TSXV: EPO
VANCOUVER, Dec. 13, 2017 /CNW/ - Encanto Potash Corp.
("Encanto Potash" or the "Company"), an emerging potash
development, mining and operating company advancing the Muskowekwan
property in Saskatchewan, in
partnership with Muskowekwan First Nations, is pleased to announce
the most recent meeting between the Muskowekwan First Nation
("MFN"), Encanto Potash and several federal departments where
information was shared about the state of the project and
opportunities to move forward collectively. The Government of
Canada has indicated that they
will facilitate a coordinated federal discussion to allow for more
streamlined supports for the project. The objective for Encanto
Potash is to build a strong working relationship, starting with a
government communication, to identify opportunities for the various
departments to become involved in the success of Muskowekwan First
Nations and Encanto Potash Corp.
The meeting was arranged to discuss the project's current
positioning and the recent financing from Global Emerging Markets,
the increased role of the First Nations throughout project
development and operations, and the ancillary projects associated
with the $4.03 billion CAD Potash
mine to be developed on the 61,400 acres of approved MFN land. The
ancillary project's include water supply infrastructure ,
waste water mitigation infrastructure, commercial and port
infrastructure, on site community development and sustainable
housing and construction of energy facilities to support the mine
and on-site development.
During construction and operations, the Encanto Potash project
is projected to substantially increase employment and a jobs
training program will be developed working with MFN and the federal
agencies. Together, the parties discussed potential federal
supports for the project as well as Muskowekwan First Nations
economic development. The Encanto Potash project team discussed the
20 year, 5 million metric ton per year off-take agreement in place
with the National Federation of Farmers Procurement, Processing,
and Retailing Cooperatives of India Ltd, a multi-state agency
registered under the Ministry of Agriculture. All parties
discussed the positive role the project could play in the bilateral
trade relationship between the Government of Canada and India.
Chief Reginald Bellerose
remarked, "This is a fantastic opportunity for the Government
of Canada and our First Nations to
work collaboratively on this significant economic project. We are
proud of the achievements to date
and look forward to the next steps as we further
advance the project."
Encanto Potash Senior Management member Jeffrey Brown, "The meeting between the two
groups, the exchange of ideas, and the commitment to work together
was extremely encouraging. We all recognized there are
numerous benefits for all parties, working ultimately to achieve
success in building the mine, building economic viability for FN,
and enhancing Canadian relations internationally."
About Encanto Potash Corp
Encanto Potash Corp. is a TSX Venture Exchange listed and 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, Encanto has secured a project land
package which totals approximately 61,000 largely contiguous acres.
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 and Probable KCI Reserves totaling 162
Mt grading 28% KCl (average) which supports primary and secondary
mining for over 50 years at an assumed annual rate extraction rate
of 2.8 Mt of MOP. The PEA dated May 24,
2017 titled " NI 43-101 Technical Report on a Preliminary
Economic Assessment and Preliminary Feasibility Study of the
Muskowekwan Potash Project, South-Eastern Saskatchewan, Canada"
summarizes an alternative development option that supports primary
and secondary mining of the Mineral Resources for 48 years at an
annual extraction rate of 3.4 Mt of MOP. On December 30, 2016, Encanto signed a 20-year
off-take agreement with the National Federation of Farmers'
Procurement, Processing, and Retailing Cooperatives of India Ltd.,
(NACOF) registered under the Ministry of Agriculture, Government of
India to supply 5 million metric
tons a year of potash.
