Encanto Potash trades on the otcqx, provides further information on off-reserve meetings, land designation vote and preliminary economic assessment

Jun. 8, 2011 (Canada NewsWire Group) --

TRADING SYMBOL:  TSX.V : EPO

VANCOUVER, June 8, 2011 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV:  EPO) (OTCQX: ENCTF) is pleased to announce that it has qualified for trading on the OTCQX and that its shares have begun trading effective June 7, 2011 under the symbol ENCTF.  The Company will continue to trade on the TSX Venture Exchange under the symbol EPO.

ABOUT THE OTCQX

The OTCQX offers international companies a visible presence in the U.S. on the premier tier of the OTC market. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange.

Encanto President Jim Walchuck commented "We have been invited to present to institutional investors in New York and other areas and one of the first questions we hear is "where are you listed, how do we buy your stock in the U.S.". We feel that trading on the OTCQX will open our shares up to even further liquidity and a new range of potential investors as we move towards an exciting period in our growth as a company." Encanto is pleased to join other OTCQX traded companies like San Gold, B2Gold, Crocodile Gold, Rio Alto Mining as well as multi-billion dollar international companies such as Deutsche Telecom, Marks & Spencer, Adidas and Air France.

The Company has also just completed a series of meetings with portfolio managers and analysts in both Toronto and Montreal which were very well received.

OFF RESERVE MEETINGS UPCOMING

Encanto is also pleased to report that off-reserve meetings to be held for the benefit of its joint venture partners will be proceeding in the latter half of July. Muskowekwan First Nation Chief Reginald Bellerose will be holding open sessions in Regina, Calgary, Winnipeg, Saskatoon and Edmonton in an effort to ensure that all band members are fully aware of the benefits offered through the partnership with Encanto, leading up to a late September vote to include the Treaty Land Entitlement property into the existing joint venture agreement.

Chief Reginald Bellerose explains the voting process: "We have approximately 1,050 eligible voters, many of whom don't live on the Home Reserve.  For the vote to be considered a legal vote at least 51% of the eligible voters must cast a vote.  For the vote to be successful at least 51% of those voting must cast in favour. In the unlikely event that a sufficient number of voters don't participate in the first vote, a second vote will be held on the Home Reserve 35 days after the first vote.  For the second vote to be successful a simple majority is required from those who vote.  I am optimistic that the vote will be successful on the first vote.  I say that as I ran on a pro potash forum in our recent elections for Chief and Council.  The majority of candidates also ran on a pro potash forum as did all 8 successful councilors.  This is obviously a very strong mandate from our citizens to aggressively pursue our Joint Venture agreement with Encanto."

PRELIMINARY ECONOMIC ASSESSMENT

Encanto further reports that our upcoming Preliminary Economic Assessment (PEA) remains on schedule to be released in the first half of August. The PEA is designed to determine the most economical method for extraction and make a recommendation on a solution or conventional mining operation. The current objective of the Company is to develop an 80 - 100 year resource on the Muskowekwan land package and then continue with the necessary steps to develop a producing mine as quickly as possible. 

We're aware from our recent institutional presentations in Toronto and Montreal, that the investment community eagerly anticipates the delivery of our PEA.

ABOUT ENCANTO

Encanto Potash Corp. is a TSX Venture Exchange-listed Canadian resource company engaged in the exploration and development of potash properties in the Province of Saskatchewan, Canada, the largest producing region for potash in the world.

For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"James Walchuck"

Per:     

James Walchuck

President and CEO

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE ACTUAL RESULTS OF EXPLORATION ACTIVITIES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY MARKETS, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE LAW.