TORONTO, Jan. 3, 2013 /CNW/ - EPM Mining Ventures Inc. ("EPM" or the
"Company") (TSXV: EPK - OTCQX: EPMMF) today announced the signing of a
contract with CH2M HILL ("CH2") and Agapito Associates, Inc. ("AAI") to
produce a Preliminary Feasibility Study ("PFS") for the production of
Sulfate of Potash ("SOP") from its Sevier Dry Lake Potash project
located in southwestern Utah. With US $6.4 billion in revenue and
30,000 employees worldwide, CH2 is a global leader in full-service
consulting, design, design-build, operations, and program management
services for public and private clients. AAI has provided consulting
and engineering services to mining companies producing base metals,
precious metals, trona, potash, and salt. Their potash and fertilizer
clients include Potash One, Intrepid Mining, Vale, Rio Tinto, Western
Potash, and others.
Lance D'Ambrosio, Chief Executive Officer of EPM, said; "We are very
pleased to continue our relationship with CH2 and to welcome Agapito to
our project. After the encouraging results of our preliminary economic
assessment, we look forward to completing this next step and moving
seamlessly to the Definitive Feasibility Study."
The estimated completion date of the PFS will be mid-2013 and will serve
as an important milestone leading to the Company's Definitive
Feasibility Study anticipated to be completed by late 2013. It will
build upon the recently completed preliminary economic assessment which
indicated SOP production of 300,000 metric tonnes ("MT") with an
estimated Net Present Value of $956.5 million (pre-tax, inflated, 8%
discount rate) and an estimated Net Present Value of $629.7 million
(after tax, inflated, 8% discount rate); and with an estimated Internal
Rate of Return of 30% (pre-tax, inflated) and an estimated Internal
Rate of Return of 24% (after tax, inflated).
Team Expansion
In order to effectively manage the environmental effort and permitting
process, EPM is pleased to announce that LeeAnn Diamond P.G. has joined
the team. Having worked on environmental, geological, and geotechnical
projects for many years, LeeAnn has a wide variety of compliance and
technical experience. Before joining Peak Minerals Inc., the Company's
U.S. subsidiary, she worked for Kleinfelder Inc. as a project manager
where she had many responsibilities including supervising NEPA, EPA
Brownfields, RCRA Subtitle D landfill, Phase I and Phase II
Environmental Site Assessments, and transportation projects. LeeAnn has
five years' experience as the lead technical writer and project manager
on several National Park NEPA projects in the western United States. As
a task manager and field engineer, she spent nine years managing
surface, groundwater, leachate, and methane monitoring and reporting,
as well as NPDES and air permitting for a RCRA Subtitle D landfill.
LeeAnn provided project management oversight, Phase I assessments, and
public outreach, including public open house meetings and individual
stakeholder meetings for Salt Lake County's 135-acre West Millcreek EPA
Brownfields project. For Utah Department of Transportation, she
provided environmental compliance oversight on the Legacy Parkway
Project, including identification and disposal of hazardous materials,
coordinating abatement and abandonment activities and providing quality
assurance review of all environmental project documents. LeeAnn earned
her Bachelor of Science in Geological Engineering from the University
of Utah and is a Registered Professional Geologist.
Lance D'Ambrosio, Chief Executive Officer of EPM, said; "We are very
pleased to welcome LeeAnn to the EPM team at a time when we are moving
our project to the next stage. Her experience, skills, and in-depth
knowledge of Utah's permitting process strengthens our in-house
know-how and adds necessary expertise as we build our preeminent SOP
project."
About EPM Mining Ventures
EPM, through its wholly owned subsidiary Peak Minerals Inc., controls
directly or through agreement, mineral leases on more than 124,000
acres on the Sevier Dry Lake property in Millard County, Utah. EPM is
targeting the future development and production of Sulfate of Potash
(SOP), a premium priced fertilizer used with special crops and soil
types, through a cost-effective solar evaporation methodology.
For more information on the Company, please visit our web site at www.epmmining.com.
Neither 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.
SOURCE: EPM Mining Ventures Inc.
