moradillas region, a region that has produced graphite for more than 100 years. San Jose de Moradillas is located approximately 45 kilometers southeast of the city of Hermosillo, Mexico.
Private Placement
Further to the Company’s news release of June 6, 2013, Big North has been granted an extension from the TSX Venture exchange for the completion of the Company’s private placement of up to $400,000. The Company is working to complete this placement by the end of July, 2013.
About Big North Graphite Corp.
Big North is a graphite development and exploration company focused on select projects in Mexico and Canada. The Company recently acquired three past producing amorphous graphite mines in Sonora, Mexico and is working towards accelerating the restart of the Nuevo San Pedro amorphous graphite mine. Big North has recently completed two phases of the restart of the Nuevo San Pedro mine, which includes the delivery of equipment, clean up of access roads, installation of electrical and ventilation systems, receipt of permits to use dynamite to blast at the mine and the stabilization and repair of the existing workings. Big North is currently in the Test Mining phase at Nuevo San Pedro.
Recently, the Company announced that it has started the assembly of a processing plant that will be used for stockpiling, crushing, screening, sizing and drying of graphite to the specifications of individual future customers.
Big North also owns high priority, large flake graphite exploration projects in Ontario and Quebec, Canada.
For further information please contact Spiro Kletas at (604) 629-8220 .
ON BEHALF OF THE BOARD
(signed) “Spiro Kletas”
Spiro Kletas
President and Chief Executive Officer
While Big North intends to re-start the Nuevo San Pedro mine, the Company has not established mineral resources and has not completed a valid mining study (as defined by NI 43-101) to support a production decision. Historically, a production decision under these circumstances results in much higher economic or technical risk. Furthermore, without a pre-feasibility or feasibility study and a graphite reserve, there can be no assurance that operations at Nuevo San Pedro will be profitable.
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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
