Vancouver, B.C., January 30th, 2024. American Potash Corp. KCL-CSE ("American Potash" or the "Company") announces that Mr. Jonathan George has stepped down as President and Chief Executive Officer (“CEO”) of the Company. Mr. Dean Besserer, a director of the Company, has therefore been appointed as interim President and CEO.
Mr. Besserer has more than two decades of mineral exploration experience working in over 50 countries, leading projects with annual exploration budgets exceeding US$20 million. He has served as Vice-President and Partner at APEX Geoscience Ltd., a consulting firm with offices in Canada, South America and Australia, and as a Director of Brilliant Mining, Niblack Resources and Sentosa Mining. Mr. Besserer also served as the Vice-President of Exploration of numerous junior mining companies and is a Professional Geologist and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
With this change in management, the Company will be renewing its efforts to explore its Green River Potash and Lithium Project within the Paradox Basin, Utah.
The Paradox Basin contains large aquifers of brines containing concentrated lithium, bromine and boron. Neighboring Anson Resources has a large lithium resource of 1.5m tonnes of lithium (LCE)* and a lithium exploration target of 2-2.6B tonnes of lithium brines bordering American Potash’s project (see Ansonresources.com).
The Basin also contains a proven productive potash horizon, known as Cycle 5, that has been mined since 1963. Cycle 5 and recently Cycle 9 host the nearby, long-producing and currently-active Moab solar solution mine, operated by Intrepid Potash (NYSE-IPI- ~ $20) the largest potash producer in the U.S (see Intrepidpotash.com).
This same stratigraphic horizon extends to American Potash’s Project, where an Exploration Target from 600 million to 1 billion tonnes of sylvinite, with an average grade ranging from 19% to 29% KCL, has been estimated in a NI-43-101 compliant technical report prepared by Agapito Associates Inc. (October 2012).
Kent Ausburn, PhD, PGeo., a qualified person within the meaning of NI-43-101 has reviewed and is responsible for the technical details of this press release.
On behalf of the Company
Dean Besserer, P.Geo., President & CEO
For further information, please visit the Company’s website at www.americanpotash.com or contact Mr. Dean Besserer by email at deanb@americanpotash.com .
** Disclaimer: JORC defined mineral resource estimates are typically similar to but not necessarily equivalent to NI-43-101 defined mineral resource estimates and there is no guarantee similar resources exist on the Company’s project.
** The Potash Exploration Targets are not being reported as part of any Mineral Resource or Mineral Reserve. The Agapito Report quantifies the Project’s potash exploration potential in the form of a NI 43-101 Exploration Target. The Exploration Target estimate was prepared in accordance to the NI 43-101 guidelines of the Canadian securities regulators. It should be noted that Exploration Targets are conceptual in nature and there has been insufficient exploration to define them as Mineral Resources, and, while reasonable potential may exist, it is uncertain whether further exploration will result in the determination of a Mineral Resource under NI 43-101. The Exploration Target stated in the Agapito Report is not being reported as part of any Mineral Resource or Mineral Reserve.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.