St. John’s, Newfoundland and Labrador: Red Moon Potash Inc. (“the Company” – “Red Moon” TSX-V: RMK), announces that it has engaged D&D Securities of Toronto to act as its advisor in advancing the Captain Cook salt project in western Newfoundland to a feasibility stage. The agreement is for a term of six months.
The Company recently had a Resource Assessment Report completed on the Captain Cook project as per news release dated January 14, 2016. Drilling at the project has discovered a relatively shallow, large tonnage, high grade salt deposit adjacent to the site of a former gypsum mine. The project has access to extensive infrastructure including a port, constructed by the former gypsum mine operator that is located approximately 5 kilometers by haulage road from the discovery hole. The Trans-Canada highway and several other secondary roads and high voltage power lines cross the property. The Stephenville airport is a 20-minute drive from the property (visit www.redmoonpotash.com for further information).
The Company also reports that it has received a $7,222 grant from the Junior Exploration Assistance Program as a contribution towards its 2015 project evaluation. It graciously acknowledges the support of the Department of Natural Resources of the Government of Newfoundland and Labrador in this regard.
Patrick J. Laracy, P. Geo, President is the qualified person responsible for the contents of this news release as defined in National Instrument 43-101.
Red Moon is an exploration company focused on the development of the Captain Cook salt deposit in Western Newfoundland. Vulcan Minerals Inc. (TSX.V: VUL) owns approximately 67% of the common shares of Red Moon and owns a 3% royalty on the project lands.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, President