Brazil Potash Corp.

Brazil Potash Corp.

January 15, 2010 07:30 ET

Brazil Potash Corp. Commences Drill Program at Amazonas State Potash Project

BELO HORIZONTE, BRAZIL--(Marketwire - Jan. 15, 2010) - Brazil Potash Corp. ("Brazil Potash" or the "Company") reports that drilling has commenced with respect to the previously announced award of drilling contract on its extensive property in the State of Amazonas, Brazil (See Press Release dated November 3, 2009). Two diamond drills and other equipment are on site and drilling with the first rig commenced on January 8 and is continuing at approximately 300 meters depth. The second drill is setting up and is expected to be drilling by January 19th. All environmental permits and access agreements with surface land holders are in place. Brazil Potash has established two field offices in communities near the initial drill targets to service the program.

Pursuant to the Company's exploration plans and the terms of the drilling contract with Boart Longyear Latin America, the program will focus on two target areas within the 400-kilometer-long Amazon potash basin, as outlined in the map below. Vertical HQ drill holes will be used to test the extensive potash-bearing salt layer, as outlined by analysis of borehole and seismic data on the property and surrounding area. Geologically the basin has many characteristics similar to the Saskatchewan and Urals Basins which are the largest potash producing basins in the world. The Company intends to use the results from this drilling to establish a NI 43-101 resource.

Helio Diniz, Managing Director, Brazil Operations, Potassio do Brasil remarks, "The startup marks a key milestone for the Company and we are excited to get the drills turning. We have developed an extensive initial program based on a systematic analysis of the available petroleum and geological databases and have prioritized targets for initial drilling. With the drills turning, we anticipate results within approximately eight weeks of collaring the first drill hole."

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About Brazil Potash Corp.

Brazil Potash Corp. is a private Brazilian potash exploration company with a base of operations located in Belo Horizonte, Brazil. The Company holds the key mineral rights in the 400-kilometer long Amazon potash basin. Geological, Seismic and borehole surveys indicate the basin has similar scale, geological properties and is the same age as the Saskatchewan basin in Canada.

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Cautionary Note Regarding Forward-looking Information

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of applicable securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the Company's plan of business operations; projections regarding future success based on past success; availability of financing on acceptable terms; ability to identify and execute investments; investment philosophy and business purposes; projected costs and expenditures; potential benefits of the business; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. In particular, past success or achievement does not guarantee future success. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward- looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward- looking information, whether as a result of new information, future events or otherwise.

Contact Information

  • Brazil Potash Corp.
    Helio Diniz
    Managing Director, Brazil Operations
    +55 31 3505 5200
    Brazil Potash Corp.
    Aaron Wolfe
    Vice President, Corporate Development
    +1 (416) 309-2696