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First Bauxite Corporation Announces Signing of Off-Take Letters of Intent; Appointment of General Manager; and Commencement of

First Bauxite Corporation Announces Signing of Off-Take Letters of Intent; 
Appointment of General Manager; and Commencement of Proppants
Study 
Off-Take Letters of Intent 
TORONTO, ONTARIO -- (Marketwire) -- 02/14/13 -- First Bauxite
Corporation ("First Bauxite" or the "Company") (TSX
VENTURE:FBX)(FRANKFURT:FBI)(BERLIN:FBI) is pleased to announce that
it has now signed a total of 11 Letters of Intent ("LOI's") to enter
into Sintered Bauxite Supply Off-Take Agreements ("Off-Take
Agreements") with global refractory products manufacturers in North
America and Europe, representing approximately 70% of the anticipated
100,000 tonnes of initial annual production(i) from the Company's
Bonasika Sintered Bauxite Project (the "Bonasika Project"). The LOI's
commit both parties to conclude multi-year Off-Take Agreements based
on terms which have been set out in the LOI's.  
The signing of these LOI's are a direct result of the work of our
technical and marketing team to build long term relationships with
potential customers on all continents, who could be end users of the
Company's Guysin(R) product and to whom "lab-scale" manufactured
Guysin(R) samples were distributed for qualifying in their own test
facilities. The strong interest demonstrated by the willingness of
the potential customers to enter into LOI's at this time indicates
that this test work was positive. In addition, some potential
customers have requested larger samples for further "in service"
testing. 
(i) See the Bankable Feasibility Study Update dated November 18, 2011
available under the Company's profile at www.SEDAR.com or on the
Company's website at website at www.firstbauxite.com.  
Appointment of General Manager 
The Company is also very pleased to announce the appointment of Mr.
Craig Searchfield to its technical team, as General Manager of the
Bonasika Project, effective February 1, 2013. Mr. Searchfield brings
over 22 years of experience in the industrial and refractory minerals
space, including extensive knowledge of the operation of vertical
shaft kilns. During the last 18 years, until its sale to Sibelco, Mr.
Searchfield has held Production Engineer, Production Manager, and
General Manager roles for Queensland Magnesia Pty Ltd, one of the
world's largest producers of magnesia for the gl
obal refractory and
chemical markets. Mr. Searchfield holds a Bachelor of Applied Science
degree from the University of Central Queensland and Masters of
Business Administration and Technology degree from the University of
New South Wales. 
Commencement of Proppants Study 
The Company has engaged consulting firms, with expertise in the
application and manufacturing of proppants normally used in the Oil &
Gas industry for well completion, particularly in the emerging oil
and shale gas plays. Ceramic proppants are extensively used in the
shale gas and oil plays currently experiencing a boom in the USA. The
consultants will assist the company in conducting a Preliminary
Economic Assessment ("PEA") level study of the viability of
manufacturing bauxite-based ceramic proppants from rejected bauxite
from its Guysin(R) plant and/or bauxite ore mined directly from the
Bonasika 1, 2, & 5 deposits. The Bankable Feasibility Study
Update(i), announced on October 6, 2011, did not include the Bonasika
1, 2 & 5 deposits, so potential entry into proppants manufacture
would maximize utilization of all the company's known bauxite
resources and would be accretive to and, potentially enhance, the
returns of the Bonasika Project. The global demand for ceramic
proppants is forecast to grow strongly, both in the USA and worldwide
as the hydraulic fracturing application in the Oil & Gas industry
becomes better understood and more countries permit "fracking". First
Bauxite currently has bench level test work underway to make
proppants from Bonasika 1 bauxite and to evaluate the products made
for compliance with industry requirements.  
"While we work to quantify the value that proppants can add to First
Bauxite, we are still very much focused on gearing up to build the
Bonasika Project, as attested to by Craig joining the management team
and the LOI's we have entered into," stated Hilbert N Shields,
President & CEO. "Securing financing for the development of the
Bonasika Project is still our primary objective." 
About First Bauxite  
First Bauxite Corporation (TSX VENTURE:FBX) is a Canadian natural
resource company engaged in the exploration and development of
bauxite deposits in Guyana, South America. The Company has its head
office in Toronto and is managed by experienced geoscientists and
business development professionals with worldwide experience in the
exploration and mining business across a number of mineral
commodities. The mission of First Bauxite is to become a near term,
medium size producer and supplier of high quality refractory grade
sintered (calcined) bauxite. First Bauxite controls a large land
package in Guyana's historical coastal bauxite belt, including the
Bonasika Mining License and twenty (20) Prospecting Licenses in the
Essequibo-Demerara area. The Company has also applied for a
Permission for Geophysical and Geological Survey ("PGGS") over a
large area in Northeast Guyana that encompasses the two (2) Tarakulli
Prospecting Licenses previously held by the Company. The Company's
Bankable Feasibility Study Update defines and confirms the economic
viability of an operation based on sequential mining of two (2)
bauxite deposits (Bonasika 6 and Bonasika 7), and the construction of
a washing plant facility, a sintering plant, and load out facilities,
at Sand Hills. The Bonasika 1, 2 and 5 deposits are additional value
and would increase the mine life from 36 years to 44.5 years. For
further information on First Bauxite Corporation, please visit our
corporate website at www.firstbauxite.com. 
On behalf of The Board of Directors of First Bauxite Corporation 
Hilbert N. Shields, President & CEO  
Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on
the business. Forward-looking statements may include words such as
"intent", "anticipated", "potential", "could", "will", "would",
"forecast" and similar expressions. These statements include, but are
not limited to, statements regarding  the conclusion of multi-year
Off-Take Agreements. These forward- looking statements are based on
current expectations and entail various risks and uncertainties.
Actual results may materially differ from expectations, if known and
unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate, including but not limited
to, the accuracy of the Bonasika Feasibility Study Update, the
continuing interest of LOI counterparties to negotiate and conclude
off-take agreements and the continuing use and growth of global
demand for ceramic proppants. Factors that could cause results or
events to differ materially from current expectations expressed or
implied by the forward-looking statements, include, but are not
limited to, competition or changes in the global sintered bauxite
and/or ceramic proppants markets, the effect of capital market
conditions and other factors on capital availability; availability of
sufficient financing to fund planned or further required work in a
timely manner and on acceptable terms; changes in project parameters
as plans continue to be refined and other risks more fully described
in the Company's Annual Inform
ation Form, which is available on SEDAR
at www.sedar.com. Readers are cautioned not to place undue reliance
on the forward-looking statements contained in this press release.
Except as required by law, the Company assumes no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or any other reason. Unless
otherwise indicated, forward-looking statements in this release
describe the Company's expectations as of February 13, 2013. 
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. 
Contacts:
First Bauxite Corporation
Hilbert N. Shields
President & CEO
416-613-0910
www.firstbauxite.com
 
 
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