Founder of Anatolia Minerals, James Davidson, Appointed Director and Non-Executive Chairman of Passport Potash Inc.
Mar. 3, 2011 (Marketwire) —
VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 03/03/11 — Passport Potash Inc. (TSX VENTURE:PPI) is pleased to announce the appointment of James Davidson as a director and non-executive Chairman of Passport Potash. A veteran of two decades in the mining business, Mr. Davidson was a founding director of Anatolia Minerals Development. He helped steward Anatolia’s growth from a penny stock to its recent transformation into Alacer Gold Corporation, (ASR - Toronto) an intermediate gold producer with 400,000 ounces of gold output annually, and a market cap of C$2.5 billion.
Davidson, the author of five books, is a graduate of the University of Maryland, and Oxford University. He is the Chairman of Ouro do Brazil Holdings Ltd. and is also a director of Core Values Mining and Exploration, Ltd., a private company developing gold resources in Colombia.
Passport President Joshua Bleak commented: “James Davidson has a proven record in developing and growing businesses. He has had a hand in launching five companies that attained a market cap of half a billion dollars or more, and a dozen others that became worth $100 million or more. We believe his deep industry knowledge and capital markets experience will accelerate the success of Passport Potash.”
“I am delighted to join with Passport Potash’s experienced mining team,” Mr. Davidson said. “According to the UN, the world’s population will reach 7.7 billion by 2020 and then escalate to 9.3 billion in 2050. All the while, the amount of arable land available to feed this increased population is expected to fall. Another UN estimate suggests that only 30% of the arable land used in the 1950s will be available in 2050. This points to a growing importance of potash.”
Passport also announces the resignation of Dr. Richard Hunter from its board of directors. “On behalf of the Passport Potash team, we would like to thank Dr. Hunter for his invaluable services provided to the company,” stated Joshua Bleak.
Passport Potash further announces that on Monday, March 14, 2011 it will be conducting a site visit of the Holbrook Basin potash project near Holbrook, AZ. This will be an opportunity to observe on-site progress and to interact with the Passport Potash management team. Any parties interested in attending, please email [email protected]
About Passport Potash
Passport Potash Inc. is a TSX-listed resource company engaged in the exploration and development of potash properties. Passport has acquired a strategic position in the Holbrook Basin with land holdings encompassing over 70,000 acres. Passport’s early entry into the Holbrook Basin has positioned it well to take advantage of the potential potash in the basin.
On behalf of the Board of Directors
PASSPORT POTASH INC.
Joshua Bleak, President
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedar.com.
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.
Passport Potash Inc.
Toll Free: (855) 476 9774 or (780) 920 5044
Source: Marketwire (March 3, 2011 - 3:27 PM EST)
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