Crystal Peak Minerals Announces Signed Record of Decision and Project Update
Crystal Peak Minerals Announces Signed Record of Decision and Project
Update
TORONTO, Aug. 28, 2019 -- Crystal Peak Minerals Inc. (Crystal Peak or the Company) (TSXV: CPM, OTCQX: CPMMF)
is pleased to announce receipt of the Record of Decision ( ROD) from the U.S. Department of the Interior for its Sevier Playa
Project (the Project) located in west central Utah.
• Major milestone in the continued development of CPM – significantly “de-risks” the Project
• On-playa construction is authorized to begin
• Enables Crystal Peak to accelerate financing and offtake arrangements
The Assistant Secretary of the Interior for Land and Minerals Management, Joseph Balash, signed the ROD in a ceremony
held Tuesday, August 27th in Salt Lake City, Utah. Mr. Balash’s signature means that the ROD is now in “full force and effect”
indicating that playa construction is now authorized. Also attending the ceremony were U.S. Representative Chris Stewart,
leadership from the Utah Department of Natural Resources, state, district, and field office personnel from the Bureau of Land
Management, Millard County commissioners, and the permitting team for the Company.
John Mansanti, Chief Executive Officer of Crystal Peak, said, “The signing of the ROD is the most important milestone in this
company’s history. As one of the few greenfield SOP projects approved in the world, we are absolutely thrilled. Securing the
ROD initiates an exciting phase for the Company. We look forward to a number of important announcements in the coming
months in relation to financing, offtake, and the Project.”
Project Update
Receipt of the ROD is a significant milestone for the Project and facilitates other key activities. These include:
• In consultation with its advisers and prospective financiers, Crystal Peak has been working on optimization
opportunities and engineering required to develop the Project.
• In parallel, the Company is engaged with several off-take candidates with strong North American and global distribution
networks.
• Additionally, BNP Paribas continues to advise the Company on securing debt financing for the Project, and the
Company is in advanced stages of selecting an advisor to assist with obtaining the required equity finance.
Upon receipt of funding and completion of detailed engineering, the Company will be in a position to begin construction in
2020.
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.
For further information, please contact:
Woods Silleroy
Corporate Secretary
(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 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/087bd727-9f08-453c-8116-f1f338b5988a