Ethiopian Potash Announces Results of Shareholder Meeting and Closing in Escrow of All Transactions Including the Danakil JV and Acquisition of Togo and Mali Properties

TORONTO, ONTARIO--(Marketwired - July 2, 2013) - Further to its press release of June 3, 2013, Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE:FED) announces that at a meeting of shareholders of the Company held on June 30, 2013, all resolutions were passed including those approving the early exercise of EPC's option to acquire G and B Central African Resources Ltd. and the forming of a joint venture between EPC and Danakil Potash Corporation, (each as further described in EPC's press release of April 22, 2013), and the acquisition by EPC of Premier African Minerals Limited's properties in Togo and Mali (together the "Transactions"). The Transactions have closed in escrow pending final approval of the TSX Venture Exchange, which is expected shortly. EPC will update shareholders once TSX Venture Exchange final approval is obtained.

About Ethiopian Potash Corp.

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

On behalf of the Board of Directors

George Roach, CEO & Director

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 EPC believes, expects or anticipates will or may occur (including, but not limited to, the Transactions receiving final approval from the TSX Venture Exchange) are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. The Company 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 risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to EPC's filings with the Canadian securities regulators available on www.sedar.com.