Western Resources (TSX: WRX) (FSE: WR0) (“Western” or “the Company”) is pleased to announce that its wholly-owned subsidiary, Western Potash, entered into a ‘Project Agreement’ with the Rural Municipality of Lajord (‘RM of Lajord’) for the construction and operation of Western’s Milestone Selective Solution Mining Project (“Phase l Project”). The Milestone Phase I Project is located in the RM of Lajord about 35 km southeast of Regina, Saskatchewan.
In April, 2013 Western Potash was granted Environmental Impact Assessment approval from the Government of Saskatchewan for a conventional 2.8 million tonne per year potash solution mining project (‘Milestone Project’). The approval required Western Potash to enter into a Development Agreement with the RM of Lajord.
The purpose of the Development Agreement was to reach a consensus between the RM of Lajord and Western Potash regarding several key aspects of the construction and operation of the initial Milestone Project, notably road access routes, waste management and site construction management.
Mr. Bill Xue, President and CEO of Western Resources, commented:
“Western Resources appreciates the cooperation extended to us by the RM of Lajord. The Company is working hard to explore resources on the North American Market as well as project financing to meet the gap so that Western Potash’s Phase l Project can be built to the schedule.
In the meantime, I feel excited about the progress made in the real estate sector. I have no doubt that through partnering with those strong and reputable developers, the Company will well increase the cash revenue and ultimately bring more shareholder value.”