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Last updated on April 23, 2014 at 21:24 EDT

North Atlantic Potash announces 43-101 compliant resources for Foam Lake Property

January 17, 2013

SASKATOON, Jan. 17, 2013 /CNW/ – North Atlantic Potash Inc. (North
Atlantic), the Canadian subsidiary of JSC Acron, has completed an
11-hole drilling project on its wholly owned Foam Lake Potash Property.
In addition, 330 kilometres of 2D seismic were acquired by Boyd
Petrosearch on behalf of North Atlantic. The internationally recognized
potash geologic firm North Rim Exploration Ltd. prepared the 43-101
compliant Resource Summary Report for Foam Lake. The results to date
have confirmed 942 million tonnes in-place at 19% K(2)O (30% KCL) with 218 million tonnes Indicated and 724 million tonnes
Inferred.

The Foam Lake Property consists of four contiguous Potash Permits, KP
382, 383, 508, 509, covering an area of 318,000 acres. The drill
program consisted of 11 holes with three holes in KP 382, five holes in
KP 508, two holes in KP 509 and one hole in KP 383. Three typical
Saskatchewan Potash Members were intersected and sampled which
included: the Patience Lake, Belle Plaine and Esterhazy Members. As
expected the Esterhazy Member was the most consistent of the three
potash zones intersected and is the bases of the resource estimate.

“We are very pleased with the results of our intensive exploration
program in the Foam Lake area which encourages us to move forward to
the next stage in our development. With the strong financial and
extensive fertilizer experience from our parent JSC Acron, this project
and the Joint Venture we are pursuing with Rio Tinto in southern
Saskatchewan presents a very promising future for our company.” said
Arie Zuckerman, President of North Atlantic Potash. “Our goal remains
to move the company towards potash development in Saskatchewan.”

“In one short year following our very successful agreements with Yancoal
and Rio Tinto in September 2011, we’ve accomplished a significant
amount of work delineating our potash assets in Saskatchewan.” added
David Waugh, CEO of North Atlantic Potash. “As we expand our resource
base knowledge we’ll continue to leverage our holdings to advance our
overall global potash development strategy.”

North Atlantic Potash
North Atlantic Potash Inc. is focused on development of potash
production in Canada. We currently possess one of the largest potash
permitted acreages in the world over the Saskatchewan Potash belt. Our
business was established in 2008 with the acquisition of over 2.1
million acres of exploration permits with the goal to develop a potash
mine.  www.northatlanticpotash.com

JSC Acron
Acron is a fast-growing group of interrelated companies and one of
the leading global mineral fertilizer producers. Key business
segments include ammonia, nitrogen and complex mineral fertilizers, as
well as organic and non-organic compounds. The Group includes three
major production facilities, its own logistics infrastructure, an
international sales network, and is investing in its own raw material
base. www.acron.ru/en/

SOURCE North Atlantic Potash Inc.


Source: PR Newswire