Atlas Salt Inc. Announces Release with Conditions under the Environmental Protection Act for the Great Atlantic Salt Project
Atlas Salt Inc. Announces Release with Conditions under the
Environmental Protection Act for the Great Atlantic Salt Project
ST. JOHN'S, NL / ACCESSWIRE / April 19, 2024 / Atlas Salt Inc. ("Atlas" or the
"Company"; (TSXV:SALT)(OTCQB:REMRF) is pleased to announce that the Honourable
Bernard Davis, Newfoundland and Labrador (NL) Minister of Environment and Climate Change,
has released the proposed Great Atlantic Salt Project (the "Project") from the provincial
environmental assessment ("EA") process. The Minister's decision follows regulatory and public
review of the Project's Environmental Registration document, which was submitted to the NL
Department of Environment and Climate Change ("NLDECC") on February 29, 2024.
Rick LaBelle, CEO, commented: "Today's news is very positive. The Great Atlantic Salt Project
is poised to bring significant economic growth to the west coast of Newfoundland. Upon
completion of advanced engineering and construction, the project will be positioned to deliver
high-quality Canadian-made salt for markets in North America. We are grateful for the efficient
assessment of the Project by the Newfoundland and Labrador regulators and the NLDECC in
particular."
As is customary for projects released from the provincial EA process, the decision letter includes
certain terms and conditions with which Atlas must comply. Full terms of the release can be
viewed on the NLDECC website: https://www.gov.nl.ca/ecc/projects/project-2290/.
Today's news means that further provincial permitting can now proceed, which will position the
Project for development and eventual production. The release from the EA process represents a
crucial milestone in the Project's development and path to financing, construction and unlocking
stakeholder value.
"Throughout the EA planning process, the Great Atlantic Salt Project benefited from thoughtful
public engagement, which helped inform us on what the people of St. George's and western
Newfoundland value and want protected across environmental, community and sustainability
perspectives. We are fully committed to continuing this engagement as we progress this exciting
long-term project," said David Robbins, VP ICI Innovations and Senior Environmental
Consultant to Atlas.
Background to Today's News
On August 28, 2023, Atlas released results of a Feasibility Study for the Project, outlining a 34-
year mine life producing 2.5 million tonnes of rock salt per year, with access to the deposit via
twin declines. Extraction of rock salt would occur using the room and pillar method with
continuous mining equipment. Salt would be processed to a specific size and grade using a
crushing and screening plant located within the underground mine and transported to surface via
conveyor belts. The above ground design envisions an overland conveyor transporting rock salt
from the mine area to an existing port for loading onto ships destined for Canadian and American
markets.
Atlas Salt believes that the Project will significantly contribute to the local and regional
economies and create numerous highly skilled generational employment opportunities.
The Project's strategic advantage lies in its location close to potential markets, environmental
sustainability and its projected economic viability. The near -surface location of the deposit,
coupled with its proximity to essential infrastructure, signific antly enhances the project's value.
The innovative design which optimizes the use of electrical energy contributes to the Project's low
GHG emissions while also bolstering its financial attractiveness, presenting a compelling case for
environmentally conscious and economically sound mining.
For further information and ongoing updates, please visit https://atlassalt.com/.
Qualified Persons
The technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf
of the Company by Patrick J. Laracy, P. Geo, Chairman of Atlas Salt, a qualified person.
About Atlas Salt Inc.
Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and
sustainable mining practices. With a focus on innovation and efficiency, the company is poised
to make significant contributions to the North American salt market while upholding its values of
environmental stewardship and community engagement.
For information, please contact:
Richard LaBelle, CEO
(709) 739-9545
We seek safe harbor.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined
in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This press release includes certain "forward-looking information" and
"forward-looking statements" (collectively "forward-looking statements") within the meaning of
applicable Canadian securities legislation. All statements, other than statements of historical
fact, included herein, without limitation, statements relating to the future operating or financial
performance of the Company, are forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking
statements in this press release relate to, among other things: completion, delivery and timing of
project components and requirements, and analysis and assumptions related thereto. Actual
future results may differ materially. There can be no assurance that such statements will prove to
be accurate, and actual results and future events could differ materially from those anticipated
in such statements. Forward-looking statements reflect the beliefs, opinions and projections on
the date the statements are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the respective parties, are inherently subject to significant
business, technical, economic, and competitive uncertainties and contingencies. Many factors,
both known and unknown, could cause actual results, performance or achievements to be
materially different from the results, performance or achievements that are or may be expressed
or implied by such forward-looking statements and the parties have made assumptions and
estimates based on or related to many of these factors. Such factors include, without limitation:
the timing, completion and delivery of required permits, contract agreements, supply
arrangements and financing. Readers should not place undue reliance on the forward-looking
statements and information contained in this news release concerning these times. Except as
required by law, the Company does not assume any obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change.
SOURCE: Atlas Salt