PGRX Receives Air Quality Permit for Construction and Operation of Holbrook
Permit Marks Major Project Milestone
Air Quality Permit is a Globally Recognized Mining Permit Required for
DENVER -- October 2, 2013
Prospect Global Resources Inc. (NASDAQ: PGRX) (“Prospect Global” or the
“Company”) is pleased to announce that it has received its Air Quality Control
Permit (“Air Permit”) for the construction and operation of an underground
potash mine and surface processing facilities from the Arizona Department of
Environmental Quality (“ADEQ”).
The mine and facilities are to be located approximately 30 miles southeast of
the city of Holbrook, AZ in Apache County.
The Air Permit is for the emissions from a 2.2 million ton per annum, two
train processing plant and related mine production as contemplated by the
Company’s Preliminary Economic Assessment completed in December 2011. Prospect
Global is continuing to evaluate building only one of the two processing
trains and related mine output with correspondingly reduced emissions as
analyzed in the Company’s Pre-Feasibility Study.
The Company is on track to finish its infill drilling program over the next
two weeks and complete an updated 43-101 resource report by the end of 2013.
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/A 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.
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.
Additional details about Prospect Global Resources Inc. can be viewed at the
Company’s website, www.prospectgri.com.
The Rose Group
Elana Weiss, 310-280-3710
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