American Potash Announce Acquisition Of 160 Usa Federal Lithium Claims In The Paradox Basin, Southeast Utah, Usa
Jul 28th, 2011 (via Thenewswire.ca) - Confederation Minerals Ltd. (TSX-V: CFM) is pleased to announce that American Potash LLC, a Nevada corporation owned equally by Confederation Minerals Ltd. and Magna Resources Ltd., has acquired 100% of 160 Federal lithium placer mining claims totaling 3200 acres in northwestern Paradox Basin, southeast Utah, USA. The lithium claims are located on BLM administered Federal lands and are staked over a portion of existing American Potash BLM pending potash prospecting permit areas. The new American Potash lithium claims occur approximately 30 miles (50 km) northwest of Moab, Utah and 20 miles (38 km) northwest of Intrepid Potash's Cane Creek solution potash mine in the southeastern Paradox Basin of Utah.>
The new lithium claims were located according to projected subsurface lithium brine occurrences defined in the Utah Geological and Mineralogical Survey Special Studies No. 13, juxtaposed with American Potash's pending potash prospecting permit areas and Utah State potash leases. The lithium claim block defines an approximately 6-mile (9.6 km) long by 1-mile (1.6 km) wide, northwest-southeast elongate contiguous block of claims connecting the two 1 square-mile State of Utah potash lease sections on which American Potash has proposed to drill two initial exploration wells. American Potash intends to evaluate the presence and composition of subsurface lithium-potash bearing brines during the course of exploration drilling for potash occurrences in the Paradox Basin.
Mr. Kent Ausburn, P.Geo., a qualified person as defined by National Instrument 43‐101, has reviewed the technical aspects of this news release.
On Behalf of the Board,
Confederation Minerals Ltd.
“Lawrence Dick“
Lawrence A.Dick, Ph.D., P.Geo
President, CEO, and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Lawrence Dick, President
604.688.9588
lawrence.dick@barongroupintl.com
www.confederationmineralsltd.com
Forward-Looking Information
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.
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