Americas Petrogas Inc.

Americas Petrogas Inc.
GrowMax Agri Corp.

GrowMax Agri Corp.

June 06, 2012 07:51 ET

GrowMax Provides Update on Bayovar, Peru Activities

CALGARY, ALBERTA--(Marketwire - June 6, 2012) - Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) provides an update of the progress of its subsidiary, GrowMax Agri Corp., at its Bayovar, Peru project involving both potash and phosphates.


GrowMax Agri Corp. and its subsidiary, Americas Potash Peru S.A. (collectively, "GrowMax") have drilled ten exploration/production brine wells earlier this year and have recently been conducting pumping tests on three of those wells, under the supervision of Ercosplan Ingenieurgesellschaft Geotechnik und Bergbau mbH ("Ercosplan"), the consultant that has been hired to complete the Company's NI 43-101 Resource assessment. The pumping tests are necessary in order to determine the flow rates, permeability, porosity and other characteristics of the area where the brine is located.

Pumping tests are continuing this month, and will be followed by compilation and analysis of the data. The Company has been advised by Ercosplan that a Resource assessment should be available in the third quarter of 2012.

Phosphates and Other Minerals

In 2011, GrowMax announced the completion of drilling of 15 phosphate wells. Recently, GrowMax retained a consultant to assist with overseeing GrowMax's activities relating to exploration for phosphates and delineation of resources. The consultant has also been requested to work towards preparation of a report in accordance with NI 43-101 pertaining to GrowMax's phosphate resources.

During the next two months, GrowMax is planning to drill 20 exploration wells to identify the presence and the extent of evaporites, phosphates, gypsum and other brines on its blocks at Bayovar.

Mr. Barclay Hambrook, President and CEO of Americas Petrogas, commented, "We are making steady progress on our Bayovar project with a clear goal of having a potash resource assessment completed in the near future. As well, we are furthering our exploration work on phosphates and other minerals."

Note: For updated presentations of GrowMax's Potash project, and GrowMax's Phosphates and other minerals project, please see GrowMax's website at

About Americas Petrogas Inc.

Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional shale oil and gas and tight sands oil and gas interests in numerous blocks in the Neuquen Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil and Apache, on various blocks in the shale oil and gas corridor in the Neuquen Basin, Argentina. For more information about Americas Petrogas, please visit

Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

In particular, statements (express or implied) regarding the timing of completion of pumping tests, the timing for completion, if at all, of a NI 43-101 report for potash and/or phosphates, and the number and timing of drilling of additional exploration wells to identify the presence and extent, if any, of evaporates, phosphates, gypsum and other brines should all be viewed as forward-looking statements. The presence of potash or phosphates is not necessarily indicative that potash or phosphates can be successfully produced in commercial quantities. There is no assurance that resources or reserves will be assigned based on the pumping and drilling results.

There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.


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