Potash Ridge Receives a Positive Prefeasibility Study for Its Blawn Mountain Project

Potash Ridge Corporation ("Potash Ridge" or the "Corporation")
(TSX:PRK)(OTCQX:POTRF) is pleased to announce that Norwest Corporation
("Norwest") has completed an independent Prefeasibility Study ("PFS") for the
Corporation's flagship Blawn Mountain Project in Utah (the "Project"). The PFS,
which was prepared in accordance with NI 43-101, demonstrates that the Project
is technically and economically viable and that further development of the
Project is justified. 


Key Highlights of the PFS (all  figures denominated in U.S. dollars and U.S.
short tons)




--  Surface mine with conventional crushing, roasting, leaching and
    crystallization processes; 
    
--  An average of 770,000 tons of sulphate of potash ("SOP") per annum
    during first 10 years of operation after ramp-up; life of mine average
    of 645,000 tons of SOP per annum; 
    
--  Proven & Probable mineral reserves of 426 million tons; 
    
--  Reserves support 40 year mine life, with potential to increase life of
    operations through exploration of two additional zones of known
    mineralization; 
    
--  Project after tax Net Present Value ("NPV") of $1.0 billion using a 10%
    discount rate: 
    
    --  Total sales of 26 million tons of SOP over life of mine; 
        
    --  No terminal value added to the NPV, which assumes no extension to
        life of operations; 
        
--  Unlevered after tax internal rate of return ("IRR") of 20.5%; payback
    period of 5 years after commencement of operations; 
    
--  Installed SOP capital cost of $1.1 billion;  
    
--  Strong cash flow generation with cash flow from operations of $234
    million per annum excluding the two year ramp up period;; 
    
--  Approximately 28% of direct capital costs are supported by packaged
    quotes; 
    
--  Expect to be a low cost producer: average net cash operating costs after
    by-product sulphuric acid credits of $218 per ton of SOP (inclusive of
    royalties), $173 per ton (exclusive of royalties); no credit assumed for
    possible revenue from the sale of alumina material. 



Mr. Guy Bentinck, CEO, stated: "The completion of the PFS is a major milestone
in the development of the Project. We are extremely pleased with the results
that demonstrate the technical and economic viability of the Project. The PFS
highlights that we have a 40-year Project, entirely based on mineral reserves,
with a technically sound and economically proven flow-sheet. The Project offers
a unique opportunity for significant production of SOP in Utah, one of the most
favourable mining jurisdictions in the world. In recent months the North
American SOP market dynamics have demonstrated strong long-term fundamentals,
resulting in increasing pricing premiums over MOP. Our intention is to move
forward into the Feasibility Study stage early next year. We will also continue
with strategic initiatives to pursue long-term partnerships and financing
arrangements for the development and construction of the Project."


Economic Summary

The Project has an estimated NPV of $1.0 billion (after tax, 10% discount rate)
and an estimated unlevered IRR of 20.5% (after tax).


Production volume is planned at an average of 645,000 tons of SOP per annum for
the 40-year life of the Project, ranging from 861,000 tons per annum to 496,000
tons per annum. An average of 1.4 million tons of sulphuric acid is also planned
to be produced annually. 


Over the life of the Project, a total of 26.4 million tons of SOP and 59.0
million tons of sulphuric acid is planned to be produced. 


Economic Indicators:



NPV (pre-tax, at 10%)                                           $1.4 billion
NPV (after tax, at 10%)                                         $1.0 billion
IRR (pre-tax)                                                          23.5%
IRR (after tax)                                                        20.5%
Average annual SOP production                                   645,000 tons
Average annual sulphuric acid production                      1,440,000 tons
SOP price (average)                                                 $649/ton
Sulphuric acid price (average)                                      $135/ton
Project life                                                        40 years
Initial Capital cost (including average 15%                                 
 contingency)                                                 $1,124 million
Operating cost (including royalties)                            $218/ton SOP
Operating cost (excluding royalties)                            $173/ton SOP
Payback period (from commencement of operations)                     5 years



The economic evaluation is based on the following assumptions:



--  Site construction commences late 2015; 
    
--  Production ramp-up over 2 years (2017-2018), reaching full production in
    2019; 
    
--  Average annual SOP production in first 10 years of full production of
    770,000 tons; 
    
--  SOP pricing from CRU forecast; 
    
--  Capital and operating costs as described below; 
    
--  Average tax rate of 35%; 
    
--  Royalty payments of approximately $28.7 million per annum; and 
    
--  Approximately 500 jobs at full production. 



Capital Costs 

The Corporation estimates that it will incur capital costs of approximately $1.1
billion to develop, construct and bring the Project into commercial production.
Sustaining capital expenditures are estimated to amount to an additional $160
million spread over the 40-year mine life. The capital cost estimate has an
accuracy of -30%/+30%.


