RENO, Nev., Sept. 12, 2011 /PRNewswire/ -- Potash America, Inc. (OTCBB: PTAM), (the "Company") is pleased to announce that, subject to several minor technical issues, it has commenced the closing process in Nevada. The Company has entered into an agreement for the acquisition of 39 Mineral Claims in Sodaville, Nevada, and expects the closing process to be completed in the next few weeks. The Company, having completed its due diligence via geologic and agronomic studies, has agreed to acquire these historic Montmorillonite quarries with intent to enter the soil amendment subset of the fertilizer industry.
The Company has implied tonnage on the order of 20 million short tons. Application(s) to the Bureau of Land Management to further explore the true depths and characteristics of the deposits are currently being prepared. The implied figures and other results of the assays and geological studies are available on the company's web site www.Potashamerica.com. In that regard, the Company is also pleased to announce the establishment of its web domain www.potashamerica.com. While an ongoing work in-progress, the website should provide more detailed information about PTAM and our plans and goals.
The historic Sodaville Montmorillonite is clay of very rare value. While 100% Organic, it contains most of the rare earth minerals and trace elements necessary for plant nutrition. What makes it special is the high availability of these elements to transfer from the soil to the plants themselves. PTAM believes the series of products which may be developed from the deposits will position it significantly in the field of agricultural mineralization. The process of enriching the depleted soils of North America with a natural fertilizer/soil amendment to enrich crop yields.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable legislation. Other than statements of historical fact, all statements in this release addressing future operations, resource potential, exploration, prospects, leads and other contingencies with regard to the Sodaville property are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements due to factors such as market prices, exploration successes, continued availability of capital and financing, and general economic, market, political or business conditions.
Please see our public filings at www.sec.gov for further information.
For Additional Information, Contact:
Teresa Schaffer, shareholder/public relations
SOURCE Potash America, Inc.