Sirius Exploration PLC
LSE : SXX

March 31, 2010 07:48 ET

Completion of acquisition of AusPotash Corporation

For immediate release: 31 March 2010

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

Further to the announcements made on 15 September, 22 September, 29 September 2009 and 11 January 2010,  Sirius
Exploration  (AIM:  SXX,  OTCQX: SRUXY) announces that it has today completed the  purchase  of  the  remaining
17,590,741  common  shares  in  AusPotash  (the "Transaction"), at a price  of  CAD$0.40  per  AusPotash  share
purchased.  As  a  result  of the Transaction, Sirius Exploration now owns 100 per cent  of  AusPotash.  Sirius
Exploration has issued 35,181,482 new Ordinary Shares at a price of 11.25p per share in consideration  for  the
Transaction.

Accordingly,  35,181,482  new  Ordinary Shares of 0.25p per share ("Ordinary  Shares")  have  been  issued  and
allotted.  Application will be made for 35,181,482 new Ordinary Shares, which will when issued rank pari  passu
with  the  existing  Ordinary Shares in issue, to be admitted to trading on AIM and  trading,  is  expected  to
commence on 8 April 2010.

As  a  result of the Transaction, 19,429,488 Ordinary Shares are to be issued to Transparent Holdings  Limited.
Therefore, Walter Doyle, the beneficial owner of Transparent Holdings, now has a notifiable interest in  Sirius
of 60,429,488 Ordinary Shares, representing 9.1% of the issued share capital.

Following  the issue of the new Ordinary Shares as set out above, the total number of shares in issue  will  be
663,300,160.

- Ends -

Contacts:

For further information, please contact:

Sirius Exploration Plc                                              
                                                                    
Richard Poulden                                 Tel: +971 504 524 994
                                                                    
Jonathan Harrison                               Tel: +44 78 7988 7755
                                                                                                                       

Beaumont Cornish Limited (Nomad)                Tel: +44 (0) 207 628 3396
Roland Cornish                                                      
                                                                    
Daniel Stewart & Company plc (Broker)           Tel: + 44 (0) 20 7776 6550
Simon Leathers                                                      
                                                                    
Gth Media Relations                             Tel: + 44 (0) 20 3103 3902/ 3903
Toby Hall/Christian Pickel                                          

Notes to Editor:

Sirius  Exploration Plc is focused on commercialising properties that sit over known salt and  potash  deposits
through a combination of mining and developing energy and CO2 storage related projects for its properties.  The
Company's operations include interests in properties that overlie significant salt and potash deposits in North
American and Australia.
To  this end, Sirius has acquired the Intellectual Property and the issued share capital of three research  and
development  companies  focused on innovative new technologies for developing its properties  post  the  mining
phase. These technologies cover storing CO2 in the salt caverns created through solution mining, approaches for
safely  sequestering CO2 in underground salt beds, and the development of new CO2 based Compressed  Air  Energy
Storage facilities for generating electricity.

Sirius also continues, for the time being, to maintain its historic copper and gold interests in Macedonia  and
iron ore interest in China via its equity position in a CIC Mining Resources Ltd vehicle.

Incorporated in October 2003 as a private company, Sirius Exploration subsequently re-registered  as  a  public
company  on  22 March 2005 when it was admitted to AIM. The Company's shares are additionally traded  in  North
America as American Depository Receipts "ADR's" on the OTC Pink Sheets market.

Contact Information

  • Sirius Exploration Plc