Resource World Magazine

j u n e / j u l y 2 0 1 4 www.resourceworld.com 35 Dra_v3 FINAL 14.05.21 Victory Silica FINAL Victory TSX:NI www.victorysilica.ca 416.363.8527 7P Plant in operation, Medicine Hat, Alberta THE NEW NamE in Frac Sand Why Victory Silica? • Very strong market for frac sand • Near-term cash flow (2014) • 500,000 ton/yr production capacity • Experienced management • Phased approach minimizes risk www.victorynickel.ca oil and gas service providers in Canada. The acquisition is expected to cost about $4,500,000, subject to standard industry adjustments and approvals. A spokesman for La Ronge said the company expects to produce about 170,000 tonnes of various grades of frac sand annually. The Canfrac operation is about 30 km northeast of Lloydminster, Saskatchewan. La Ronge will conduct a brokered pri- vate placement financing of approximately $7 million to fund the acquisition and capi- tal investments and to provide for general working capital. There will be an overallot- ment option for an additional $1 million. Meanwhile, La Ronge continues to advance its Preview SW gold project located 45 km northeast of the town of La Ronge, central Saskatchewan. Some of the project's costs will be funded from frac sand sales. The company recently updated an NI 43-101 resource calculation which is pegged at 158,300 ounces of gold indicated and 270,800 ounces of gold inferred. Athabasca Minerals Inc. [ABM-TSXV], which operates the Susan Lake aggre- gate operation, the largest open pit gravel pit in Canada, is also developing a major silica sand project located north of Fort McMurray, northeast Alberta, within the Wood Buffalo region. The Firebag silica sand was tested and found to be suitable as frac sand for the oil and gas industry. In February 2014, the corporation received notification from Alberta Environment and Sustainable Resources Development that the department has completed its review of Athabasca's silica sand surface material lease application at the Firebag Project. The notice confirms that ESRD has, in principle, completed its review of the lease boundary that is approximately 80 acres, and forms a part of the larger Firebag Project. Athabasca previously submitted a technical memo documenting development and reclamation and will now provide a conservation and reclamation business plan to ESRD for its review before receiv- ing final approval. The CRBP is a normal course requirement of the approval pro- cess. Next steps include the completion and submission of the Firebag CRBP in the

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