Total Project Capital Estimate (USD M's)



----------------------------------------------------------------------------
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                                         Total                              
                                  Construction                    Total Life
                               and Development     Sustaining     of Project
                                       Capital        Capital        Capital
----------------------------------------------------------------------------
Project Infrastructure                  $   90         $    3         $   93
----------------------------------------------------------------------------
Processing Plant                        $  954         $  153         $1,107
----------------------------------------------------------------------------
Product Storage and Handling            $   30         $    4         $   34
----------------------------------------------------------------------------
Contingency                             $   50         $    0         $   50
----------------------------------------------------------------------------
                          Total         $1,124         $  160         $1,284
----------------------------------------------------------------------------
----------------------------------------------------------------------------



The Project will also require additional utilities and infrastructure in the
amount of $641 million. Potash Ridge has pursued build-own-operate ("BOO")
arrangements for much of the Project's utility requirements and has identified
funding opportunities through established government programs for certain
infrastructure requirements. Under these BOO arrangements, third party service
providers will finance the construction, own, operate and maintain certain
utility support assets. These include contract mining, the natural gas pipeline,
water production, the sulphuric acid plant and associated facilities. Current
state and federal programs are available to assist in the development of the
County access roads and the rail line.


In addition to mitigating Potash Ridge's capital requirements, these BOO
arrangements dedicate responsibility for operating these utility and
infrastructure and support assets to experienced operators that will manage the
assets in a reliable and cost-efficient manner, allowing Potash Ridge to focus
on the production of its key products. Potash Ridge has received indicative
proposals from various parties with respect to the majority of these support
assets; accordingly, Potash Ridge does not anticipate incurring these capital
costs.


Operating Costs 

The net cash operating cost for the Project, after deducting the estimated
credit from sales of sulphuric acid, is estimated to be $218/ton of SOP.
Excluding royalties, the net cash operating cost is estimated to be $173/ton of
SOP. Expected average annual operating costs are shown in the table below:




----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                             Annual Average 
                                                            Cost($)/Ton SOP 
Total Cash Production Costs                            (Constant 2013 $USD) 
----------------------------------------------------------------------------
Direct Plant and Mine Cash Production Cost                           $  414 
----------------------------------------------------------------------------
Credit for Value of Acid                                             $ (302)
----------------------------------------------------------------------------
Subtotal of Direct Plant and Mine Cash Production Cost               $  112 
----------------------------------------------------------------------------
Royalties                                                            $   45 
----------------------------------------------------------------------------
Site G&A                                                             $   12 
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Property Taxes                                                       $   11 
----------------------------------------------------------------------------
3rd Party Facility Charges                                           $   34 
----------------------------------------------------------------------------
Corporate Overhead                                                   $    4 
----------------------------------------------------------------------------
Total before royalty                                                 $  173 
----------------------------------------------------------------------------
Royalty                                                              $   45 
----------------------------------------------------------------------------
Total Cash Production Cost                                           $  218 
----------------------------------------------------------------------------
----------------------------------------------------------------------------



The most significant operating expense is natural gas. A natural gas price of
$3.90 per MMbtu has been used and represents the delivered costs to gate based
on $3.50 per MMbtu sourced from current forward curve for the Kern River Opal
Hub, Wyoming, (Platts September 30, 2013).


Mineral Reserves

The Blawn Mountain Property consists of four main zones of alunite
mineralization contained within approximately 15,400 acres of land leased by
Potash Ridge located in Beaver County, Utah. The zones are labeled as Areas 1 to
4 on the map below and show the drilling performed by Potash Ridge since the
inception of the Project and the historical drilling.


To view Topography and Drill Hole Locations, please visit the following link:
http://media3.marketwire.com/docs/909725-PRK-figure-1.pdf


Drilling to date by the Corporation has focused only on Areas 1 and 2. The
mineral reserves are presented in the table below. Areas 3 and 4, which are
defined by a limited number of historical drill holes, are recognized as future
exploration targets.


 Mineral Reserves, by Category Effective Date November 6, 2013



----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                Reserve Category            
                                         -----------------------            
                                              Proven    Probable            
                                         ('000 tons) ('000 tons)       Total
----------------------------------------------------------------------------
Alunite Ore (ROM tons)                       136,254     289,540     425,794
----------------------------------------------------------------------------
SOP (tons)                                     8,457      17,970      26,427
----------------------------------------------------------------------------
SOP (average K2O (%) grade)                     3.56        3.49        3.51
----------------------------------------------------------------------------
SOP (average K2SO4 (%) grade)                   6.59        6.46        6.49
----------------------------------------------------------------------------
Sulphuric Acid (tons) @ 98% Purity            18,888      40,136      59,024
----------------------------------------------------------------------------
----------------------------------------------------------------------------



Utilizing the geologic model and resource areas, a base case mine plan was
developed to meet certain criteria related to project economics, grade, target
production rates, etc. The mine plan at a prefeasibility level of assurance, was
found to be of positive economic value and forms the basis of mineral reserves.


Metallurgy

Metallurgical testing programs performed to date demonstrate that the Project's
alunite can be processed into SOP, and the alumina contained in the SOP leach
residue is in a form that can be processed into refined alumina through a
conventional Bayer plant. 


Metallurgical testing for the PFS was performed on three distinct composite
samples from various parts of the proposed mining area. The test work covered
all aspects of the contemplated flow-sheet, including grinding, calcining,
leaching and crystallization. 


