VANCOUVER, British Columbia, June 07, 2018 (GLOBE NEWSWIRE) -- Western Resources Corp. (TSX: WRX ) (FSE: WR 0) is pleased to announce that its wholly-owned Milestone Phase I Project Company, the Milestone Potash Corp. (“Milestone” or “the Company”) has entered into an agreement with SNC-Lavalin Inc. (“ SNC-Lavalin ”) to complete the detailed engineering for the Milestone Phase I Selective Solution Mining Project (“the Project”) located in southeast Saskatchewan.
As reported in its 21/12/2016 news release, the Company has completed a Class 3 (+/- 10% CAPEX) engineering report on the Phase I Project. However, through assessment of the overall global potash market situation, the Company decided to revise its market destination by successfully entering into a non-binding Memorandum of Understanding (MOU) with a senior North American agriculture industry player to transport and offtake 100% of the Phase I Project potash production to the North American market. The engineering contract with SNC-Lavalin is to complete the detailed ‘construction-ready’ drawings (issue for construction drawings) for the process plant and associated infrastructure, and specifications, basic and detailed design to accommodate a compaction system for the granular product to meet with the requirement of the North American market. Detailed engineering deliverables will be completed in the early 2019 ready for final tendering and construction. SNC-Lavalin will also provide quality assurance inspections for equipment procurement and on-site technical support during construction.
Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company. It provides comprehensive end-to-end project solutions, particularly in consulting, design, engineering, construction, sustaining capital and operations and maintenance in the areas of mining, metallurgy, infrastructure, clean power, nuclear and engineering design and project management.
Mr. Bill Xue, President and CEO of Western Resources Corp. commented, “Western Resources is extremely pleased to see that the Milestone Phase I Project has progressed to this point. We look forward to working with SNC-Lavalin to move the Project to the construction phase and we are excited about the positive results we have generated to date on the Selective Solution Mining Process. The Milestone Project will be an innovative and low-cost method to produce potash.”
Bill Xue President & CEO
Qualified Persons
The content of this news release has been read and approved by Gregory F. Vogelsang, P.Eng., P. Geo., Project Manager of the Company. Mr. Vogelsang is a Qualified Person as defined by NI 43-101. Readers are cautioned that the projected mining method, potential production profile and plan and mine plan referred to in the Pilot Study and this release are conceptual in nature. There is no certainty that a potential mine will be realized or that a production decision will be made.
Cautions Regarding Forward-Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.
Jerry Zhang Corporate Secretary Tel: 604-689 9378 Email: info@westernresources.com
