Western Potash Corp. celebrated its 17th anniversary with gratitude at the monthly staff meeting on April 5, 2024, where we shared our recent successes and looked ahead to the future.

During the staff meeting, the Deputy Plant Manager highlighted our achievements from the past quarter, focusing on meeting production goals while emphasizing the importance of safety above all else. Meanwhile, Jerry, the Senior Vice President, outlined our progress in funding and upcoming mining plans. Throughout the meeting and celebration, the team underlined the significance of maintaining high morale amongst our team. We believe that a motivated workforce is essential for continued success. Cheers to another year of hard work and success for our team at Western Potash Corp.!

Vancouver BC – Western Resources Corp. (the “Company”) (TSX: WRX) is pleased to announce that Western Potash Corp. (“Western Potash”), the Company’s 100% owned subsidiary, received the second tranche of funds in the amount of CAD$5 million from Vantage Chance Limited (“Vantage”). The transaction, set out in the Company’s news release of August 15, 2023, has now closed.

On August 15th, 2023, Western Potash signed an exchangeable debenture subscription agreement with Vantage, pursuant to which Vantage agreed to subscribe for a CAD$10 million exchangeable debenture (the “Exchangeable Debenture”) to be issued by Western Potash upon receipt of the full amount. Western Potash received the first tranche payment of CAD$5 million in September 2023.  This CAD$5 million payment is the second and final payment required to be made by Vantage to Western Potash under the terms of the Exchangeable Debenture.

The Company will file the Exchangeable Debenture under the Company's profile on SEDAR at www.sedarplus.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Xue
Chairman and CEO

For more information on the contents of this release please contact Jack Xue, Corporate Secretary, at 306-924-9378.

October 24, 2023, Kronau, SK – Western Potash Corp. (“Western” or the “Company”) is pleased to announce that it successfully hosted a Community Open House at the Kronau Curling Club, Kronau, SK on October 19, 2023.  The gathering was intended to keep local residents informed of the progress, future plans, and any potential impacts on the community as well as employment opportunities of the Milestone Potash Phase 1 Project “Project"), which is the first major industrial facility in the RM of Lajord.       

The Project construction was resumed in May last year immediately after Western closed its Project financings with Vantage Chance Limited and Appian Capital Advisory. Since then, there has been significant progress achieved in the construction of the process plant and the mine development. Community members were thrilled to see the various aspects of the Project development through a full slide presentation as shown in the below photo.

Residents expressed their interest and appreciation of the job opportunities that the Project has brought to the neighbourhood.  Western staff also engaged in constructive discussions with community members, answer questions and collected feedback, all of which will be crucial in the enhancement of closer community relations in the years to come.  

The Community Open House received an overwhelming response and attracted more than 60 local community members, including the Reeve and Councillors from the Rural Municipality of Lajord. Western’s management team were all present in the event.

Western Potash is thrilled to extend a warm invitation to our valued local community for the Western Potash Phase I Potash Project Community Open House. Join us as we share the most recent updates and insights on the project's remarkable progress, offering a glimpse into our journey ahead.

Date: October 19, 2023

Time: 4:00 PM - 7:00 PM

Location: Kronau Curling Club, 5 Main Street, Kronau, SK

What to Expect:

• Company Presentation: Get an in-depth look at the Western Potash Phase I Potash Project and its significance for our community.
• Q&A Session: Have your questions answered by our project experts.
• Food & Drinks: Enjoy complimentary refreshments throughout the event.
• Gifts: Take home memorable tokens from the event.
• Exciting Draw: Participate in our draw for a chance to win one of the prepaid Visa cards, with values of $100 and $200 ! 

This is a unique opportunity to learn more about the project, engage with our team, and connect with fellow community members. We value your presence and hope to see you there!

For more information or inquiries, please feel free to contact us.

Mark your calendars, and we look forward to sharing this special evening with you.

Tuesday, August 15, 2023 Vancouver BC – Western Resources Corp. (the “Company” or “WRX”) (TSX: WRX) is pleased to announce today that Western Potash Corp. (“Western Potash”), the Company’s 100% owned subsidiary, has signed an exchangeable debenture subscription agreement with Vantage Chance Limited (“Vantage”), pursuant to which Vantage will subscribe for a CAD$10 million exchangeable debenture (the “Exchangeable Debenture”) issued by Western Potash (the "Transaction").

Pursuant to the Exchangeable Debenture, within one year from the date of final operational completion date of Milestone Phase 1 Project, Vantage may choose to exercise an option to assign all or a portion of the outstanding principal amount, together with any accrued and unpaid interest (the “Exchangeable Amount”), to the Company, in exchange for such number of the Company’s common shares (the “Exchange Shares”) equal to the Exchangeable Amount divided by the Exchange Price then in effect, subject to a maximum number of 40,868,047 Exchange Shares (representing 10% of the total issued and outstanding WRX common shares on a non-diluted basis on the issue date) being issuable to Vantage. The Exchange Price is a price per common share of the Company equal to the 5-day volume weighted average trading price of the common shares of the Company immediately preceding the date that the exchange occurs. To the extent that the 40,868,047 Exchange Shares are insufficient to satisfy the entire Exchangeable Amount based on the then Exchange Price, any remaining Exchangeable Amount will be paid by Western Potash in cash.

The Transaction is expected to close by the end of September 2023. The purpose of the Transaction is to allow Western Potash to further enhance the production readiness of its Milestone Phase 1 Project. Vantage is a Hong Kong based private investment company that currently owns 53.76% of the issued and outstanding common shares of the Company.

The Transaction will not materially affect control of the Company. Other key terms of the Exchangeable Debenture include:

1.    Maturity date is set for the later of (a) the date of repayment in full of the principal amount together with all accrued and unpaid Interest; and (b) the date on which the Exchangeable Amount has been exchanged by Vantage pursuant to the Exchangeable Debenture, provided that in no event shall the maturity date occur prior to the date that Appian Capital Advisory LLP is repaid under the April 2022 term loan facility agreement (as amended) between Appian and Western Potash (the “Appian Repayment Date”).

2.    Interest rate is set at 12.5% per annum. Interest payable is calculated quarterly on an accrual basis, but no actual payment is made until the Appian Repayment Date, provided that Western Potash may make one or more cash payments to Vantage as Western Potash’s financial condition permits.

The Exchangeable Debenture certificate and other material documents relating to the Transaction described in this news release will be filed and available under the Company’s profile on SEDAR at www.sedarplus.ca.

At present, the Project is transitioning from the construction phase to the commissioning phase, after which it is expected to proceed to the start-up phase. Construction handover is expected to be completed this month, and the plant is expected to be ready for production by the end of September.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Xue

Chairman and CEO

Cautions Regarding Forward-Looking Statements Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws. For more information on the contents of this release please contact Jack Xue, Corporate Secretary, at 306-924-9378.

Vancouver BC – Western Resources Corp. (TSX: WRX) (“Western” or “the Company”) is pleased to announce that its shareholders approved all items put before them at the Company’s Annual General Shareholder Meeting (“AGM”) held today, March 10, 2023. The approved items are:

1. Fixed the number of directors of the Company at 7;
2. The election of Bill Xue, George Gao, Mark Fracchia, Justin Xing, Guy Bentinck, Andrew Hancharyk and Scott Nagel to the Board. A total of 328,893,991 common shares, representing 80.51% of the outstanding common shares of the Company as at the record date, were present in person or by proxy at the meeting. The approximate number of those votes “For” each director, the approximate "Percentage" of the total votes cast and the "Withheld/Abstain" votes for each director are shown as below:
   
   3. The re-appointment of MNP LLP as auditors of the Company at a remuneration to be fixed by the directors, with 290,705,797 shares voted “For”, representing 99.95% of the outstanding common shares of the Company and 138,392 shares voted “Withheld”.

