SAGUENAY, QUEBEC - (April 17, 2015) - Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, has been informed of an intention to seek arbitration (the “Notice”) from former consultants claiming a commission resulting from an alleged financing. The claim arises from a one year service contract entered into between the Company and the consultants in June 2010. The consultants claim that they are entitled to receive payment of a commission equal to 5% on a financing of $200M. This alleged financing was never obtained by Arianne. After a review of the Notice, the Company considers this claim to be frivolous and without merit. Arianne will vigorously defend itself against such an unfounded procedure and is presently considering all available actions that it may take against the claimants in order to protect its rights and reputation, including seeking damages.
About Arianne Phosphate
Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 95,325,755 million shares outstanding.
Neither 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.
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