Perlite Canada Inc. Announces Its Results for Fiscal Year 2010-2011

Perlite Canada inc. (the "Company") (TSX VENTURE:PCI) announces hereby the
results for the year ended October 31, 2011 ("Fiscal Year 2011").


The Company generated sales of $6,529,531 during Fiscal Year 2011 comparatively
to $6,771,614 during Fiscal Year 2010, namely a 3.6 % sales decrease.


The Company recorded a loss before other expenses and other income of $209,103
comparatively to a loss before other expenses and other income of $351,005 for
Fiscal Year 2010, a decrease of approximately 40 %, and a loss before other
expenses and other income of $626,417 for Fiscal Year 2009, a decrease of
approximately 67 %.


The Company recorded other expenses totalling $532,112 as well as other income
of $73,521 for Fiscal Year 2011 while it had recorded other expenses totalling
$275,617 and other income of $114,286 for Fiscal Year 2010. Consequently, the
Company recorded a loss before income taxes of $667,694 for Fiscal Year 2011
comparatively to a loss before income taxes of $512,336 for Fiscal Year 2010.
This increase for the loss before income taxes is explained by the increase of
the amount of expenses mentioned above.


The Company recorded a net loss of $631,330 for fiscal year 2011 while it had
recorded a net loss of $335,780 in 2010. The increase of the net loss is mainly
attributable to the other expenses mentioned above and the diminution of the
amount of recoverable and future income taxes which totalled $36,364 for Fiscal
Year 2011 while it totalled $176,556 for Fiscal Year 2010. This diminution of
future income taxes is explained by the uncertainty for the Company to be able
to use these future tax amounts.


The offer to purchase dated as of February 16 2011, for the sale of real
properties and some assets located in Baie-du-Febvre in consideration of a
purchase price of $250,000 has been cancelled because the offeror has not been
able to obtain the required municipal authorizations to realize the transaction.
Consequently, the Company has not been able to complete the sale of these assets
during Fiscal Year 2011. As at January 5, 2012, the Company accepted a
conditional offer for the purchase of the buildings and other assets located in
Baie-du-Febvre in consideration of a purchase price of $125,000, payable as
follows: i) $75,000 cash at the closing of the transaction, ii) $25,000 at the
first anniversary of the transaction and iii) $25,000 at the second anniversary
of the transaction. This purchase offer is conditional in obtaining the required
municipal authorizations and is valid until December 31, 2012. 


Perlite Canada inc. has become a leading company in Canada in the processing,
distribution and sale of perlite and vermiculite, two minerals used in industry
and horticulture.


The common shares of Perlite Canada inc. are listed for trading on the TSX
Venture Exchange.


This press release contains forward-looking statements to which are associated
some risks and uncertainties. Any statement contained in this present press
release that does not constitute an historical fact can be considered as a
forward-looking statement. In this present press release, verbs such as
"believe", "anticipate", "assess" and other similar expressions indicate
generally forward-looking statements. Those statements do not warrant as for the
future performance of Perlite Canada inc. and they suppose known and unknown
risks as well as uncertainties in such a way that true future perspectives,
returns or results of the Company may be notably different of future returns or
results expressed or implied by these forward-looking statements.