Trading Symbol: TSX-V: EPO
VANCOUVER, Jan. 23, 2012 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO or OTCQX: ENCTF) is pleased to provide an update on the Treaty Land Entitlement designation process. The Company along with its partners, The Muskowekwan First Nation ("MFN"), are pleased to announce that notice has been received from Aboriginal Affairs Northern Development Canada ("AANDC") regarding the second vote date for the Muskowekwan Band membership. This vote will be held on February 25, 2012 on the Home Reserve of the Muskowekwan First Nation, near Regina, Saskatchewan.
AANDC will attend the voting site on the MFN Home Reserve as well as receive any ballots delivered by mail. As per AANDC regulations, in order for the designation vote to pass, this second vote requires a simple majority of those voting to be in favour of the mineral designation in order to succeed. In light of the overwhelming positive support from the Muskowekwan Band membership in the first vote held on November 26, 2011, with approximately 80% of the overall votes cast in favour, both the MFN and Encanto are anticipating a strong positive outcome.
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. 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 and a further release of an expanded NI 43-101 compliant resource estimate is scheduled in 2012.
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.
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.
For further information:
| James Walchuck
President and CEO
| Daniel Caamano
Vanguard Shareholder Solutions
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