11 Oct 2010 08:11
For immediate release:
Sirius Minerals Plc
("Sirius" or the "Company")
Dakota Salts: land acquisition programme update
The Directors of Sirius Minerals Plc (AIM: SXX, OTC: SRUXY), the potash mining group, are pleased to announce that its wholly owned subsidiary, Dakota Salts LLC ("Dakota Salts"), has acquired a further 1,425 net mineral acres of lease areas adjacent to its existing properties in North Dakota.
1,028 net mineral acres have been acquired from multiple unconnected owners in the area for nominal initial cash payments per mineral acre with royalty payments due on mining production. A further 397 net mineral acres have been purchased by Dakota Salts under a five year lease from North Dakota's State University and School Board Lands department for a total consideration of $49,260.24. The Company now controls some 7,425 net mineral acres of lease areas overlying the Williston Basin, having an overall land position of approximately 18,500 gross mineral acres within North Dakota.
Chris Catlow, Chairman of Sirius, commented:
"Sirius holds a substantial data bank on the geology of the Williston Basin and the potash/salt deposits within it. The information has been fully analysed by the Company and its partners; this has allowed us to identify target locations. We are now acquiring land accordingly and will continue to work closely with the State and our partners in North Dakota to enable Sirius to expand its operational presence in the region, Dakota Salts having recently been granted the first potash specific drill permit in the State for 30 years."
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For further information, please contact:
| Sirius Minerals Plc |
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| Richard Poulden (Deputy Chairman) | Tel: +971 504 524 994 |
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| Beaumont Cornish Limited (Nomad) |
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| Roland Cornish | Tel: +44 (0) 207 628 3396 |
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| XCAP Securities Plc (Joint Broker) |
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| John Grant, Karen Kelly, David Newton | Tel: +44 (0) 20 7101 7070 |
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| Daniel Stewart & Company Plc (Joint Broker) |
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| Christopher Theis / Emma Earl | Tel: + 44 (0) 20 7776 6550 |
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| Gth Media Relations | Tel: + 44 (0) 20 3103 3903/ 3902 |
| Toby Hall/Christian Pickel |
Website: www.siriusminerals.com