One of the primary objectives of the test work was process optimization,
particularly given the current focus of maximizing production of SOP rather than
alumina. Several process optimization decisions were made as a result of this
test work, the most significant of which was the elimination of the
beneficiation step that was contemplated in the Preliminary Economic Assessment
("PEA") issued November 5, 2012. 


Alunite beneficiation included crushing, grinding and flotation that separated
silica from the alunite. Flotation was successful, though costly. In order to
achieve the required SOP recoveries using flotation, the ore had to be ground to
80 percent, passing 80 microns. Eliminating flotation allows for an increase in
the particle size to 1,000 microns without reducing SOP recovery. This
eliminates the capital cost of the flotation plant and reduces the capital cost
of the crushing and grinding facilities, but increases the capital cost of the
calcination facilities. 


From an operating cost perspective, eliminating flotation results in less energy
being required to crush and grind the material and expensive reagents used for
the flotation process will no longer be required. Also, less material will need
to be mined for the same level of production, as some of the SOP contained in
the resource was lost in the flotation process. The elimination of the flotation
step allows for a reduction in the size and complexity of the tailings facility,
as the larger particle size enabled a move to a free draining tailings pile and
pond instead of a conventional wet tailings impoundment. Along with the move to
whole ore processing rather than flotation, the ore production rate was also
evaluated, resulting in a new process plant ore production rate of 10.4 million
tons per year. The reduction in the production rate, the elimination of the
flotation circuit, the increase in the particle size, and its effect on tailing
water release resulted in significantly reduced water consumption.


Another process optimization identified during the test work was a reduction in
the calcination temperature. The PEA was based on a flotation circuit followed
by roasting the ore at a temperature of 800 degrees C, resulting in an overall
recovery of 67%. The whole ore test work confirmed that material sized to 1,000
microns could be roasted at a temperature of 550 degrees C to produce a calcine
material that can be leached with potassium extractions of 90%, while
maintaining the alumina in the leach residue in a form which is amenable for
processing into alumina through a conventional Bayer plant. 


Further metallurgical test work will be focused on optimization of equipment
design. This will include a continuation of pilot scale test work and larger
scale testing at vendor facilities. 


The final proposed process steps based on the results of test work to date are
presented in the section "Processing" below.


Mining

The surface deposit allows for ore and waste material to be removed using area
and bench mining, utilizing conventional truck/shovel techniques. A preliminary
evaluation of slope stability for the mine concluded that mine slopes with
overall angles of 45 degrees were appropriate. A relatively small equipment
fleet will be needed for mining operations. Preliminary water management plans
have been developed for surface water, groundwater and dust control for the pits
and haul road. 


The average mining rate for the life of the Project is 10.4 million tons per annum.

Processing

Alunite has been mined and processed worldwide for centuries. During World War
I, alunite was mined in the Mount Baldy mining district in Utah for production
of SOP. The district was again mined during World War II for alumina going to
production of aluminum for the war effort. These operations were not
economically viable in the post-war years due to their small scale. The size of
most western alunite deposits was not known until the 1970s. Many of the western
US alunite deposits are fairly large, potentially making them a cost-effective
source of SOP and a competitive alternative to bauxite for alumina. Australia
has a similar history of production of SOP and alumina from alunite during both
World Wars. 


In Azerbaijan, an alunite mine and processing facility produced alumina and SOP
from the 1960s until 1994, when the plant shut down due to a lack of power
following the collapse of the Soviet Union. 


Given the long history of producing SOP and alumina from alunite, the processing
steps are well understood and utilize conventional and proven equipment. 


A combination of unit operations is envisioned for the production of SOP based
on process optimization test results. The key operations are summarized below:




--  Primary crushing and stockpiling of ore 
    
--  Grinding and classification of the ground material 
    
--  Thickening and filtration of the ground material 
    
--  Calcining of crushed material 
    
--  Leaching the calcine with hot water to extract the SOP 
    
--  Thickening and filtration of the leach slurry to separate and recover
    dissolved SOP from the alumina-silica leach residues 
    
--  Crystallization of SOP 
    
--  SOP product drying, compacting, packaging and load-out 
    
--  Repulping of the alumina-silica leach residue 
    
--  Pumping leached alumina-silicate solids to free draining stockpile
    within the tailing impoundment 
    
--  Cleaning calciner off-gases and recovering the SO2 as sulphuric acid 
    
--  Reclaiming the water from the tailings for reuse in the process plant 



Logistics and Infrastructure

The property is approximately 30 air miles southwest of the town of Milford,
Utah and 30 air miles from the Nevada border. It is ideally Iocated close to all
major infrastructure required for the mine processing operation including major
highways, railroads, water sources, gas lines and construction suppliers.




--  The property is about 20 air miles west of the Union Pacific Railway
    ("UP") route, running north-south and connecting Salt Lake City with Las
    Vegas and farther points on the UP rail system. The railway will allow
    for convenient transportation to major SOP markets and ports, allowing
    for the option of exporting SOP not sold locally. 
    
