Encanto and Muskowekan First Nation Continue to Work Towards Developing Canada’s First Potash Mine on a First Nations Reserve
Vancouver, BC – October 19, 2022. Encanto Potash Corp. (the “Company” or “Encanto”), (NEX:EPO.H), will work to advance the spirit of Truth and Reconciliation with the First Nations people of Canada. Encanto will focus on “Action #92” and partner with First Nations people, their lands and resources in business and reconciliation. The Company remains committed to fulfilling its obligations as provided for in the Joint Venture Agreement with the Muskowekan First Nation and to work towards developing Canada’s first potash mine on a First Nations Reserve.
Encanto Chairman and Retired Chief Reginald Bellerose of the Muskowekan First Nation (“MFN”) stated: “I firmly believe we are setting significant precedent in a development model in Canada. The rich deposit beneath MFN represents an opportunity for a large capital investment on MFN land and will allow the Muskowekan people to be active participants in the economy. The MFN has taken the necessary steps to enable solution mining on MFN lands, with establishment of the Muskowekan First Nation Solution Mining Regulations in 2017. I am very happy to move forward with this project.””
Encanto Chief Executive Officer, Robert Dzisiak stated: “We are considering new technology on selective solution mining that may enable the development for potash production on the Muskowekan First Nation site on a smaller scale and a more environmentally sustainable approach than our previous approach. We expect that this new approach will have of significantly shrinking the environmental footprint, water usage and reclamation requirements. Encanto has engaged a team of leading experienced professionals to prepare a study based on new solution mining techniques and a modular (scalable) production model, as an alternative to the approach set out in the existing preliminary feasibility study published in 2017.”
On behalf of the Board of Directors
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Forward-looking Statement Advisory: This contains forward-looking statements, including statements regarding the anticipated benefits of solution mining and the production of a preliminary feasibility study based on solution mining methods. . Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. There is no guarantee that the project will be amenable to solution mining, that using solution mining will be economically feasible or that solution mining will result in a reduction of the environmental footprint, water usage and reclamation requirements. These forward-looking statements are based on management’s current expectations and beliefs, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.