Femin Inc.
Femin Inc.: FEMIN INC. SECOND BATCH OF ASSAYS CONTINUE TO CONFIRM ECONOMIC GRADE IRON ORE ON THE FEBRA PROJECT Febra Project has the capability to produce over 20 million tonnes of iron ore per year
Femin Inc. / Key word(s): Miscellaneous 25.10.2011 / 08:00 --------------------------------------------------------------------- Toronto ON - Femin Inc. (FRA-FJM) ('Femin') is pleased to announce the second round of assay results from its diamond drilling program on the Febra Project. The drilling program continues through the month of October and has thus far drilled over 5,200 meters in 35 completed or in progress holes. The second batch of assays have been received and evaluated for holes 06 through 10 from the program and are shown in the table below. All of the holes reported below have ended in iron ore, which indicates the resource to be deeper and potentially larger than anticipated. As a result, and as Femin has reported in August 26th News Release, we expanded the initial drill program from 4,500 meters to at least 6,500 meters to allow us to drill deeper into the resource to verify as much of the deposit as possible while maintaining drill coverage horizontally along strike. Hole 06 intersected to a length of over 194 meters with an average grade of 26.9% Fe. Hole 10 intersected a 16.9 meter interval which assayed at 48.6% Fe which confirms the existence of the high grade shear zone which is detailed in our scoping study and referred to in previous news releases. Febra Property, Drilling Results Hole Number Zone From (m) To (m) Length (m) Fe-tot%* Comment HDMCL-S-06 Sobrado 90 2034 1944 269 Hole ended in Iron-formation HDMCL-S-07 Sobrado 59 630 572 251 Hole ended in Iron-formation HDMCL-S-08 Sobrado 60 580 520 268 Hole ended in Iron-formation HDMCL-S-09 Sobrado 160 540 380 232 Hole ended in Iron-formation HDMCL-S-10 Sobrado 341 510 169 486 Hole ended in Iron-formation * Total Fe in weight percent from XRF method on fused disk CEO Update CEO Alex Stewart says 'These initial drill results are encouraging and further confirm the findings of the scoping study. Management believes that average grades of 20% or above will be economic. Of particular interest are the results of holes 6 and 10. Hole 6 indicates extended continuity of the iron ore body over 194.4 meters while hole 10 confirms the existence of the high grade shear zone grading over 48% iron in the hole. This higher grade iron ore will result in both a higher quality product and lower operating costs. The Febra Project has the capability to produce over 20 million tonnes of iron ore per year which translates into an estimated net cash flow to Femin of roughly $700,000,000 per year for the estimated 40 year life span of the mine. Femin is positioned in an opportunistic period as the Chinese and Indian markets are in the midst of their own industrial revolutions which is expect to maintain strong demand for iron ore over the next two decades. Iron ore is currently the world's second most used commodity after oil such that Femin is in an advantageous position to experience strong economic growth. Finally with the Febra Project's excellent access to transportation and infrastructure management believes it can operate as one of the lower cost producers and thus maintain a competitive advantage in the market place. ** END OF PRESS RELEASE ** About Femin Inc. Femin Inc. is a mineral exploration and development company located in Toronto, Canada. The Company was established in 2010 and its primary focus is the Febra Iron Project, which is a substantial iron deposit located in the State of Bahia, Brazil. Femin's management team has extensive experience in the exploration and development of mineral deposits all over the world. Femin Inc.'s shares (Wkn: A1H50Q / ISIN: CA31502Y1034) are listed for trading on the Frankfurt Stock Exchange, Open Market. This news release may contain certain forward-looking statements, expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the management of Femin Inc. as of the date hereof, and actual results may vary based upon future events, both within and without the control of the management, including risks and uncertainties that could cause actual results to differ materially. Management does not take any responsibility to update the contents of this News Release in case new aspects arise or new conditions change the facts available. Femin Inc. 2500 - 120 Adelaide Street West, Toronto/Canada, M5H 1T1 For further information, please contact: Alexander Stewart, CEO Phone: (416) 644-1179 E-mail:astewart@femin.ca Stephen Stewart, VP Phone : (416) 644-1179 Email : sstewart@femin.ca Homepage: www.femin.ca End of Corporate News --------------------------------------------------------------------- 25.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 143268 25.10.2011
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