Western Potash Corp. is pleased to announce today that its wholly-owned subsidiary, Western Potash Corp. (“Western”), closed the second tranche, in the amount of US$31 million (C$41.6 million equivalent)  of its Cdn$85 million loan transaction with Appian Capital Advisory LLP (“Appian”), the terms of which were previously announced in the press release dated April 28, 2022.

The second tranche of funds from the loan transaction will be used by Western to finish the construction of the Milestone Phase 1 Project (the “Project”) and continue the development of the Project’s optimized mining plan. The construction of the processing plant for the Project is expected to be completed in early May, 2023, with plant production expected to be initiated in December 2023.   

Mr. Bill Xue, Western Potash Corp. CEO, commented, “We are pleased to have closed this final tranche of the loan with Appian. This will increase the financial stability sought by our contractors and suppliers which we expect will be beneficial for completing the Project in a timely and efficient manner.”

Bill Xue
Managing Director

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jack Xue, Corporate Secretary, at 306-924-9378.

Vancouver BC – Western Resources Corp. (the “Company”) (TSX: WRX) is pleased to announce that it has accepted the Conversion Notice (as defined in the Subscription Agreement dated February 16, 2022, which was amended and restated on May 20, 2022 and further amended and restated on July 29, 2022) issued by Vantage Chance Limited ("Vantage"). Pursuant to the Subscription Agreement, Vantage completed its $80 million investment (the “Investment”) in Western Potash Holdings Corp. ("WPHC"), a subsidiary of the Company, whereby it acquired an aggregate of 157,325,071 common shares in WPHC ( “WPHC Shares”), representing approximately 54% of the outstanding shares of WPHC. WPHC currently 100% owns Western Potash Corp. (“Western”) and its Milestone Potash Project (the “Project”) located in the southeast of Regina, Saskatchewan.

Upon completion of the Investment on September 8, 2022, the Subscription Agreement granted each of Vantage and the Company the right to exercise an option (the “Conversion Option”), subject to acceptance by the Company (where the Option is exercised by Vantage) or by Vantage (where the Option is exercised by the Company), as applicable, and the fulfillment of certain other conditions (including approval by the Toronto Stock Exchange and approval by the shareholders of WRX), to exchange all of the WPHC Shares held by Vantage into WRX Shares. The Option is exercisable by WRX or Vantage within 180 days of the closing of the Investment.

Vantage is at arm's length with the Company. Vantage owned no WRX Shares prior to the conversion and upon exercise of the Conversion Option and the satisfaction of conditions for completing the Option exercise, Vantage will obtain ownership and control over 219,726,258 WRX Shares, representing 116.4% of the total issued and outstanding WRX Shares on a pre-transaction, non-diluted basis. The issue price is approximately $0.3641 per WRX Share, a 55.93% premium to the market price as of September 8, 2022, which was $0.2335.

The exercise of Conversion Option will make Vantage a new control person and materially affect control of the Company. WRX Shares owned by Vantage will represent 53.79% of the issued and outstanding WRX Shares calculated on a post-transaction, non-diluted basis.  Tairui Mining Inc. ("Tairui"), which owns105,854,938 WRX Shares, representing approximately 56.08% of the issued and outstanding WRX Shares pre-conversion, will be diluted to approximately 25.91% post-conversion.

The conversion and issuance of WRX Shares to Vantage requires TSX approval pursuant to Section 602(a) of the TSX Company Manual.

Pursuant to Section 611(c) of the TSX Company Manual, security holder approval will be required in those instances where the number of securities issued or issuable in payment of the purchase price for an acquisition (including securities, in this case, the WPHC Shares) exceeds 25% of the number of securities of the listed issuer which are outstanding, on a non-diluted basis. In addition, pursuant to Section 604(a)(i),TSX will generally require security holder approval as a condition of acceptance of a notice under Section 602 if the transaction materially affects control of the listed issuer.

The Company is relying on an exemption from holding a meeting of shareholders as its majority shareholder Tairui will provide a written consent, pursuant to Section 604(d) of the TSX Company Manual. Tairui is familiar with the terms of the Subscription Agreement and the Conversion Option and is in favour of it.

Western Resources Corp. Chairman and CEO, Mr. Bill Xue said, “First of all, I would like to express my sincere thanks to Vantage for its confidence in the Project and the future of the Company. I think the most important value of the exercise of the Conversion Option is to allow Western Resources Corp. to regain its 100% ownership of Western and the Project from its current 46% shareholding, which, I believe, is what all shareholders are expecting. With the entirety of Vantage’s $80 million equity funding pouring into Western along with the conversion, the Project will have a more solid financial assurance. As this Project has attracted some of the best solution mining experts in the world working on one of the most environmental-friendly potash mines in the world, I have strong confidence that our team will be able to deliver a successful project on time and on budget. The success of the Project serves the best interest of all shareholders of the Company.”

Bill Xue
Managing Director

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Simon Guo, Corporate Secretary, at 306-924-9378.

August 16, 2022, Regina, SK – Western Potash Corp. (“Western” or the “Company”) is pleased to announce that its Milestone Potash Phase 1 Project (the “Project”) team successfully hosted a Community Open House in Kronau, Saskatchewan on August 4, 2022.  This event aimed to update the local community about various aspects of the Project, including the construction plan especially, the optimized mining development plan and Western’s strategic vision for the future.

   

Western Potash Corp. (“Western” or the “Company”) is pleased to announce it hosted a delegation of thirteen officials from three different Ministries of the Saskatchewan government for a mine tour today at the Milestone Project (the “Project”) site. After closing financing deals with Appian Capital and Vantage Chance in May, the Project kicked off with key contractors in mid-June, with mobilizations now occurring at the site.

Officials from the Ministry of Trade and Export Development, Ministry of Energy and Resources, as well as the Ministry of Environment attended the event. Mark Fracchia, Western’s Chairman of the Executive Committee, presided over the project briefing session. President and CEO Bill Xue and Operations Director Brandon Bartosh presented on the company’s history, the innovative mining technology, the current status of the Project and the construction plan, and future development options. The presentation was followed by a mine tour. The intent of this meeting and tour was to provide officials with a much better understanding of the Project and of the future direction of Western Potash.

                        Western Potash Operations Director Brandon Bartosh is presenting on the Milestone Project technology.

Western Potash’s Chair of Executive Committee Mark Fracchia told the officials at the meeting, “Our team feels very proud of having the opportunity to work on this unique and innovative potash Project. Although the scale of this first phase of development is relatively small, once the mining technology is proven to be successful, it will provide the opportunity to scale up and impact how potash could be mined in the future. We look forward to working closely with all stakeholders to make this project an example of an efficient, sustainable and environmentally friendly mine”.

                           Western Potash Operations Manager Francis Mukanya is conducting a mine tour for the SK government delegation.

(This News is for updates only and not distributed through Global Newswire as Press Release) 

Western Potash Corp. (“Western” or the “Company”) (TSX: WRX) is pleased to announce that Western Potash Holding Corp. (“WPHC”) has received the first tranche of its equity funding proceeds from Vantage Chance Limited (“Vantage”) in the amount of $33 million, as part of the previously announced Investment Transaction, in exchange for the issuance to Vantage of 64,896,592 common shares of WPHC.  Aggregate proceeds from the Investment Transaction, together with the first tranche of funding received last week from Appian Capital Advisory, will be used to continue and complete the remaining construction and development of the Milestone Phase I Project (the “Project”), and for general and administrative expenses of the Project.

