First Bauxite Corporation

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

First Bauxite Corporation is a Canadian natural resources company engaged in the exploration and development of bauxite deposits. The Company has its head-office in Vancouver and its current assets in Guyana, South America and is managed by experienced geoscientists and business development professionals. The mission of First Bauxite is to become a near term, medium size producer and supplier of high quality Refractory A-grade Super Calcined (RASC) bauxite.

PROJECT IN HAND

Bonasika Bauxite Project, Guyana, South America

First Bauxite controls a large land package in Guyana's highly prospective coastal bauxite belt, including the Bonasika Mining License and the Waratilla-Cartwright Prospecting License, covering deposits which were drilled in 1940's - 60's by ALCAN and which host near surface deposits of refractory grade bauxite. First Bauxite has additional upside potential to the metallurgical bauxite business, through an option agreement with Rio Tinto Alcan, whereby Rio can earn up to 75% interest in the Company's exploration ground by expending up to US$58 million in stages.

(1) Bonasika Mining License (100%-owned, 376 hectares)

• Targeting completion of NI 43-101 compliant Feasibility Study within the first quarter of 2010

• Mining license with approved Environmental Permit to mine bauxite

• Initial production as early as first quarter of 2011; annual production level of 100,000 Mt of RASC at an estimated all in production cost of US$200/Mt.

• Bonasika 1 deposit, indicates a raw bauxite average grade of 56% Al2O3 (alumina) at a Cut-off grade of 48% Al2O3.

• An average of 7.0 metres bauxite layer under 7.0 metres of soft overburden, i.e., strip ratio of 1 to 1 (vs. 5:1 and higher on existing operations in Guyana).

• Raw ore will be washed near mine-site; washed ore would be trucked 28 km to the calciners near the Demerara River dock site, at Sand Hill.

  • Washed bauxite will be agglomerated at Sand Hill to increase recovery, improve densification and reduce dust emissions.

  • Modern, energy efficient pressurized vertical shaft kilns will be used to sinter the agglomerated bauxite feed.

First Bauxite has engaged Met-Chem Canada Inc. to conduct a full Feasibility Study of the Bonasika project. The Company expects that the Feasibility Study will be available to it for evaluation during the first quarter of 2010.

(2) Waratilla-Cartwright Prospecting License (100%-owned, 4,000 hectares)

• Historical drilling by ALCAN (64 holes) with historical inferred resource of 25 Mt including 11.9 million Mt of RASC.

• Potential more than 20 years of feed for calciners

• 6 recent drill holes tested one ALCAN zone:

  • Results include intersections of:

    • 9.3 metres of 61.3% Al2O3

    • 6.9 metres of 60.8% Al2O3

• Resource outline drilling commenced in November 2009 with a recently purchased sonic drill.

(3) Essequibo Exploration License (JV with Rio Tinto Alcan, 8,100 sq.km)

• Existing option and joint venture agreement with Rio Tinto over this license (May 2008)

• Rio Tinto solely-funds the next $58 million to vest at 75% in two stages

• Historical data compiled into modern GIS database. Numerous known historical showings documented

Highlights - Summary

• Two advanced projects in Guyana, Bonasika and Waratilla-Cartwright Projects. First Bauxite controls half of the Guyanese bauxite belt.

• Feasibility Study on Bonasika Project to be completed in first quarter of 2010; aiming for production in first quarter of 2011 at an initial annual production rate of 100,000 metric tons of RASC bauxite.

• Resource outline drilling to commence at Waratilla Project in November 2009. New sonic rig purchased for this purpose.

• Favourable location of advanced projects. RASC bauxite will be sold Freight on Board (FOB) at the Company's port on the Demerara River, 45 km upstream from the Atlantic Ocean. Perfect position in relation to marketing of product, access to US, Europe and Asia (via the Pacific Ocean).

• FBX will use calcining technology of 2006, vs. technology of 1940's used by the Chinese producer in Guyana.

• FBX already in direct and indirect discussions with the five biggest refractory consumers in the world (from Europe, US and Japan) - Marketing agreements expected well before commencement of production.

• Unique product: only Guyana and China supply the non-China world's demand for Refractory bauxite.

  • Captive market with finite supply and strong demand

  • High value added product.

MANAGEMENT

Management & Directors

Yannis Tsitos, M.Sc., President and Director
Mr. Tsitos, originally a physicist-geophysicist, has over 20 years experience in the Mining Industry, having spent the last 18 years with BHP Billiton group as Business Development Manager. He has worked on exploration projects and business deals in 32 countries. He has been instrumental in the identification, negotiation and execution of more than 50 exploration agreements and Joint Ventures. Mr. Tsitos has also been a member of discovery teams.

Hilbert N. Shields, M.Sc., Chief Executive Officer and Director
Mr. Shields is a geologist and has over 28 eight years mining and exploration experience in 14 countries. Mr. Shields spent 14 years with Golden Star Resources Inc. as Vice President and was a Director of Omai Gold Mines Ltd. He was a senior member of the management team of the Aroaima Bauxite Mining Company.

Demetreus (Jim) Heras, Chairman and Director
Mr. Heras has over 40 years of experience as a Director of various private and public companies in the mining industry, land development and other real estate ventures. He is a well-known businessman and entrepreneur and during his career as an executive has raised over $100 million dollars in financings. Mr. Heras was Director and Chairman of the Board of St. Philips Resources Inc. He is also Director of Carat Explorations Inc.

Lee Graber, Director
Mr. Graber has over 30 years of relevant experience in the mining industry, including 23 years with Homestake Mining Company. As Vice President, responsible for corporate development, Mr. Graber initiated, managed and closed 55 major acquisitions and divestment transactions totalling $9.2 Billion. Subsequent to Homestake, Mr. Graber served as Managing Director, Mergers and Acquisitions for Endeavour Financial Ltd. in Vancouver, and served as a director of resources companies.

Albert Wu, CMA, MBA, B.Comm., Chief Financial Officer
Mr Wu is a Certified Management Accountant. In the last twenty five years, Mr. Wu has been working with public companies in providing accounting and management services on a part-time basis. He is currently the CFO of First Bauxite Corporation, Carat Resources Inc., Silver Lake Resources Ltd., Urastar Energy Inc. and Pacific Imperial Mines Inc., all of which are public companies listed on the TSX Venture Exchange.

Harry Katevatis, B.A., Director
Mr. Katevatis is President of Lakithra Management Corporation and a Director of Totem Minerals Inc. 

Marsha Panar , Director
Ms. Panar has been a civil servant with the British Columbia Ministry of Human Resources from 1974 to present. Ms. Panar has been a Director of Carat Exploration Inc. since 2003 to present.

NEWS UPDATE

On October 27, 2009, First Bauxite Corp. announced that it has entered into an agreement with Met-Chem Canada Inc. ("Met-Chem") of Montreal, Quebec whereby Met-Chem has been engaged to conduct a full Feasibility Study of the Company's 100%-owned Bonasika bauxite deposits in Guyana. The Company expects that the Feasibility Study will be available to it for evaluation during the first quarter of 2010.

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