--  There are two energy corridors that pass to the east of the Blawn
    Mountain Project containing the Utah-Nevada gas pipeline and the Kern
    River gas pipeline. The Corporation is presently speaking with providers
    regarding the supply of gas for the Project. 
    
--  The Corporation has identified a series of resources for the Project's
    water needs including the Wah Wah and Pine Valleys. The Corporation has
    submitted a water rights application to the state for the Wah Wah
    Valley, with the hearing scheduled for November 20, 2013. Obtaining the
    water rights will mark another major project development milestone. 
    
--  There are many construction businesses in the surrounding area that have
    the ability to supply construction materials for the Project. 



Marketing

SOP produced from the Project will be marketed domestically and globally. The
co-product sulphuric acid, will be marketed to existing U.S. phosphate
producers, copper and gold miners, as well as to mines under development in the
region. While not included in the PFS economics, the residue from the leaching
process contains alumina, and has the potential to serve the rapidly growing
bauxite market in China, or serve as a feedstock material for ceramic proppant
producers in the United States.


As the most commonly used alternative to Muriate of Potash ("MOP") when the
presence of chloride ions is undesirable, SOP sells at a premium over MOP.
Worldwide, for the period 2001 - 2010, SOP has commanded an average premium of
47% over MOP, ranging from 38% to 61%. The SOP market in western United States
is being served by a single producer leading to a supply constrained market. As
a result, the high value crop growers in these markets pay a larger premium for
SOP over MOP than premiums realized in other markets. In the third quarter of
2013, the average realized SOP price in the western US market was $646 per ton,
a 130% premium over the average realized MOP price.


Specialty crops best suited for SOP applications account for approximately 40%
of total crop revenues. SOP consumption in the United States is approximately
385,000 tons per annum, with over 50 percent of this demand coming from
California. California is the number one state in cash farm receipts, growing
58% of US-grown non-citrus fruits, nuts and vegetables and 100% of US almond
production (the second highest commodity in value after milk). Potash Ridge
believes the US market can absorb 535,000 additional tons of SOP per annum.


Potash Ridge intends to focus its SOP marketing efforts in the US on growers of
premium value crops. California will be a key market given its large
agricultural base of premium crops. Florida will be another key target.
Currently, approximately 100,000 tons per annum of SOP is imported into Florida
from Europe and Chile, which can also be displaced given the transportation
advantage. Outside of the United States, China and Brazil, with their growing
populations and growing need for food, are other key markets of focus for Potash
Ridge.


The existing Mountain West US market for sulphuric acid is in the region of 5.6
million tons per annum. In addition, there are new and planned mine developments
and existing mine expansions having the potential to significantly increase this
volume. These development prospects, combined with potential supply disruptions
by existing sulphuric acid producers in the region, are expected to lead to a
healthy demand for the Project's sulphuric acid production.


Potash Ridge has a memorandum of understanding ("MOU") in place with an existing
Utah mine that would result in a $150 per ton price for sulphuric acid based on
current sulphuric acid prices and transportation costs estimated by an
independent consultant. The MOU would result in the placement of 20% of the acid
produced by the Project. The off-take customer indicated that they would be
willing to accept the equivalent amount of elemental sulphur from Potash Ridge
should the decision be made to produce sulphur rather than sulphuric acid. The
counter-party has also agreed to provide a sink for the acid, whereby any unsold
acid could be used at their facility, eliminating the possibility of a shutdown
due to lack of storage facility for the acid at the plant.


As previously mentioned, the PFS economics do not include revenue from the sale
of the alumina-containing residue from the leaching process as a substitute to
bauxite as a feedstock into a Bayer facility. Metallurgical testing to date has
already confirmed that the alumina contained in this material is soluble in high
temperature caustic solutions; Bayer Process conditions, and may also be
acceptable as a raw material feed for low temperature refineries. The
Corporation is also in discussions with North American proppant producers to
provide alumina bearing feed material for the production of ceramic proppants.
Further testing is being carried out to determine whether the product meets the
required specifications for use as a feedstock into a Bayer plant for the
production of alumina or as a material for proppant.


Permitting and Approvals

The Project is located on 100% state-owned land controlled by the School and
Institutional Lands Administration ("SITLA"). These lands are not expected to
impact resources with federal oversight, and as such, federal site-specific
approval and permits are not anticipated to be required for the Project. State
permits are more streamlined in process and typically require a shorter period
of time for approval.


A strong permitting and environmental strategy has been developed and
implemented to support the permitting timeline. Potash Ridge has been very
diligent in evaluating the Project area's environmental conditions in order to
satisfy permitting and regulatory requirements. Required environmental baseline
field studies and surveys are nearing completion and final reports are being
prepared this fall. These studies will assist in preparing major operating
permit applications. The key upcoming permit submissions include the Large
Mining Permit, Air Quality Permit and Ground Water Permit, all of which are
scheduled to be submitted late in 2013 and 2014. 


Large Mining Permit - numerous environmental surveys have been completed to
provide the baseline assessments required to submit the permit later this year.
These surveys include wildlife, soil, vegetation, air, water and cultural
resources.