Pursuant to an Amended and Restated Subscription Agreement dated May 20, 2022, Vantage will purchase from WPHC and WPHC will issue to Vantage an additional 92,428,479 common shares for an aggregate purchase price of C$47,000,000 (the “Subsequent Subscription”) on or before July 31, 2022. Upon closing of the Subsequent Subscription, Vantage will be the registered and beneficial owner of an aggregate amount of 157,325,071 common shares of WPHC, representing 54% of total issued and outstanding common shares in WPHC for total proceeds of $80,000,000.00, while Western will hold the remaining 46% of the issued and outstanding WPHC common shares. Western Potash Corp. becomes a wholly owned subsidiary of WPHC.

Upon receipt of the first tranche of equity funding from Vantage, WPHC held its first shareholders' and board meetings. At the meeting, WPHC shareholders appointed WPHC board members, which then approved the establishment of each of the WPC Executive Committee and Technical Committee, appointed management, and deliberated and approved capital and operational expenditures for the Project.

Bill Xue, Western’s Chairman and CEO stated, “We are pleased that the first tranche of the Vantage equity transaction has been completed as planned. This will greatly increase the probability of successful Project completion. Western Potash Corp. will start mobilizing and building a strong and solid team in the coming weeks. I expect that our team will be able to deliver the Project on schedule”.

About Western Resources Corp.

Western Resources Corp. and the Company’s wholly owned subsidiary Western Potash Corp. are constructing one of Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mines. It is expected to be the first potash mine internationally to leave no salt tailings at the surface, thereby reducing the water consumption by approximately half as well as significantly improving energy efficiency. Successful completion of the Project will form the basis for further expansion.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Xue
President and CEO

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Simon Guo, Corporate Secretary, at 306-924-9378.

Western Potash Corp.("Western") is pleased to announce that it has entered into a cost- reimbursable construction services agreement (the “Agreement”) with Stuart Olson Prairie Construction Inc., a wholly owned subsidiary of Bird Construction Inc. (TSX: BDT) (“Bird”), as general contractor to continue the bulk of the remaining construction work for the Milestone Phase I Project (the “Project”) of Western Resources Corp.(the "Company"). Project construction was put on hold in May 2020 when the process plant was approximately 50% complete.

The Agreement resolves all prior outstanding issues between Western and Bird and establishes a new time & material (“T&M”) based contract governing completion of the remaining Project work. The scope of work will be focussed on process plant section completion, including certain steel and pipework, completion of major equipment installation, electrical and control system completion, building and site work. Bird will begin mobilization in early June, with an anticipated maximum workforce of around 100 people expected at the site. Construction is expected to be completed by Q2, 2023, and followed by a three-month general commissioning, with production to start up in Q3 of 2023.

Pursuant to the Agreement and in exchange for the cancellation of amounts owing to Bird, Western has  made a cash payment of $14 million to Bird and will cause the Company to issue 10,000,000 warrants ("Warrants") to Bird as part of the settlement for debt previously owed to Bird, which will allow Bird, after exercise, to acquire up to 10,000,000 common shares of the Company, which as of the date of this release represents 5.34% of the Company's issued and outstanding common shares, and will represent up to 5.07% of the Company’s issued and outstanding common shares on a post-transaction basis. Subject to the TSX review and approval, the main terms of the Warrants are as follows:

• The Warrants can be exercised by cash payment or without cash consideration (cashless exercise pursuant to the formula set out in the TSX Company Manual).
• The exercise price of the warrants is $0.2721, representing a 25% discount to the 5-day VWAP on May 12, 2022, the execution date of the Agreement.
• The term of the Warrants are 4 years from the date of the issuance of the Warrant certificate.
• If the Company’s share price reaches at least C$0.50/share above exercise price for 5 consecutive trading days (to be adjusted for customary anti-dilution provisions), Bird will be required to exercise (via cash payment or cashless exercise) within 5 business days.
• The form of Warrant certificate contains customary anti-dilution provisions.

Because the exercise price of the Warrants is less than the market price of the common shares at the date of the Agreement, issuance of the Warrants requires shareholders' approval pursuant to Section 607(i) of the TSX Company Manual.

The Company is relying on an exemption from the requirement to hold a meeting of its shareholders to approve the issuance of the Warrants as its majority shareholder Tairui Mining Inc. ("Tairui"), which holds 56.55% of the total issued and outstanding common shares of the Company as of the date hereof and has knowledge of and is familiar with the terms of the Agreement, will provide a written consent, pursuant to Section 604(d) of the TSX Company Manual.

Western is also pleased to announce that Mr. Alex Watson and Mr. Randy Lange have both joined Western and will lead its construction management team as, respectively, Project Sponsor and site Construction Manager. Western is confident that each individual’s intensive project management experience tremendously increases the likelihood that remaining construction work will be completed within budget and on schedule.

Mr. Bill Xue, Chairman and CEO of the Company, commented, “we are very grateful to BIRD for the kind understanding and strong support it has provided to Western over the past two years when the Project was in suspension. Our management and financial partners are excited that Bird will soon restart Project construction to build one of the most innovative and efficient new potash mines in Saskatchewan, which will greatly benefit local Saskatchewan communities, and the Province of Saskatchewan in general”.

About Western Resources Corp.

Western Resources Corp. and the Company’s wholly owned subsidiary Western Potash Corp. are constructing one of Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mines. It is expected to be the first potash mine internationally to leave no salt tailings at the surface, thereby reducing the water consumption by approximately half as well as significantly improving energy efficiency. Successful completion of the Project will form the basis for further expansion.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Xue
Chairman and CEO

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Simon Guo, Corporate Secretary, at 306-924-9378.

Western Potash Corp ("Western"). is pleased to announce today, it has entered into a C$85,000,000 term loan facility financing transaction (the "Loan Transaction") with Appian Capital Advisory LLP (“Appian”). The Loan Transaction has been negotiated at arm's length and will not materially affect control of the Company. Proceeds of the Loan Transaction will enable Western to continue and complete the remaining construction and development of the Milestone Phase I Project (the “Project”), pay out existing creditors and for general and administrative expenses of the Project.

The Loan Transaction includes:

1. a six-year term loan facility of up to USD equivalent of C$85,000,000, at an interest rate of 12.5% per annum.
2. the grant of a 1.5% royalty based on the gross revenue of the Project to Appian; and

the issuance to Appian by the Company of 20,774,030 warrants ("Warrants") as part of the consideration for the Facility, which will allow Appian, after exercise, to acquire up to 20,774,030 common shares of Company, which currently represents 11.1% of the Company's issued and outstanding common shares, and will represent up to 9.9% of the Company’s issued and outstanding common shares on a post-transaction basis. The main terms of the Warrants are as follows:

The Warrants can be exercised by cash or without cash consideration (cashless exercise pursuant to the formula set out in the TSX Company Manual).

The exercise price of the warrants is $0.2834, representing a 25% discount to the 5-day VWAP on April 28, 2022, the execution date of the Facility Agreement.

The term of the Warrants are 6 years from the closing of the Loan Transaction.

If the Company share price reaches at least C$0.50/share above exercise price for 5 consecutive trading days (to be adjusted for customary anti-dilution provisions), Appian will be required to exercise (via cash or cashless exercise) within 5 business days, subject to Appian being legally permitted to exercise.

The form of Warrants certificate contains customary anti-dilution provisions.

The exercise price of the Warrants is less than the market price of the common shares at the date of the Facility Agreement and as such requires shareholders' approval pursuant to Section 607(i) of the TSX Company Manual.

The Company is relying on an exemption from holding a meeting of shareholders as its majority shareholder Tairui Mining Inc. ("Tairui"), which holds 56.55% of the total issued and outstanding common shares of the Company as of the date hereof, will provide a written consent, pursuant to Section 604(d) of the TSX Company Manual. Tairui is familiar with the terms of the Transaction and is in favour of it.

The Facility Agreement and other material documents of the Loan Transaction will be filed and available under the Company’s profile on SEDAR at www.sedar.com.

