TRADING SYMBOL: TSXV:EPO
VANCOUVER,
April 16, 2014 /CNW/
- Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO
and OTCQX: ENCTF) is pleased to announce all six ballots for the
Muskowekwan First Nation ("MFN") Surface Designation vote have
passed with a large majority. There were six separate ballots
including those to allow for the construction and operation of a
potash solution mine on both reserve land and pre-reserve land and
also leasing the surface of the Treaty Land Entitlement Reserve
Land and Home Reserve land to support development on reserve.
Ballot results each closed with a strong majority in favour of
continuing to develop the first producing potash mine on First
Nation land.
Muskowekwan First Nation Chief Reginald
Bellerose commented: "Once again, my people have
demonstrated that we are interested and greatly in favour of seeing
an operating potash solution mine on our land and enjoying the
associated benefits through educational advancements, increased
employment opportunities and self-sourced revenue generation."
"We're very pleased with the results of the Muskowekwan Surface
Designation Vote and the consistently demonstrated strong support
from our First Nation partners. We continue to put in the time and
effort necessary to advance what we feel is soon to be the most
attractive opportunity in the junior potash space and believe that
these results help to pave the way towards an increased pace of
development" stated Encanto President and CEO, James Walchuck.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange listed and OTCQX
traded Canadian resource company engaged in the development of
potash properties in the Province of Saskatchewan, Canada, the largest producing
potash region in the world. Through a joint venture agreement with
Muskowekwan Resources Ltd. ("MFN JV") on our flagship property,
Encanto has a project land package which totals approximately
61,000 largely contiguous acres. A Pre-Feasibility Study dated
February 28 2013 titled "Encanto
Potash Corp. Technical Report Summarizing the Preliminary
Feasibility Study for the Muskowekwan First Nations Home Reserve
Project in South Eastern Saskatchewan, Canada" confirms the Proven
& Probable KCI Reserves totaling 162 MMt grading 28% which
supports primary and secondary mining for over 50 years at an
assumed annual rate extraction rate of 2.8 million tonnes.
The Company has an interest in two additional potash properties
in Saskatchewan: 20% interest in
the 55,000 acre Ochapowace/Chacachas property and 100% interest in
the 55,437 acre Spar property.
Encanto is currently exploring domestic & international
strategic partnerships for the financing, development and sale of
potash production from its MFN JV Property.
The technical content of this news release has been reviewed by
James Walchuck, a qualified person
as defined by NI 43-101.
For additional information about Encanto Potash Corp., please
visit the Company's website at www.encantopotash.com or review the
Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James
Walchuck"
James Walchuck
President and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING
INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY.
FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND
UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR
FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE,
AMONG OTHERS, THE ACTUAL RESULTS OF EXPLORATION ACTIVITIES, CHANGES
IN WORLD COMMODITY MARKETS OR EQUITY MARKETS, THE RISKS OF THE
MINING INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED
WITH THE ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS,
PERMITS OR FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR
CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND
CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER
RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S
FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT
WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON
VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND
OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF
THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING
ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY
FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED
HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE
FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES
AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS
REQUIRED BY APPLICABLE LAW.
SOURCE Encanto Potash Corp.
