DuSolo Fertilizers Inc.

DuSolo Fertilizers Inc.

January 28, 2015 21:47 ET

DuSolo Fertilizers Inc.: News Release to Clarify Disclosures

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 28, 2015) - DuSolo Fertilizers Inc., (TSX VENTURE:DSF)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) ("DuSolo" or "the Company") reports that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify certain of our previous disclosures.

August 11, 2014 News Release

Regarding the news release dated August 11, 2014, the section titled "Direct Application Natural Fertilizer", the Company is restating its disclosure about mineral production and expansion at the Bomfim property. The following statement taken from the August 11, 2014 news release is retracted and replaced with additional cautionary statements regarding the lack of reserves supported by a feasibility study, which increases the risks of technical and economic failure. It will therefore now read:

"With the facility now in place, DuSolo, through a series of crushers, screens and mills intends to process any high-grade phosphate discovered at the Santiago target into three (3) DANF products of different phosphate grades (12%, 15%, 18% P2O5). Any DANF produced will then be sold to local farms and agricultural centers in the vicinity of the project's area. DANF is used alongside the standard and more costly Nitrogen Phosphate and Potash ("NPK") blend to compensate for elevated nutrient depletion as a result of heavy tropical rainfalls. Farmers in the region have become accustomed to using DANF on their crops over the past several years but due to recent restrictions in supply, are no longer able to source it locally. DuSolo, as a result of its recent high-grade discovery, intends to fill the current void in this rapidly expanding marketplace by providing farmers with a local alternative supply.

The Company is not basing its decision to begin production of DANF on a feasibility study of mineral reserves demonstrating economic and technical viability. Without a technical report demonstrating economic and technical viability, there is increased uncertainty as to whether DuSolo will be able to economically produce DANF products and as to whether DuSolo will be confronted with any unforeseen technical impediments. Similarly, the Company has not completed a preliminary economic assessment before making production and project expansion decisions."

November 24, 2014 News Release

In the section titled "Scout Drilling Program", the first of the Company's intended activities describes the Company's intention to drill the remaining "exploration potential" of certain target ranges in Santiago, Bomfim Hill and Amaury target areas and add to the already defined resources in these targets (as per the NI 43-101 Initial Resource Estimate published on January 22nd, 2014). The Company adds the following language:

"The potential quantities (10 - 20 million tonnes) and grades (5.5 - 10% P2O5) disclosed in the discussion of "exploration potential" in the aforementioned drilling targets are conceptual in nature and there has been insufficient exploration to define a mineral resource for the additional "exploration potential" targets disclosed therein. It is uncertain if further exploration will result in this additional "exploration potential" yielding a mineral resource. The basis for estimating the target ranges of the additional "exploration potential" is based on block modeling, drilling, detailed mapping, and surface sampling.

Mauricio Prado, Bomfim's Project Manager, is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical disclosure of this news release on behalf of the Company."


DuSolo Fertilizers Inc. (TSX VENTURE:DSF)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) is a Canadian based, phosphate producer operating in the world's fastest growing agricultural district - the Brazilian "Cerrado" where demand for fertilizers far exceeds domestic supply.

On behalf of the Board of Directors

DuSolo Fertilizers Inc.

Eran Friedlander, President

Forward-looking statements

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: whether economic or technical issues will be encountered when producing DANF products; whether drilling targets will be achieved; market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • DuSolo Fertilizers Inc.
    Patrick Brandreth
    Senior Manager, Corporate Development