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Lake Disappointment SOP project receives government approval

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World Fertilizer,

Reward Minerals has announced that Western Australia's Minister for Environment, Stephen Dawson, has consulted with other decision-making authorities and reached agreement, consistent with section 45(1) of the Environmental Protection Act 1986, that the Lake Disappointment potash project may be implemented.

CEO Greg Cochran commented: “This is the most significant milestone to date for the Lake Disappointment project. Having been assessed at the most detailed level of all the WA sulfate of potash (SOP) projects, this is a testimony to the tireless efforts of our team of highly experienced consultants and the challenging, yet always professional engagement we had with EPA regulators throughout the four-year assessment. In achieving this milestone Lake Disappointment has become only the second WA SOP project to be approved.”

He added: “This approval comes during a tumultuous time when we are, as a nation, facing substantial economic challenges and it’s great to be one tangible step closer to the development of Australia’s largest high-grade SOP deposit. We remain optimistic that Commonwealth environmental approval for the project will be forthcoming in the near future in the light of the State approval. After all, the State and Commonwealth environmental assessments of the Lake Disappointment project commenced simultaneously. The project also meets the Australian Government’s desire to encourage investment and development to create much needed jobs, particularly in remote regions.”

Reward is an ASX-listed advanced-stage exploration and development company. The Lake Disappointment SOP project is located 340 km east of Newman in the Little Sandy Desert of north-western Western Australia. The project hosts Australia’s largest high-grade brine SOP deposit.

Reward completed a detailed, conservative pre-feasibility study for the project in April 2018 and updated it with improved logistics costs in July 2018. An Indigenous Land Use Agreement has been executed with the Martu people, the traditional owners of the land, which will enable mining to commence on completion of final feasibility studies, regulatory approvals and achievement of funding.

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