VANCOUVER, BC, Aug. 15,
2023 /CNW/ - 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."
About Sage Potash Corp.
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
info@sagepotash.com.
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
+1(236) 836-4182
info@sagepotash.com
Website: www.sagepotash.com
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.
Cautionary Note Regarding
Forward-Looking Statements
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.