The Company is also pleased to announce that further to its previously announced equity investment of C$80,000,000 (the “Equity Transaction”) by Vantage Chance Limited (“Vantage”) in Western Potash Holdings Corp. (“WPHC”), a wholly owned subsidiary of the Company, Vantage has confirmed its receipt from Industry Canada that no national security notice has been sent and no notice will be forthcoming under Investment Canada Act. The Company expects the Equity Transaction will close in May 2022.

Western Resources Corp. Chairman and CEO, Mr. Bill Xue said, “I am proud of the breakthrough that the Western team has made in signing the Loan Transaction with Appian. This funding, together with the C$80 million equity investment, will provide a huge capital injection for Western and a solid foundation for the completion of the Project. I am grateful to the dedicated team members for their hard work and look forward to witnessing the revolutionary changes the Project will bring to potash mining in the Province of Saskatchewan.”

Michael W. Scherb, Appian Founder and CEO, commented: “I am delighted to be supporting Western Resources in the development of the Project. This transaction demonstrates the continued success of Appian’s dedicated credit and royalties offering, highlighting our ability to invest through the capital structure and provide non-dilutive financing for mining companies. The value that our market-leading technical team brings is also a key differentiator, with our expertise helping project owners to maximize potential and returns.”

About Appian Capital Advisory LLP

Appian is a London-based leading investment advisor to long-term value-focused private equity funds that invest solely in mining and mining-related companies, with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies to achieve their development targets. Appian has a global operating portfolio and a team of 54 experienced professionals with presences in London, Toronto, Vancouver, Lima, Belo Horizonte, Montreal and Sydney overseeing nearly 5,000 employees in the projects and the companies it invested. 

About Western Resources Corp.

Western Resources Corp. and the Company’s wholly owned subsidiary Western Potash Corp. are constructing one of Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mines. It  is expected to be the first potash mine internationally to leave no salt tailings at the surface, thereby reducing the water consumption by approximately half as well as significantly improving energy efficiency. Successful completion of the Project will form the basis for further expansion.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Xue
Chairman and CEO

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Simon Guo, Corporate Secretary, at 306-924-9378

Western Potash Corp. is pleased to announce that its parent company Western Resource Corp. (“Western”)  has signed a subscription agreement (the “Subscription Agreement”) today with Vantage Chance Limited (“Vantage”), in which Vantage has committed to make a strategic equity investment of C$80,000,000 (the “Investment Transaction”) in Western Potash Holdings Corp. (“WPHC”), a newly formed company which, upon completion of a reorganization (described below), will own 100% of Western Potash Corp. (“WPC”) and its Milestone Potash Project. Vantage is a private investment company registered in the British Virgin Islands.

WPHC was incorporated under British Columbia’s Business Corporations Act on January 13, 2022 by Western for the purpose of structuring the transaction. Upon approval by Western’s shareholders, and prior to the completion of the transactions contemplated in the Subscription Agreement, Western will transfer its 100% equity interest in WPC (134,017,653 common shares) to WPHC in exchange for an equivalent number of WPHC common shares, which will represent 100% of the issued and outstanding shares of WPHC (the “Reorganization”).

Under the Subscription Agreement, Vantage will invest C$80,000,000 in WPHC and receive in exchange an aggregate of 157,325,071 WPHC common shares. As a result, Vantage will hold 54% of the issued and outstanding common shares of WPHC.  Western will hold the remaining 46% of the issued and outstanding WPHC common shares.

Completion of the investment transactions is subject to customary closing conditions, including approval by Western’s shareholders at Western’s upcoming Annual and Special Shareholders Meeting scheduled for March 28, 2022 and obtaining certain regulatory approvals.  Closing is expected to occur on or around May 31, 2022. The Investment proceeds raised from the Investment Transaction will be used in the completion of the Milestone Potash Project construction. Full details of the Investment Transaction and the Reorganization will be included in a management information circular of Western that is expected to be mailed to Western shareholders on or around February 22, 2022 (the "Circular"). The Subscription Agreement and the Circular will be made available on SEDAR under the issuer profile of Western at www.sedar.com.

Bill Xue, Western’s President and Chief Executive Officer stated, “The last two years have been very challenging for Western, as we attempted to complete Phase I of our Milestone Potash Project, with limited access to capital due to a variety of factors, including COVID-19. We expect that the investment by Vantage will allow us to complete the project and allow it to recognize its full potential, including use of the innovative technology we have developed alongside. When successfully completed, we expect the project will significantly change potash mining in Canada as the project is planned to be the first potash mine in the world to leave no salt tailings at surface level, reduce water consumption by up to 50% and significantly improve energy efficiency. We look forward to working closely with our new partner as we continue to develop and expand Milestone”.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Xue
President and CEO

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jerry Zhang, Corporate Secretary, at 306-924-9378.

Western Potash Corp.(WPC) is pleased to announce that WPC has has received key findings from its upcoming NI 43-101 report (“Report”) for its Milestone Phase I Project (“The Phase I Project”) in southern Saskatchewan. The Report is based on the expansion of the mine life from 12 years to 40 years and the update of the mining plan.

The technical Report is being prepared by March Consulting Associates Inc. (“March”). March is an engineering and project management provider with extensive experience in delivering mining projects across Saskatchewan.

The Phase I Project is the first stage of Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mines. Currently, the total Phase I Project is approximately 78% complete (including engineering, procurement, infrastructure and construction) and awaiting final financing to finish. The initial startup and commissioning of the solution mining is complete and was operated for approximately 18 months, accumulating potash in the crystallization pond.

Data and other information obtained from these operations in conjunction with several leading solution mining experts has enabled Western to optimise the Phase I Project solution mining plan to enhance the reliability to meet the target production of 146,000 tonnes per annum (tpa) of granular potash. The mining plan will extract both the Belle Plaine and Patience Lake members from a series of horizontal caverns which have been planned within the unitized area.

The reserves within the expanded unitization area are:

• A proven reserve of 11.7 million tonnes (Mt) at an average grade of 32.4% KCl;
• A probable reserve of 19.5 Mt at a grade of 33.5% KCl.

Cavern losses (10%) and processing recoveries of 95% have been applied to the reserves. The proven and probable reserves within the unitized area are sufficient for a mine life of over 200 years at the target production rate. The project economics are based on an operation period of 40 years at target production. Excess reserves would be available to extend mine life or increase production in the future.

The resource estimate (effective the date of this release) within Saskatchewan Subsurface Mineral Lease KLSA 008 is as follows:

• A Measured Resource of 418.5 million tonnes (Mt) at a grade of 20.8% K2O
• An Indicated Resource of 2,304.2 Mt, grading 21.0% K2O
• An Inferred Resource of 2,575.2 Mt, grading 21.4% K2O

The Resource numbers were adjusted with deductions for unseen anomalies (5% Measured, 9% Indicated and 25% Inferred). A cut-off grade of 15% K2O was applied. No thickness or carnallite grade cut-offs were applied. Extraction ratio’s and/or cavern losses were not applied to the resource tonnages. Reserves are included in the Resource numbers.

The actual CAPEX allocated to the Phase I Project to date is $116.24M and a further $33.21M is needed to complete the Project and bring the plant into production, resulting in a total Phase I Project CAPEX of $149.45M (including a 12.5% contingency on the remaining CAPEX). This estimate adopts the AACE (Association for the Advancement of Cost Engineering) International Class 3 standard.

The total annual OPEX for the Phase I Project, based on operational data from the pilot phase, is estimated at $CAD13.25M per year (excluding G&A, logistics and royalties) or $CAD90.60/t MOP for 146,000 tpa. Sustaining CAPEX consists mainly of expanding the mine field (drilling, piping and infrastructure) and planned equipment maintenance. Sustaining CAPEX includes approximately $36M every six years to expand the wellfield for ongoing production.