For further information please contact: Jeffrey Brown at Jeffrey@encantopotash.com
THIS DOCUMENT MAY CONTAIN "FORWARD-LOOKING INFORMATION" WITHIN
THE MEANING OF CANADIAN SECURITIES LEGISLATION AND "FORWARD-LOOKING
STATEMENTS" WITHIN THE MEANING OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. THIS INFORMATION AND THESE STATEMENTS, REFERRED TO HEREIN AS
"FORWARD-LOOKING STATEMENTS" ARE MADE AS OF THE DATE OF THIS
DOCUMENT. GENERALLY, THESE FORWARD-LOOKING STATEMENTS CAN BE
IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS
"EXPECTS", "ANTICIPATES", "PLANS", "PROJECTS", "ESTIMATES",
OR VARIATIONS THEREOF OR STATING THAT CERTAIN ACTIONS, EVENTS OR
RESULTS "MAY", "COULD", "WOULD", OR "MIGHT" BE TAKEN, OCCUR OR BE
ACHIEVED. FORWARD-LOOKING STATEMENTS, WHILE BASED ON MANAGEMENT'S
BEST ESTIMATES AND ASSUMPTIONS, ARE SUBJECT TO RISKS AND
UNCERTAINTIES THAT MAY CAUSE ACTUAL RESULTS TO BE MATERIALLY
DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING
STATEMENTS, INCLUDING BUT NOT LIMITED TO: RISKS RELATING TO
VARIATIONS IN THE MINERAL CONTENT WITHIN THE MATERIAL IDENTIFIED AS
MINERAL RESOURCES FROM THAT PREDICTED; VARIATIONS IN RATES OF
RECOVERY AND EXTRACTION; THE GEOTECHNICAL CHARACTERISTICS OF THE
ROCK MINED OR THROUGH WHICH INFRASTRUCTURE IS BUILT DIFFERING FROM
THAT PREDICTED, DEVELOPMENTS IN WORLD METALS MARKETS; RISKS
RELATING TO FLUCTUATIONS IN THE CANADIAN DOLLAR RELATIVE TO THE US
DOLLAR; INCREASES IN THE ESTIMATED CAPITAL AND OPERATING COSTS OR
UNANTICIPATED COSTS; DIFFICULTIES ATTRACTING THE NECESSARY WORK
FORCE; INCREASES IN FINANCING COSTS OR ADVERSE CHANGES TO THE TERMS
OF AVAILABLE FINANCING, IF ANY; TAX RATES OR ROYALTIES BEING
GREATER THAN ASSUMED; CHANGES IN DEVELOPMENT OR MINING PLANS DUE TO
CHANGES IN LOGISTICAL, TECHNICAL OR OTHER FACTORS; CHANGES IN
PROJECT PARAMETERS AS PLANS CONTINUE TO BE REFINED; RISKS RELATING
TO RECEIPT OF REGULATORY APPROVALS; DELAYS IN STAKEHOLDER
NEGOTIATIONS; CHANGES IN REGULATIONS APPLYING TO THE DEVELOPMENT,
OPERATION, AND CLOSURE OF MINING OPERATIONS FROM WHAT CURRENTLY
EXISTS; THE EFFECTS OF COMPETITION IN THE MARKETS IN WHICH ENCANTO
OPERATES; AND OPERATIONAL AND INFRASTRUCTURE RISKS. ALTHOUGH
MANAGEMENT HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN
FORWARD-LOOKING STATEMENTS, THERE MAY BE OTHER FACTORS THAT CAUSE
RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED OR INTENDED. THERE CAN
BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE, AS
ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE
ANTICIPATED IN SUCH STATEMENTS. ACCORDINGLY, READERS SHOULD NOT
PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS. ENCANTO
DISCLAIMS ANY OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS
CONTAINED HEREIN OR TO PUBLICLY ANNOUNCE THE RESULT OF ANY
REVISIONS TO ANY SUCH STATEMENTS TO REFLECT FUTURE RESULTS, EXCEPT
AS REQUIRED BY APPLICABLE SECURITIES LAW. PLEASE REFER TO ENCANTO'S
MOST RECENT FILINGS UNDER ITS PROFILE AT WWW.SEDAR.COM FOR FURTHER
INFORMATION RESPECTING THE RISKS AFFECTING ENCANTO AND ITS
BUSINESS.
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.
SOURCE Encanto Potash Corp.