NEWS RELEASE ------------------------------------------------------ ENCANTO POTASH CORP. ANNOUNCES DATE OF FIRST NATIONS TREATY LAND ENTITLEMENT VOTE AND DECISION TO BEGIN EARLY DRILLING ON TLE LANDS
August 4, 2011
Vancouver, British Columbia - Encanto Potash Corp. (TSXV: EPO) (OTCQX: ENCTF) is pleased to report that a date has been set for the Treaty Land Entitlement designation vote for the Muskowekwan First Nation. The designation vote will be held on Saturday October 1st, 2011.
The vote will take place both on the Home Reserve and through mailed ballots, under the authority of Aboriginal Affairs and Northern Development (AAND), formally known as Indian and Northern Affairs Canada (INAC).
Muskowekwan Chief Reginald Bellerose commented "We're very happy to get to this point where our people can vote for their future prosperity. A successful vote means a future not only of long term royalties but employment opportunities as well. This is a very important date for our people, and we look forward to working with our partner Encanto to develop Saskatchewan's next modern potash mine."
Further to this development, Encanto is pleased to announce that it will be mobilizing a rig to begin drilling on the TLE Lands prior to the completion of the Treaty Land Entitlement designation vote.
Encanto President Jim Walchuck explains: "We're seeing very positive responses from both the off-reserve and on-reserve preliminary meetings with the Muskowekwan membership. We are now very confident in a successful designation vote to include the additional 15,500 acres of Treaty Land Entitlement Lands into our existing joint venture. Based on the positive preliminary response to the pending vote and with the vision of expediting a new resource estimate for the Company, Encanto is proceeding to mobilize a rig to drill two (2) further confirmatory wells as soon as feasible. The additional holes and completion of the designation process will allow North Rim Consulting to calculate and issue an updated 43-101 compliant and expanded resource estimate."
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.
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
"James Walchuck" President and CEO
---------------------------------------------------------------------- For further information please contact:
James Walchuck, President & CEO Encanto Potash Corp. Tel: 604.683.2402
Vanguard Shareholder Solutions Ph: 604.608.0824 Toll free: 866.918.0824 ir@vanguardsolutions.ca www.encantopotash.com
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. |