Announces Appointment of Chairman
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FOR IMMEDIATE RELEASE
CRYSTAL PEAK MINERALS INC.
ANNOUNCES APPOINTMENT OF CHAIRMAN
Toronto, July 6, 2017 - Crystal Peak Minerals Inc. ( “Crystal Peak ” or the “Company”)
(TSXV: CPM, OTCQX: CPMMF) is pleased to announce that Herbert E. “Bud” Scruggs, who
was elected to the Board of Directors of the Company (“Board”) at the last Annual and General
Meeting of Shareholders, has been appointed as the non-executive chairman of the Board. In this
role, he will help oversee the Company ’s Sevier Playa Sulphate of Potash Project in
southwestern Utah.
“We are very excited to have Bud join the Board and assume the role of chairman ,” said Lance
D’Ambrosio, Chief Executive Officer of Crystal Peak. “He brings a wealth of business,
financial, and political expertise. I am certain h is contribution s will help propel us through
financing and into the construction phase.”
“I am honored to join the board of Crystal Peak Minerals,” added Bud Scruggs. “I have followed
the great progress made with this project over the past few years . I look forward to working with
the entire team to help bring this project on-line.”
Mr. Scruggs is a founding partner of The Cynosure Group, a Salt Lake City based compa ny
formed to bring together the resources of the Eccles family of Utah with other family offices to
make long-term equity investments in private companie s across a range of industries. Prior to
that, Mr. Scruggs played a key role as a senior executive at L eucadia National Corporation and
also advised some of the wealthiest families in the world, including working as CEO of The
Metal Group (now the Minderoo Group), the private holding company of Andrew Forrest in
Perth, Australia.
In addition to serving on the Board, Mr. Scruggs is a director of Linkem (broadband provider in
Italy), Snowbird Ski Resort, and the University of Utah Health Insurance Plans. In the past, he
has served as a director of several public and private companies including American Inves tment
Bank, Barbados Light & Power, Conwed Plastics, Fortescue Metals Group (one of the largest
mining companies in Australia), Poseidon Nickel, Deseret Morning News , Empire Insurance,
and MK Gold . He has served on multiple audit and executive committees. He also worked as
Chief of Staff to Governor Norman Bangerter of Utah and was a co -founder and partner with
Governor Michael Leavitt of Utah of the Public Affairs Advisory Group.
Mr. Scruggs received a B.A. in Political Science from Brigham Young University and his JD
from BYU’s J. Reuben Clark Law School.
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About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium specialty fertilizers. Crystal Peak controls,
directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Playa
property in Millard County, Utah. With a brine mineral resource known to contain potassium,
magnesium, sulphate, lithium, and a suite of other beneficia l minerals, Crystal Peak is targeting
the production of specialty fertilizers, initially focused on potassium sulphate ( “SOP”), through
the use of a cost -effective solar evaporation process. SOP and other specialty fertilizers are used
in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts.
Crystal Peak is currently engaged in engineering and analysis designed to support a feasibility
study, environmental permitting, and ultimately mineral production.
For further information, please contact:
Lance D’Ambrosio
Chief Executive Officer
(801) 485-0223
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.
Forward-Looking Information
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
feasibility study and the results thereof; the targeting of the development and production of
specialty fertilizers and associated minerals, including SOP, lithium, and magnesium compounds
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 ce rtain 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 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 no t 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 n ot 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.