TORONTO, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Crystal Peak Minerals Inc. (Crystal Peak or the Company) (TSXV: CPM, OTCQX: CPMMF) is pleased to announce publication in the Federal Register of the notice of availability of the draft environmental impact statement (DEIS) for its Sevier Playa Project (the Project) located in southwestern Utah. The Bureau of Land Management (BLM) prepared the DEIS in accordance with the requirements of the National Environmental Policy Act (NEPA), the Council on Environmental Quality regulations for implementing NEPA, and other governing policies. The DEIS is the culmination of an extensive evaluation process involving years of assessments as well as feedback regarding the Project from federal and state cooperating agencies and the public.
John Mansanti, Chief Executive Officer of Crystal Peak, said, “This is a very important step for us and we appreciate the hard work of the BLM, other supporting agencies, and their contractors. Publication of the DEIS is a significant milestone in the regulatory process and was completed ahead of the BLM’s original schedule. Crystal Peak will continue to support the BLM and other regulatory agencies in their effort to complete final permitting next year. Pending receipt of Notice to Proceed and project funding, we will be ready to begin construction of the Sevier Playa Project as previously announced.”
Earlier this year, Crystal Peak released a timeline indicating that Notice to Proceed from the BLM was expected in Q4 2019 with a construction start anticipated shortly thereafter. The publication of the DEIS is consistent with this timeline.
About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium specialty fertilizers. The Company controls, directly, or through agreement, mineral leases on more than 124,000 acres on the Sevier Playa in Millard County, Utah. With a brine mineral resource known to contain potassium, magnesium, sulfate, and other beneficial minerals, Crystal Peak is targeting the production of specialty fertilizers and associated products through the use of brine extraction and a cost-effective solar evaporation process. Sulfate of Potash (SOP) and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as tree nuts, fruits, and vegetables.
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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.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the permitting and construction of the Project, the targeting of the development and production of specialty fertilizers and associated minerals, including SOP, through the use of a cost-effective solar evaporation process; and Crystal Peak’s future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “is expected”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “believes”, or variations of such words and phrases; or terms that state that certain actions, events, or results “may”, “could”, “would”, “might”, or “will be taken”, “could occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on, a number of assumptions and is subject to known and unknown risks, uncertainties and other factors, including but not limited to the timing of obtaining the necessary permits to proceed with the Project and finalizing the extension of the maturity date of the loan, that may cause the actual results, level of activity, performance or achievements of Crystal Peak to be materially different from those expressed or implied by such forward-looking information. Although Crystal Peak has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Crystal Peak does not undertake to update any forward-looking information, except in accordance with applicable securities laws.