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Gold/Mining/Energy : Altair Nanotechnologies -- Ignore unavailable to you. Want to Upgrade?

To: John S. Baker who wrote (560)	4/14/1999 9:05:00 AM
From: John S. Baker	Read Replies (1) \| Respond to of 603

Tuesday April 13, 3:03 pm Eastern Time Company Press Release SOURCE: Altair International Inc. Altair Announces Positive SRIC Assessment On Camden CODY, Wyo., April 13 /PRNewswire/ -- Altair International Inc. (Nasdaq: ALTIF - news) today announced that the technoeconomic assessment of its Camden, Tennessee titanium deposit completed by SRI Consulting (SRIC) is positive. The assessment concluded that Camden warrants further development and has substantial profitability potential. SRIC's results for Camden alone indicated present values of approximately $211 million, after tax, using a discount factor of 9%, and an internal rate of return of 33.2%. However, if markets allow it, both the Camden and Little Benton deposits could operate at a significantly larger scale than SRIC assumed with potential greater economies of scale and improvement in profitability. The combined reserves make the area one of the largest concentrations of heavy mineral sands in the United States. All contained minerals on the Camden property - ilmenite, leucoxene, rutile and zircon - have substantial global markets that will continue to grow with GDP or at rates higher than GDP. Camden's most important mineral, ilmenite, has a higher concentration of Ti02 than other deposits currently being mined and constitutes a future domestic and stable raw material source of titanium dioxide for the U.S. market -- the U.S. is the largest market in the world, consuming nearly 50% of the worldwide supply of available titanium feedstocks. Recent market studies by SRIC and other experts show a growing global market that could readily absorb between 250,000 and 300,000 metric tons per year of additional Ti02 feedstock by 2002. ''The SRIC study presents an expanded view of global titanium markets and indicates potentially broad acceptance for the Camden ilmenite product,'' said Dr. William P. Long, president of Altair. ''The Little Benton deposit provides Altair the opportunity to double titanium production. Simply stated, economies of scale mean that doubling titanium production would more than double the present value of the project.'' The technoeconomic assessment of Altair's Camden heavy mineral sands deposit was prepared by Dr. Eugene A. Thiers and SRIC's Chemicals and Energy Practice, a wholly owned subsidiary of SRI International (formerly Stanford Research Institute). For a copy of the executive summary from the SRIC Report, please visit the Company's website at www.altairint.com or call one of the contacts listed below. Altair International is the 100% leasehold owner of a large titanium/zircon deposit in Tennessee. Titanium and zircon are contained in mineralized sand deposits which are estimated to total 540 million tons grading 3.6% heavy minerals. Altair is in the final development stages of commercializing its state-of-the-art technology, the Altair Centrifugal Jig, which recovers extremely fine, heavy particulate matter using a combination of a mechanical jig and centrifugal force. In addition to heavy mineral sand, potential applications include gold/mineral recovery, coal cleaning and environmental remediation. This press release may be deemed to contain certain forward-looking statements with respect to the Company that are subject to risks and uncertainties that include, but are not limited to, those identified in the Company's press releases or discussed from time to time in the Company's Securities and Exchange Commission filings. Actual results may vary materially. FOR MORE INFORMATION CONTACT: Carl Thompson, CEO Sheila Whitman, Senior Account Executive Carl Thompson Associates (800) 959-9677 William P. Long, President Altair International Inc. (307) 587-8245 News releases and other information on Altair can be accessed at no charge at Web Site www.altairint.com.