TRADING SYMBOL: TSXV: EPO
VANCOUVER, March 4, 2013 /CNW/ - Encanto Potash Corp. ("Encanto" or the
"Company") (TSXV: EPO and OTCQX: ENCTF) is pleased to announce that it
is in receipt of its Water Rights Licence (the "Licence"), delivered by
the Saskatchewan Water Security Agency as an assurance of process water
for the Company's Muskowekwan solution potash mine.
"Securing the Licence for a reliable and long term water supply from
Buffalo Pound Lake for our project is another critical step to move
towards a producing potash mine on the flagship Muskowekwan property"
stated Encanto President and CEO, Jim Walchuck. "This water rights
licence falls exactly in line with the estimates for water usage and
costs foreseen in our Pre-Feasibility Study which we filed February 28th, 2013".
The 12,000 cubic decameters granted annually through this licence
matches what was requested by the Company and is sufficient to operate
the solution mine at its full planned capacity of 2.8M mtpy.
The technical content of this news release has been reviewed by Jim
Walchuck, P. Eng., a qualified person as defined by NI 43-101.
Encanto Potash Corp. is a TSX Venture Exchange listed and OTCQX 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 the a joint venture
agreement with Muskowekwan Resources Ltd. ("MFN JV") on our flagship
property, Encanto has a project land package, which totals
approximately 61,000 largely contiguous acres. A Pre-Feasibility Study
was released in February 2013 confirming Proven & Probable KCI Reserves
totaling 162 MMt grading 28% which supports primary and secondary
mining for over 50 years at an annual rate of 2.8 million tonnes.
The Company has a 100% interest in two additional potash properties in
Saskatchewan: the 55,000 acre Ochapowace/Chacachas property and the
91,550 acre Spar property.
Encanto is currently exploring domestic & international strategic
partnerships for the financing, development and sale of potash
production from its MFN JV Property.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION
RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING
INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS.
SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE ACTUAL RESULTS
OF EXPLORATION ACTIVITIES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY
MARKETS, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT
LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING
GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF
DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN
GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY,
AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE
COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS
(AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON VARIOUS ASSUMPTIONS AND
ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THE
STATEMENTS ARE MADE. SHOULD ONE OR MORE OF THESE RISKS AND
UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE
INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN
THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN. THE COMPANY
UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE
ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES
SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
SOURCE: Encanto Potash Corp.
For further information:
President and CEO
Martin Gagel CFA, MBA
Vanguard Shareholder Solutions
Toll Free: 1-866-918-0824