Pacific Potash Corporation - Commences Drilling On Its 100% Owned Provost Potash Property
The first location targets a strong gamma ray response at a depth of approximately 1340 m, within the top of the Prairie Evaporite Formation adjacent to the historical Sage et al. Provost 11-20-37-1W4 well (Northern Development Company Ltd., 1952 (significant gamma ray response, however, scale for gamma ray log unknown)). Within the region, the potash bearing Patience Lake Member of the Prairie Evaporite Formation is anticipated to range from 3 to 6 m thick, at depths of 1300 to 1450 m depth. It is anticipated that this well will take approximately 7 to 10 days to complete and log.
To the best of the Company's knowledge, this is the first well designed to specifically target for potash minerals in the Prairie Evaporite Formation within the Province of Alberta. Based upon success, the company anticipates drilling a total of four wells within the region, as part of its fall 2011 exploration program - two within the Company's Provost Potash Property, and two within the adjacent 50:50 property held jointly with Grizzly Discoveries Inc.
Jody Dahrouge, P.Geol, senior vice-president exploration of the company and a qualified person for the purposes of NI-43-101, has approved the preparation of the technical information in this news release.
Pacific Potash Corporation
Pacific Potash is engaged in the exploration and development of the Provost Potash Property and the surrounding potash claims located in the prolific Prairie Evaporite Formation, which is host to multiple conventional and solution potash mines. The company is also actively looking to acquire other prospective potash assets in North America.
On behalf of the Board, Pacific Potash Corporation
Steven Khan, MBA, CFA
Director & CEO
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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required
For further information:
please visit our website at www.pacificpotash.com or contact investor relations:
Richard Tremblay
Pacific Potash Corporation
Tel: 604-629-7095
Toll free: 1-855-629-7095
Email: rtremblay@pacificpotash.com