Trading Symbol: TSXV "EPO" OTCQX "ENCTF"
VANCOUVER, Nov. 28, 2011 /CNW/ - Encanto Potash Corp. ("Encanto" or the
"Company") (TSXV: EPO or OTCQX: ENCTF) provides an update on the Treaty
Land Entitlement designation vote which occurred on Saturday November
The Muskowekwan Band membership list used by Aboriginal Affairs Northern
Development Canada (AANDC) contains 1,114 eligible voters. The AANDC
requirement states that an initial designation is successful if 50% +1
of the membership cast their vote. This would require 558 votes to meet
AANDC regulation requirements. A total of 547 eligible cast their
ballots and therefore theoretically, the vote failed to meet the
requirement by 11 votes.
However, the Muskowekwan First Nation (MFN) is questioning the number of
eligible voters on the list used by the AANDC for reasons of accuracy
due to deaths and transfers of former members. AANDC and the MFN will
be undertaking a detailed review to determine what impact this may have
had on the outcome of the vote. This process is expected to take
several days and must be validated and verified by AANDC.
It is important to note that of the 547 votes cast, approximately 80%
were in favour of the land designation.
Encanto will provide an update when the outcome of the MFN and AANDC
review and analysis has been finalized.
The technical content of this news release has been reviewed by Ross
Moulton, VP of Exploration for Encanto, a qualified person as defined
by NI 43-101.
Encanto Potash Corp. is a TSX Venture Exchange and OTCQX listed Canadian
resource company engaged in the exploration and development of potash
properties in the Province of Saskatchewan, Canada, the largest
producing region for potash in the world. Encanto's flagship
Muskowekwan First Nation property has a recent NI 43-101 resource
estimate containing 79.1 million tonnes of KCI grading 29.4% in the
Indicated resources category along with 60.5 million tonnes grading
29.7% in the Inferred resource category (see the Company's news release
dated March 18, 2011). These resources, based on the solution mining
method, may be increased substantially with the addition of the Treaty
Land Entitlement acreage. A Preliminary Economic Assessment (PEA),
based solely on the Indicated Resource estimate, was released in August
of 2011 (see the Company's news release of August 18, 2011) and a
further release of an expanded NI 43-101 compliant resource estimate is
scheduled in 2012.
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:
| James Walchuck |
President and CEO
| || || || || Daniel Caamano |
Vanguard Shareholder Solutions
Toll Free: 1-866-918-0824