June 13, 2002

Montreal, June 13, 2002

Symbol: PCI

LAMÈQUE, New Brunswick "the decision of the Board of Directors of Perlite Canada inc. ("Perlite") to open a new perlite and vermiculite production plant in New Brunswick reflects the company’s firm commitment to move closer to its customers in Eastern Canada, in order to provide them with products of the highest quality at the best price. Perlite Canada inc. wishes to further its development, by creating closer ties with peat producers".

This was the statement made today by the Perlite’s President and CEO, Richard Barabé, in addressing some 60 guests, at the official opening of the company’s new perlite and vermiculite production plant in Lamèque. Perlite Canada inc., whose head office is in Montréal, also operates a production plant in Baie-du-Fèbvre in Québec.

"The Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is proud to be investing in a company like Perlite Canada inc. which is creating jobs in Atlantic Canada", said the Minister of State (ACOA), the Honorable Gerry Byrne. "The Company will contribute to the dynamism of the New Brunswick economy, and especially the peat sector, which is facing increasingly greater demand from Canadian, American and South American markets. The opening of the plant by Perlite Canada inc., an industry leader in Lamèque, and the resulting creation of jobs, is definitely excellent news for the people of our region".

"Perlite and vermiculite sales over the past years and the dynamism of New Brunswick’s small producers of peat warrants the construction of a 10,000-sq.-ft plant with a nominal production capacity of 2,000,000 cu. ft. per year. Construction began in May 2001 and the plant is now operating without interruption seven days a week, 24 hours a day, since November 25, 2001", added Mr. Barabé.



"The Lamèque plant has also created 10 regular and specialized jobs for technicians trained by us, not counting the jobs and indirect benefits resulting from the investment, the construction and operation of the plant, especially in areas such as transportation, energy and purchasing of materials", said Mr. Barabé. "Based on performance, we will have to plan for a second oven in the near future", he concluded.

Perlite and vermiculite are derived from volcanic rock. After grinding and firing at temperatures between 900 and 1100oC, the rock expands to four to twenty times in volume. Currently, the primary use of perlite and vermiculite is in horticulture, especially by peat producers.

Under its business development program, ACOA, granted a non-interest bearing loan of $257,016 to Perlite Canada inc., and the New Brunswick Government has provided an employment grant in the order of $25,000.

Perlite Canada inc. is a leading Canadian company involved in the processing, distribution and sale of perlite and vermiculite, two minerals used in industry and in the horticultural sectors.

Perlite Canada inc. common shares are traded on the TSX Venture Exchange.

The TSX Venture Exchange has no liability regarding the truth or accuracy of this press release.

For further information, contact:

Peter A.H. Graham
Office of the Minister of State
ACOA
(613) 957-9959 Stéphanie Bilodeau
Communications Officer
ACOA, N.B.
(506) 452-3304



Richard Barabé, Eng. President and CEO
Perlite Canada inc. Telephone: (514) 336-6665
Fax: (514) 336-6651
Info@perlitecanada.com

Jules Mercier
Plan Manager, Lamèque Plant
Perlite Canada inc.
Telephone: (506) 344-2220
Fax: (506) 344-2240
usinelameque@nb.aibn.com
www.perlitecanada.com

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