American Potash Update on Lithium Brine Exploration Projects in the Paradox Basin, Southeast Utah and Southwest Colorado
Vancouver, B.C., August 24, 2017: American Potash Corp, ( the “Company”) (CSE:AMP) is pleased to provide an operations update on its two Li Brine exploration projects located in southeast Utah and southwest Colorado.
The AMP technical team has prepared a preliminary operations plan for drilling two brine exploration wells on the Utah Lithium property as provided for under the previously released joint venture agreement with Power Metals (August 2, 2017). The plan includes developing budgets and time lines for well design, permitting, an internal exploration plan, drilling operations, and technical contractor selection. Additional research continues to determine best geophysical logging and sampling protocols and to refine targeting concepts.
A work program has also been designed to evaluate the Colorado Lithium Properties. Well log and production data is to be acquired from the Colorado Oil and Gas Division and other public sources to interpret geology, construct sections, and identify potential brine-hosting stratigraphy. The AMP Colorado Lithium Properties encompass approximately 110 oil and gas wells in the Southeast Lisbon and Andy’s Mesa fields. The objective of the current work program is to provide a geologic analysis necessary to produce recommendations for new brine exploration drilling or possibly sampling shut in wells in one or both fields.
About American Potash
American Potash Corp. is dedicated to the acquisition and development of potash mineral deposits in the USA and elsewhere.
American Potash is a public company focused on discovery, development and production of potassium and lithium resources in the Paradox Basin, Utah and elsewhere. American Potash currently holds exclusive rights to over 26,000 acres in the Paradox Basin with US federal potash permit applications. American Potash expects transferal of the potash permit applications to potash exploration permits by late 2016 or early 2017. In 2016 American Potash acquired lithium mining claims and Utah State lithium leases totaling approximately 8,900 acres (3,602 hectares).
On behalf of the Board of Directors
“Rudy de Jonge”
Rudy de Jonge, 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.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.
Key assumptions upon which the Company’s forward-looking statements and information are based include: the price of potash will rise and not fall significantly; the Company’s ability to secure new financing to continue its exploration and development activities; there being no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; the Company’s ability to obtain regulatory approvals in a timely manner; and the Company’s ability to achieve its growth strategy. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.