|By Marketwired .||
|May 5, 2014 07:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/05/14 -- EPM Mining Ventures Inc. ("EPM" or the "Company") (TSX VENTURE: EPK) (OTCQX: EPKMF) is pleased to announce that the Utah State Engineer has approved all water rights applications for its Sevier Lake Playa Sulphate of Potash ("SOP") Project located in southwestern Utah (the "Project"). In total, five applications were granted in full as the Company had requested.
"We are very pleased with the Utah State Engineer's decision to approve all applications for our project," said Lance D'Ambrosio, Chief Executive Officer of EPM. "These water rights represent the culmination of a multi-year effort, mark a significant milestone that substantially de-risks the project, and most importantly, provide us with all the water specified in our preliminary feasibility study filed last November. I want to personally thank everyone at the State Engineer's office and the entire EPM team for their contributions and to commend both groups for their professionalism. We look forward to completing the remaining permits so we can start building our specialty fertilizer project."
The five water rights applications approved by the Utah State Engineer grant sufficient brine as well as fresh water for the Sevier Playa Project to operate at its projected production capacity of 300,000 metric tonnes of SOP per year. The State Engineer considered the filings as "distinct and separate" from other water rights applications in the subject area and imposed no restrictions beyond those presented by the Company in its applications.
About EPM Mining Ventures
EPM is an exploration-stage company focused on specialty fertilizers. Through Peak Minerals Inc., its indirect wholly-owned subsidiary, EPM controls directly or through agreement mineral leases on more than 124,000 acres on its Sevier Lake Playa property in Millard County, Utah. With a brine resource known to contain potassium, magnesium, sulphate, lithium, and a suite of other beneficial minerals, EPM is targeting the development and production of specialty fertilizers, including SOP, through the use of a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts. With the recent completion of a Preliminary Feasibility Study, the Company is currently engaged in engineering and analysis designed to support a feasibility study, environmental permitting, and ultimately mineral production.
For more information, please visit our web site at www.epmmining.com.
Neither 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.
EPM Mining Ventures Inc.
Chief Executive Officer