NIOBIUM-TANTALUM STUDY: Scoping done, feasibility next at Anita property

QUEBEC — MDN Inc. of Montreal has completed the scoping study and is proceeding with the feasibility study at the Anita niobium-tantalum project north of Lac St-Jean. MDN holds the property under option from Mineraux Crevier.

The scoping study outlines an indicated resource of 24.5 million tonnes and an inferred portion of 1.3 million tonnes. An open pit mine and 4,000-t/d concentrator are planned. Head grades would average 0.170% Nb₂O₅ and 181 ppm Ta₂O₅. Estimated annual production over 18 years would be 1.68 million kg Nb₂O₅ and 170,000 kg of TaK₂F₇. A pre-production investment of $315.6 million is planned. The project would generate average annual revenues of $125 million with annual net operating cash flows of $57.5 million beginning in 2013.

The feasibility study is to be completed by the first half of 2011. Additional information is available in the news release dated Jan. 29, 2010, at www.MDN-Mines.com.