First Bauxite Corporation Announces Signing of Off-Take Letters of Intent; Appointment of General Manager; and Commencement o...

First Bauxite Corporation ("First Bauxite" or the "Company") (TSX
VENTURE:FBX)(FRANKFURT:FBI)(BERLIN:FBI) is pleased to announce that it has now
signed a total of 11 Letters of Intent ("LOI's") to enter into Sintered Bauxite
Supply Off-Take Agreements ("Off-Take Agreements") with global refractory
products manufacturers in North America and Europe, representing approximately
70% of the anticipated 100,000 tonnes of initial annual production(i) from the
Company's Bonasika Sintered Bauxite Project (the "Bonasika Project"). The LOI's
commit both parties to conclude multi-year Off-Take Agreements based on terms
which have been set out in the LOI's. 


The signing of these LOI's are a direct result of the work of our technical and
marketing team to build long term relationships with potential customers on all
continents, who could be end users of the Company's Guysin(R) product and to
whom "lab-scale" manufactured Guysin(R) samples were distributed for qualifying
in their own test facilities. The strong interest demonstrated by the
willingness of the potential customers to enter into LOI's at this time
indicates that this test work was positive. In addition, some potential
customers have requested larger samples for further "in service" testing.


(i) See the Bankable Feasibility Study Update dated November 18, 2011 available
under the Company's profile at www.SEDAR.com or on the Company's website at
website at www.firstbauxite.com. 


Appointment of General Manager

The Company is also very pleased to announce the appointment of Mr. Craig
Searchfield to its technical team, as General Manager of the Bonasika Project,
effective February 1, 2013. Mr. Searchfield brings over 22 years of experience
in the industrial and refractory minerals space, including extensive knowledge
of the operation of vertical shaft kilns. During the last 18 years, until its
sale to Sibelco, Mr. Searchfield has held Production Engineer, Production
Manager, and General Manager roles for Queensland Magnesia Pty Ltd, one of the
world's largest producers of magnesia for the global refractory and chemical
markets. Mr. Searchfield holds a Bachelor of Applied Science degree from the
University of Central Queensland and Masters of Business Administration and
Technology degree from the University of New South Wales.


Commencement of Proppants Study

The Company has engaged consulting firms, with expertise in the application and
manufacturing of proppants normally used in the Oil & Gas industry for well
completion, particularly in the emerging oil and shale gas plays. Ceramic
proppants are extensively used in the shale gas and oil plays currently
experiencing a boom in the USA. The consultants will assist the company in
conducting a Preliminary Economic Assessment ("PEA") level study of the
viability of manufacturing bauxite-based ceramic proppants from rejected bauxite
from its Guysin(R) plant and/or bauxite ore mined directly from the Bonasika 1,
2, & 5 deposits. The Bankable Feasibility Study Update(i), announced on October
6, 2011, did not include the Bonasika 1, 2 & 5 deposits, so potential entry into
proppants manufacture would maximize utilization of all the company's known
bauxite resources and would be accretive to and, potentially enhance, the
returns of the Bonasika Project. The global demand for ceramic proppants is
forecast to grow strongly, both in the USA and worldwide as the hydraulic
fracturing application in the Oil & Gas industry becomes better understood and
more countries permit "fracking". First Bauxite currently has bench level test
work underway to make proppants from Bonasika 1 bauxite and to evaluate the
products made for compliance with industry requirements. 


"While we work to quantify the value that proppants can add to First Bauxite, we
are still very much focused on gearing up to build the Bonasika Project, as
attested to by Craig joining the management team and the LOI's we have entered
into," stated Hilbert N Shields, President & CEO. "Securing financing for the
development of the Bonasika Project is still our primary objective."


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. First Bauxite controls a large land package in Guyana's
historical coastal bauxite belt, including the Bonasika Mining License and
twenty (20) Prospecting Licenses in the Essequibo-Demerara area. The Company has
also applied for a Permission for Geophysical and Geological Survey ("PGGS")
over a large area in Northeast Guyana that encompasses the two (2) Tarakulli
Prospecting Licenses previously held by the Company. The Company's Bankable
Feasibility Study Update defines and confirms the economic viability of an
operation based on sequential mining of two (2) bauxite deposits (Bonasika 6 and
Bonasika 7), and the construction of a washing plant facility, a sintering
plant, and load out facilities, at Sand Hills. The Bonasika 1, 2 and 5 deposits
are additional value and would increase the mine life from 36 years to 44.5
years. 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 "intent", "anticipated", "potential", "could", "will",
"would", "forecast" and similar expressions. These statements include, but are
not limited to, statements regarding  the conclusion of multi-year Off-Take
Agreements. 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, including but not
limited to, the accuracy of the Bonasika Feasibility Study Update, the
continuing interest of LOI counterparties to negotiate and conclude off-take
agreements and the continuing use and growth of global demand for ceramic
proppants. 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, competition or changes in the global sintered
bauxite and/or ceramic proppants markets, 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 Annual Information Form,
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. Unless otherwise indicated, forward-looking
statements in this release describe the Company's expectations as of February
13, 2013.


FOR FURTHER INFORMATION PLEASE CONTACT: 
First Bauxite Corporation
Hilbert N. Shields
President & CEO
416-613-0910
www.firstbauxite.com