Prospect Global Resources Inc. (NASDAQ: PGRX) (“Prospect Global” or the
“Company”) is pleased to announce that it has received its Air Quality
Control Permit (“Air Permit”) for the construction and operation of an
underground potash mine and surface processing facilities from the
Arizona Department of Environmental Quality (“ADEQ”).
The mine and facilities are to be located approximately 30 miles
southeast of the city of Holbrook, AZ in Apache County.
The Air Permit is for the emissions from a 2.2 million ton per annum,
two train processing plant and related mine production as contemplated
by the Company’s Preliminary Economic Assessment completed in December
2011. Prospect Global is continuing to evaluate building only one of the
two processing trains and related mine output with correspondingly
reduced emissions as analyzed in the Company’s Pre-Feasibility Study.
The Company is on track to finish its infill drilling program over the
next two weeks and complete an updated 43-101 resource report by the end
of 2013.
Regarding Forward-Looking Statements
With the exception of historical matters, the matters discussed in
this press release include forward-looking statements that involve risks
and uncertainties that could cause actual results to differ materially
from projections or estimates contained herein. Such forward-looking
statements include statements regarding current and future
classification of Prospect Global’s potash resources, development of its
potash resources and potash mining facility and the Pre-Feasibility
Study. Factors that could cause actual results to differ
materially from projections or estimates include, among others, potash
prices, economic and market conditions, and the additional risks
described in Prospect Global's filings with the SEC, including Prospect
Global's Annual Report on Form 10-K/A for the year ended March 31, 2013.
Most of these factors are beyond Prospect Global's ability to predict or
control. The forward-looking statements are made as of the date hereof
and, except as required under applicable securities legislation,
Prospect Global does not assume any obligation to update any
forward-looking statements. Readers are cautioned not to put undue
reliance on forward-looking statements.
About Prospect Global Resources Inc.
Prospect Global Resources Inc. is a Denver-based company engaged in
the exploration and development of a potash mine located in the Holbrook
Basin of eastern Arizona. Prospect Global’s stock is traded on the
NASDAQ Capital Market under the ticker symbol PGRX.
Additional details about Prospect Global Resources Inc. can be viewed
at the Company’s website, www.prospectgri.com.
Copyright Business Wire 2013