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APM to Sell Dearing Operating Assets

The sale package includes all equipment and leaseholds connected with the Dearing, Georgia, leased facility, the 80 ac (1 ac = 4047 m2) Tudor mine property and associated mineral resource and data, as well as a 16,9 ac property containing a house and storage building and a 19,47 ac tract of vacant land. The sale price of the assets is USD 893000, settled with USD 492000 cash on closing and USD 401000 in assumed liabilities, namely the leases and purchase obligations, primarily for the land and building comprising the Dearing plant as well as the asset retirement obligations associated with the Tudor mine and Dearing plant site. APM, through its wholly owned subsidiary, Advanced Primary Minerals USA Corp., operates a kaolin processing plant in Dearing, Georgia and has been active in Georgia and South Carolina for over 10 years exploring for, evaluating, extensively testing and securing high quality kaolin resources. Target markets include ceramics, paper, paint and coatings, catalysts and other specialty industrial applications. (7/2012)

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