RENO, Nev., May 19, 2011 /PRNewswire/ -- Potash America, Inc.
(OTCBB: PTAM) (the "Company") announced today that during
mid-March, the company entered into a Letter Of Intent covering the
purchase of 100% of the potash claims located in Newfoundland, Canada title 018321M that is
part of the historic St. Finton's Potash Intercept.
The Company joins several other junior miners in this area. The
historical data and due diligence reviewed by the Company indicates
that the Company intends to close on the property by 6/8/2011; with
the hope of beginning a feasibility study shortly thereafter.
The Company would like to further announce that on May 11, 2011 it entered into a Letter Of Intent
to acquire a 100% interest in 39 Bureau of Land Management Claims
in Mineral County, Nevada. The
claims cover the unique deposit of Sedimentary Montmorillonite just
south of Sodaville, NV. The claims have previously been 'worked'
and much historical data about Montmorillonite and this particular
site exists. Again, the Company upon completion of final due
diligence, intends to close on this property before 8/31/2011.
Finally, the Company is pleased to announce the appointment of
Mr. Alan Brass and Mr. Norman Marcus to the Board of Directors.
Alan Brass, age 61
Alan Brass, C.P.A., is a 1971
graduate of the University of South
Florida. Mr. Brass received his Certified Public Accountant
credentials in 1979, and is a member of the Florida Institute of
Certified Public Accountants.
Mr. Brass has served on the board of the Aging and Disability
Resource Center of Broward County
for 26 years, and served 2 years as its president.
Additionally, he has served on the board of directors and the
advisory board of the Lester H. White Unit of the Boys and Girls
Club in Fort Lauderdale,
Florida.
Norman Marcus, age 59
Norman Marcus graduated with a
Bachelor of Arts from Tulane
University, and earned a Juris Doctor from the University of
Miami. Mr. Marcus was licensed to practice law in the
State of Florida in 1975, and he
has continuously engaged in the private practice of law since that
time, operating his own firm since 1978. Mr. Marcus is also
certified by the Florida Supreme Court as a family mediator and he
is a qualified arbitrator under Florida law.
Barry Wattenberg, President of
Potash America, Inc. commented: "We are very excited about the
agreements we have recently signed in both Nevada and Canada. We feel both properties have
commercial potential and look forward to concluding our due
diligence as quickly and efficiently as possible. I am also very
pleased to have Mr. Marcus and Mr. Brass as members of our Board of
Directors. They have already proven to be valuable assets to the
Company."
About Potash America, Inc.:
Potash America, Inc. is an early stage Potash and Fertilizer
exploration and development company. PTAM is engaged in the
evaluation, acquisition and development of Potash and other
Fertilizer assets. The Companies focus is in the United States, Canada, and South
America.
About Potash:
Potash is a critical fertilizer, providing one of eight
essential nutrients and is vital to the creation of protein. It is
necessary and widely used to grow corn, wheat, soybeans, potatoes,
hay and numerous other crops.
About Montmorillonite:
Montmorillonite is a very soft phyllosilicate group of
minerals that typically form in microscopic crystals, forming a
clay. It is named after Montmorillon in France. Montmorillonite, a member of the
smectite family, is a 2:1 clay, meaning that it has 2 tetrahedral
sheets sandwiching a central octahedral sheet. The particles are
plate-shaped with an average diameter of approximately one
micrometre. Members of this group include saponite.
The water content of montmorillonite is variable and it
increases greatly in volume when it absorbs water. Chemically it is
hydrated sodium calcium aluminium magnesium silicate hydroxide
(Na,Ca)0.33(Al,Mg)2(Si4O10)(OH)2·nH2O. Potassium, iron, and
other cations are common substitutes, the exact ratio of cations
varies with source. It often occurs intermixed with chlorite,
muscovite, illite, cookeite, and kaolinite.
The uniqueness of the Sodaville, NV Deposit is the fact that it
is sedimentary not volcanic ash-based. This gives the substance
unique properties and uses. Unique types of the Montmorillonite
within the deposit have been shown in the past to have significant
applications in agriculture, both in farming and animal uses as
well as cosmetics, health care and specialty purposes. Pending
definitive assays, it appears that this deposit contains Trace
Elements (rare earth elements) in a form that enhances the plant or
animals ability to absorb/use these elements. The company will have
much more to say on this topic as the assays are completed.
Notice regarding forward looking statements
This news release contains "forward-looking statements", as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such forward-looking statements
include, among other things, the expectation of closing on t
eh Nevada and Newfoundland property acquisitions, the final
terms of such acquisitions, the commencement or completion of any
feasibility studies, and the results that may be obtained from any
exploration work that may be conducted.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration. These forward-looking statements are
made as of the date of this news release, and we assume no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that the
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that such
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set
forth herein and should also refer to the risk factors disclosure
outlined in our current and periodic reports filed from
time-to-time with the Securities and Exchange Commission.
SOURCE Potash America, Inc.