Assuming a nominal discount rate of 8%, the economic analysis yields an after-tax project Net Present Value (NPV) of $CAD225.8M, with an Internal Rate of Return (IRR) of 20.4%, based on the assumption of 100% equity investment and potash price of $US524/t ($CAD665/t) FOB mine gate. This price is obtained from the Argus report from November 2021 for granular MOP to the USA Corn Belt and forecasted freight costs from the mine. Costs are given in Canadian dollars ($CAD) and prices are given in United States dollars ($US), with an assumed exchange rate of $US 1 = $CAD 1.27. Inflation has not been applied to the potash price or future costs with the noted potash price assumed to apply from 2025 to the end of project life.

March has undertaken a review of the project and determined mine life could be increased from 12 to 40 years with the implementation of an asset maintenance and replacement strategy. The full costs of this plan have been included in the OPEX and sustaining CAPEX results above.

The management continues to have confidence in the success of the Phase I Project, and has a plan to engage March to complete studies for the purpose of increasing the total capacity of the site to around 300,000 tonnes per annum. This would aim to duplicate the existing surface facilities on the adjacent quarter section to maximize the use of existing infrastructure and utilities already on site.

This news release was reviewed by Kyle Krushelniski, P.Eng. of March Consulting Associates Inc., who is a Qualified Person under NI 43-101 and is the lead author of the updated NI 43 101 Technical Report on which this news release is based.

About Western Resources Corp.

Western Resources Corp. (TSX: WRX) (“Western” or “the Company”) and the company’s wholly-owned subsidiary Western Potash Corp. are constructing Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mine. This will be the first potash mine in the world that will leave no salt tailings at the surface, thereby reducing the water consumption by half as well as significantly improved energy efficiency.

About March Consulting Associates Inc.

March Consulting Associates Inc. (March) is a Saskatchewan based employee and First Nations’ owned organization, operating in Saskatchewan for over 22 years with offices in Saskatoon, and Regina. March provides engineering, procurement, project, and construction management to a variety of resource‐based industrial and commercial enterprises. March utilizes the latest digital, analytical, and intelligent 3D modelling capabilities in the mining, process, mechanical, electrical, instrumentation and controls, civil, structural, and Finite Element Analysis (FEA) disciplines.

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jerry Zhang, Corporate Secretary, at 604-689-9378.

Vancouver BC – Western Resources Corp. (TSX: WRX) (“Western” or “the Company”) is pleased to announce that its shareholders approved all items put before them at the Company’s Annual General Meeting (“AGM”) held in its Vancouver office and virtually on March 12, 2021. At the meeting, Western’s shareholders:

1. Set the number of directors of the Company at six (6);
2. Elected Wenye (Bill) Xue, Weimin Wang, Guy Bentinck, Xiang (George) Gao, Andrew Hancharyk and Yujia Ren to the Board of Directors. The approximate number of those votes “For” each director, the approximate "Percentage" of the total votes cast and the "Withheld/Abstain" votes for each director are shown below: 

           

The elected Board members thereafter approved key Board and Management appointments, including re-appointment of Mr. Bill Xue as Chairman of the Board and Chair of the Executive Committee; Mr. George Gao as Chair of the Corporate Disclosure Policy Committee, Senior Vice President, Corporate Finance and Chief Financial Officer; Mr. Guy Bentinck’s re-appointment as Chair of the Audit Committee and Mr. Weimin Wang as Chair of the Compensation Committee. Mr. Arthur Ma from China BlueChemical Ltd and Mr. Hailin Yu from Guoxin International Investment Corp. Ltd. are re-appointed as Board Observers. The Board wishes to express its thanks to Mr. Fritz Venter and Mr. Alnesh Mohan, both of whom have contributed to the development of the Project and the Company.

Western’s Chairman Bill Xue said, “We want to thank all the contractors and suppliers for their continued support and understanding during this unique and challenging period to bring the Milestone Project to fruition. Our special thanks goes to Archer Daniels Midland Company (“ADM”) for the 18 month extension to the binding offtake agreement Commencement Date of product delivery starting no later than November 30, 2022. Our primary focus continues to be raising the financing required to complete the remaining 15% of the Project. We are pleased with the continued progress during the past ten months, where the Project team overcame many challenges to successfully achieve its staged goals in mining performance. The mining parameters, cavern volumes and dissolution efficiency are trending toward the operational targets which is key to securing financing. As the ongoing pandemic and overall market environment continues to affect financing, shareholders are reminded that there can be no certainty the Company will predict a confirmed timeline for financing, although the Company has mobilized all resources to that end.”

For more information on Western Resources Corp. or the Milestone Potash Project, please refer to its SEDAR profile at www.sedar.com or contact Tel: 604-689-9378, email: info@westernresources.com, website: www.westernresources.com and www.westernpotash.com.

About Western Resources Corp.

Western Resources Corp. (TSX: WRX) and the company’s wholly-owned subsidiary Western Potash Corp. are constructing Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mine. This will be the first potash mine in the world that will leave no salt tailings at the surface, thereby reducing the water consumption by half as well as significantly improved energy efficiency. The Phase I Project is about 85% complete and its construction is currently on hold due to financing. Once completed, it will form the basis for further expansion.

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

Regina SK – Western Potash Corp. (“Western” or “the Company”) is pleased to announce that the Company safely and successfully started its Hot Mining operations Tuesday, April 28, 2020 at its Milestone Phase I Plant, southeast of Regina, Saskatchewan.

Hot Mining recirculates heated saturated brine from the crystallization pond into the caverns, and preferentially extracts the dissolved potash (KCl) in the cavern which returns to the crystallization pond, while leaving the salt (NaCl) in place underground. Hot mining demonstrates the enhanced horizontal solution mining process while building an inventory of potash in the crystallization pond. By design, each cavern will be producing about 4,000 tonnes of KCl per month into the crystal pond. The horizontal selective solution mining is environmentally friendly and capital efficient, while also greatly shortening the time to production compared to traditional mining. This will be the first greenfield potash mine in Canada that will leave no salt tailings on the surface, thereby significantly reducing water and energy consumption.

The process plant is expected to be completed and ready to harvest the inventory of potash in the pond by the end of 2020. Once finished the plant will de-brine, dry and compact the potash and truck to the local Port Lajord fertilizer distribution center where Archer Daniels Midland (ADM) has signed a binding off-take agreement with Western to sell the 100% of the offtake.

Appropriate operating permits were obtained as part of the on-going permitting process, and the Company continues to work in close conjunction with the RM of Lajord, Provincial government, the local community and businesses.

Mr. Fritz Venter, President and CEO of Western Potash Corp., commented: “The start of Hot Mining is a significant milestone for the Project construction, it demonstrates the viability of the new technology, and will bring about significant economic values to investors and shareholders. This technology will disrupt the Solution Mining Potash industry.

I would like to thank everyone involved in the successful construction and startup of Hot Mining, including the Western team, a number of sub-contractors, vendors and local businesses and government who continued to give their best despite having to deal with the evolving pandemic and the challenges it presented.”

For more information on the Company, please refer to: www.westernresources.com, Tel: 604-689-9378.

https://youtu.be/T29FAcArR7E

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

Regina, SK – Western Potash Corp. is pleased to announce that it has received an updated NI 43-101 compliant Mineral Resource Estimate for its Milestone Phase I Project (“Phase I Project”) in southern Saskatchewan.

The National Instrument (NI) 43-101 Standards of Disclosure for Mineral Projects Technical Report was prepared by Agapito Associates, Inc. (“AAI”) and SNC-Lavalin (“SNCL”) with an effective date September 24, 2019. The report presents the results of the engineering design studies prepared by SNCL and AAI for a pilot-plant scale, selective solution mining operation located in Sections 19, 20, 29 and 30, Township 14, Range 17 West of the Second Meridian within Saskatchewan Subsurface Mineral Lease KLSA 008. The Phase I Project has been advanced through the Feasibility Stage to Engineering Design and then to cavern construction which was completed by October 23 and followed by injection of water at ambient temperature from the crystal pond into the underground caverns for circulation and mineral dissolution (“Cold Mining”).

