VANCOUVER, BRITISH COLUMBIA- (June 4, 2015) - Passport Potash Inc. (“Passport” or the “Company”) (TSX.V: PPI)(OTC PINK: PPRTF) is pleased to announce that David Salisbury has been appointed as its Chief Executive Officer (“CEO”). Mr. Salisbury has served as a Director and Chairman of Passport’s Board of Directors since January 2012, and will maintain those positions in addition to his new duties as CEO.
As previously reported, Mr. Salisbury has had an extensive career in the mining industry, spanning four decades, including seventeen years with Rio Tinto plc. During his career he has had experience in almost all phases of mine development and operation, including: operating and capital budget development, operating cost control, product quality, profit/loss analysis, engineering, safety, field operations and maintenance, strategic planning, environmental compliance, market development, merger and acquisition analysis, employee relations, community relations, public relations and government relations at both the state and federal levels.
Mr. Salisbury was President and CEO of Resolution Copper Mining (“Resolution”) from 2008 to his retirement on January 31, 2011. At Resolution he was responsible for the development of a deep underground copper mine in Superior, Arizona. One of his primary responsibilities was a legislative land exchange involving 3025 acres of federal land in exchange for 5500 acres of ecologically important private land. His role at Resolution required significant interaction and engagement with members of the U. S. Congress, federal agencies, the Governor of the State of Arizona and State legislators.
From 2006 through 2008, Mr. Salisbury was President and CEO of Kennecott Minerals Company, where he was responsible for the comprehensive management of underground operations in Juneau, Alaska; open cut/heap leach gold in Nevada; and the development and construction of an underground nickel operation in Michigan.
Mr. Salisbury was a leader for the Rio Tinto global improvement program, Improving Performance Together, from 2004 through 2006. He led one of four major streams of work aimed at bringing about radical change in the way Rio Tinto conducts business. This responsibility covered the engineering and operation of processing operations at all Rio Tinto operations and involved leading a team of eight general managers and managers in diagnosing current state, formulating solutions, implementing pilot trials and ultimately rolling out change across the global group.
Mr. Salisbury was Managing Director and CEO of Rössing Uranium Ltd. The Rössing mine employed 1200 people and produces U3O8 for the global nuclear fuel industry, representing 8% of the global primary supply. During his tenure the mine achieved its historical best safety performance while increasing production with a staff decreased by 33%.
“This has been a difficult period for Passport,” commented Mr. Salisbury, “but I am convinced that we can turn things around. I maintain that this is still one of the best new potash projects in the world, with solid fundamentals and great potential.”
The Company further announces that it has received notice of resignation from Joshua Bleak as President, CEO and as a Director of the Company. The Board of Directors would like to thank Mr. Bleak for his services to the Company and wish him well in his future endeavors.
About the Holbrook Potash Project
Passport Potash Inc. is a publicly traded corporation engaged in the exploration and development of advanced potash properties with its major focus on a previously explored potash property in Arizona. Passport has acquired a strategic position in the Holbrook Basin.
On behalf of the Board of Directors
PASSPORT POTASH INC.
David Salisbury, CEO
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Passport Potash Inc.
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