FOX ISLAND, Wash., March 28, 2011 /PRNewswire/ -- Universal Potash
Corporation (the "Company") (Pink Sheets: UPCO) announces the
immediate start-up of our Potash Exploration Program focused on our
interests in the Paradox Basin of Utah. Universal Potash Corp's newest venture
is located less than 1,000 yards west of the BLM's designated KPLA
(Known Potash Leasing Area) reserve. The UPCO property interests
encompass nearly 2,000 acres of the School and Institutional Trust
Lands Administration (SITLA) subsurface potassium rights near the
Lisbon Valley KPLA and indicates multiple potash depths due to
their proximity to the flank of the Lisbon anticline. "Our timing couldn't be
better. Financing is available in the markets and Universal Potash
is positioned to take advantage of this timing with our proposed
first 2 site development on the three square mile lease interests
adjacent to Lisbon Valley, Utah,"
stated Kevin M. Murphy, CEO of
Universal Potash Corp.
"We favor Potash....." stated Goldman Sachs Spokesman
"We favor potash among the three nutrients (nitrogen, potash and
phosphate), given more robust demand prospects and a continued
tight supply backdrop in the intermediate term," said Goldman Sachs
in its statement. The stocks of potash producers are predicted to
outshine those of more nitrogen focused companies, due to what
brokerage firm Goldman Sachs calls "peaking corn prices." In a
statement issued this past Monday, Goldman Sachs noted that the
current corn price of $6 to $7 per
bushel is unsustainable. "Increasing global corn supplies, falling
demand for feed and diminished political enthusiasm for ethanol in
the U.S. will combine to lower corn prices by 2012," said Goldman.
The price of nitrogen has a closer connection, compared to potash,
to the price of corn; therefore, Goldman Sachs announced that it
favored fertilizer producers tied to potash, rather than
nitrogen.
UPCO Phase1 Drill Site And Access Recon
Harrison Land Services has been engaged by UPCO to carry out an
extensive evaluation that will target the best drill sites and
access to the 3 newly acquired Potash exploration lease blocks
immediately west of Lisbon Valley anticline of the Paradox
Basin. Analysis of our target drill sites will be based on a
combination of criteria that will result in the
least disturbance area to the environment by the drill
pad locations, access to sites that best fit
geologic favorability for Potash discovery and avoidance of
cultural, paleo and biological resources.
HLS will attempt to avoid, as much possible, the need for a
federal right of way, which will eliminate extensive turnaround
times, save on permitting and 3rd party survey costs. HLS will
stake centerline of the access corridor as well as drill site
center peg with photos, which we will post on the UPCO Website at
www.UniversalPotash.com
UPCO Phase2 Exploration Plan & NOI / ROW
submission
Research and implementation of our second phase will commence
simultaneously with the preparation of our exploration plan.
UPCO's plan will include exploration maps, pad, pits and
access dimensions, disturbance area calculations,
proposed action document, pad diagrams, hole diagrams and
operations list, generation of the Notice Of Intent (NOI)
application and submit these generated items to
SITLA or Bureau of Land Management (BLM) if a federal Right Of Way
(ROW) is required. As part of the exploration planning, HLS will
find sources for water, drill fluid disposal and
county road encroachment and pay necessary filing
fees.
About Universal Potash Corp:
Universal Potash Corp. is an acquisition driven exploration
company, dedicated to increasing shareholder value. The Management
of Universal Potash's principal focus is the acquisition of premium
leaseholds and the future development of these properties and
business interests on a global basis. Management efforts are
channeled into building Universal Potash Corp. into an
international enterprise and meeting the growing challenge of
feeding the world.
"Safe Harbor" Statement: Under The Private Securities
Litigation Reform Act of 1995: The statements in all press releases
that relate to the company's expectations, with regard to the
future impact on the company's results from new projects in
development, are forward-looking statements. A complete disclosure
of our "SAFE HARBOR "statement is posted on our website at
www.UniversalPotash.com under the heading "NEWS." The quotes
attributed to and by Goldman Sachs are not to be considered and
endorsement of, or recommendation to buy Universal Potash Corp.
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SOURCE Universal Potash Corporation