The technical report summarizes information obtained from exploration drilling conducted between January 2009 and March 2011, and details the results from the latest production drilling in July 2019. During the 2009–2011 exploration program, 11 cored exploration wells were completed on the KP408 and KP409 Subsurface Mineral Permits that were converted to Subsurface Mineral Lease KLSA 008 in 2010. Also in 2009, 474.5 line km of two-dimensional (2D) and 98 square kilometers (km2) of three-dimensional (3D) seismic surveys were run, processed, and interpreted for WPC by Boyd PetroSearch (now part of the RPS Group) of Calgary, Alberta. In 2019, the production well drilling program cored 1 of the 6 wells drilled for the Phase I Project to provide additional geologic information in that part of the Lease. Measured, Indicated, and Inferred Mineral Resources have been classified based on the volume of potash in cylinders centered on the cored and assayed drillholes on the Lease. Based on the economics for the Phase-I Project, Proven and Probable Mineral Reserves have been declared for the production portion of the Phase I Project, which consists of horizontal caverns sited in either the Belle Plaine or Esterhazy Members of the Prairie Evaporite.

The Phase-I Project is based on Mineral Resources in the Belle Plaine and Esterhazy Members in the Unitized Area. Because in future, mining could also occur in the Patience Lake Member, tonnages in that member have also been included in the mineral resources for the Unitized Area, which consists of:

• A Measured Resource of 154.5 million tonnes (Mt), grading 29% KCl
• An Indicated Resource of 222.5 Mt, grading 29% KCl
• An Inferred Resource of 93.6 Mt, grading 29% KCl

The Measured and Indicated Resources outside the Unitized Area were estimated to be mineral resources as follows (using a cutoff grade of 15.0% K2O or 23.7% KCl):

• Measured Mineral Resource: 580-Mt in-place sylvinite, grading 30.0% KCl, or 19.0% K2O
• Indicated Mineral Resource: 1,630-Mt in-place sylvinite, grading 30.0% KCl, or 19.0% K2O

Inferred Resources on the KLSA 008 Lease are estimated to be (using a cutoff grade of 15.0% K2O or 23.8% KCl) 10,040-Mt in-place sylvinite, grading 29.0% KCl, or 18.3% K2O.

The total CAPEX for the Phase I Project using a crystallization pond was estimated (in Canadian dollars) to be $CAD128.7 million (M) with an accuracy of ±10%, which corresponds to AACE International (Association for the Advancement of Cost Engineering) Class 3. The total annual OPEX for the Phase-I Project was estimated at $CAD11.7M per year (excluding logistics and royalties) or $CAD80/t MOP for 146,000 tpy. Sustaining CAPEX consists mainly of drilling of new caverns and reclamation of mined-out caverns at $CAD17.5M in 2025, $CAD10.1M in 2030, and $CAD7.5M in 2032.  Assuming a nominal discount rate of 8%, the economic analysis yielded an after-tax project Net Present Value (NPV) of $CAD55.2M, with an Internal Rate of Return (IRR) of 17.2%, based on the assumption of full-equity investment and potash price of $US241/t ($CAD321/t). Costs are given in Canadian dollars ($CAD) and prices are given in United States dollars ($US), with an assumed exchange rate of $US 1 = $CAD 1.33.

This news release was reviewed by Douglas Hambley, MBA, PhD, P.Eng. of Agapito Associates Inc., who is a Qualified Person under NI 43-101 and is the lead author of the updated NI 43‑101 Technical Report on which this news release is based.

The in-house Qualified Person for the purposes of this press release is G. Vogelsang P.Eng., P.Geo., FEC, FGC, who has reviewed and approved the contents of this news release.

About Western Potash Corp.

Western Potash Corp.is constructing Canada’s newest and most innovative, environmentally friendly and capital-efficient potash mine. This will be the first potash mine in the world that will leave no salt tailings at the surface, thereby reducing the water consumption by half as well as significantly improved energy efficiency. The Phase I Project will be in production by Quarter 3 2020, and will form the basis for further expansion.

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jerry Zhang, Corporate Secretary, at 604-689-9378.

Vancouver BC – Western Resources Corp. (TSX: WRX) (FSE: WR0) (“Western” or “the Company”) is very pleased to announce that Western Potash Corp, the company’s  wholly-owned subsidiary, has entered into a binding offtake agreement with Archer Daniels Midland Company (NSYE: ADM) (“ADM”) for 100% of the potash production (146,000 tonnes per annum) from the Milestone Phase I plant.

ADM is a world leader in agricultural sourcing, processing and transportation, and has built a vertically integrated global franchise with the sourcing, production and transportation capabilities to meet the needs of customers on six continents. ADM will be utilizing both their transportation and sales expertise to create a direct sale channel to market in North America. The purchase of potash through a local off-take agreement substantially reduces the Company’s cost to transport potash from the Phase I project to market, as well as expanding ADM’s diverse agricultural portfolio.

Key terms of the offtake agreement include:

• Binding commitment to take 100% of the produced potash from the Phase I project;
• Free-on-board (FOB) mine site and transported from the site by truck to the nearby Port Lajord Terminal, only 13 kilometers from the project site;
• A structure to incentivize the best final sale price for both parties

In addition, the Company is pleased to provide the following updates of the Milestone Phase 1 Project:

Drilling Program:
The team has successfully completed drilling of three vertical production wells which intersected high grade potash in all wells, according to the downhole logs. The project has also drilled and connected first injection wells, having achieved on target intersection of the potash bed. This is the first intentionally connected potash well drilled in Saskatchewan, and is a major achievement in the development of the horizontal selective solution mining technique.

Construction:
Construction continues to advance in line with the project schedule. Extensive progress has been achieved including construction of building foundations, arrival of equipment and materials, and planning for building construction before the end of the year. The project goal remains to complete Phase I construction in mid 2020 with potash production to commence later next year.

Operations:
Operation of the Western Potash water well commenced on August 30th and began filling the crystallization pond. This water well utilizes brackish ground water from approximately 850m below the surface, which is not suitable for either potable or agricultural use. The pond will be gradually filled over the next three months. The cold mining to saturate the crystallization pond with salt will commence by October 2019, followed by hot mining of potash in early 2020.

Mr. Fritz Venter, President and CEO of Western Potash Corp., commented:

“We are very pleased with the progress achieved on the Milestone Project to-date.  The offtake agreement for the purchase of our Phase I Project potash with a reputable partner such as ADM gives us great confidence in the final sale of our potash. The recent successful construction, drilling and start of operations to fill the crystal pond proves the project is on track to start production by late 2020. We look forward to the continued safe, on-budget and schedule completion of the project.”

ON BEHALF OF THE BOARD OF DIRECTORS

“James Moore”

Hon. James Moore

Chairman

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jerry Zhang, Corporate Secretary, at 604-689-9378.

Vancouver BC – Western Potash Corp.  (“Western” or “the Company”) is pleased to announce that it has commenced its drilling program with Artisan Consulting and AKITA Drilling on July 14, 2019 at the Company’s Milestone Phase I Potash Project (“Phase I Project” or “Project”) located 35 km southeast of Regina, Saskatchewan. 

The Milestone Phase 1 Project will be the newest and most innovative, environmentally friendly and capital efficient new potash mine in Canada. By utilizing advanced horizontal drilling techniques, the Project will be able to initially target the high-grade potash bed, then by using selective dissolution, preferentially leach the potash to the surface. This will be the first potash mine in the world that will leave no salt tailings on the surface, thereby significantly reducing water consumption.

