Confederation Minerals Ltd. (TSX-V: CFM) is pleased to announce that American Potash LLC, a Nevada corporation owned equally by Confederation Minerals Ltd. and Magna Resources Ltd., has acquired 28 line-miles (46.7 line-km) of historic 2-D seismic data covering the approximate area of three proposed and three historic exploration well locations at its Green River Potash Project in the Paradox Basin of southeast Utah. The amount of historic 2-D seismic data in the Green River Potash Project area of interest (AOI) is significant and will assist in determining stratigraphic depths to target horizons, interpreting geologic structures, and targeting proposed and future exploration wells. The lines incorporating the seismic data are located in the northwest portion of the Green River Potash Project AOI, pass through and/or are very near to historic and proposed well locations, are oriented NW-SE and NE-SW, and roughly define an approximately 16-square mile (41.4 square km) square area.
The seismic data are related to historic oil and gas exploration in the Paradox Basin by Conoco-Phillips and Shell Oil and were acquired from their archives for American Potash by Seismic Exchange, Inc. The selection of seismic lines was based on project area coverage and data quality. American Potash plans to locate proposed potash exploration wells on Utah State Leases on or near several of these historic seismic lines.
The newly acquired seismic data is being re-processed by Excel Geophysical Services, Denver, Colorado. Data interpretation is being performed by geophysicists at ExporTech of Denver, Colorado, who have performed seismic services for oil and gas companies in salt basin environments as well as recent interpretive work in the Holbrook Basin, Arizona for potash exploration
Mr. Kent Ausburn, P.Geo., a qualified person as defined by National Instrument 43‐101, has reviewed the technical aspects of this news release.
On Behalf of the Board,
Confederation Minerals Ltd.
Lawrence A.Dick, Ph.D., P.Geo
President, CEO, and Director
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Lawrence Dick, President
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Confederation Minerals Ltd. (the "Company") expects to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company 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. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.