Sirius Exploration
LSE : SXX

September 29, 2009 03:00 ET

Completion of acquisition of 63.5% of AusPotash Corporation

For immediate release: 29 September 2009, 8:00am

                                                       
                                            Sirius Exploration PLC
                                          ("Sirius" or the "Company")
                                                       
                          Completion of acquisition of 63.5% of AusPotash Corporation

Further  to  the  announcements  made on 15 September and 22 September 2009,  Sirius  (AIM:  SXX,  OTC:  SRUXY)
announces that it has today entered into an agreement amending and restating the lock-up agreement referred  to
in  the  announcement  made  on 22 September 2009, and has, consequently, completed the  acquisition  today  of
36,050,000 common shares of AusPotash, representing 63.5% per cent of the issued and outstanding common  shares
of  AusPotash  ("the Proposed Offer") at a price of CAD$0.40 per AusPotash share purchased. The  amendment  and
restatement agreement referred to above, inter alia, provides for further purchases to be made under the  offer
in  due  course.  The intention remains to acquire the balance of 19,241,591 common shares of AusPotash on  the
same  terms, upon the confirmation by the shareholders concerned of their status in regard to certain  Canadian
tax matters. As previously announced, the acquisition of the 1,493,415 common shares in which Jonathan Harrison
and Richard Poulden are interested are subject to the passing of a resolution by Sirius in general meeting.  In
addition,  as  announced in the press release of 22 September, 2009, 1,000,000 new Ordinary  Shares  have  been
issued  to  Greenwich  Global  Capital in connection with the termination  of  its  definitive  agreement  with
AusPotash pursuant to which the parties had agreed to complete a "Qualifying Transaction".

Accordingly,  73,100,000  new  Ordinary Shares of 0.25p per share ("Ordinary  Shares")  have  been  issued  and
allotted and trading in such shares is expected to commence on 29 September 2009.

Following  the issue of the new Ordinary Shares as set out above, the total number of shares in issue  will  be
363,505,150.

To  be effective later today, the board of directors of AusPotash will have tendered their resignations and  be
replaced  by  nominees of Sirius. In Canada the former President & CEO of AusPotash, R. Bruce Duncan,  will  be
reappointed  to  the  board and Jonathan Harrison, the Finance Director of Sirius,  will  join  the  board.  In
Australia,  the  Chairman  of Sirius, Richard Poulden, will take over as director of the  two  subsidiaries  of
AusPotash, Queensland Potash Pty Ltd and AusPotash Pty Ltd.

*  Note: Of the total 119,310,012 new Ordinary Shares for which application was made to AIM, as referred to  in
the announcement made on 22 September 2009, 73,100,000 new Ordinary Shares have been issued and allotted. While
there  remains  61,868,999 new Ordinary Shares available for issuance, the Company anticipates that  41,470,012
new Ordinary Shares, will likely be issued pending the anticipated purchases noted above.

- Ends -

Contacts:

Richard Poulden

Chairman, Sirius Exploration Plc.                   Tel: +61 406 647 976
                                                    richard.poulden@siriusexploration.com
Beaumont Cornish

Roland Cornish                                      Tel:  +44 (0)20 7628 3396

Gth media relations

Toby Hall                                           Tel: +44 (0)20 7153 8039

Christian Pickel                                    Tel: +44 (0)20 7153 8036

Website: www.siriusexploration.com

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