TRADING SYMBOL: TSXV:EPO
VANCOUVER, April 23, 2013 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO and OTCQX: ENCTF) is pleased to announce that they have added SNC-Lavalin to the development team for their Feasibility Study ("FS") for the Muskowekwan Project in Saskatchewan.
SNC-Lavalin joins the study lead, Novopro Projects, who is performing the design of the solution mining process, processing plant, storage and shipping, along with Agapito Associates, tasked with delivering the mining plan, ongoing reserve estimates, detailed well design and production schedule.
SNC-Lavalin is a Canadian-based company, and a recognized global leader in the design, engineering and construction of mining and metallurgical projects and associated infrastructure. SNC-Lavalin's scope of services in this project will be to perform services around the plant utilities and required infrastructure.
"This mandate reconfirms SNC-Lavalin's long-standing expertise in the potash industry, and our ability to develop and deliver full project solutions to mining companies," said Dale Clarke, Executive Vice-President, SNC-Lavalin. "This project also exemplifies our continued involvement and commitment to First Nations, and we are excited to be working with Encanto on this project."
"We're extremely pleased to add SNC-Lavalin to our Feasibility Study team" stated Encanto President & CEO James Walchuck. "We believe that the Muskowekwan Project is one of the most attractive potash projects currently in a developmental stage. SNC-Lavalin is a key addition to our team and brings a wealth of experience and expertise to help us take the Project to the next stage in our quest to develop and construct the first potash mine on First Nations Lands".
SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. Founded in 1911, SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com
About Novopro Projects:
Novopro is a project development and implementation company servicing the mining and metallurgical industries, specialising in the potash sector with industry leading expertise in solution mining and processing. www.novopro.ca
About Agapito Associates:
Agapito Associates Inc. ("AAI") has over 25 years of experience in potash solution mining and has contributed to or completed multiple Feasibility Studies and 43 101 Technical Reports ("TRs") on Reserves for potash projects globally. For Encanto, AAI has previously completed the Preliminary Feasibility Study ("PFS") for the solution mine design and mine plan as well as co-authored the NI 43-101 Technical Reports on reserves and the PFS. www.agapito.com
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 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 PFS 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 and international strategic partnerships for the financing, development and sale of potash production from its MFN JV Property.
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