Mr. Mike Ferguson reports

GENSOURCE POTASH ANNOUNCES EXTENSION TO THE MATURITY DATE OF CONVERTIBLE DEBENTURES AND GRANTING OF STOCK OPTIONS

Gensource Potash Corp. has extended the maturity date of each of the 5 per cent convertible debentures of the company issued on Oct. 19, 2021, in the principal amount of $2-million, from June 30, 2023, to June 30, 2024. All other terms remain the same.

Certain directors and officers of the company are holders of debentures, holding a total of $1,785,000 principal amount of debentures. For a breakdown of the amounts held by the directors, together with the amount held by a former director, please refer to the company's AIM admission document (page 388) available on the company's website. The debenture amendments are deemed to be related party transactions as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is exempt from the formal valuation and minority approval requirements for related party transactions pursuant to Subsection 5.5(a) and Subsection 5.7(a) of MI 61-101, respectively.

The debenture amendments in respect of those held by certain directors and a former director constitute related party transactions under Rule 13 of the AIM rules for companies. Wayne Brownlee is the sole director on the board that does not hold any debentures, Mr. Brownlee, therefore as the independent director of the company confirms, having consulted with the company's nominated adviser, Strand Hanson Ltd., that the debenture amendments are fair and reasonable insofar as its shareholders are concerned.

The debenture amendments remain subject to receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

The company also announces that it has granted an aggregate of 15.4 million stock options, of which 14.9 million were granted to certain directors and senior officers of the corporation, at an exercise price of 12.5 cents per share and are exercisable for a period of five years. The options were granted under the company's stock option plan and each stock option entitles the holder to acquire one common share of the company. This grant of options remains subject to acceptance by the TSX Venture Exchange.

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 which will allow for a modular and economic potash production facility, that demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning.

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