Air Quality Permit - the baseline monitoring was completed in September 2013,
permit preparation and submission to follow. 


Ground Water Testing - a program has been implemented to investigate the
groundwater in order to evaluate potential impacts, and if necessary provide
sufficient mitigation. The results of the investigation will be included as part
of the Large Mine Permit application and used to complete a Groundwater
Discharge Permit Application.


The Corporation was informed that a federal application by Beaver County to
improve an existing road was granted late July, marking another key permitting
milestone for the Project. The road will provide the Corporation access required
for the development and operation of the Project.


Project Schedule

The Project timeline presented below is conditional upon the Corporation
obtaining all required development and construction financing.




--  Feasibility - completed mid 2015; 
    
--  Permits - all construction and approval permits obtained by end of 2015;
    
--  Construction - beginning late 2015; 
    
--  Production ramp-up over 2 years (2017-2018) with full commercial
    production in 2019. 



While current market conditions make the funding of major capital-intensive
resource projects challenging, the Corporation believes that the Project's
strengths and competitive advantages are factors that will help overcome any
financing hurdles. The Corporation is actively pursuing strategic partners and
funding arrangements to support continued development of the Project. 


The Corporation expects to file an updated National Instrument ("NI 43-101")
Technical Report within 45 days of this release. The Report will be available on
both SEDAR (www.sedar.com) and the Corporation's website (www.potashridge.com).




----------------------------------------------------------------------------
Conference Call                                                             
                                                                            
The Corporation will host a conference call at 4.30pm Eastern Time on       
November 7, 2013 to discuss these results. Participants should register five
to ten minutes prior to the call.                                           
                                                                            
Call in details are as follows:                                             
Call in number 416-340-8527 / 800-952-4972                                  
                                                                            
The conference call replay will be available until 11:59 p.m. EST on        
November 21, 2013.                                                          
Replay call in number 905-694-9451 / 800-408-3053                           
Passcode 9408515.                                                           
----------------------------------------------------------------------------



Contributors 

Norwest Corporation

Norwest is an internationally-recognized leader in providing consulting
expertise to the energy, mining, and natural resources industries. For over 30
years they have offered a wide range of services to energy and mining companies,
electric power producers, financial institutions, governments, legal firms, and
regulatory agencies. Norwest's professional staff of engineers, hydrologists,
geologists, environmental specialists and management consultants bring extensive
industry experience to consulting projects. Accordingly, they understand the
opportunities, pressures, and constraints facing the industries they serve.
Their innovative, experienced-based approach is focused on assisting our clients
achieve world-class performance standards. See www.norwestcorp.com for further
details.


ICPE Inc.

ICPE is a Utah-based, full service-engineering firm providing a complete range
of professional mechanical, electrical, civil and structural engineering and
design services. Their principals and key project engineers have worked together
as consulting and design engineers since 1979. There are twelve (12)
professional engineers and twenty (20) project managers and project engineers on
staff. Their design teams have a wide range of experience well suited to meet
the needs of their clients. Their experience includes providing professional
engineering services to all industrial sectors. ICPE completes engineering in
all disciplines, and is also prepared to assume project management
responsibility and turnkey design/build services. See www.icpeinc.com for
further details.


Qualified Persons

Each of the Qualified Persons ("QPs") shown below has reviewed and approved the
scientific and technical disclosures contained in the PFS and in this release
and are independent of the company. QPs have verified the data including
sampling, analytical and test data underlying the information or opinions
contained herein. The QPs responsible are:


Norwest Corporation



Jason Todd - Mining and Financial                                           
Steven Kerr - Geology                                                       
Lawrence Henchel - Mineral Reserces                                         



ICPE



Robert Nash - Engineering                                                   
Ravindra Nath - Engineering                                                 



About Potash Ridge

Potash Ridge is a Canadian based exploration and development company with a
unique opportunity to develop a SOP and alumina rich material project into
long-term mining production.


The Company's Blawn Mountain Project consists of four areas of surface mineable
alunite mineralization in the State of Utah. Alunite is a sulfate mineral ore
rich in both SOP and alumina. 


Located in a mining friendly jurisdiction with established infrastructure
nearby, the project covers approximately 15,400 acres of state-owned land and
has a known permitting process. Extensive development was completed in the 1970s
including a mine plan, feasibility study and 3-year pilot plant operation.


Potash Ridge has a highly qualified and proven management team in place with
significant financial, project management and operational experience and the
ability to take projects into production.


