Sage Potash CORP. (TSXV: SAGE) (OTCQB: SGPTF) (‘ Sage Potash ‘ or the ‘ Company ‘) is pleased to announce it has achieved an essential milestone in its operational roadmap. The Company has obtained regulatory approval from Utah’s Department of Natural Resources Division of Water Rights for the Fixed-Time Application that grants Sage Potash permission to withdraw up to 0.207 cubic feet per second (CFS) or 150 acre-feet of brackish water annually, effective until July 31, 2043 . Water will be procured from the proposed access well for extraction and year-round use within the entire Sage Plain Potash Project, consisting of over 88,000 acres of mineral leases and permit applications in Utah’s Paradox Basin, with 2 potash beds and an inferred resource of 279.5 MMT high-grade potash.
Water rights play a crucial role in the development of solution-based potash projects, as they ensure a sustainable supply of water for extraction purposes, which is essential for the efficient and environmentally-friendly extraction of potash. In its commitment to aligning economic growth with environmental sustainability, Sage Potash Corp emphasizes that its planned operations will not impact traditional sources of irrigation, agricultural, or potable water. Instead the company will utilize brackish water, which is primarily composed of salt and other minerals, rendering it unsuitable for conventional uses.
Peter Hogendoorn , CEO of Sage Potash , commented ‘In any resource project, one of the biggest risks to advancement beyond exploration, is permitting. Receiving water/brine access rights is a key step in de-risking the Sage Plain project since there can be no production without water. We are advancing numerous permit applications and are extremely pleased with the support we are receiving from the various Utah state agencies involved.’
Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends through sustainable solution mining techniques to become a prominent domestic potash producer within the Paradox Basin situated in Utah . For further information, please refer to the Company’s disclosure record on SEDAR ( www.sedar.com ) or contact the Company by email at firstname.lastname@example.org .
On Behalf of the Board of Directors,
CEO & Executive Chairman
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.
This news release contains ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’, ‘is expected’, ‘budgets’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘predicts’, ‘projects’, ‘intends’, ‘targets’, ‘aims’, ‘anticipates’ or ‘believes’ or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions ‘may’, ‘could’, ‘should’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage, including completing a step out pilot production well that will double as a resource definition drill hole, advancing preliminary engineering and feasibility towards a PEA, completing 3D seismic and step-out well and new resource calculations [MA1], and management’s expectations regarding Sage’s growth. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Sage to control or predict, that may cause Sage’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading ‘Risk Factors’ in the Company’s final non-offering long form prospectus dated March 2, 2023 available for review on the Company’s profile at www.sedar.com . Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE Sage Potash Corp.
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