MBAC Files Technical Report on the Santana Phosphate Project
OTCQX : MBCFF
Shares Outstanding: 110,926,614
Fully Diluted: 120,044,030
TORONTO, June 8, 2012 /CNW/ - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC and OTCQX:MBCFF) announced that it has filed a technical report prepared in accordance with National Instrument 43-101, entitled "Pre-Feasibility Study (PFS) - Santana Phosphate Project - Para State, Brazil" (the "Technical Report") with Canadian securities regulators, pursuant to the Company's news release dated April 23, 2012.
The Technical Report dated effective June 7, 2012 was prepared by Beau Nicholls, BSc (Geo) MAIG and Ian Dreyer, BSc (Geo) MAusIMM (CP), each of Andes Mining Services Ltd., Carlos Guzman, Mining Engineer, Registered Member of the Chilean Mining Commission, of NCL Brasil Ltda, and Robert Alexander, Registered Professional Engineer, Florida, USA, of PegasusTSI Inc. 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.