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CALGARY, Dec. 31, 2015 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Company") (TSX: KRN) announces the appointment of Ms. Danielle Favreau as Karnalyte's Controller. Ms. Favreau will also be acting as Interim Chief Financial Officer of Karnalyte.
Karnalyte wishes to thank Mr. Christopher Morris, who previously acted as Karnalyte's Interim Chief Financial Officer, and his firm, R.C. Morris & Company Ltd., for their provision of accounting and management services following the reconstitution of Karnalyte's board of directors in May of 2015.
Ms. Favreau attended the University of Saskatchewan and graduated from the CA School of Business to earn a CA designation. As a Chartered Accountant Ms. Favreau has a wide range of corporate experience in senior financial roles in the mining sector and with a national accounting firm.
Karnalyte is engaged in the business of exploration and development of high quality agricultural and industrial potash and magnesium products. Karnalyte intends to develop and extract a carnallite - sylvite mineral deposit through a known solution mining process at competitive costs and with minimal environmental impact. Using a staged approached to potash plant construction, the Company plans to operate a solution mining facility that will initially produce 625,000 tonnes of potash per year, increasing to 2.125 million tonnes of potash per year. Karnalyte owns a 100% interest in Subsurface Permit KP 360A and Subsurface Mineral Lease KLSA-010 located near Wynyard, Saskatchewan, comprising a total of 85,126 acres.
Karnalyte's common shares are traded on the Toronto Stock Exchange (TSX) under the symbol KRN.
SOURCE Karnalyte Resources Inc.
For further information: Karnalyte Resources Inc., 1(306) 986-1486, [email protected], www.karnalyte.com