Prospect Global Resources Inc.’s Pre-Feasibility Study Endorsed and
Supported by Sichuan Chemical
China’s Third Largest Chemical and Fertilizer Manufacturer Maintains
Enthusiasm about PGRX Holbrook Project
DENVER -- July 22, 2013
Prospect Global Resources Inc. (“Company” or “Prospect”) reports that in
response to the recent release of its Pre-Feasibility Study results, Sichuan
Chemical Industry Holding (Group) Co., Ltd. ("Sichuan Chemical") has responded
with its endorsement and support. Xiaojun Chen, Chairman of Sichuan Chemical’s
Board of Directors, stated, “We have been major supporters of the Holbrook
Project from the very early stages of its development. We support its new
management team and their incredible work in redesigning the mine and
processing plant. The fundamentals of the project remain solid and continue to
improve. As such, Sichuan Chemical is excited about its continuing partnership
with Prospect Global Resources and we are exploring ways in which we can make
the partnership more comprehensive.”
The Company continues to develop the strategic partnership with Sichuan
Chemical, China’s third largest chemical and fertilizer manufacturer. Damon
Barber, Prospect’s President and CEO, said, “We are very pleased that Sichuan
Chemical remains excited about its partnership with us and look forward to
continuing our work with them to refine the relationship. We appreciate the
confidence they have in our potash project and their interest in potential
future collaborative efforts to further our development.”
Prospect Global Resources Inc. is headquartered in Denver, Colorado.
About Prospect Global Resources Inc.
Prospect Global Resources Inc. is a Denver-based company engaged in the
exploration and development of a potash mine located in the Holbrook Basin of
eastern Arizona. Prospect Global’s stock is traded on the NASDAQ Capital
Market under the ticker symbol PGRX.
About Sichuan Chemical Industry Holding (Group) Co., Ltd.
Sichuan Chemical Industry Holding (Group) Co., Ltd. (SCIHC) is a provincial
state-owned enterprise with assets of RMB 20 billion. It is a large-scale
conglomerate involved in production and marketing of fertilizers and chemical
products, including phosphorite and coal. Additional business lines include
international commodities trade and chemical and technical services. SCIHC has
24,300 full-time employees, more than 5,000 of whom are technical
professionals. Sichuan Chemical has been a leader of China's chemical industry
for more than 50 years.
Additional details about Prospect Global Resources Inc. can be viewed at the
Company’s website, www.prospectgri.com.
Regarding Forward-Looking Statements
With the exception of historical matters, the matters discussed in this press
release include forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
projections or estimates contained herein. Such forward-looking statements
include statements regarding current and future classification of Prospect
Global’s potash resources, development of its potash resources and potash
mining facility and the Pre-Feasibility Study. Factors that could cause actual
results to differ materially from projections or estimates include, among
others, potash prices, economic and market conditions, and the additional
risks described in Prospect Global's filings with the SEC, including Prospect
Global's Annual Report on Form 10-K for the year ended March 31, 2013. Most of
these factors are beyond Prospect Global's ability to predict or control. The
forward-looking statements are made as of the date hereof and, except as
required under applicable securities legislation, Prospect Global does not
assume any obligation to update any forward-looking statements. Readers are
cautioned not to put undue reliance on forward-looking statements.
Prospect Global Resources Inc.
Mr. Gregory Dangler, CFO
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