Forward-Looking Statements

This press release contains forward-looking statements, which reflect the
Corporation's expectations regarding future growth, results of operations,
performance and business prospects. These forward-looking statements may include
statements that are predictive in nature, or that depend upon or refer to future
events or conditions, and can generally be identified by words such as "may",
"will", "expects", "anticipates", "intends", "plans", "believes", "estimates",
"guidance" or similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future events or
circumstances are forward-looking statements. These statements are not
historical facts but instead represent the Corporation's expectations, estimates
and projections regarding future events. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Corporation, are inherently subject to significant
business, economic and competitive uncertainties and contingencies. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but are not
limited to: the future financial or operating performance of the Corporation and
its subsidiaries and its mineral projects; the anticipated results of
exploration activities; the estimation of mineral resources; the realization of
mineral resource estimates; capital, development, operating and exploration
expenditures; costs and timing of the development of the Corporation's mineral
projects; timing of future exploration; requirements for additional capital;
climate conditions; government regulation of mining operations; anticipated
results of economic and technical studies; environmental matters; receipt of the
necessary permits, approvals and licenses in connection with exploration and
development activities; appropriation of the necessary water rights and water
sources; changes in commodity prices; recruiting and retaining key employees;
construction delays; litigation; competition in the mining industry; reclamation
expenses; reliability of historical exploration work; reliance on historical
information acquired by the Corporation; optimization of technology to be
employed by the Corporation; title disputes or claims and other similar matters.



If any of the assumptions or estimates made by management prove to be incorrect,
actual results and developments are likely to differ, and may differ materially,
from those expressed or implied by the forward-looking statements contained
herein. Such assumptions include, but are not limited to, the following: that
general business, economic, competitive, political and social uncertainties
remain favorable; that agriculture fertilizers are expected to be a major driver
in increasing yields to address demand for premium produce, such as fruits and
vegetables, as well as diversified protein rich diets necessitating grains and
other animal feed; that actual results of exploration activities justify further
studies and development of the Corporation's mineral projects; that the future
prices of minerals remain at levels that justify the exploration and future
development and operation of the Corporation's mineral projects; that there is
no failure of plant, equipment or processes to operate as anticipated; that
accidents, labour disputes and other risks of the mining industry do not occur;
that there are no unanticipated delays in obtaining governmental approvals or
financing or in the completion of future studies, development or construction
activities; that the actual costs of exploration and studies remain within
budgeted amounts; that regulatory and legal requirements required for
exploration or development activities do not change in any adverse manner; that
input cost assumptions do not change in any adverse manner, as well as those
factors discussed in the section entitled "Risk Factors" in the Corporation's
Annual Information Form (AIF) for the year-ended December 31, 2012 found on
sedar.com. The Corporation disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law.


BLAWN MOUNTAIN PROJECT 

SUPPLEMENTARY INFORMATION

1. BLAWN MOUNTAIN PROJECT BACKGROUND 

The Blawn Mountain Project (the "Project") consists of approximately 15,400
acres of Utah State mineral tracts owned by the State of Utah School and
Institutional Trust Lands Administration ("SITLA"). The Project focuses in the
mining and processing of alunite for the production of SOP and possibly alumina.
Alunite is a hydrated aluminum potassium sulphate mineral, KAl3(SO4)2(OH)6, from
which both SOP and aluminum can be extracted. 


The Blawn Mountain property was the subject of extensive study and exploration
activity conducted by Earth Sciences, Southwire Company and National Steel.
During the 1970s, these companies spent approximately US$25 million
(approximately US$100 million in today's dollars) on the exploration and
development of the Blawn Mountain Property. This work included drilling,
resource estimates, pilot plant testing, permitting, mine plan, feasibility
study and engineering. The pilot plant, which ran for three years at around 11
tons per day of alunite, incorporated roasting technology acquired from the
Soviet Union based on a then-existing commercially operated alunite processing
facility in Azerbaijan. The Project's primary product at that time was alumina,
although SOP and sulphuric acid were to be produced as by-products of the
production process. By the early 1980s, however, the project had lost momentum,
as a collapse in alumina prices and a stagflation economy made financing the
project difficult. 


In April 2011, Potash Ridge acquired the rights to the Project through an
Exploration and Option Agreement with SITLA. Potash Ridge also acquired
documentation pertaining to the above-mentioned historical work, which has been
used and is expected to continue to be used to expedite the exploration and
development of the Project.


The Project is located in southwest Utah, approximately 30 air miles southwest
of the town of Milford. Mining has played a major role in Utah's economy for
many years and the state is consistently ranked as one of the best jurisdictions
in the world to do business. Ideally located, the Project is close to road,
rail, power and natural gas infrastructure as well as mining support services.
Also, the Project is situated on 100% state-owned land, which allows for a
well-defined and efficient permitting process. These factors combine to provide
a favourable framework for the expedited development of the Project. 


Since late 2011, the Corporation drilled a total of 140 holes, comprising 103
reverse circulation and 37 core holes. 


On November 5, 2012, Norwest issued a NI 43-101 technical report entitled
Preliminary Economic Assessment - Blawn Mountain Project (the "PEA"). The PEA,
which included results of the drilling work through 2012 and preliminary
metallurgical test work, contemplated producing 750,000 tons per annum of SOP
over an expected 30-year life of Project. The preliminary metallurgical test
work was focused on confirming historical testing and pilot plant studies
previously performed on the property. The PEA contemplated mining an average of
17.5 million tons of material per annum, using a 1% cut-off. The material was to
be concentrated through a beneficiation plant before being processed into SOP
and by-product sulphuric acid. 


