Potash Ridge Files Large Mining Permit Application in Utah
December 24 2013 - 4:00PM
Marketwired
Potash Ridge Files Large Mining Permit Application in Utah
TORONTO, ONTARIO--(Marketwired - Dec 24, 2013) - Potash Ridge
Corporation ("Potash Ridge" or the "Corporation")
(TSX:PRK)(OTCQX:POTRF) today announced it has filed its "Notice of
Intention to Commence Large Mining Operations" with the Utah
Division of Oil, Gas and Mining for the Blawn Mountain Sulphate of
Potash Project. This major permit application has been filed in
compliance with Utah minerals mining rules for permitting large
mining operations in the state.
"Our filing of this Notice is another significant milestone
culminating from considerable effort over the last 12 months," said
Guy Bentinck, President and Chief Executive Officer. "The
Corporation has made major advances on the Project since we started
development just over two years ago. A strong economic case, based
on 40 years of mineable reserves at Blawn Mountain was reported in
the positive Prefeasibility Study completed last month. The Blawn
Mountain Project will create important jobs in Beaver County and
surrounding areas, and the Corporation will be working closely with
Utah State and County officials to continue to advance the
Project."
The Large Mining Permit required major environmental and
baseline assessments, which were completed over the last year. No
issues that would impede project development were identified, and
assessments have been utilized to develop best practices for mining
and reclamation for the site.
Potash Ridge anticipates that the efficient review process in
place in Utah will result in a timely approval of its
application.
The Prefeasibility Study entitled "NI 43-101 Technical Report
Resources and Reserves of The Blawn Mountain Project, Beaver
County, Utah" by Norwest Corporation (the "Technical Report") is
available on SEDAR at www.sedar.com.
About Potash Ridge
Potash Ridge is a Canadian based development company with a
unique opportunity to develop a sulphate of potash and alumina
project into long-term mining production.
The Company's Blawn Mountain Project consists of four areas of
surface mineable alunite mineralization in the State of Utah.
Alunite is a sulfate mineral ore rich in both sulphate of potash
and alumina.
Located in a mining friendly jurisdiction with established
infrastructure nearby, the project covers approximately 15,404
acres of state-owned land and has a known permitting process.
Extensive development was completed in the 1970s including a mine
plan, feasibility study and 3-year pilot plant operation.
Potash Ridge has a highly qualified and proven management team
in place with significant financial, project management and
operational experience and the ability to take projects into
production.
Forward-Looking Statements
This press release contains forward-looking statements,
which reflect the Corporation's expectations regarding future
growth, results of operations, performance and business prospects.
These forward-looking statements may include statements that are
predictive in nature, or that depend upon or refer to future events
or conditions, and can generally be identified by words such as
"may", "will", "expects", "anticipates", "intends", "plans",
"believes", "estimates", "guidance" or similar expressions. In
addition, any statements that refer to expectations, projections or
other characterizations of future events or circumstances are
forward-looking statements. These statements are not historical
facts but instead represent the Corporation's expectations,
estimates and projections regarding future events. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Corporation,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include,
but are not limited to: the future financial or operating
performance of the Corporation and its subsidiaries and its mineral
projects; the anticipated results of exploration activities; the
estimation of mineral resources; the realization of mineral
resource estimates; capital, development, operating and exploration
expenditures; costs and timing of the development of the
Corporation's mineral projects; timing of future exploration;
requirements for additional capital; climate conditions; government
regulation of mining operations; anticipated results of economic
and technical studies; environmental matters; receipt of the
necessary permits, approvals and licenses in connection with
exploration and development activities; appropriation of the
necessary water rights and water sources; changes in commodity
prices; recruiting and retaining key employees; construction
delays; litigation; competition in the mining industry; reclamation
expenses; reliability of historical exploration work; reliance on
historical information acquired by the Corporation; optimization of
technology to be employed by the Corporation; title disputes or
claims and other similar matters.
If any of the assumptions or estimates made by management
prove to be incorrect, actual results and developments are likely
to differ, and may differ materially, from those expressed or
implied by the forward-looking statements contained herein. Such
assumptions include, but are not limited to, the following: that
general business, economic, competitive, political and social
uncertainties remain favorable; that agriculture fertilizers are
expected to be a major driver in increasing yields to address
demand for premium produce, such as fruits and vegetables, as well
as diversified protein rich diets necessitating grains and other
animal feed; that actual results of exploration activities justify
further studies and development of the Corporation's mineral
projects; that the future prices of minerals remain at levels that
justify the exploration and future development and operation of the
Corporation's mineral projects; that there is no failure of plant,
equipment or processes to operate as anticipated; that accidents,
labour disputes and other risks of the mining industry do not
occur; that there are no unanticipated delays in obtaining
governmental approvals or financing or in the completion of future
studies, development or construction activities; that the actual
costs of exploration and studies remain within budgeted amounts;
that regulatory and legal requirements required for exploration or
development activities do not change in any adverse manner; that
input cost assumptions do not change in any adverse manner, as well
as those factors discussed in the section entitled "Risk Factors"
in the Corporation's Annual Information Form (AIF) for the
year-ended December 2012 found on sedar.com. The Corporation
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable
law.
Potash Ridge CorporationLaura SandilandsManager of Investor
Relations416.362.8640 ext. 101info@potashridge.com
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