MBAC files Technical Report on the Araxá Rare Earth Oxide-Phosphate-Niobium Project
TORONTO, June 27, 2012 /PRNewswire/ - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX: MBC) (OTCQX: MBCFF) announced that it has filed a technical report pursuant to National Instrument 43-101, entitled "Mineral Resource Estimate - Araxá Rare Earth Oxide-Phosphate-Niobium Project, Minas Gerais State, Brazil" (the "Technical Report") with Canadian securities regulators, pursuant to the Company's news release dated June 19, 2012.
The Technical Report dated effective June 1, 2012 was prepared by Bradley Ackroyd, BSc (Geo) MAIG, Consulting Geologist of Andes Mining Services Ltd. The Technical Report is available at www.sedar.com.
MBAC is focused on becoming a significant integrated producer of phosphate and potash fertilizers in the Brazilian and Latin American markets. MBAC has an experienced team with over 150 years of combined experience in the business of fertilizer operations, management, marketing and finance within Brazil. In October 2008, MBAC acquired Itafós Mineração Ltda, which consisted of a phosphate mine, a mill and plant and related infrastructure, all located in central Brazil. MBAC's exploration portfolio includes a number of additional exciting phosphate and potash projects, which are also located in Brazil. The Santana Phosphate project is a high grade phosphate deposit located in close proximity to the largest fertilizer market of Mato Grosso State and animal feed market of Pará State. The Company continues to search for additional fertilizer opportunities in the Brazilian and other Latin-American markets, where strong agricultural fundamentals and unique opportunities are expected to provide attractive growth opportunities in the near future. Further information on MBAC can be found on the Company's website at www.mbacfert.com and on SEDAR at www.sedar.com.
Vice Chairman & Chief Executive Officer
SOURCE MBAC Fertilizer Corp.