Big North Files NI43-101 Technical Report on El Tejon Property
Friday, February 28, 2014 9:00 AM
Vancouver, B.C., February 28, 2014 - BIG NORTH GRAPHITE CORP. (TSX-V: NRT) (OTC: BNCIF)(the "Company" or "Big North"), announced today that a National Instrument 43-101 technical report dated effective February 14, 2014, has been filed by the Company and is available on SEDAR under the Company's profile. The technical report is entitled "El Tejon Graphite Project" and was prepared by R. Tim Henneberry, P. Eng., an independent "qualified person" as defined by National Instrument 43-101.
As previously disclosed in the Company's news release dated February 5, 2014, the Company entered into a share purchase agreement (the "Agreement") with MAG Exploration Services Inc. and Cesar Javier Guajardo Villareal (together, the "Vendors"). Pursuant to the terms of the Agreement, Big North will acquire all of the shares of Grafito de Mexico, S.A. de C.V. ("Grafito"), held by the Vendors (which shares represent 97.5% of the issued and outstanding share capital of Grafito. Grafito is the registered and beneficial owner of the El Tejon property.
The El Tejon property is 500 hectares and is comprised of both, the El Tejon flake graphite mine and an existing mill (the "El Tejon Property"). The El Tejon Property is located in the state of Oaxaca, approx 38 kilometers Northwest of the City of Oaxaca, in the town of San Francisco Telixtlahuaca.
The El Tejon Property is the only flake graphite mine to have produced in Mexico. The mine and mill were originally built in 1980. In 1989, a second processing line was installed to increase the capacity. El Tejon was an open pit mine, and the mill was used to crush, mill, float, dry, screen and pack final product. The mine was operated until 2002 and closed due to low graphite prices.
About Big North Graphite Corp.
Big North is a graphite development and exploration company focused on select projects in Mexico and Canada. The Company 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 is currently in the Test Mining phase at Nuevo San Pedro and has completed sales of amorphous graphite totaling 760 tons to date.
Big North has started the assembly of a processing plant that will be used for crushing, screening, sizing and drying of amorphous graphite to the specifications of future customers. Further, the Company has commenced a strategy of buying unprocessed amorphous graphite from local miners who do not possess the ability to process or ship to end users.
Recently, Big North acquired the El Tejon Flake Graphite Mine and Mill in Oaxaca, Mexico.
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"
President and Chief Executive Officer
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.