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Press release from Marketwire

Orbite Completes C$5 Million Private Placement

Friday, December 21, 2012

Orbite Completes C$5 Million Private Placement16:17 EST Friday, December 21, 2012MONTREAL, QUEBEC--(Marketwire - Dec. 21, 2012) -THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESOrbite Aluminae Inc. (TSX:ORT) (OTCQX:EORBF) ("Orbite" or the "Company") is pleased to announce that it has completed the previously announced brokered private placement of units for an aggregate amount of $5,000,000 (the "Unit Offering") and that the private placement was again oversubscribed. Each unit was priced at $5,000 and was comprised of 1,156 class "A" shares issued on a flow-through basis at $3.25 each and 478 non flow-through class "A" shares at $2.60 each. The Company intends to use the net proceeds from the Unit Offering for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) at its Grande-Vallée, Cap-Chat, Rimouski and Chaswood (Nova Scotia) properties and for general corporate purposes. "This financing enables Orbite to accelerate the exploration of its properties across the Gaspé and Quebec City regions of Quebec and in Nova Scotia with the goal of diversifying our potential mine sites feeding multiple SGA and HPA plants at various locations," said Richard Boudreault, President and CEO of Orbite. Euro Pacific Canada Inc. acted as lead agent and sole book-runner to the Unit Offering and received a commission equal to 5.0% of the gross proceed and 49,020 broker warrants. Each broker warrant is exercisable into one class "A" share of the Company for a period of 24 months from the closing of the Unit Offering at a price of $2.60 per class "A" share. All securities issued pursuant to the Unit Offering are subject to a four month hold period. The Unit Offering is conditional on regulatory approval, including that of the Toronto Stock Exchange. The securities sold in the private placement have not been registered under the United States Securities Act of 1933, as amended or state securities laws of the United States and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States or any other jurisdiction, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About Orbite Orbite Aluminae Inc. is a Canadian cleantech company whose innovative technologies are setting the new standard for alumina production. Orbite technologies enable the low-cost and environmentally-neutral extraction of smelter-grade alumina (SGA), high-purity alumina (HPA) and high-value elements, including rare earths and rare metals, from a variety of sources such as aluminous clay and bauxite, without producing any wastes such as the caustic red mud residue generated from the industry standard Bayer process. The Company owns 100% of fourteen different families of intellectual property rights (and patents pending) filed across the world for the extraction of alumina at the highest standards of sustainability. Orbite also owns exclusive mining rights over a total of 585 km2 including the 33.4 km2 Grande-Vallée property, the site of a homogeneous aluminous clay deposit in Quebec, Canada containing an NI 43-101 compliant Indicated Mineral Resource of 1.04 billion tonnes (see Reviewed Preliminary Economic Assessment, dated May 30, 2012 and ORT May 31, 2012 press release for a detailed breakdown of the resource). Orbite holds a mining lease on a portion of the deposit. Orbite is currently commissioning its 2,600 m2 high-purity alumina (HPA) plant in Cap-Chat, Quebec, Canada, which will become fully operational in the first quarter of 2013. The first smelter-grade alumina (SGA) plant is currently at the Feasibility Study Stage and the Company anticipates the initiation of construction towards the end of 2013. Orbite plans to license its technologies to well-qualified alumina producers who want to reduce their environmental footprint. Orbite has signed memorandums of understanding with the world's largest aluminum producer, UC RUSAL, and with a major Asian aluminum company. A series of white papers on the application of its technology for the production of alumina, remediation of red mud, and extraction of rare metals are available on our website: www.orbitealuminae.com/en/technology/white-paper. Forward-looking statementsCertain information contained in this document may include "forward-looking information", including statements regarding the intended use of proceeds of the Offering. Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: CanadaMediaFrederic BerardVice-President and General ManagerH+K Strategies514-395-0375, ext. 259InvestorsLouis MorinInvestor Relations514-591-3988InvestorsChris WittyDarrow Associates646-438-9385cwitty@darrowir.comNicole BlanchardInvestor RelationsSun International Communications450-973-6600Jason MonacoFirst Canadian Capital Corp.416-742-5600USMediaGeorge SopkoStanton Public Relations & Marketing646 502-3507ORBITEMarc JohnsonVice-President, Corporate Development514-744-6264, ext. 131info@orbitealuminae.com