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Western Potash Corp. · PDF file• Appointed to Western Potash Corp. Board of Directors in...

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  • Western Potash Corp.January 2018

    Milestone Phase I Project Corporate Presentation

  • 5

    World-class Resources & Reserves

    Milestone Project Advantages

    Good Location & Infrastructure

    1

    2

    3

    Innovative Technology & Access to Market

    4

    Supportive Government & Community

    Milestone Potash Project 01

    WESTERN

    POTASHTSX: WRX FSE: WR0

    Management Team

  • Western Potash Corp., a wholly owned subsidiary ofWestern Resources Corp., is dedicated to becoming apioneer in the potash selective solution mining sector.

    The Company intends to develop its world-class depositin a more innovative, efficient and low-cost manner.

    Corporate Vision

    WESTERN

    POTASH02

  • Skilled Management Team

    Patrick Power Director Co-Founder of Western Potash Corp. Instrumental in assisting the Company in its Strategic and Market

    Financings since inception Over 25 years experience in mining finance, management and venture

    capital

    Zheng Mianping Director Over 50 years experience as a pioneer of the salt lake mineral industry Has Degrees in Geology and Engineering and was awarded the Chinese

    National Science Congress Award as well as the State Science and Technology Progress Award

    Bill Xue Chairman of the Board Appointed to Western Potash Corp. Board of Directors in Sept. 2015 Over 20 years experience in project and investment management

    (public and private sectors) Law Degree and MBA

    George Gao Director and CEO Currently COO of Western Resources Corp. Previously President of the Beijing Mining Exchange & Head of Business

    Development and Chief Representative for Toronto Stock Exchange MBA and Bachelor of Economics

    Tony Gao Director of Finance Canadian Chartered Professional Accountant, Chartered Accountant and

    Certified Management Accountant Bachelor of Law Degree Master of Management and Professional Accounting Degree

    Matthew Wood Senior Vice President, Projects Former President of Vale Potash Canada Limited, and Senior Project Leader

    of Vales Kronau Project Extensive experience in potash solution mining, process and project

    management with two large multi-national companies Ph.D in chemical engineering

    Jerry Zhang Director of Administration Corporate Secretary Extensive experience in administration management with government and

    private enterprises MA in International Communication & Ph.D in International Relations.

    Zhimao Ma Director and Vice Chairman Senior Engineer and General Manager of Legal and Assets Management

    Department of CBC Deep potash and fertilizer commercial experience Bachelor of Science Degree and Masters Degree

    03 WESTERN POTASH

  • Disclaimer

    TSX: WRX FSE: WR0

    May. 2007

    Western Potash

    Incorporated

    May. 2008

    Western Potash IPO

    on TSX Venture

    Jul. 2011

    WPX graduated

    to TSX

    Dec. 2012

    Completed Feasibility

    Study on 2.8 million

    tonne capacity

    Milestone Project

    Apr. 2013

    Milestone Project

    EA approved

    Sep. 2015

    Tairui Innovation Capital

    Management Ltd. Holds

    51% stake

    Jun. 2013

    China BlueChemical

    (Canada) secured 19.9%

    investment

    Dec. 2016

    Completed Class 3 AACE

    Milestone Phase I Project

    Final Engineering Report

    Apr. 2017

    WPC went private, WRX

    became parent Company

    WESTERN

    POTASH

    Historical Achievements

    Jun. 2017

    Amended EA

    approval received

    Aug. 2017

    Signed Project

    Agreement with RM

    of Lajord

    04

    Nov. 2017

    Renegotiated Water

    Supply Agreement

    with City of Regina

  • TSX: WRX FSE: WR0 05WESTERN

    POTASH

    Capex ~$ 100 million

    Annual Production 146,000 tonnes

    Lifespan 12 years

    146,000 Tonne Phase I Project

    Milestone Potash Project

    Capex ~$3.3 billion

    Annual Production 2.8 million tonnes

    Lifespan 40+ years

    2,800,000 Tonne Phase II & III Project

    Currency $: Canadian dollars

  • TSX: WRX FSE: WR0 06WESTERN

    POTASH

    Western Potash Corp. acquired 17 quarter sections of surface land for Milestone Phase I Project site, and the Phase II and Phase III 2.8 million tonne full scale plant site

    Mineral rights that WPC has acquired totals more than 148,000 acres of mineral leases (crown and freehold)

    The mineral rights in dark green are owned by WPC

    Rights in light green are partially owned by WPC

    Large-scale resource with significant exploration upside to support 40+ year mine life

    Land and Mineral Rights Acquired

  • TSX: WRX FSE: WR0 07WESTERN

    POTASH

    Average KCl

    Grade (%)

    In-Place Tonnage

    (Mt)

