Allana Potash Corp.
TSX : AAA

Allana Potash Corp.

September 29, 2014 07:00 ET

Allana Potash Hosts High-Level Ethiopian Government Delegation in Canada

TORONTO, ONTARIO--(Marketwired - Sept. 29, 2014) - Allana Potash Corp. (TSX:AAA) ("Allana" or the "Company") is pleased to report that its senior management hosted a delegation of top Ethiopian government officials in Toronto as part of the Africa - Canada Trade/Economic Summit held in Canada recently.

The delegation was represented by a number of senior Ethiopian government officials including Mr. Ato Kassa Tekle-Berhan, Speaker of the House of the Ethiopian Federation; Mr. Tolesa Shagui, Minister of Mines; Mr. Alemayehu Tegenu, Minister of Water, Irrigation & Energy; Mr. Fitsum Arega, Director General of the Ethiopian Investment Agency, and Her Excellency, Madame Birtukan Ayano Dadi - Ambassador of Ethiopia to Canada.

Farhad Abasov, Allana's President and CEO, led the Allana team which included both management executives and two board members. Mr. Abasov explained the long history of the company's operations in the Afar region of northeastern Ethiopia and the benefits of the soon to be built potash mine located in the Danakhil Depression.. He voiced the company's appreciation for the excellent relationship between Allana Potash and the Ethiopian people and the government. Mr. Abasov emphasized the socio-economic significance of Allana's potash project for the Ethiopian people as a whole and in particular the people of Afar. It was stated that without the cooperation of all levels of government, private businesses and international financing organizations, this project would not have been possible.

Addressing the Ethiopian delegation, Mr. Abasov stated: "It is with great pleasure, that we welcome you to Canada and we thank you whole-heartedly for all that the Ethiopian government and Ethiopian people have done to assist in the success of our ground-breaking Dallol potash project. Ethiopia is a fast-growing and stable country in the Horn of Africa that will continue to show the rest of the world what a responsible and forward-thinking government can accomplish in a relatively short period of time. We look forward to getting our project into production as soon as possible, so that we can participate in the economic miracle that is Ethiopia today."

Mr. Telke-Berhan, speaking on behalf of the Ethiopian delegation echoed Mr. Abasov's sentiments and added that Ethiopians have been focusing on building up their infrastructure, opening up the country's economy to foreign direct investment and fully supporting active companies such as Allana. Mr. Telke-Berhan noted: "With hard work, sheer determination and the will of the people, Ethiopia has and will make great strides in developing itself into a stable and business-friendly jurisdiction in East Africa. Paramount among our government policies has been the betterment of our people first, in terms of health, education and standard of living. We are now reaching towards the responsible development of our plentiful natural resources and various energy sources to help achieve these goals and Allana Potash is a good example of the cooperation between Canada and Ethiopia that will bring these kinds of projects to reality."

The Minister of Mines has expressed his full support for Allana's project and pledged further assistance with the continuing infrastructure build up in the potash basin.

Mr. Abasov further commented: "This meeting takes place at a critical juncture of our project's development. Various pieces of the project are coming together including financing, infrastructure development, mining permit, water extraction rights, and strategic investment from a large industry player. It is very important for Allana's management and board, its shareholders and strategic partners to enjoy continuous strong support and assistance from all branches of the Ethiopian government including key ministries represented in the delegation."

About Allana Potash Corp.

Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on its potash property in Ethiopia. Allana has secured financial support from three significant strategic investors: ICL, one of the world's largest potash producers, IFC, a member of World Bank Group, and LMM, a member of Liberty Mutual Group. Allana has estimated measured Sylvinite mineral resources of 115.3 million tonnes of 27.8% KCl; indicated Sylvinite mineral resources of 212.1 million tonnes of 28.6% KCl, and an estimated inferred Sylvinite mineral resource of 90.8 million tonnes grading 27.8% KCl, In addition, the Project hosts measured Kainitite mineral resources of 552.3 million tonnes at 19.4% KCl, indicated Kainitite mineral resources of 598.2 million tonnes of 19.5% KCl and an estimated inferred Kainitite mineral resource of 481.8 million tonnes of 19.8% KCl; estimated measured Upper Carnallitite mineral resources of 121.5 million tonnes grading 17.5% KCl, estimated indicated Upper Carnallitite mineral resources of 289.8 million tonnes of 17.2% KCl and estimated inferred Upper Carnallitite mineral resources of 175.5 million tonnes of 16.5% KCl; estimated measured Lower Carnallitite mineral resources of 235.0 million tonnes of 9.7%KCl, estimated indicated Lower Carnallitite mineral resources of 322.2 million tonnes of 8.9% KCl and estimated inferred Lower Carnallitite mineral resources of 369.3 million tonnes grading 7.7% KCl. The foregoing mineral resource estimates are as at April 17, 2013. For more information with respect to the data verification procedures undertaken and the key assumptions, parameters and risks associated with the foregoing estimates, refer to Allana's Technical Report entitled "Resource Update for the Danakhil Potash Deposit, Danakhil Depression, Afar State, Ethiopia" dated effective April 17, 2013 filed under the Company's SEDAR profile at www.sedar.com on August 7, 2013.Allana has approximately 325.2 million common shares outstanding. Allana trades on the Toronto Stock Exchange under the symbol "AAA". For more information, please visit the Company's website at www.allanapotash.com.

Dr. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is the Company's designated Qualified Person and has reviewed and approved the technical information presented in this release.

Forward-Looking Statement

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions, assumptions 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, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Such risks are discussed in the risk factors sections of our latest annual information form, our technical reports and other continuous disclosure documents filed from time to time at www.sedar.com. 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 statements or 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 statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.

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