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.
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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THIS DOCUMENT MAY CONTAIN "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF CANADIAN SECURITIES LEGISLATION AND "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THIS INFORMATION AND THESE STATEMENTS, REFERRED TO HEREIN AS "FORWARD-LOOKING STATEMENTS" ARE MADE AS OF THE DATE OF THIS DOCUMENT. GENERALLY, THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS "EXPECTS", "ANTICIPATES", "PLANS", "PROJECTS", "ESTIMATES", OR VARIATIONS THEREOF OR STATING THAT CERTAIN ACTIONS, EVENTS OR RESULTS "MAY", "COULD", "WOULD", OR "MIGHT" BE TAKEN, OCCUR OR BE ACHIEVED. FORWARD-LOOKING STATEMENTS, WHILE BASED ON MANAGEMENT'S BEST ESTIMATES AND ASSUMPTIONS, ARE SUBJECT TO RISKS 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.
For further information: Gary Deathe, Director of Corporate Development, Toronto, Tel: 905-510-3079