First Bauxite Corporation Completes Mining of Bulk Sample Pit at Bonasika

TORONTO, ONTARIO--(Marketwired - May 2, 2016) - First Bauxite Corporation ("First Bauxite" or the "Company") (TSX VENTURE:FBX)(FRANKFURT:FBI)(BERLIN:FBI) is pleased to announce that it has completed a bulk sample test pit programme at its Bonasika 7 bauxite deposit.

The Company's News Release dated December 8, 2015 provided a general update on the expected use of proceeds from the US$15 million private placement of secured convertible notes to Resource Capital Fund VI LP. This included using a portion of the proceeds to undertake a bulk sample pit programme to confirm mining and processing assumptions in the Bonasika Project Feasibility Study ("FS") and to produce industrial scale volumes of ceramic proppants in a full scale ceramic proppant production facility.

Bulk Test Pit Programme

Pit preparation, mining and ore beneficiation in the Bonasika 7 deposit commenced in October 2015 and was completed in March 2016. Final production volumes were consistent with the FS geological block model as follows:

Geological Block Model Reconciliation ('000mt)
	Waste	DFB	RGB	Total
Estimated Geological Block Model Volumes	69.4	17.7	12.0	99.1
Actual In Pit Progress Surveyed Volumes	59.8	17.2	14.1	91.1
Actual Recoverable Surveyed Volumes	N/A	15.5	11.2	N/A

Notes:

1. Direct Feed Bauxite (DFB).
2. Regular Grade Bauxite (RGB).
3. The difference between estimated and actual in pit progress surveyed waste volumes is a result of assumptions used in the bulk estimation of the overburden quantities. Accurate individual quantities of the overburden lithologies were unable to be ascertained from the drill hole logs and an average density of 1.8 mt/m³ was used to obtain estimated volumes. However, actual mining enabled the various waste lithologies and densities to be calculated with greater accuracy.
4. The difference between estimated and actual in pit progress surveyed DFB volumes is a result of cautious selective mining to avoid contamination of the target DFB ore which resulted in the loss of DFB to the overlying and underlying RGB horizons.
5. The difference between actual in-pit progress and recoverable surveyed DFB volumes is a result of DFB material lost to the stockpile base to avoid contamination.
6. The difference between estimated and actual in pit progress surveyed RGB volumes is a result of cautious selective mining to avoid contamination of the target DFB ore which resulted in more ore reporting to the overlying and underlying RGB horizons.
7. The difference between actual in-pit progress and recoverable surveyed RGB volumes is a result of RGB material used to repair haul roads and also lost to the stockpile base to avoid contamination.

3,000mt of DFB and 100mt of RGB was screened, crushed, dried and bagged for shipment to an offshore ceramic proppant production facility ("CP Facility"). Final production assay results were consistent with the FS geological block model as follows: