Confederation Minerals Ltd. (TSX-V: CFM) is pleased to announce that American Potash LLC, a Nevada USA incorporated private corporate joint venture owned equally by Confederation Minerals Ltd. and Magna Resources Ltd., has acquired an additional 960 acres of potash and lithium leases as part of the Green River Potash Project in the Paradox Basin, Southeast Utah.
The 960 total acres are comprised of two State sections that were acquired via competitive bid and are north of and contiguous with the north end of American Potash’s existing Green River Project area of interest (AOI), which is comprised of 7050 acres of Utah State leases and contiguous with 63,241 acres of pending BLM potash prospect permits. Utah State leases are surrounded by and/or contiguous with its pending BLM prospect permits.
Potential in-situ solution mineable target salt cycles beneath the Green River Potash Project AOI include potash cycles 5, 9, 13 and 18. Potash cycle 5 is currently being solution mined at the Cane Creek solution potash mine in the central part of the Paradox Basin, southeast of the Green River project AOI. The Green River AOI covers the least structurally deformed part of the Paradox Basin, likely enhancing ease of exploration, resource and mine development, and production operations. Based on historic oil and gas exploration well logs cycle 13 appears to underlie most of the Green River project AOI, and cycles 5, 9, and 18 underlie lesser but still significant portions of the AOI.
The technical information disclosed in this press release has been reviewed, verified and compiled by Dr. Kent Ausburn, P.Geo. Dr. Ausburn is a qualified person (QP) as defined by National Instrument 43-101 (NI 43-101). Dr. Ausburn has over 29 years of mineral exploration, mine development and business experience in the mining industry.
On Behalf of the Board,
Confederation Minerals Ltd.
Lawrence A.Dick, Ph.D., P.Geo
President, CEO, and Director
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Confederation Minerals Ltd. (the "Company") expects to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.