forward looking information

Forward looking information involves significant risks Certain information in this press release is "forward looking information", which reflects management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. In this release, the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate" and "expect" and similar expressions, as they relate to the Company and its assets and interests, are often, but not always, used to identify forward looking information. Such forward looking information reflects management's current beliefs and is based on information currently available to management.

Forward looking information involves significant risks and uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether or not or the times at, or by which, such performance or results will be achieved. In particular, this release contains forward looking information pertaining to the following: the decisions of the joint venture with respect to the conduct of the Project; the approval of the proposed development plan with respect to the Project and the making of a decision by the joint venture partners to proceed with the development of the Project; the adequacy of the Company's cash resources; expectations regarding the financing of the Project, the terms, timing and amount of financing and the sources of financing for the Project; the amount, nature and timing of capital expenditures to complete the Project; the timing of refinery construction and mine start up; future production levels; expectations regarding the negotiation of contractual rights; prices for alumina and aluminium; operating and other costs; recognition by the new political regime in Guinea of historical agreements negotiated by the previous government; and general business strategies and plans of management with respect to the Project.

A number of factors could cause actual results to differ materially from the results discussed in the forward looking information, including, but not limited to: recent political events in Guinea and the transition to a new government and the policies of such new government; the current political and economic risks of investing in a developing country; a decision by the joint venture partners to delay the Project or not to proceed with the Project; material changes to the cost estimates and time estimates for development of the Project; unanticipated liabilities of Global Alumina at the corporate level and the possibility the Company may need to seek additional financing to fund corporate expenses; the possibility that the value of the Corporation's assets could deteriorate; the possibility that the value of the Corporation's assets could deteriorate; operational risks such as access to infrastructure and skilled labour; the limited control by the Company of the assets and operations of the Project and its inability to make major decisions with respect to the Project without agreement from the other joint venture partners; the failure or delay in obtaining debt financing for the Project; the amount of debt financing available to the Project being insufficient to fund the Project to complete development; the inability of the Company to raise sufficient financing to fund its share of the development costs of the Project in excess of the maximum Project debt financing; the Company's dependence on an interest in a single asset; the possible forfeiture of the 690 square kilometre mining concession area near Sangaredi in certain circumstances; construction risks such as cost overruns, delays and shortages of labour, materials or equipment; the possibility that the Company's interest will be diluted if it is unable to meet a capital call with respect to the Project; currency fluctuations; price volatility of alumina, aluminium or raw materials and certain other factors related to the Project and the factors red related to the business of the Company discussed under the heading "Risk Factors" in the Company's Annual Information Form.