Ethiopian Potash Announces Research Coverage

TORONTO, ONTARIO--(Marketwire - March 22, 2011) - Ethiopian Potash Corp. (the "Corporation" or "EPC") (TSX VENTURE:FED)(TSX VENTURE:FED.WT) is pleased to announce that its agents in its most recent brokered financing, Fraser Mackenzie Limited and Salman Partners Inc., have initiated research coverage on the Corporation.

President and CEO David Wahl commented "We are very pleased by the early and positive coverage from our underwriters. EPC expects to commence drilling in late April 2011 with an initial objective of increasing known resources and confirming the continuity of mineralisation at shallow depth reported in recent press releases by immediately adjoining exploration companies to the South and East of EPC's property."

About Ethiopian Potash Corp.

Ethiopian Potash Corp. (TSX VENTURE:FED)(TSX VENTURE:FED.WT) is a Canadian company based in Toronto, Ontario, and Addis Ababa, Ethiopia.

Ethiopian Potash controls 481 sq km of shallow mineralisation potash development concessions in the fairway of the Danakil Depression, Ethiopia. The company has an existing 128 mil ton resource at 21% potash and is intent on aggressively fast-tracking its properties to production.

On behalf of the Board of Directors

David Wahl, President and CEO

Forward-Looking Information

This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Corporation believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Corporation's control. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Corporation's filings with the Canadian securities regulators available on www.sedar.com.