TSXV: EPO
VANCOUVER, Aug. 7, 2018 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") (TSXV: EPO) and the Muskowekwan First
Nation are very pleased to announce that they have engaged Golder
Associates Ltd. ("Golder"), a consulting, design and construction
services company, as a vital part of the next step in developing a
significant potash mine in Saskatchewan.
As part of Encanto's previously stated plan to strive to
significantly reduce both the OPEX and CAPEX for an advanced potash
solution mine, Golder will prepare two studies for Encanto over the
remaining summer months.
- A water study to finalize the most appropriate and viable water
supply for the Muskowekwan Potash Project with regards to cost
savings and environmental stewardship.
- An Environmental Impact Study (EIS) gap analysis to determine
all steps necessary to complete the full EIS and proceed with the
Environmental safeguarding for the entire Muskowekwan Potash
Project.
"Golder has completed numerous environmental studies and work in
Saskatchewan and around the world
and is very respected in their field by both their peer group and
government agencies," said Chief Operating Officer Richard Lively. "After careful consideration, we
decided to appoint Golder as our partner to move ahead for this
very important aspect of our project. Golder has an immaculate
reputation and a wealth of experience to draw from. We feel very
confident having them as part of our team moving ahead. Golder's
experienced and dedicated team of professionals will be a great
asset to Encanto and our plan to start moving this project forward
is a meaningful and strategic manner."
Golder's inclusion comes at a time when the financial support of
the Government of Canada via
funding through Indigenous Services Canada to support the upcoming
engineering steps of the project has become available (please refer
to the press release dated July 23,
2018). "After much hard work and open communication, this
initial government demonstration of support for a major
Encanto/Muskowekwan First Nation project couldn't have come at a
better time," stated Mr. Lively.
With Golder on board, Encanto is confident in their ability to
deliver multiple updates to its stakeholders and the investment
community in 4th Quarter, 2018. These reports will form
the basis of a firm work plan to finalize and deliver a technically
advanced and construction ready project by November, 2019.
About Golder
Founded over a half century ago in 1960, Golder was created to
offer specialized ground engineering services that exceed client
expectations. The Golder of today continues to excel and deliver on
a vision, driving our industry forward, and anticipating and
responding to our clients' needs. With over 6,500 highly skilled
engineers and scientists operating in more than 150 offices
worldwide, Golder provides consulting, design, and construction
services in the specialized area of earth and environment
differentiated through technical excellence, innovative solutions
and award winning client service. www.golder.com
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 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
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THE MEANING OF CANADIAN SECURITIES LEGISLATION AND "FORWARD-LOOKING
STATEMENTS" WITHIN THE MEANING OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF
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OR RESULTS "MAY", "COULD", "WOULD", OR "MIGHT" BE TAKEN, OCCUR OR
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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.
SOURCE Encanto Potash Corp.
