Potash America, Inc. announced that during mid-March, the company entered into a Letter Of Intent covering the purchase of 100 percent of the potash claims located in Newfoundland, Canada, title 018321M that is part of the historic St. Finton's Potash Intercept.
The company joins several other junior miners in this area. The historical data and due diligence reviewed by the company indicates that the company intends to close on the property by 6/8/2011; with the hope of beginning a feasibility study shortly thereafter.
The company would like to further announce that on May 11, 2011, it entered into a Letter Of Intent to acquire a 100 percent interest in 39 Bureau of Land Management Claims in Mineral County, Nevada. The claims cover the unique deposit of Sedimentary Montmorillonite just south of Sodaville, Nev. The claims have previously been 'worked' and much historical data about Montmorillonite and this particular site exists. Again, the Company upon completion of final due diligence, intends to close on this property before 8/31/2011.