DuSolo Obtains Operational License for Mining Site at Bomfim
August 28, 2014 (Source: Marketwired) — DuSolo Fertilizers Inc. (TSX VENTURE:DSF)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) (“DuSolo” or “the Company”) is very pleased to report it has received the Operational license (Licença de Operação) for mining phosphate at the Company’s Santiago Target. The License was granted by NATURATINS (Environmental Agency of Tocantins State) and expires in August, 2018. With this license now in place, the Company will be able to extract the high-grade phosphate discovered at the Santiago target to produce Direct Application Natural Fertilizer (“DANF”) – a fertilizer product highly popular amongst farmers and agricultural centers within close proximity to the Bomfim project.
“We are thrilled with this recent development as it moves us one step closer to an important corporate milestone,” commented Eran Friedlander, President and CEO of DuSolo. “The Company is now one permit away from commencing the extraction and processing of phosphate into fertilizers.”
The following permits required for DANF production have now been either obtained or are in the process of being obtained with decisions expected shortly:
- DANF Processing Facility Environmental License (Licença Ambiental) – OBTAINED
- DANF Processing Facility Operating License (Licença de Funcionamento) – OBTAINED
- Mining Site (Santiago Target) Operational license (Licença de Operação) – OBTAINED
- Mining Permit (Guia de Utilização)
DIRECT APPLICATION NATURAL FERTILIZER
With a processing facility now in place, DuSolo, through a series of crushers, screens and mills intends to process a small portion of the high-grade phosphate discovered at the Santiago target into three (3) DANF products of different phosphate grades (12%, 15%, 18% P2O5). Unlike other phosphare based fertilizer products, DANF processing is simple and apart of screen separation (a process that relies on physical attributes) does not entail flotation and/or further beneficiation. DANF is used alongside the standard and more costly Nitrogen, Phosphate and Potash (“NPK”) blend to compensate for elevated nutrient depletion as a result of heavy tropical rainfalls. Farmers in the region have become accustomed to using DANF on their crops over the past several years but due to recent restrictions in supply, are no longer able to source it locally. DuSolo, as a result of its recent high-grade discovery, intends to fill the current void in this rapidly expanding marketplace by providing farmers with a local alternative supply for years to come.
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ABOUT THE COMPANY
DuSolo Fertilizers Inc. is focused on developing a fully integrated process to produce phosphate based fertilizers within the Cerrado region of Brazil as part of a nationwide effort, incentivized by the government to increase supply of domestically sourced fertilizers and achieve agricultural self sufficiency.
The Company’s shares are publicly traded on the TSX Venture Exchange under the symbol DSF, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
DuSolo Fertilizers Inc.
Eran Friedlander, President
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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