TORONTO, ONTARIO--(Marketwire - April 26, 2011) - Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE:FED)(TSX VENTURE:FED.WT) is pleased to announce that field camp construction is proceeding well and the camp is being readied to receive the drill crews by the end of the month, in anticipation of commencing the 15,000 meter drill program in early May.
Overall, the construction of the field camp is on budget and nearing completion. The waste and fresh water systems are being installed and the large capacity desalinization plan has arrived on site and will be up and running shortly. The cell phone tower is being erected and will enable the Danakil to hook into the national cell phone tower grid.
Convoys of equipment including the drills are starting to leave Mek'ele en route to the Property, and are expected to be on site in the first week of May.
Mr. Wahl, President and CEO of the Company stated "... I am very pleased with the progress and rate of camp construction, and commend the job that our team has done on the ground. We anticipate the drills being on site in the first week of May and are looking forward to the commencement of drilling, initially targeting the South-west corner of the property which currently hosts an inferred resource of 128 mil tonnes grading 21%."
About Ethiopian Potash Corp.
Ethiopian Potash Corp. (TSX VENTURE:FED)(TSX VENTURE:FED.WT) is a Canadian company based in Toronto, Ontario, and Addis Ababa, Ethiopia. Ethiopian Potash controls 481 sq km of shallow mineralisation potash development concessions in the fairway of the Danakil Depression, Ethiopia. The Company has an existing 128 mil tonne resource at 21% potash and is intent on aggressively fast-tracking its properties to production.
On behalf of the Board of Directors
David Wahl, President and CEO
This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.
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.