Mr. Mike Ferguson reports

GENSOURCE POTASH ANNOUNCES FIRST CLOSING OF PRIVATE PLACEMENT OFFERING OF UNITS

Gensource Potash Corp. has completed the first closing of a private placement offering of units of the company at a price of 15 cents per unit. Each unit consists of one common share in the capital stock of the company and one common share purchase warrant of the company. Each warrant is exercisable for one common share at an exercise price of 25 cents per warrant share for a period of 18 months following the date of issuance, subject to the call right of the company described below. The company anticipates holding a second closing of the offering in the coming days.

At the first closing of the offering, the company issued 9,598,500 units for aggregate gross proceeds of $1,439,775. The common shares and warrants comprising the units issued pursuant to the offering are subject to a statutory hold period of four months and a day from the date of issuance.

In the event that the common shares have a closing price on the TSX Venture Exchange, or other exchange on which they may be traded, at or exceeding 30 cents per common share for 10 consecutive trading days, the company reserves the right to call the warrants at their exercise price of 25 cents per warrant. If the company wishes to exercise its call right, the company must provide written notice to the holders of the warrants that it is calling the warrants. Warrantholders will have 30 days from the date of such notice to exercise the warrants and, in the event that any warrants are not exercised, such warrants shall be cancelled.

The company intends to use the net proceeds from the sale of the units to support its previously announced transaction with a large and diversified Southeast Asian conglomerate and for general corporate purposes.

"We are very pleased to have completed the first tranche of this financing, a meaningful milestone that strengthens Gensource's balance sheet and reinforces our strategic momentum. The proceeds from this closing, together with our anticipated second tranche, will allow us to continue advancing our previously announced partnership in Southeast Asia and our shared commitment to sustainable potash development. In addition, the funds will support ongoing work toward a final investment decision. I would like to thank our team and financial partners for their continued support as we position the company to execute on our strategy and create long-term value for all stakeholders," said Mike Ferguson.

In consideration for their services, certain persons received a cash commission equal to 6 per cent of the gross proceeds of the common shares sold buy such finder and compensation warrants to purchase common shares equal to 6 per cent of the total number of units sold by such finder, exercisable for 18 months from the first closing date at 15 cents per common share. The broker warrants are subject to the same call right of the company as the warrants, as described above. At the first closing of the offering, the company paid $86,386.50 in cash commissions and issued 575,910 broker warrants.

The first closing of the offering remains subject to the final approval 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 that demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning.

We seek Safe Harbor.