TORONTO, ONTARIO -- (Marketwired) -- 04/15/15 -- Allana Potash Corp. (TSX: AAA) ("Allana" or the "Company") has filed a technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") in support of an independent Preliminary Economic Assessment ("PEA") prepared by Ercosplan Ingenieurgesellschaft Geotechnik und Bergau ("ERCOSPLAN") on the production of Sulfate of Potash ("SOP") at its Danakhil Potash Project in Ethiopia (the "Project") (the "Technical Report").
This Technical Report filing is in support of the Company's March 2, 2015 news release. The Technical Report is available on SEDAR at www.sedar.com and on Allana's website at www.allanapotash.com
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on its potash property in Ethiopia. Allana has approximately 327.9 million Common Shares outstanding. Allana trades on the Toronto Stock Exchange under the symbol "AAA". For more information, please visit the Company's website at www.allanapotash.com.
Dr. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is the Company's designated Qualified Person and has reviewed and approved the technical information presented in this release.
The Technical Report was prepared by ERCOSPLAN Ingenieurburo Anlagentechnik GmbH under the supervision of Dr. Sebastiaan van der Klauw, Eur Geol, PhD who is an independent Qualified Person for the purposes of National Instrument 43-101 and prepared the April 2013 mineral resource estimates disclosed in the Technical Report.
Cautionary Notes
The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements in this news release include, among others, statements with respect to: the results of the PEA, including operating parameters and expected mine life, production, costs, CAPEX, OPEX, NPV, IRR, expected transportation and processing and other Project economics; plans to advance the Project, AND mineral reserve and resource estimates; Forward-looking statements are based on the assumptions discussed herein, as well as opinions and estimates of management and certain experts 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, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to risks related to: uncertainties of mineral resource and mineral reserve estimates, uncertainties inherent to mining studies (such as the PEA), unexpected events and delays during construction, expansion and start-up; variations in grade and recovery rates; revocation of government approvals; timing and availability of external financing on acceptable terms; actual results of current exploration activities; changes in project parameters as plans continue to be refined; future mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents; labour disputes; uncertainties inherent to conducting business in foreign jurisdictions, and in particular, developing countries, such as corruption, political instability, civil unrest, war, terrorism, crime and uncertainty of the rule of law; environmental risks and other risks of the mining industry, as well as other risk factors described in the Annual Information Form (as defined herein), the above mentioned Technical Report, and other continuous disclosure documents of the Company filed at www.sedar.com.
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 statements or 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 statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts:
Allana Potash Corp.
Richard Kelertas
Senior Vice President, Corporate Development
514 717 6256
rkelertas@allanapotash.com
