Press release from Business Wire
Western Potash Corp. Milestone Project Receives Environmental Assessment Approval
Wednesday, April 03, 2013
Western Potash Corp. Milestone Project Receives Environmental Assessment Approval10:43 EDT Wednesday, April 03, 2013
VANCOUVER, British Columbia (Business Wire) -- Western Potash Corp. (WPX: TSX) (FSE: AHE) (the “Company”) is pleased to announce that the Saskatchewan Ministry of Environment (“MOE”) has issued Environmental Assessment (“EA”) Approval for the Milestone Solution Potash Mine project. The EA Approval covers all components of the mine facility including the use of City of Regina treated effluent as the industrial water source for the project.
“EA approval is the final major deliverable required to advance the Milestone Project through financing and into construction. We are extremely pleased to have delivered this important milestone, critical to the development of our world-class project. The Company appreciates the diligent work completed by the Saskatchewan Ministry of Environment and other Government of Saskatchewan officials,” commented Patricio Varas, President and CEO of Western Potash Corp.
The EA approval is the culmination of three years of high quality work carried out by Golder Associates and Canada North Environmental Services in collaboration with Western's environment and community engagement professionals and community stakeholders. The Company began work on the EA approval process in early 2010, when it began drafting its Environmental Impact Statement (“EIS”). The EIS is the main initial environmental report submitted by a mining company to the government as part of the EA Approval process. The EIS was finalized and submitted to the MOE in January 2013. A mandatory 30-day public review period closed on March 4, 2013. Based on the EIS and public input, the Minister of Environment provided the EA approval to Western Potash on March 28, 2013.
The EA approval allows Western Potash to advance the Milestone Project to permitting and construction, which, subject to financing, is anticipated to commence in mid 2013. Utility providers will be responsible for permitting of power, gas and telecommunications facilities.
About Western Potash
Western Potash Corp. is a development stage potash company focused on building Canada's most efficient potash solution mine, with commercial production expected to commence, subject to financing, in 2016. The Company intends to develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner. A positive Feasibility Study for the Milestone Project was completed in December 2012, demonstrating robust project metrics.
ON BEHALF OF THE BOARD OF DIRECTORS
“J. Patricio Varas”
J. Patricio Varas President and CEO
Cautions Regarding Forward-Looking Statements
Except for statements of historical fact relating to Western Potash, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to future financing availability, the Milestone Feasibility Study, timelines for completion of various steps related to the foregoing; and the ability of Western Potash to develop the Milestone Project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “subject to”, “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Western Potash to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary approvals; the ability to conclude a transaction; uncertainty of future production, capital expenditures and other costs; financing and additional capital requirements; the receipt in a timely fashion of any further permitting for the Milestone Project; legislative, political, social or economic developments in the jurisdictions in which Western Potash carries on business; operating or technical difficulties in connection with mining or development activities; and the risks normally involved in the exploration, development and mining business. Although management of Western Potash has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Western Potash does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
Western Potash Corp.
John Costigan, (604) 689-9378
VP Corporate Development