Mr. Mike Ferguson reports

GENSOURCE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Gensource Potash Corp. has arranged a proposed best efforts, non-brokered private placement for gross proceeds of up to $700,000.

The offering will consist of up to 4,666,666 units of the company at a price of 15 cents per unit for gross proceeds of up to $700,000.

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 complete fieldwork on its Tugaske potash project and for general working capital purposes.

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.

It is anticipated that some or all of the subscribers for the offering will be insiders of the company. Sales of units to insiders will be considered to be related party transactions for the purposes of National Instrument 61-101, Protection of Minority Security Holders in Special Transactions. It is anticipated that the company will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on sections 5.5(b) and 5.7(a) of MI 61-101.

The offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including that of 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, demonstrating environmental leadership within the industry, producing no salt tailings and therefore eliminating decommissioning.

We seek Safe Harbor.