Arianne Phosphate: publishes its social and financial results for the first quarter of 2022

SAGUENAY, QUEBEC – (May 25, 2022) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N)a development-stage phosphate mining company advancing its Lac à Paul project in the Saguenay-Lac-Saint-Jean region of Quebec, announced its financial results for the quarter ended March 31, 2022. All amounts are in Canadian dollars, unless otherwise specified. .

“The year has started well,” said Brian Ostroff, president of Arianne Phosphate. “Arianne has successfully gained traction in the agriculture and battery markets and, with our most recent results demonstrating our ability to optimize our concentrate for these specific markets, has continued to draw attention to our company. Additionally, supply disruptions caused by recent geopolitical events have reignited concerns about “security of supply” and underscored the importance of access to quality material from a quality jurisdiction.”

Financial and operational highlights

  • In February 2022, Arianne launched a research program in collaboration with the Environment and Biotechnology Research Group of Cégep Rivière-de-Loup aimed at developing a new breed of fertilizer from organic waste and the concentrate of Arianne’s high-purity, low-contaminant phosphate. .

  • On April 1, 2022, the Company issued 4,166,096 common shares at a price of $0.512 per share, in lieu of cash, as an annual interest payment to Mercury Financing Corp. as of March 31, 2022. The Company has chosen to pay in common shares, these issued securities being subject to a lock-up period ending on August 2, 2022.

  • In April 2022, Arianne entered into a collaboration with Northern Nutrients of Saskatchewan, Canada to advance the use of its high purity phosphate concentrate in alternatively derived fertilizers. The benefits of this work would be the ability to integrate the Company’s phosphate concentrate directly into fertilizers without having to first transform it by acidulation.

  • In May 2022, the Company announced that it had successfully tested an improved process that will allow it to optimize its high purity phosphate concentrate for specific end markets. In collaboration with Corem, Arianne has produced both low MER (minor element ratio) and higher MER phosphate concentrate using high intensity magnetic separation. The results demonstrated that Arianne’s phosphate concentrate can be further optimized to meet target markets with a simple addition to the process flow sheet. The low MER material is attractive to those seeking specialty phosphate applications, such as the high purity acid used in lithium-iron-phosphate (“LFP”) batteries, while the higher MER concentrate would be attractive for direct application fertilizers, as it would be higher in beneficial micronutrients like iron.

Financial Summary

Arianne is a development-stage business and as such did not generate positive revenue or cash flow in the first quarter of 2022. During the first quarter ended March 31, 2022, the Company incurred net losses of $1.3 million (M) for the quarter period. For the same period in 2021, the net loss incurred was $4.4 million for the three-month period. The lower loss in 2022 is explained by borrowing costs which were higher in 2021 due to the quota share conversion of the loans which created a loss on conversion and the extension of the line of credit to the Q1 2021. These costs are non-cash.

Arianne’s management report and condensed interim consolidated financial statements for the three-month period ended March 31, 2022 are available on the Company’s website and on SEDAR at www.sedar.com.

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 Saint-Jean region of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (feasibility study published in 2013). The Company has 189,969,848 shares outstanding.

QualifiedThe person

Raphael Gaudreault, P.Eng., NI 43-101 Qualified Person, has approved this release. Mr. Gaudreault is also the Company’s Chief Operating 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.

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Contact information:

Source: Raphaël Gaudreault, Chief Operating Officer Tel. : 418-590-1318 [email protected]

Information: Brian Ostroff, President Tel. : 514-908-4202 [email protected]

Follow Ariane on:

Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
Youtube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing News: http://resourceinvestingnews.com/?s=Arianne

Cautions Regarding Forward-Looking Information

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities regulations in Canada and the United States (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, the expected quality and production of apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “planned”, “estimates”, forecasts, “intends”, “plans” or “believes”, or negative forms thereof or variations of such words and phrases or statements that certain actions, events or results “could”, “could”, “might “, “could” or “will” be taken, occur or be achieved. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied. by such forward-looking information, including, but not limited to: volatile stock prices; risks related to changes in commodity prices; sources and cost of electrical installations; estimation of initial and maintenance capital requirements; estimating labor and operating costs; general world markets and economic conditions; the risk associated with the exploration, development and exploitation of mineral deposits; estimation of mineral reserves and resources; risks associated with uninsurable risks arising during exploration, development and production; risks associated with currency fluctuations; environmental risks; the competition encountered to recruit experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; risks associated with changes to the mining regulatory regime governing the Company; completion of the environmental assessment process; risks relating to regulatory and approval delays; risks related to potential conflicts of interest; dependence on key personnel; financing, capitalization and liquidity risks, including the risk that the financing necessary to fund continued exploration and development activities at the Lac à Paul project may not be available on satisfactory terms, if at all; the risk of potential dilution by the issuance of ordinary shares; the risk of litigation. Forward-looking information is based on assumptions that management believes to be reasonable at the time such statements are made, including, but not limited to, continued exploration activities, the absence of material adverse change in the prices of raw materials, exploration and development plans proceeding in accordance with plans and such plans achieve their stated expected results, the receipt of required regulatory approval and the other assumptions and factors set forth herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

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