The Philippine subsidiary of MBMI Resource has completed its first nickel material shipment from the Alpha Nickel project in the Philippines.

Approximately 53,000 wet metric tonnes of nickel material averaging 1.9% nickel per tonne has been shipped to a Chinese nickel consumer.

The milestone marks the emergence of the Alpha project as a nickel material supplier to the Asian market.

More than 110,000 wet metric tonnes of mineralized nickel material has been excavated and transported to the stock yard where it has been prepared for shipment to potential Asian nickel consumers.

MBMI's subsidiaries have been issued three small scale mine operating (SSMO) permits by the government of the Philippines with respect to Alpha. The SSMO's allow the shipment of up to 50,000 dry metric tonnes of material per permit per year for a two year period.

The Philippine government has not yet granted full mineral tenement rights to Alpha and only small scale mining operations can be carried out in accordance with government regulations and not the right to commence full scale commercial production.

The company and its Philippine subsidiaries continue to make progress with Financial and Technical Assistance Agreement applications on the Palawan nickel projects which once granted would allow full scale commercial production.

The company has not yet established a mineral resource or reserve in accordance with CIM classifications pursuant to NI 43-101 that would support a commercial mining operation and there is no guarantee that the current small scale operations will be economic.

MBMI's subsidiaries control eight nickel laterite projects in Palawan and Samar, Philippines covering an area greater than 22,000 hectares.

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