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Encanto Potash Corp. announces date of First Nations Treaty Land Entitlement vote and decision to begin early drilling on TLE lands
- Issued & Outstanding Shares: 251,718,968
- Warrants: 24,087,565
- Options: 19,370,000
- Fully diluted: 295,176,533
8/4/2011 1:00 PM - Canada NewsWire
VANCOUVER, Aug. 4, 2011, 2011 (Canada NewsWire via COMTEX News Network) --
TRADING SYMBOL: OTCQX: ENCTF - TSXV EPO
Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO) (OTCQX: ENCTF) is pleased to report that a date has been set for the Treaty Land Entitlement designation vote for the Muskowekwan First Nation. The designation vote will be held on Saturday October 1(st), 2011.
The vote will take place both on the Home Reserve and through mailed ballots, under the authority of Aboriginal Affairs and Northern Development (AAND), formally known as Indian and Northern Affairs Canada (INAC).
Muskowekwan Chief Reginald Bellerose commented: "We're very happy to get to this point where our people can vote for their future prosperity. A successful vote means a future not only of long term royalties but employment opportunities as well. This is a very important date for our people, and we look forward to working with our partner Encanto to develop Saskatchewan's next modern potash mine."
Further to this development, Encanto is pleased to announce that it will be mobilizing a rig to begin drilling on the TLE Lands prior to the completion of the Treaty Land Entitlement designation vote.
Encanto President Jim Walchuck explains: "We're seeing very positive responses from both the off-reserve and on-reserve preliminary meetings with the Muskowekwan membership. We are now very confident in a successful designation vote to include the additional 15,500 acresof Treaty Land Entitlement Lands into our existing joint venture. Based on the positive preliminary response to the pending vote and with the vision of expediting a new resource estimate for the Company, Encanto is proceeding to mobilize a rigto drill two (2) further confirmatory wells as soon as feasible. The additional holes and completion of the designation process will allow North Rim Consulting to calculate and issue an updated 43-101 compliant and expanded resource estimate."
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.
For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com
ProspectingTV: Saskatchewan Potash Partnership Poised for Production
ProspectingTV - ProspectingJournal.com - In the first installment of ProspectingTV, we travel to Saskatchewan for a meeting of the minds between Jim Walchuck, President and CEO of Encanto Potash [EPO - TSX.V] and Chief Bellerose of the Muskowekwan First Nation. We get a chance to see where their relationship lies as they move forward . Together as the first official Saskatchewan potash partnership between a First Nation and a publicly traded company, they are poised for production within Saskatchewan's prolific potash basin, aimed to enhance shareholder value and to meet the needs of the Muskowekwan people WATCH VIDEO - http://prospectingjournal.com/saskatchewan-potash-partnership-poised-for-production-encanto-muskowekwan/