Stonegate provides update on Mantaro Phosphate Project in Peru

Stonegate Agricom, which is developing phosphate deposits in Idaho, USA and Peru, is pleased to provide an update on recent progress made towards allowable wastage of all building materialsobtaining exploration permits at its Mantaro Phosphate Project in Peru.

After completing a Category 1 exploration drilling program in the second quarter of 2011, Stonegate applied for a more extensive Category 2 exploration permit in order to obtain a better understanding of the size, grade and positioning of the deposit prior to completing a pre-feasibility study. The Company was notified on February 10, 2012 of the February 8, 2012 approval by the Peruvian Ministry of Energy and Mines of the semi-detailed Environmental Impact Assessment (EIA) related to the Category 2 exploration program. This was an essential step in completing the requirements to commence the exploration program. The next important step in the process is to obtain community approval. The Company is continuing to work with the local communities and relevant authorities to obtain all necessary permits and approvals. The Category 2 permit will allow exploration activities within specific non-metallic concessions. The planned program consists of two activities: approximately 18,000 metres of...