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Apella Resources Inc. (TSX.V: APA), (U.S.A. OTCQX: APAFF), and (Frankfurt: NWN) is
very pleased to announce that the Quebec Court, Mines Tribunal,
Administrative and Appeal Division, has rendered a judgment in favour of Apella
Resources Inc. awarding Apella all nine
mining claims which it was seeking in the Lac Dore
Vanadium-Iron-Titanium deposit. Combined with the nine claims
previously awarded to Apella by the Ministere des Ressources
Naturelles et de La Faune
("MRNF"), Apella's claims cover
approximately 95% of the original 100 Mt Lac Dore
Vanadium-Iron-Titanium deposit held by the Province of Quebec as a
crown asset for more than 40 years.
The decision of the Quebec court arises out
of a staking rush over the prized Lac Dore claims in August, 2007. At
that time Apella and another competing
party sought to stake the same claims covering the Lac Dore deposit.
In January, 2010, the MRNF issued a decision awarding nine claims to Apella and two claims to the competing party
while refusing to award the remaining claims to either party. Apella appealed the decision of the MNRF and on
February 23, 2011 the Honourable Francois
Godbout, J.C.Q. awarded the sought after nine claims to Apella.
Patrick D O'Brien, ICD.D, Apella's Chief Executive Officer commented
"this is precisely the outcome we sought, nothing more, nothing
less. Judge Francois Godbout, J.C.Q. made a just and appropriate
decision which now allows Apella to
expeditiously focus on the development of the Lac Dore. In concluding
this lengthy multi-year process Apella has
rightfully gained entitlement for its shareholders to the near
entirety of the Lac Dore, notably, the world's second largest
vanadium deposit. Apella's Board and
Management wish to extend their sincere gratitude to all of the
planners, stakers, geologists, legal
advisors, and consultants; and especially our patient and devoted
shareholders for standing by and supporting us through this long but
achievable undertaking. Our goal has been achieved."
The Lac Dore claims in this matter form a
very important and integral part of the well known Lac Dore Vanadium
Deposit in Chibougamau, Quebec. The
geological setting and mineralization encountered in the Lac Dore
Deposit has many similarities to that of Apella's
100% owned Iron-T Vanadium-Iron-Titanium project located in the Bell
River Complex to the west, and with typical world-class magmatic
Fe-Ti-V oxide deposits associated with a layered intrusive complex.
Most of these deposits that are of producible importance world-wide
are associated with mafic-ultramafic
layered complexes such as the Lake Dor�
Complex; the Windimurra Complex in
Australia; the Panzhihua layered intrusion
in China and the Bushveld Complex in South
Africa. About 39..5% of total world vanadium
production (55 700 t in 2006 (USGS, 2006)) is said to come
from the Bushveld Complex alone, in
particular the Rhovan Mine. The V-Fe-Ti
oxide ores at Bushveld, have one major
disadvantage, in that they are formed by concordant layers varying
from 0.1 m to only 10 m in thickness within the Upper Zone but most
of these layers are relatively thin and less than 30 cm in thickness.
"The economically important Main
Magnetite Layer varies from 1.0 to 2.5 m in thickness and covers a
strike length of 200 km in the western Bushveld
Complex and 120 km in the Eastern Bushveld
Complex" (Reynolds, 1985). The Rhovan
mine is the primary vanadium producer situated within the Western
Lobe of the Bushveld Complex. The mine is
located some 35 km ENE of Rustenburg, South Africa. The vanadium
mineral resource and ore reserve of Rhovan
mine reported by Xstrata Alloys as of September 2007 (Xstrata Alloys,
2008) are:
Proven Ore Reserves - 39.2 Mt @ 0.51% V2O5
Probable Ore Reserves - 10.5 Mt @ 0.53% V2O5
Measured Mineral Resources - 64.4 Mt @ 0.51%
V2O5
Indicated Mineral Resources - 13.7 Mt @
0.53% V2O5
Inferred Mineral Resources - 124.9 Mt @
0.51% V2O5 "
The Lac Dor�
Complex is a Bushveld-type Archean layered mafic
intrusion (Allard, 1976) located some 250 km due east of Matagami in the Chibougamau
mining camp. The Lac Dor� is an advanced
Vanadium project; currently the largest vanadium deposit in North
America, and the second largest in the world. It shows a geological
setting and vanadiferous mineralization
similar to Apella's Iron-T vanadium
project. Unlike the Bushveld, the Lake Dor� Complex itself is 5 to 7 km in thickness.
The magnetite horizons vary from 50 to 200 m in thickness and extend
several km along strike as inferred from airborne magnetic data.
"The Lac Dor� Vanadium deposit at Chibougamau is estimated to host 100.0 Mt grading
0.49% V2O5 including 32.2 Mt of measured
resources at 0.65% V2O5" (Girard and
Allard, 1998). Apella derived these
details from the public domain.
It should be noted that in accordance with
present reporting requirements the potential quantity and grade is
conceptual in nature, that there has been insufficient exploration to
define a mineral resource, and it is uncertain if further exploration
will result in discovery of a mineral resource on the property.
However, it should also be noted for clarification that historically
the Lac Dore deposit was subject to a positive feasibility study in
2003 by SNC-Lavelin for the production of V2O5.
The reader is referred to the USA's EDGAR reporting system to access
and review a copy of the McKenzie Bay International Ltd Executive
Summary.
Apella has concluded that with the ownership of
the aforementioned 18 Lac Dore Vanadium-Iron-Titanium deposit claims,
coupled together with Apella's present 100%
ownership in the near-by Iron-T and Lac Dore North
Vanadium-Iron-Titanium projects, the Company has the potential to
quite rapidly control enough mineralization to propel Apella into the position of having the most
extensive Vanadium assets in the world.
This press release has been reviewed by Dr.
Christian Derosier, P. Geo., Consulting
Geologist and Qualified Person for the Lac Dore, Iron-T and Lac Dore
North Vanadium-Iron-Titanium projects under National Instrument
43-101.
Additional information is contained on the
Company's website at www.apellaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
APELLA RESOURCES INC.
"Patrick D. O'Brien
Patrick D. O'Brien, ICD.D - Director
SEC Exemption 12(g)3-2(b) File no. 82-3822,
Standard & Poors Listed, Dun &
Bradstreet Listed
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.
APELLA RESOURCES INC. will be at the TORONTO
PDAC MINING CONFERENCE Until March 9 at Booth # 3115 and
Adrian Bakker
& Dr.Christian Derosier
will be presenting in the regarding Apella's Lac Dore and Iron-T Vanadium projects in
Quebec. This will be hosted at 11:15AM.
This will be a great opportunity to talk with our Leading Geologist,
Dr. Dr. Christian Derosier, PGeo
and
W. Adrian Bakker
VP of Corporate Communications
Apella Resources Inc.
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Contact W.
Adrian Bakker
Direct Phone:
604.641.4474
Toll Free:
1.800.663.8990 or
Email: w.adrian@apellaresources.com
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