FOR IMMEDIATE RELEASE Trading Symbol: TSXV EPO.V
Encanto Potash Corp. ("Encanto" or the "Company") is pleased to announce the granting of an INAC (Indian Northern Affairs Canada) drill permit for the Ochapowace First Nations lands, in Saskatchewan.
Barlon Engineering and Nabors Drilling of Calgary have been retained to conduct the drill program. This initial program will be comprised of a 1,350 metre hole. The purpose of the program is to evaluate the potential of the property to host economic grades of potash, as well as to calibrate the information received from the 2D and 3D seismic programs.
The Ochapowace First Nations lands are surrounded by several oil and gas boreholes that indicate there are 3 potash beds present on the property, and with significant widths.
Encanto has an agreement with the Ochapowace First Nations that gives them a 3% Gross Over Riding Royalty (GORR) upon production of any potash deposit that gets developed with Encanto on their lands.
Encanto CEO James Walchuck says "With this drill program, Encanto hopes to prove our theory that the potash found in surrounding oil wells goes completely through Ochapowace lands. Results from this program should be available in five to six weeks and will hopefully indicate potentially economic grades on the property."
The 2D seismic program continues on the Muskowekwan and Daystar First Nations land and is nearing completion. These are the fourth and fifth First Nations lands on which Encanto will have completed 2D seismic surveys.
Encanto is also pleased to announce the appointment of Gordon Keep as the independent Chairman of the Board. Mr. Keep is Executive Vice-President of Fiore Financial Corporation and has extensive business experience in investment banking, and creating public natural resource companies.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange-listed Canadian resource company engaged in the exploration and development of potash properties in the Province of Saskatchewan, Canada – the largest producing region for potash in the world.
To find out more about Encanto Potash Corp., please visit the company website at www.encantopotash.com or review the documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James Walchuck
President and CEO