Ringbolt Ventures Ltd.

Ringbolt Ventures Ltd.

March 10, 2008 19:14 ET

Ringbolt to Acquire Utah Potash Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2008) - Ringbolt Ventures Ltd. (TSX VENTURE:RBV)(FRANKFURT:3OZ) is pleased to announce that it has signed a letter of agreement with an American Private Company to acquire Potash leases in the Paradox Basin in Utah, USA.

Ringbolt has acquired strategic leases within the Paradox Basin which is a major Potash mining district. The United States Geological Survey estimates that the Paradox Basin contains 2 billion tons of Potash. The company is pleased with the geological location of the leases on an ancient saltwater inlet and with the nature of the Potash deposits.

Potash is a general term covering several types of potassium salts, of which the most important is potassium chloride, the mineral sylvite. Potash is a nutrient essential for plant growth, and is a cornerstone of modern agricultural fertilizers. Roughly 95 per cent of world potash production goes into fertilizer, while the other five per cent is used in commercial and industrial products - everything from soap to television tubes. Currently the United States imports more the half of the Potash that it consumes. About 93 percent of this is used for agricultural purposes.


On behalf of the Board of Directors

Jason Walsh, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

Contact Information

  • Ringbolt Ventures Ltd.
    Gavin Vanburren
    (604) 682-1643
    (604) 682-1666 (FAX)