Drilling to date has focused on two of the four zones of alunite mineralization,
within the Project known as Area 1 and Area 2. Based on non-NI 43-101 resource
estimates from historical drilling on the remaining two zones known as Area 3
and Area 4, the potential exists to expand resources to support a longer mine
life or to expand production. 


In January 2013, Norwest commenced the PFS. Concurrently, the Corporation
embarked on a more extensive metallurgical test program. This second phase
metallurgical test program was focused on further confirming historical testing
and pilot plant studies and also on process optimization strategies, taking
advantage of new technologies and the fact that the primary product is now SOP.


2. PROJECT COMPETITIVE ADVANTAGES AND CORPORATION'S STRATEGY 



Key Advantage        Details                                                
----------------------------------------------------------------------------
Large Mineral        - Total mineral reserves of 426 million tons are       
Reserves             sufficient to support 40 years of operations.          
                                                                            
                     - Reserves demonstrate the economic viability of the   
                     project after taking account of all relevant           
                     processing, metallurgical, economic, marketing, legal, 
                     environmental, socio-economic and government factors.  
                                                                            
                                                                            
Premium Potash       - SOP is a high quality potash that typically sells at 
Product              a significant premium over potassium chloride ("MOP"). 
                                                                            
                     - SOP contains two nutrients (potassium and sulphur)   
                     and is ideally suited for application on high-value    
                     crops with known chloride sensitivity.                 
                                                                            
                     - Not subject to inflexible MOP market dynamics        
                     dominated by existing marketing organizations.         
                                                                            
                     - Recent market study has identified significant market
                     potential for SOP to be sold into markets in close     
                     proximity to the Project.                              
                                                                            
                     - In the last quarter, SOP sold in the US market at a  
                     130% premium over MOP.                                 
                                                                            
                                                                            
Mining Friendly      - Project is located in the State of Utah, which is    
Jurisdiction         ranked the best state for doing business by Forbes     
                     Magazine (December 2012) and one of the top            
                     jurisdictions for mining per Fraser Institute (April   
                     2013).                                                 
                                                                            
                     - Potash has been produced in Utah since the early 20th
                     century and there are currently three potash producing 
                     facilities in the State.                               
                                                                            
                                                                            
State-Owned Land     - The Project is located on 100% State-owned land and  
                     is governed by State permitting regulations.           
                                                                            
                     - State permitting regulations in Utah are generally   
                     straightforward and efficient.                         
                                                                            
                     - The Project has the strong support of State and      
                     Municipal Governments.                                 
                                                                            
                                                                            
Established          - The project is located about 32 km west of Union     
Infrastructure       Pacific Railroad, 24 km south of Highway 21 and 80 km  
Nearby               west of Interstate 15.                                 
                                                                            
                     - Two energy corridors pass to the east of the Project 
                     containing the Utah-Nevada gas pipeline and the Kern   
                     River gas pipeline.                                    
                                                                            
                     - The area surrounding the Project supports businesses 
                     that can supply construction materials.                
                                                                            
                                                                            
Proven Production    - Long history of SOP production from alunite.         
Process                                                                     
                     - Azerbaijan operated the latest processing facility,  
                     producing SOP and bauxite material for around 30 years 
                     until 1994.                                            
                                                                            
                     - Historically processed during 1915-1930 in Utah,     
                     United States.                                         
                                                                            
                     - Produced in Australia during both World Wars.        
                                                                            
                                                                            
Historical Work Has  - During the 1970s approximately US$25 million         
Expedited Project    (approximately US$100 million in today's dollars) was  
Development          spent on exploration and development of the Project.   
                                                                            
                     - The Corporation acquired all the historical data,    
                     including the 320 holes previously drilled, results of 
                     a three-year pilot plant study, engineering reports and
                     permitting work.                                       
                                                                            
                                                                            
Lower Operating Risk - The proposed mining operations will be surface       
                     mining, which is lower-cost than underground mining.   
                                                                            
                     - Surface mining additionally has lower operations risk
                     and higher resource recovery rates.                    
                                                                            
                     - Having the material at surface has also allowed the  
                     Corporation to perform extensive confirmation and      
                     process optimization testing.                          
                                                                            
                                                                            
Proven Management    - The Corporation is led by a strong management team   
Team                 with the proven capability to advance mining projects  
                     to production and with extensive experience in mining, 
                     operations, project financing and capital markets.     



Potash Ridge's strategy is to utilize these competitive advantages to advance
development of the Project in the shortest timeframe possible. 


3. THE PFS AS COMPARED TO THE PEA 

The PEA was completed in November 2012. Work on the PFS began early in 2013.

The flowsheet design contemplated in the PEA was largely consistent with the
historical flowsheet when the Project was previously evaluated in the 1970s
primarily for the production of alumina. 


The extensive metallurgical test program that followed completion of the PEA
primarily focused on process optimization strategies, opportunities to take
advantage of new technologies and the fact that the primary product is now SOP. 


