Karnalyte Resources Inc. announces resignation of board member
CALGARY, June 30, 2014 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Corporation") (TSX: KRN), announces today that Mr. Robin Phinney has resigned from the Corporation's board of directors effective June 27, 2014:
"On behalf of our board of directors and all Karnalyte employees, I wish to thank Robin for his significant contributions to the Corporation and wish him well in his future endeavors," stated Bruce Townsend, Chair of the Board of Directors of Karnalyte Resources Inc.
About Karnalyte Resources Inc.
Karnalyte is engaged in the business of exploration and development of high quality agricultural and industrial potash and magnesium products. Karnalyte intends to develop and extract a carnallite - sylvite mineral deposit through a known solution mining process at competitive costs and with minimal environmental impacts. Once financing is obtained to potash plant construction, the Corporation plans to operate a solution mining facility that will initially produce 625,000 tonnes of potash per year, increasing to 2.125 million tonnes of potash per year. Karnalyte owns a 100% interest in Subsurface Permit KP 360A and Subsurface Mineral Lease KLSA-010 located near Wynyard, Saskatchewan, comprising a total of 85,126 acres.
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