Crystal Peak Minerals Inc.

Crystal Peak Minerals Inc.

January 03, 2018 07:00 ET

Crystal Peak Minerals Inc. Announces the Appointment of New Chief Executive Officer

TORONTO, ONTARIO--(Marketwired - Jan. 3, 2018) - Crystal Peak Minerals Inc. ("Crystal Peak" or the "Company") (TSX VENTURE:CPM)(OTCQX:CPMMF) announced that it has appointed John Mansanti as President and Chief Executive Officer ("CEO") of the Company effective January 2nd. Mr. Mansanti will replace Lance D'Ambrosio who has stepped down as President and Chief Executive Officer and as director. Mr. D'Ambrosio served as Crystal Peak's President and Chief Executive Officer since the Company's listing on the TSX Venture Exchange in 2011.

With more than 35 years of experience leading teams in the successful development, construction, and operation of mining projects, Mr. Mansanti is a highly experienced mining executive. Recognized multiple times for his leadership and technical skills, he has spent most of his career in precious metals and potash. In addition to smaller companies, Mr. Mansanti has worked for Intrepid Potash, Barrick Gold, Placer Dome, Newmont Mining, and Freeport McMoRan. He currently serves on the board of directors for Rye Patch Gold.

A graduate of the Montana College of Mineral Science and Technology, Mr. Mansanti holds a B.S. in chemistry and a M.S. in mineral processing engineering. He has worked as a professional engineer and has published multiple technical papers. He is also an active member of the Society for Mining, Metallurgy, and Exploration (SME) and is currently serving as its president.

"I am truly pleased to welcome John to our Company," said Lance D'Ambrosio, departing CEO of Crystal Peak. "He brings the perfect mix of big company experience, familiarity with potash, and project and operational know-how. This is the skill set that we will need as we move the Company forward into construction and finally operations." Mr. D'Ambrosio added; "I have had a great time working here these past years so I want to thank everyone involved. And, as a shareholder, I will be excited to watch as John delivers tremendous shareholder value."

"I am delighted to be joining the Crystal Peak team and to continue the work that Lance started." said Mr. Mansanti. "There are very few prospects as promising as this one and I look forward to leading our team as we create value and develop this rare asset into a world class operation."

As part of his employment agreement, Mr. Mansanti will be granted an aggregate of 3,902,889 restricted share units ("RSUs") pursuant to the Company's Restricted Share Unit Plan. The RSUs will vest into common shares of the Company in installments based upon achieving certain project milestones.

About Crystal Peak Minerals Inc.

Crystal Peak is focused on the production of premium specialty fertilizers. Crystal Peak controls, directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Playa property in Millard County, Utah. With a brine mineral resource known to contain potassium, magnesium, sulphate, lithium, and a suite of other beneficial minerals, Crystal Peak is targeting the production of specialty fertilizers, initially focused on potassium sulphate ("SOP"), through the use of a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts. Crystal Peak is currently engaged in engineering and analysis designed to support a feasibility study, environmental permitting, and ultimately mineral production.

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 feasibility study and the results thereof; the targeting of the development and production of specialty fertilizers and associated minerals, including SOP, lithium, and magnesium compounds 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 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.

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