TORONTO, Sept. 24, 2012 /CNW/ - EPM Mining Ventures Inc. (TSX-V: EPK)
("EPM" or the "Company") announced today that its independent
engineering consulting firms, March Consulting Associates Inc. and CH2M
Hill, have requested additional time to complete the preliminary
economic assessment of the Sevier Dry Lake potash project following
discovery of an alternative product process that may potentially
improve project economics. EPM now anticipates that the PEA will be
filed early in the fourth quarter of 2012.
Lance D'Ambrosio, Chief Executive Officer of EPM, said; "We are very
pleased with the work our engineers have completed to date. But rather
than publish our PEA as originally planned, we believe that taking the
time to complete a more comprehensive report is in the best interests
of our company and shareholders."
All other engineering, geotechnical, and hydrology work being performed
for the PEA has been completed.
About EPM Mining Ventures
EPM, through its wholly owned subsidiary Peak Minerals Inc., controls
directly or through agreement mineral leases on more than 124,000 acres
on the Sevier Dry Lake property in Millard County, Utah. EPM is
targeting the future development and production of Sulfate of Potash
(SOP), a premium priced fertilizer used with special crops and soil
types, through a cost-effective solar evaporation methodology. The
Company is currently engaged in engineering and chemical analysis
designed to support the completion of a definitive feasibility study.
For more information on the Company, please visit our web site at www.epmmining.com.
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.
This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements related to
activities, events or developments that the Company expects or
anticipates will or may occur in the future, including, without
limitation, statements related to the Company's business strategy,
objectives and goals; exploration of the Sevier Lake project; the
completion of the technical report related to the Estimate, further NI
43-101 resource estimates and the PEA. Forward-looking information is
often identified by the use of words such as "plans", "planning",
"planned", "expects" or "looking forward", "does not expect",
"continues", "scheduled", "estimates", "forecasts", "intends",
"potential", "anticipates", "does not anticipate", or "belief", or
describes a "goal", or variation of such words and phrases or state
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
information is based on a number of factors and assumptions made by
management and considered reasonable at the time such information is
provided, and forward-looking information involves known and unknown
risks, uncertainties and other factors may cause the actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking information. Such factors
include, among others, the inability to complete further NI 43-101
resource estimates, the inability to complete the PEA; the failure to
obtain all necessary licenses to explore and develop the Sevier Lake
project; inability to successfully complete additional drilling at the
Sevier Lake project, as well as those factors disclosed in the
Company's current Management's Discussion and Analysis, as well as
other public disclosure documents, available on SEDAR at www.sedar.com.
Although EPM has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in the forward-looking information, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
information will prove to be accurate. The forward-looking information
contained herein is presented for the purposes of assisting investors
in understanding the Company's plan, objectives and goals and may not
be appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking information. EPM does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE: EPM Mining Ventures Inc.
For further information:
Chief Executive Officer
(416) 815-0700 ext. 267