October 7, 2009
NEWS
RELEASE
ENCANTO POTASH CORP. ANNOUNCES 2D SEISMIC HAS
BEGUN ON THE MUSKOWEKWAN FIRST NATIONS LANDS
FOR IMMEDIATE RELEASE
Trading Symbol:
TSXV EPO.V
Encanto Potash Corp. ("Encanto" or the "Company") is
pleased to announce it has commenced a 2D seismic program on the
Muskowekwan First Nations lands which are located approximately 100
kilometres north of Regina, Saskatchewan.
The Muskowekwan lands consist of 43,000 acres of gentle rolling plains.
To date six oil and gas wells surround the Muskowekwan Exploration
Participation Agreement ("EPA") lands and have shown at least
three potash beds are present in each of these wells.
"We are pleased and excited to see Encanto commence potash
exploration on our Muskowekwan First Nations lands," says
Muskowekwan Chief Reg Bellerose. "The economic potential and
benefits resulting from a potash mine has our entire community
excited. The exploration agreements the Muskowekwan have with
Encanto and the planned exploration program fully respect our treaty rights
and stewardship of our land. We look forward to working with Encanto and
moving this project forward."
This is the seventh EPA that Encanto has signed with First Nations in
Saskatchewan, totaling approximately 187,000 acres (75,675
hectares). This does not include the Spar Property that has
recently been purchased from Lion Energy Corp. (formerly Raytec Metals
Corp.).
As soon as this seismic survey is complete at the Muskowekwan lands,
Encanto will begin another 2D seismic program at the nearby Daystar First
Nations lands. Encanto has a fall 2009 budget of $6,500,000 of
flow-through money required to be spent by December 31, 2009. These
flow through funds have been earmarked to include 2D and 3D seismic
testing, as well as drilling several holes in the respective areas.
Encanto Chief Executive Officer James Walchuck states, "The
Muskowekwan lands are in the heart of some of the best potash lands in
the world and we are very excited to begin our 2D seismic work."
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange-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.
To find out more about Encanto Potash Corp., please visit the company
website at www.encantopotash.com or review the documents filed
on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James Walchuck
President and CEO
For further information please contact:
James Walchuck
President and CEO
Encanto Potash Corp.
Tel: 604-683-2402
Keith Schaefer
Vanguard Shareholder Solutions
Tel: 604.608.0824
Toll Free: 866.918.0824
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.
|