As a result, the PFS includes a number of design improvements and other changes
in assumptions. The major changes are highlighted below:




----------------------------------------------------------------------------
Eliminated Beneficiation Step                                               
----------------------------------------------------------------------------
The PEA assumed an        The PFS eliminated this flotation step in favour  
initial flotation step    of whole ore processing. A number of advantages   
to upgrade the alunite    arise from this change:                           
content of the resource.                                                    
                          - For flotation to work successfully, the material
                          needs to be crushed and ground to 80 microns.     
                          Eliminating flotation allows for an increase in   
                          the particle size to 1,000 microns.               
                                                                            
                          - This eliminates the capital cost of the         
                          flotation plant and reduces the capital cost of   
                          the crushing and grinding facilities, but         
                          increases the capital cost of the calcination     
                          facilities, as more material needs to be roasted. 
                                                                            
                          - The elimination of the flotation step also      
                          allows for a reduction in the size and complexity 
                          of the tailings facility, as the larger particle  
                          size enables a move to dry-stack instead of wet   
                          tailings.                                         
                                                                            
                          - From an operating cost perspective, less energy 
                          is required to crush and grind the material and   
                          expensive reagents used in the flotation process  
                          are no longer required. Also, less material needs 
                          to be mined for the same level of production, as  
                          some of the SOP contained in the resource is lost 
                          in the flotation process.                         
                                                                            
                          - Eliminating the flotation plant reduces water   
                          consumption. With the elimination to the          
                          beneficiation step, water consumption is          
                          significantly reduced.                            
----------------------------------------------------------------------------
                                                                            
Reduced Calcination Temperature                                             
----------------------------------------------------------------------------
The PEA contemplated a    - The PFS uses test work that showed that material
roasting temperature of   sized to 1,000 microns could be roasted at a      
800 degrees C, to         temperature of 550 degrees C to produce a calcine 
produce a calcine         material that can be leached with potassium       
material from the 80      extractions of 90%, while rendering the alumina-  
micron sized material     content leach residue amenable for processing into
that can be leached,      alumina through a conventional Bayer plant.       
with potassium                                                              
extractions of 64%.                                                         
----------------------------------------------------------------------------
                                                                            
Increased Cut-Off Grade and Improved Mine Plan                              
----------------------------------------------------------------------------
The PEA was based on a    - The PFS increases the cut-off grade from 1% to  
Measured and Indicated    3.5% in Area 1 and 3.25% in Area 2. Increasing the
Resource of 620.7         cut-off grade means that less material needs to   
million tons of resource  get mined and processed to achieve the same SOP   
at a 1% K2O cut-off       production volume, with an overall benefit to     
grade.                    capital and operating costs.                      
                                                                            
The PEA assumed a         - As part of this change, improvements were made  
Project life of 30        in the mine plan to process higher-grade material 
years, although           in the initial 25 years of operations and to      
resources supported a     stockpile lower grade material for processing in  
longer life.              the remaining 15 years of operations.             
                                                                            
                          - The PFS reports NI 43-101 compliant reserves of 
                          426 million tons for a total of 40 years of       
                          operations. This excludes potential resources from
                          two additional alunite zones not yet drilled to NI
                          43-101 standards.                                 
----------------------------------------------------------------------------
                                                                            
Purchasing Electricity Instead of Cogeneration                              
----------------------------------------------------------------------------
The PEA assumed the       - The PFS assumes that power requirements will be 
construction of an 85MW   obtained from the grid. The local power provider  
natural gas cogeneration  has confirmed the availability of sufficient      
facility at site for the  electricity.                                      
entire Project's needs.                                                     
                          - The PFS assumes a $0.058 per kWh cost for       
The PEA assumed a price   electricity and is based on an indicative         
of electricity of $0.058  termsheet from the local power provider. This     
per kWh based on a $3.00  strategy replaces the need to purchase natural gas
per BTU gas price.        at market prices for electricity production, with 
                          electricity procured at rate-regulated prices. A  
                          semi-annual rate survey conducted by the Edison   
                          Electric Institute shows that Utah's electricity  
                          rates are among the lowest in the United States.  
                          Approximately 82% of Utah's net generation of     
                          electricity comes from coal-fired plants,         
                          primarily from captive coal mines under long-term 
                          supply contracts.                                 
----------------------------------------------------------------------------
                                                                            
Added Rail Spur to Site                                                     
----------------------------------------------------------------------------
The PEA assumed that SOP  - The PFS assumes construction of a rail spur.    
and sulphuric acid would  This change eliminates trucking costs and reduces 
be trucked to the         road traffic between site and the rail line.      
existing rail line,                                                         
approximately 20 miles                                                      
from site.                                                                  
----------------------------------------------------------------------------
                                                                            
Higher Natural Gas Price                                                    
----------------------------------------------------------------------------
The PEA assumed a         - The PFS increased the natural gas price         
natural gas price of      assumption to $3.90 per MMBTU delivered. (Platts  
$3.00 per MMBTU           20 year forward curve, Sept 30, 2013)             
----------------------------------------------------------------------------



FOR FURTHER INFORMATION PLEASE CONTACT: 
Potash Ridge Corporation
Laura Sandilands
Manager of Investor Relations
416.362.8640 ext. 101
[e-mail]
www.potashridge.com