    In-Place KCl

    Tonnage (Mt)

    Recoverable KCl

    (Mt)

    Proven Reserves 26.99 171.21 46.22 35.842,6

    Probable Reserves 26.80 509.67 136.57 101.442,6

    Measured Resource 20.9 230.6 48.2 15.713,4,6

    Indicated Resource 21.2 539.5 114.4 36.843,4,6

    Inferred Resource 25.8 10,706 2,765 708.183,4,5,6

    Notes:

    1 Search radius of 800 m used for Proven and Measured; 1.6 km outside radius and 2.5 km inner radius (between drill holes) used for Probable and Indicated; and 8.0 km radius used for Inferred. K2O cut-off grade = 15%; Density = 2.08 t/m3, KCl = 1.58303 K2O

    2 Accounts for known geologic anomalies, unknown geologic anomalies (5% for Proven, 9% for Probable), and recoverable tonnages of KCl contained in caverns within the search radius. Accounts for 87.3% cavern, and 93.5% plant KCl recoveries

    3 Accounts for known geologic anomalies, unknown geologic anomalies (5% for Measured, 9% for Indicated, 25% for Inferred), extraction ratio (34.6%) and appropriate buffer zones around towns and plant site4 Resources exclude amounts that have been identified as Reserves. Resources that are not Reserves have no demonstrated economic viability 5 Inferred Resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of Inferred Resources will ever be

    upgraded to a higher category6 The Proven and Probable reserves that are reported are based on the January 2013 NI-43-101 report and are for wells M003 through M009. The recoverable KCl Measured and Indicated Resources are based on the

    January 2013 NI-43-101 report and are for Wells M001, M002 and M002A. The Recoverable KCl Inferred Resources are based on the January 2013 NI-43-101 report and are within Crown and Leased Freehold Areas.

    Large-scale resource with significant exploration upside to support 40+ year mine life

    Reserves & Resources Overview1

    Large-Scale, High-Grade Resource

  • TSX: WRX FSE: WR0 08WESTERN

    POTASH

    Strategically located about 35 km southeast of Regina, Saskatchewan, Canada

    Mineral Lease secured, Engineering for Phase I Project completed, Environmental Assessment approved

    Strategically Located

    Adjacent to mining rights of other big potash companies, and in the same region as other operating solution mines

    Saskatchewan owns about 46% of the worlds potash reserves, and is the largest potash producer in the world.

  • WESTERN

    POTASH

    Full Infrastructures Available

    TSX: WRX FSE: WR0

    RAILNATURAL GAS PORTROAD POWER WATER

    All utilities required for the Milestone Project are nearby, water supply secured for the full scale project by agreement with Regina Wastewater Treatment Plant

    09

  • TSX: WRX FSE: WR0 10WESTERN

    POTASH

    Horizontal Drilling

    Selective solution Mining

    Innovative Solutions add up to the efficiency envisioned at Milestone

    Proven & Innovative Mining Technology

    Crystallization

    Ponds

  • TSX: WRX FSE: WR0 11WESTERN

    POTASH

    Milestone Potash Project- General Geology Overview

    Depth to potash members:

    ~800m near Saskatoon

    1,600m-1,700m near Regina

    3,000m in North Dakota

    Salt Back

    Thickness (m) Formation Grade (KCl %)

    12.20m

    4.80m

    5.3m

    26.7%

    29.9%

    39.5%

    Patience Lake Member

    Belle Plaine Member

    Esterhazy Member

    Lower Salt Interbed and White Bear Member

    Quality Resource: High Grade KCl, Low Carnallite & Insolubles

    Salt Back

    Phase I Project Mining Target

    -Potash Geology M-008 (WPX Western Riceton 16-05-14-17 W2M)

  • TSX: WRX FSE: WR0 12WESTERN

    POTASH

    Salt Back

    Higher formation temperature yields at least 18% savings in energy consumption

    Higher formation temperature increases solution mining efficiency

    Formation Temperature Advantage

  • TSX: WRX FSE: WR0 13WESTERN

    POTASH

    Eti Soda Ankara, Turkey Intrepid Potash Moab, Utah

    Selective Solution Mining has been proven in other operations around the world

    Mosaic Belle Plaine Potash Mine K+S Legacy Projects, Canada

    Crystallization Ponds / Product Drying and Finishing in operating mines in Saskatchewan

    Using Proven Technology

  • TSX: WRX FSE: WR0 14WESTERN

    POTASH

    Using Innovative Technology

    The success of the innovative technology in the Milestone Phase I Project could revolutionize the way potash is extracted in Canada

    Lower Environmental Impact compared to traditional methods

    No Tailings on surface, salt remained underground less subsidence

    Half the water consumption Phase I water so

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