Vancouver, British Columbia / ACCESSWIRE / August 12th, 2014 / Pacific Potash Corporation (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, "Pacific Potash", "The Company") is pleased to announce that that the Board of Directors has approved a plan of action to continue developing the Amazon Potash Project ("the Property") in Brazil. Our present landholdings are in good standing and the required filings and reports have been made with the Departamento Nacional de Producao Mineral in Brazil. After thorough geological research and analysis, we have decided to focus on the most highly prospective lands in the Amazon Basin and reduce the land position to a more central part with an area of 2,800 km2. The Company's geological team has plotted several highly prospective drill targets. Pacific Potash intends to conduct a follow up 5 hole major drill program to test the potash potential of the Property. As previously reported, the Property is situated in an area where major potash discoveries have been made by Petrobras and Potash Brazil where large potash reserves have been delineated.
The Board of Directors announces that in order to further enhance the effectiveness of the Company's oper0.ation, Mr. Tao Liu, currently the Co-Chairman and Director of Pacific Potash, will work more closely with the management team in regard to the Company's strategies and decisions. The Board of Directors is also conducting a thorough executive search for a new Chief Operation Officer.
The Board of Directors is highly confident that we will be able to meet the milestones needed to move towards the potential discovery and development of potash on our Amazon Potash property in Brazil.
About Pacific Potash Corporation
Pacific Potash Corporation trades on the TSX Venture Exchange under the symbol: PP, as well on the OTCQX under the symbol: PPOTF and on the Frankfurt Stock Exchange under P9P. Pacific Potash is engaged in the exploration and development of the Provost Potash Property and the surrounding potash claims targeting the prolific Prairie Evaporite Formation, which is host to multiple conventional and solution potash mines. The Company also has an option to acquire an 80% interest in Western Potash Corporation's (TSX: WPX) Amazonas Basin claims.
We seek safe harbour.
On behalf of the Board,
Pacific Potash Corporation
Balbir Johal, LL.B.
Executive Co-Chairman and Director
Co-Chairman and Director
For further information, please visit our website at www.pacificpotash.com or contact Julie Hajduk, Investor Relations:
Direct: +1 604.609.7140
Email: [email protected]
Neither the 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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required.