First Bauxite Corporation Announces Filing of First Quarter Financial Statements and MD&A and Issuance of Stock Options

First Bauxite Corporation Announces Filing of First Quarter Financial Statements and MD&A and Issuance of Stock Options
  
 

TORONTO, ONTARIO--(Marketwired - Feb 26, 2014) - FIRST BAUXITE CORPORATION (TSX-VENTURE:FBX)(FRANKFURT:FBI)(BERLIN:FBI) ("First Bauxite" or the "Company") is pleased to announce that it has filed its first quarter financial statements and management's discussion and analysis for the period ended December 31, 2013. Both are available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.firstbauxite.com.

Also, the Company is pleased to announce that it has granted incentive stock options for the purchase of up to an aggregate of 450,000 common shares of the Company at an exercise price of $0.20 for a five-year period to certain directors and an officer of the Company.

About First Bauxite

First Bauxite Corporation (TSX-VENTURE:FBX) is a Canadian natural resource company engaged in the exploration and development of bauxite deposits in Guyana, South America. The Company has its head office in Toronto and is managed by experienced geoscientists and business development professionals with worldwide experience in the exploration and mining business across a number of mineral commodities. The mission of First Bauxite is to become a near term, medium size producer and supplier of high quality refractory grade sintered (calcined) bauxite. For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.

On behalf of The Board of Directors of First Bauxite Corporation

Hilbert N. Shields, President & CEO

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "developing", "will", "move forward", "next", "obtaining", "constructing" and similar expressions. These statements include, but are not limited to, statements regarding the continued advancement of the Bonasika Bauxite Project. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the effect of capital market conditions and other factors on capital availability; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined and other risks more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

First Bauxite CorporationHilbert N. Shields, President & CEO416-613-0910www.firstbauxite.com