Vancouver, B.C., January 11th, 2023 American Potash Corp. KCL-CSE ("American Potash" or the "Company"), is pleased to announce the appointment of Mr. Paolo Affif as an Advisor to the Company.
Mr. Affif is a businessman with an extensive background in mining and resource issuers, and received his MBA from UCLA in 1982 as well as attending the Royal Agriculture College at Cirencester, U.K.
Based in Europe, Mr. Affif brings a broad network of international industry contacts with him which may assist in advancing the Company’s Green River Potash and Lithium Project located in the Paradox Basin, Utah.
The Company also announces that it has granted 250,000 incentive stock options exercisable at a price of $0.075 for a period of 5 years from the date of grant.
About the Green River Potash and Lithium Project, Paradox Basin, Utah
The Green River Potash and Lithium Project is located in the Paradox Basin, Utah, and has an Exploration Target estimated to contain 600 million to 1 billion tons of sylvinite grading between 19% to 29% KCL*, potentially one of the largest sources of potash in the USA**. This target was modelled utilizing well-logs of 33 historic local and regional oil and gas wells and was based on a specific stratigraphic horizon known as Cycle 5, the same horizon that Intrepid Potash Inc. (NYSE-IPI), America’s largest potash company, produces from at their nearby Moab, Utah solution mine.
The Company holds a 100% interest in eleven State of Utah (SITLA) mineral and minerals salt leases covering over 7,000 acres, 128 Federal lithium brine claims covering 2,650 acres, and is in the final stages of the application process for 11 Federal (BLM) Potash Exploration permits comprised of approximately 25,000 acres.
Significantly, three of the State leases and a large area covered by the Federal (BLM) Potash Permit applications, lie within or border, an area designated for future potash and brine and processing, including energy efficient solar evaporation ponds.
Located only 20 miles northwest of Moab, Utah, the project has significant logistical advantages including close proximity to major rail hubs, airport, roads, water, towns and labour markets.
The U.S. imports more than 90% of its annual potash requirements, and domestic producers receive a higher sales price due to proximity to market; as of December 2022, the muriate of potash price was $562.50 USD per tonne (fob Vancouver) - Intrepid Potash, America’s largest potash producer, reported receiving $734 USD per ton in Q3 2022.***
Kent Ausburn, PhD, PG, a qualified person within the meaning of NI-43-10 has reviewed and is responsible for the technical details of this release.
On behalf of the Board of Directors
Jonathan George, President & CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
* Agapito Associates Inc. Technical report (October 2012) quantifies the Green River Potash 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.
** USGS ,Minerals Commodities Summaries, January 2022
***Intrepid Potash Inc. Press Release November 2nd 2022
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans for future exploration and the magnitude and quality of the mineralization at the Project. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties;; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties; (i) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.