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Significant progress on technical studies, permitting and engineering
Sage Potash Corp. (TSXV: SAGE,OTC:SGPTF) (OTCQB: SGPTF) ("Sage Potash" or the "Company"), a Canadian company focused on developing its Sage Plain Potash Project located in the Paradox Basin, Utah, has obtained approval for a US$14 million grant from the United States Department of Agriculture (USDA) through its wholly owned subsidiary, Sage Potash (USA) Corporation. Funding will support Sage Potash's financing strategy for the construction of a 300,000 tonnes-per-year potash project in the United States.
"The USDA grant underscores the importance of increasing domestic potash capacity to serve U.S. farmers and Sage is uniquely positioned to build incremental capacity in-market that is derisked in terms of capital, time to production and execution. This grant brings Sage Potash one step closer to planned production and accelerates partnering and financing efforts", said Tim Mizuno, President and Chief Operating Officer.
"The project is expected to create approximately 100 well-paying jobs in the San Juan County of Utah, and uses proven solution-mining techniques that are expected to improve safety and environmental impacts relative to conventional potash mining," added Tim.
The USDA grant represents a significant portion of expected project costs to produce 300,000 tonnes-per-year of potash. Additionally, Sage Potash is advancing permitting and a Preliminary Economic Assessment (PEA) with the support of RESPEC, a leading company in potash deposits and mine development. The PEA includes third party review of estimated project economics, costs and a summary of already completed cultural, environmental and ecological studies that resulted in no mitigation required. Sage Potash expects the final PEA before the end of the third quarter of 2025.
Potash is a primary nutrient, essential for plant growth and global food security. More than 90 percent of potash consumed in the United States is imported, mostly from Canada, the Former Soviet Union and the Middle East. Following President Trump's Executive order in May of 2025, potash was added to the draft list of critical minerals for the Department of the Interior and U.S. Geological Survey on August 25, 2025, thereby providing access to Federal funding and tax credit opportunities of Sage Potash.
"Sage applauds the U.S. Federal administration's decision to add potash to the critical mineral list and is grateful for the USDA grant. With this support, we are well positioned to help grow domestic potash production, derisk the foreign supply chain for American Farmers and create long-term value for our shareholders," Peter Hogendoorn, Chief Executive Officer.
The USDA grant was approved under the Fertilizer Product Expansion Program that helps to increase the manufacturing and processing of fertilizer and nutrients and their availability in the United States. Certain terms and conditions are attached to receiving the grant and the Company will provide further updates as these conditions are met.
About Sage Potash Corp.
Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends through sustainable solution mining techniques to become a prominent domestic potash producer within the Paradox Basin situated in Utah. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at info@sagepotash.com.
On Behalf of the Board of Directors
Peter Hogendoorn
Chief Executive Officer
(604) 764-2158
sagepotash.com
Neither the 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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage, including the use of proceeds thereof. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors and Uncertainties" in the Company's Management's Discussion & Analysis available for review under the Company's profile at www.sedarplus.ca. Such forward-looking information represents management's best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
For media inquiries, please contact:
Marcus van der Made, Investor Relations
IR@sagepotash.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264649
