Encanto Potash Corp. Update and CEO Statement
Press Releases
April 20, 2015
Encanto Potash Corp. (“Encanto” or the “Company”) (TSXV: EPO and OTCQX: ENCTF) On behalf of the Encanto Potash Corp. (Encanto) Board, I would like to update our shareholders of the company’s current focus over the near term.
We have noted with great interest the recent positive business discussions and agreements reached between the Indian and Canadian Governments. We believe that these discussions will continue with increased urgency in all business sectors including the long term supply of potash to India.
Encanto has been informed by the lead of the Indian Fertilizer Consortium, Rashtriya Fertilizer Company (“RCF”) that our negotiated long-term potash offtake proposal has been scrutinized by RCF management and is currently being presented to the their Board for approval. Encanto anticipates a favourable response from the RCF Board as well as a positive response from the Ministry of Chemicals and Fertilizers.
Encanto has been extremely encouraged by the focus of Indian Prime Minister, Narendra Modi, on expanding trade between Canada and India. The new “pro-business” focus is having a major positive effect in India and we believe will result in the culmination of many business opportunities for Canadian businesses, including Encanto.
We thank our shareholders for their patience as we expect a bright future as our story continues to unfold.
About Encanto:
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 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 & Probable KCI Reserves totaling 162 MMt grading 28% which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.
The Company has an interest in two additional potash properties in Saskatchewan: 20% interest in the 55,000 acre Ochapowace/Chacachas property and 100% interest in the 55,437 acre Spar property.
Encanto is currently exploring domestic & international strategic partnerships for the financing, development and sale of potash production from its MFN JV Property.
The technical content of this news release has been reviewed and approved by James Walchuck, a qualified person as defined by NI 43-101.
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
Per: “James Walchuk”
James Walchuck
President and CEO
For further information please contact:
| James Walchuck President and CEO Tel: 604-683-2402 |
Martin Gagel CFA, MBA
Vanguard Shareholder Solutions
Tel: 604-608-0824
Toll Free: 1-866-918-0824
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