Crystal Peak Minerals Inc. Announces the Filing of the Feasibility Study for Its Sevier Playa Potash Project

Toronto, Ontario, CANADA


TORONTO, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Crystal Peak Minerals Inc. (“Crystal Peak” or the “Company”) (TSX-V:CPM) (OTCQX:CPMMF) today announced the filing on SEDAR of a technical report entitled “NI 43-101 Technical Report Summarizing the Feasibility Study for the Sevier Playa Potash Project, Millard County, Utah” dated effective January 11, 2018, and prepared by Novopro Projects Inc. (Novopro), and Norwest Corporation (Norwest) (the “Technical Report”).

The Technical Report outlines the results of the Feasibility Study (“FS”) of Crystal Peak’s Sevier Lake Playa Sulfate of Potash Project located in southwestern Utah. The Company first reported the economic results of the FS in a press release dated January 11, 2018.

Qualified Persons
Each of the qualified persons shown below has reviewed and approved the scientific and technical disclosures contained in the Technical Report and the FS and is responsible for their respective report sections. Qualified persons are independent of the Company and have reviewed or verified all data in the Technical Report including sampling, analytical, and test results underlying the information or opinions contained therein.

The qualified persons are:

  • Mr. J. Brebner, P. Eng., QP, (Novopro) is the QP responsible for the infrastructure, market studies and contracts, Capital Cost, environmental studies, permitting, social or community impact portion of the Report, and the overall preparation of the Report.
  • Mr. A. Lefaivre, P. Eng., QP, (Novopro) is the QP responsible for the mineral processing and metallurgical testing and recovery methods portion of the Report.
  • Mr. D. Bairos, P. Eng., QP, (Novopro) is the QP responsible for the Capital Cost and Operating Cost estimates, and risk analysis portion of the Report.
  • Mr. C. Laxer, P. Eng., QP, (Novopro) is the QP responsible for the economic analysis portion of the Report.
  • Mr. L. Henchel, P. Geo., QP, (Norwest) is the QP responsible for the history, geology, exploration, drilling, sample preparation, analyses and security, data verification, and Mineral Resource estimate portion of the Report.
  • Mr. R. Reinke, P. Geo., QP, (Norwest) is the QP responsible for the Mineral Reserve estimate, groundwater modeling, and mining methods portion of the Report.
  • Mr. S. Ennis, P. Eng., QP, (Norwest) is the QP responsible for the geotechnical design and mining methods portion of the Report.

The Technical Report is available on Crystal Peak’s SEDAR profile page at www.sedar.com as well as on the Company’s website at www.crystalpeakminerals.com.

About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium specialty fertilizers. The Company 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, sulfate, bromine, and other beneficial minerals, Crystal Peak is targeting the production of specialty fertilizers and associated products through the use of brine extraction and 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.

For further information, please contact:
John Mansanti
Chief Executive Officer
(801) 485-0223
jgmansanti@crystalpeakminerals.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.

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 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.