Potash Ridge Corporation (“Potash Ridge” or the “Corporation”) (TSX: PRK), a near term producer of premium fertilizer in North America, announced that its wholly-owned subsidiary, Utah Alunite LLC, has made the final instalment of US$668,936 to the Utah School and Institutional Trust Lands Administration (“SITLA”) pursuant with the terms of converting its Exploration and Option Agreement for the Blawn Mountain property into a Mining Lease.
Following this final instalment to SITLA, Potash Ridge has now fulfilled its obligations with respect to the conversion of its Exploration and Option Agreement into a Mining Lease, and consequently has unencumbered rights to develop the Blawn Mountain property.
Guy Bentinck, Potash Ridge’s President and Chief Executive Officer, said:
“Securing unencumbered rights to developing Blawn Mountain is a major milestone in advancing this world-class project. Blawn Mountain will be a long-life, low-cost producer of potassium sulphate strategically located in North America’s underserved market.
Development of Blawn Mountain continues, with the major activities being advancing detailed engineering, securing offtake, and project financing.”