The drilling program will last approximately 4 months and will consist of 6 wells that connect to 3 caverns.  Each cavern consists of an injection well under the potash bed, and connected withdrawal well which returns the brine back to the surface.  After successful drilling and with appropriate regulatory approvals, the caverns will firstly start ‘cold mining’ to enlarge the caverns and saturate the brine with salt in preparation for production, followed by ‘hot mining’ that will recirculate brine into the caverns and preferentially extract the KCl resulting in the buildup of an inventory of potash in the crystal pond. By mid-2020 the process plant will be constructed and ready to harvest the inventory of potash in the pond. The plant will then de-brine, dry and compact the potash and truck to a nearby distribution center.

Artisan Consulting Services Ltd. has been involved in numerous oil and gas as well as potash projects in Western Canada, NWT and China. It is known for providing specialized supervision services for the drilling of vertical, directional and horizontal wells within Western Canada.

Akita Drilling (TSX: AKT.A) is one of the largest and most respected drilling service companies in Canada.  AKITA has over 40 drilling rigs in their North American inventory which includes use for drilling operations in Canada and the United States. Their extensive experience as well as a strong industry network proved to be a perfect partner for the Phase I Project and Western Potash Corp.

Mr. Bill Xue, President and CEO of Western Resources commented: “Western Potash Corp. is very pleased to have reached this milestone on the Project. Our strong project team enabled us to reach this milestone in line with our schedule. We are very confident that this project will lead to the world’s first selective solution potash mine that leaves no surface tailings in Saskatchewan.

Bill Xue
President & CEO
Western Resources Corp.

Qualified Persons

The content of this news release has been read and approved by Gregory F. Vogelsang, P.Eng., P. Geo., FGC, FEC Project Manager of the Company.  Mr. Vogelsang is a Qualified Person as defined by NI 43-101.

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jerry Zhang, Corporate Secretary, at 604-689-9378.

On December 21, 2018, Western Potash Corp.’s parent company - Western Resources Corp. announce that it has filed its audited 2018 fiscal year Consolidated Financial Statement, the Management Discussion & Analysis report, and the Annual Information Form (AIF) on Sedar on December 20, 2018. Highlights of the corporate developments over the past fiscal year are closely related to the development of the Company’s Milestone Potash Solution Mining Project located 35 km southeast of Regina, Saskatchewan. These include:

Engineering

As reported in its news release dated June 17, 2018, the Company has engaged SNC-Lavalin Inc. (“SNCL”) to complete the detailed engineering for the Milestone Phase I Selective Solution Mining Project (Phase I Project).  Detailed engineering deliverables are on track to be completed in early 2019, ready for final tendering and construction.

Early Works

In October 2018, the Company commenced construction of ‘Early Works’ facilities at the Phase I project site.  Early Works includes the construction of approximately 8 kilometers of a heavy haul road for access to the site by heavy equipment and trucks hauling potash from the site, as well as site civil works including construction of the wellpad, internal access roads, truck staging area, site runoff pond and construction laydown area. The Early Works activities were completed on December 03, 2018.  The successful completion of the Early Works in 2018 allows plant site construction to commence in early 2019, thus expediting the construction schedule.

Off-Take Agreement

In October 2018, the Company entered into a definitive, binding off-take agreement with a senior North American agriculture industry leader for the purchase of all potash produced from the Milestone Phase I Project.  The Phase I project is expected to produce 146,000 tonnes per year of potash.  The off-take agreement is effective for ten years starting from the commencement date when production has reached a daily rate sufficient to achieve an annual commitment. The execution of the off-take agreement confirmed the production specification to be sold in the North American market and secured the sales of Phase I project production.

SNC-Lavalin Procurement and Construction Management Contract

In November 2018, the Company entered into a Limited Notice To Proceed Agreement (“LNTP”) with SNCL for commencement of certain procurement services and construction execution preparation activities for the construction of the Phase I Plant. Western is in the process of negotiating a form of Procurement and Construction Management Agreement for the Phase I Plant; in order to meet the Company’s schedule requirements, certain procurement and construction preparation services will be promptly commenced prior to completion of such negotiations. The LNTP enables SNCL to proceed with the commencement of procurement services, orders for 6 initial packages for construction of the Pilot Plant, and construction execution preparation activities while negotiating the final Procurement and Construction Management Agreement.

Project Team Expansion

As the Company readies itself for the construction of the Phase I Project, additional personnel have been added to the project team.  In addition, the Company will continue to recruit additional people to fill its long-term project team for the construction and operation of the Phase I Project.

Mr. Bill Xue, President and CEO of Western Resources, commented: “We are very pleased with the progress that we achieved on the Milestone Project in 2018. As the global potash market conditions have been changing for the better, our team was able to deliver on some important initiatives that kept the project in a good position to move forward to the next milestone stage. The development of a water source well for the Phase I Project, completion of an offtake agreement for the purchase of our Phase I Project potash and the recent successful construction of early works positions the project for construction to commence in early 2019. Our main schedules and deliverables with SNC-Lavalin remain on track and we look forward to the exciting work that will take place in 2019 to move the Phase I Project into production”.
 

Bill Xue

Chairman
Western Potash Corp.

Western Potash Corp. (“Western” or “the Company”) is pleased to announce that it has successfully developed a groundwater supply source for the Company’s proposed Milestone Phase I Potash Project (“Phase I Project”) located 35 km southeast of Regina, Saskatchewan. Water pump test results show that the groundwater source can fully support the water requirements for the Phase I Project over the life of the project. Western Potash is a wholly-owned subsidiary of Western Resources Corp. publicly listed in the Toronto Stock Exchange under the symbol WRX.

The Milestone Phase I Project requires approximately 40 cubic meters of water per hour (m3/hour) as determined by Western’s mining engineering consultant AGAPITO Associates Ltd. Western utilized existing geophysical data from the project exploration phase and established a well location 8km southeast of the plant site as the optimal place for the groundwater source. The selection of a groundwater source was based on a detailed examination of all possible water source options, with full consideration of minimizing the impact on the community and environment.

The target aquifers are the Viking Formation and Mannville Formation, located at depths of approximately 680 and 745 meters below surface, respectively. The target aquifers contain non-potable water, not suitable for agriculture and are isolated and far below local domestic or agriculture use aquifers and will therefore not interfere with local water supplies.

Drilling work began in early June, and water well was completed on July 18th with all site facilities decommissioned and removed. According to the Water Supply Well Report completed by the Regina-based WaterMark Consulting Ltd., the established water source is able to fully support the required water usage of the Phase I Project over the life of the project.

The next steps will be to submit to the Saskatchewan Water Security Agency Western’s water usage application, and to start the engineering and design for the water pumping and pipeline facilities from the well to the Phase I project site.

Mr. Bill Xue, Chairman of Western Potash, commented, “the Management and the Project team are very excited with the positive results from the water well program. The success of the groundwater source further clears the hurdle for the Phase I project to move forward to the next step. We will now focus on the next steps of the Phase I project including early site work in preparation for project construction to start in early 2019.”

Bill Xue
Chairman
Western Potash Corp.

Qualified Persons

The content of this news release has been read and approved by Gregory F. Vogelsang, P.Eng., P. Geo., FGC, FEC Project Manager of the Company.  Mr. Vogelsang is a Qualified Person as defined by NI 43-101.

Readers are cautioned that the projected mining method, potential production profile and plan and mine plan referred to in the Pilot Study and this release are conceptual in nature. There is no certainty that a potential mine will be realized or that a production decision will be made.

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

Western Resources Corp. (WRX: TSX) (FSE: WR0) announced today that Western Potash Corp.’s wholly-owned Milestone Phase I Project Company, the Milestone Potash Corp. (“Milestone” or “the Company”) has entered into an agreement with SNC-Lavalin Inc. (“SNC-Lavalin”) to complete the detailed engineering for the Milestone Phase I Selective Solution Mining Project (“the Project”) located in southeast Saskatchewan. Western Potash Corp. is the wholly-owned subsidiary of Western Resources Corp.

