Mr. Farhad Abasov reports
ALLANA POTASH FILES UPDATED MINERAL RESOURCE ESTIMATE TECHNICAL REPORT FOR ITS DANAKHIL POTASH PROJECT
Allana Potash Corp. has filed a National Instrument 43-101-compliant technical report dated April 30, 2012, and completed by Ercosplan Ingenieurgesellschaft Geotechnik und Bergau on SEDAR. The technical report is with respect to Allana's updated resource estimate completed on the company's Danakhil Potash deposit, located in the Afar state, Ethiopia, the results of which were announced in a press release of the company dated April 30, 2012, and filed on the SEDAR profile of the company.
Highlights of the Danakhil potash deposit resource update include:
Total measured and indicated mineral resources of 1,297 million tonnes
from all four potash horizons with an average grade of 19.3 per cent KCl for a
total of 251 million tonnes of contained KCl;
An additional inferred mineral resource of 588.2 million tonnes from all
four potash horizons with an average grade of 18.6 per cent KCl for a total of
109 million tonnes of contained KCl;
Total measured and indicated sylvinite resource of 171.4 million tonnes
with an average grade of 31 per cent KCl for a total of 53 million tonnes of
Total inferred sylvinite resource of 46.6 million tonnes with an average
grade of 30.3 per cent KCl for a total of 14 million tonnes of KCl.
Farhad Abasov, president and chief executive officer of Allana, commented: "Allana is very pleased to file this NI 43-101-compliant mineral resource update technical report prepared by Ercosplan. This resource estimate represents a significant increase in almost all categories from the 2011 mineral resource estimate and will form the resource base for our ongoing feasibility study. Since this resource was calculated, 14 additional exploration holes have been completed and Allana anticipates completing another resource update in fourth quarter 2012."
Peter J. MacLean, PhD, PGeo, Allana's senior vice-president of exploration, is a qualified person as defined under National Instrument 43-101 and has reviewed and approved the scientific and technical information presented in this release.
We seek Safe Harbor.