Mr. Mike Ferguson reports

GENSOURCE ANNOUNCES $800,000 NON-BROKERED PRIVATE PLACEMENT

Gensource Potash Corp. has arranged a proposed best-effort, non-brokered private placement for gross proceeds of up to $800,000.

The offering will consist of: (i) up to 5,333,333 units of the company at a price of 15 cents per unit for gross proceeds of up to $800,000.

Each unit shall consist of one common share in the capital stock of the company and one common share purchase warrant of the company. Each warrant will be exercisable for one common share at an exercise price of 30 cents per warrant share for a period of 24 months following the date of issuance.

The company intends to use the net proceeds from the sale of the units to advance the company's Tugaske project and general working capital.

The offering will take place by way of a private placement to qualified investors in such provinces of Canada as the company may designate and otherwise in those jurisdictions where the offering can lawfully be made. The securities to be issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period from the date of issuance.

The offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including that of the TSX Venture Exchange.

A further update on the offering will be made as and when appropriate.

About Gensource Potash Corp.

Gensource is a fertilizer development company based in Saskatoon, Sask., and is on track to become the next fertilizer production company in that province. With a modular and environmentally leading approach to potash production, Gensource believes its technical and business model will be the future of the industry. Gensource operates under a business plan that has two key components: (1) vertical integration with the market to ensure that all production capacity built is directed and presold to a specific market, eliminating market-side risk; and (2) technical innovation that will allow for a modular and economic potash production facility that demonstrates environmental leadership within the industry, producing no salt tailings (therefore eliminating decommissioning risk) and requiring no surface brine ponds, thereby removing the single-largest and negative environmental aspect of potash mining.

We seek Safe Harbor.