VANCOUVER, March 29, 2017 /CNW/ – Encanto Potash Corp. (“Encanto” or the “Company”) (TSXV: EPO) announces that an Order in Council P.C. 2017-258 was issued on March 24, 2017 by the Governor in Council, ending a multi-year process that has culminated in the successful conclusion of the First Nations Commercial and Industrial Development Act (“FNCIDA”) process and the delivery of the Muskowekwan First Nation Solution Potash Mining Regulations into law.
The process enables the Muskowekwan First Nation, who had decided to pursue a large scale commercial or industrial on-reserve project (in this case, a large scale potash mine partnered with Encanto Potash) to request the Government of Canada to develop regulations applying to this specific project on a specific piece of reserve land.
FNCIDA works by essentially reproducing the provincial rules and regulations that apply to similar large-scale commercial or industrial projects off reserves and applying them to a specific on-reserve project.
This approach, called incorporation by reference, ensures that both on and off-reserve projects are subject to similar regulatory regimes levelling the playing field. It offers protection for Muskowekwan people, lands and environment and increases certainty for investors, developers and the public while minimizing costs.
In accordance with the FNCIDA Act, an agreement has been concluded between the Federal Minister of Indian Affairs and Northern Development, the Honourable Carolyn Bennett, the Province of Saskatchewan and the Council of the Muskowekwan First Nation for the administration and enforcement of the Regulations by Provincial officials and bodies. Encanto is now in receipt of these regulations, duly signed by the Clerk of the Privy Council, whose office (PCO) is the hub of non-partisan, public service support to the Prime Minister and Cabinet and its decision making structures.
Muskowekwan First Nation Chief Reginald Bellerose commented: “I’m thankful to past and present MFN Council; Indigenous and Northern Affairs Canada; Department of Justice; Osler, Hoskin & Harcourt LLP; Province of Saskatchewan and Encanto Potash for their efforts and joint collaboration to get these regulations finalized. There were many hands at all levels of government demonstrating an unprecedented level of cooperation and support between themselves and our own Nation. It took some time, but all involved wanted to ensure that we got this precedent setting process entirely right.”
Encanto President, Stavros Daskos commented: “I’d like to personally thank Chief Bellerose and his team for their dedicated and tireless efforts in bringing this process to a successful conclusion. This was entirely a government (First Nation) to government (Canadian Federal Government) to government (Province of Saskatchewan) transaction which resulted in a historic agreement between all parties. This represents a critical piece in a Pro First Nations Federal Government, to ensure a favourable investment climate for the development of the first potash mine on First Nation’s land.”
Encanto Potash Corp. is a TSX Venture Exchange listed and traded Canadian resource company engaged in the development of potash properties in the Province of Saskatchewan, Canada, the largest producing potash region in the world. Through a joint venture agreement with Muskowekwan Resources Ltd. on our flagship property, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. A Pre-Feasibility Study dated February 28, 2013 titled “Encanto Potash Corp.
Technical Report Summarizing the Preliminary Feasibility Study for the Muskowekwan First Nations Home Reserve Project in South Eastern Saskatchewan, Canada” confirms the Proven and Probable KCI Reserves totaling 162 MMt grading 28% (average) which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.
The technical content of this news release has been reviewed and approved by James Walchuck, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the Company’s website at www.encantopotash.com or review the Company’s documents filed on www.sedar.com.
For further information: Encanto Potash Corp., 3123 – 595 Burrard Street, Vancouver, BC V7X 1J1, Tel: (604) 609-6110; Gary Deathe, Corporate Development, Tel: (647) 728-7987
For the original source of this news release, click here: http://www.newswire.ca/news-releases/first-nations-commercial-and-industrial-development-act-finalized-by-order-in-council-to-allow-for-future-on-reserve-potash-mine-development-617525793.html