Potash Ridge Corporation ("Potash Ridge" or the "Corporation") today announced that a subsidiary of Potash Ridge has entered into a non-binding Memorandum of Understanding regarding a potential offtake and marketing arrangement (the "Arrangement") with a third party marketer (the "Marketer") for the sulphuric acid production from its Blawn Mountain Project (the "Project").
Under the terms of the Arrangement, Potash Ridge will grant either exclusive marketing rights or offtake for 100% of its sulphuric acid production to the Marketer, on such terms and conditions as may be agreed upon by both parties and subject to execution of definitive agreements.
Guy Bentinck, President and Chief Executive Officer, said, "We are delighted to have entered into this arrangement with a highly regarded third party sulphuric acid marketer. This arrangement represents yet another significant step in executing the commercial aspects of the Project and reflects the robust demand and growth for sulphuric acid in the United States."
About Potash Ridge
Potash Ridge is a Canadian based exploration and development company focused on developing a surface alunite deposit in southern Utah called the Blawn Mountain Project. It is expected to produce a premium fertilizer called sulphate of potash and a possible alumina rich by-product.
Located in Utah, a mining friendly jurisdiction with established infrastructure nearby, the Project is expected to produce an average of 645,000 tons of SOP per annum over a 40 year mine life. A NI 43-101 compliant Prefeasibility Study completed in November 2013 by Norwest Corporation demonstrated that the Project is both technically and economically viable. The Prefeasibility Study, entitled "NI 43-101 Technical Report Resources and Reserves of the Blawn Mountain Project, Beaver County, Utah" dated effective November 6, 2013 is available on SEDAR.
Potash Ridge has a highly qualified and proven management team with significant financial, project management and operational experience and the proven ability to take projects into production.