As reported in its 21/12/2016 news release, the Company has completed a Class 3 ( /- 10% CAPEX) engineering report on the Phase I Project. However, through assessment of the overall global potash market situation, the Company decided to revise its market destination by successfully entering into a non-binding Memorandum of Understanding (MOU) with a senior North American agriculture industry player to transport and offtake 100% of the Phase I Project potash production to the North American market. The engineering contract with SNC-Lavalin is to complete the detailed ‘construction-ready’ drawings (issue for construction drawings) for the process plant and associated infrastructure, and specifications, basic and detailed design to accommodate a compaction system for the granular product to meet with the requirement of the North American market. Detailed engineering deliverables will be completed in the early 2019 ready for final tendering and construction. SNC-Lavalin will also provide quality assurance inspections for equipment procurement and on-site technical support during construction.

Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company. It provides comprehensive end-to-end project solutions, particularly in consulting, design, engineering, construction, sustaining capital and operations and maintenance in the areas of mining, metallurgy, infrastructure, clean power, nuclear and engineering design and project management.

Mr. Bill Xue, President and CEO of Western Resources Corp. commented, “Western Resources is extremely pleased to see that the Milestone Phase I Project has progressed to this point. We look forward to working with SNC-Lavalin to move the Project to the construction phase and we are excited about the positive results we have generated to date on the Selective Solution Mining Process. The Milestone Project will be an innovative and low-cost method to produce potash”.

Western Potash Corp. (“Western”) has been working diligently over the last two years in order to create the best possible conditions to move the Milestone Phase I Project forward, including aspects of project engineering, marketing, financing, technical optimisation and most importantly, the support of local community and government at various levels. As parent company of Western, Western Resources will consider the status of the project at its upcoming board meeting in April, and if appropriate make a decision on the full commencement of construction.

In support of this, Western plans to initiate some early works activities at its Milestone Phase I Project mine site in 2018.  In particular, Western plans to move up to 50,000 tonnes of aggregate to the site commencing mid-March prior to road bans.  The early placement of aggregate at the site will minimize any road damage, in consultation with the RM of Lajord.

Western will make sure that aggregate hauling will have minimal impact on the local community. Aggregate will be transported from gravel pits located near Davin and will utilize the Lajord grid south and across Highway #33 and a further 3 miles south on the Lajord grid and west to the project site on NW20-14-17W3.  This route minimizes traffic past residences and local traffic.  Hauling will likely occur from 8 pm to 10 am when road surfaces are frozen.  The aggregate haulage will be conducted by a reputable local contractor with a strong emphasis on safety and high regard for the local community.

Western will continue to keep all stakeholders, including the local community, updated as information is available.

If you have any questions or concerns please call us at (306) 924-9378. 

On December 5, 2017, the management of Western Potash Corp. (the Company) met with elected representatives of the Government of Saskatchewan in the province’s Legislative Building to provide an update on the Milestone Project. Present at the meeting were the Honorable Brad Wall, Premier of Saskatchewan, the Honorable Nancy Heppner, Minister of Energy and Resources, the Honorable Steven Bonk, Minister of the Economy as well as other government officials. Attending from Western Potash Corp. was Bill Xue, George Gao, Arthur Ma, Matthew Wood, Jerry Zhang and Greg Vogelsang, with Honorable James Moore, Chairman of Western Potash’s parent company, Western Resources Corp, attending via telephone.

On behalf of the Company, Western Potash’s CEO, Mr. George Gao, provided a detailed update and outlined recent progress on the Milestone Phase I Project, including advancing the engineering, financing and offtake arrangements, amended agreements with the Rural Municipality of Lajord and the water supply agreement with the City of Regina. Western Potash emphasized the importance of working collaboratively with the Government and local communities as it continues to advance the Milestone Project to construction and operations.

Premier Brad Wall welcomed Western Potash Corp.’s move of its head office to Regina and expressed the government’s support to the Milestone Project. Minister Heppner and Minister Bonk described the government of Saskatchewan’s support for innovative projects such as the Milestone Phase I Project and committed to continued support through the government’s existing tax credit programs which provide companies with incentives to invest in the potash industry.

Western Potash will continue to work with the government and communities of Saskatchewan to move the Milestone Project to construction and production and make it the newest greenfield potash development in the province.

Vancouver BC – Western Resources Corp. (TSX: WRX) (FSE: WR0) (“Western” or “the Company”) is pleased to announce that its wholly owned subsidiary Western Potash Corp. and the City of Regina (“the city”) have both agreed to the revised key commercial terms for the supply of treated wastewater from the city for the Company’s proposed Milestone Potash Project located 35 km southeast of Regina, Saskatchewan. Regina’s City Council voted in favor of the agreement at its meeting on October 31, 2017. The two parties are now in the process of finalizing the agreement.

In November 2012, the City and Western Potash Corp. entered into an agreement that allowed the City to provide Western with access to recycled wastewater for a 2.8 million tonne per year conventional potash solution mine.  In response to the potash market, Western Potash adjusted the development plan and re-scoped the project to utilize the innovative “horizontal drilling selective solution mining” techniques that will provide a significantly reduced UNIT CAPEX and competitive OPEX.  To secure the most favorable data, Western will use this innovative technology to develop a 146,000 tonne per year capacity Phase I project. Once the technique is tested, Western will develop the previous 2.8 million capacity project in two phases, each at a 1.4 million tonnes potash production per year. The Phase 1 project will use groundwater from the mine site and Phase II and III projects will use treated water from the City. The selective solution mining technology uses substantially less water than conventional solution mining techniques, and the renegotiated agreement therefore reduces the volume of water correspondingly.

Negotiating teams worked very hard over the past six months and came up with a mutually beneficial agreement that extends the right to access 25,000 cubic meters per day of treated wastewater until 2025, and a further 40 years access once wastewater is drawn.

Included in the terms of the new agreement, Western has agreed to pay a commitment fee of $200,000 when the final agreement is signed, and an annual ‘standby’ fee of $100,000 for every year that water is not drawn. When Western begins to draw water, 50% of the standby and commitment fees paid to the City will be refunded in the form of a credit against water usage charges.

This unique agreement provides the City with an economic opportunity for revenue during the 40-year life of the agreement and standby fees if the project does not proceed by 2025.  In addition，the re-use of wastewater is beneficial in both the reduction of use of fresh water, and eliminating wastewater from local rivers and creeks.  It will also mean that the Milestone Potash Mine will essentially use no fresh water (aside from minor potable and process requirements). Worthy of mention is that this new technology, in addition to the reduction of water consumption, is very environmental friendly, with no more salt tailings above ground, energy usage significantly reduced and minor subsidence.

Mr. Bill Xue, Chairman of Western Potash, commented, “we are very pleased with the terms of the new agreement with the city of Regina and appreciate all the hard work that went into the negotiations.  This agreement benefits all parties involved and has substantial environmental benefits. We are continuing with the development of the Milestone Phase I project through the innovative technology and will actively advance the 2.8 million tonne full-scale project. We look forward to a long-term relationship with the City.”

ON BEHALF OF THE BOARD OF DIRECTORS

James Moore
Chairman

Qualified Persons

The content of this news release has been read and approved by Gregory F. Vogelsang, P.Eng., P. Geo., FGC, Project Manager of the Company. Mr. Vogelsang is a Qualified Person as defined by NI 43-101.

Readers are cautioned that the projected mining method, potential production profile and plan and mine plan referred to in the Pilot Study and this release are conceptual in nature. There is no certainty that a potential mine will be realized or that a production decision will be made.

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jerry Zhang, Corporate Secretary, at 604-689-9378.