Potash Ridge Reports First Quarter 2014 Financial Results and Provides Update on Its Blawn Mountain Sulphate of Potash Project

Potash Ridge Corporation ("Potash Ridge" or the "Corporation") (TSX:PRK)
(OTCQX:POTRF) today released its first quarter financial results. 


2014 Q1 Financial Results



--  The Corporation reported a net loss for the first quarter of $0.2
    million ($0.00 per share) compared with a net loss of $1.0 million
    ($0.01 per share) for the first quarter of 2013. 
    
--  A total of $2.6 million was incurred on Blawn Mountain Project (the
    "Project") activities in the first quarter compared with $3.6 million on
    project activities for the first quarter of 2013.  
    
--  The Corporation closed the first quarter of 2014 with cash and cash
    equivalents of $5.5 million and had accounts payable and accrued
    liabilities of $0.9 million.



The Corporation's first quarter unaudited Financial Statements and Management's
Discussion & Analysis are available at www.sedar.com.


Key Project Highlights of the Three Months Ended March 31, 2014



--  Various studies undertaken by the Corporation's consultants have
    established premiums growers are willing to pay for sulphate of potash
    ("SOP") over muriate of potash ("MOP") for certain key crops due to
    yield benefits, and also the market demand potential for SOP in various
    key markets. These studies indicate that growers are willing to pay
    significant premiums, and that the demand growth potential in key
    markets is robust. During the quarter, the Corporation initiated
    discussions with various purchasers and users of SOP in North America,
    all of which have indicated a severe supply shortage. This supply
    shortage is expected to persist, given limited growth potential using
    existing SOP production processes. 
    
    The impact of the supply deficit, and the willingness and ability of
    growers to pay a significant premium for SOP over MOP is evident when
    comparing prices. In North America, average realized SOP prices were
    approximately US$670/tonne for the first quarter of 2014 compared with
    approximately US$690/tonne for the same period in 2013. By contrast,
    North American MOP average realized prices declined to approximately
    US$250/tonne during the first quarter of 2014 from approximately
    US$363/tonne during the same period in 2013. The average realized price
    for SOP is currently approximately 170% over the average realized price
    for MOP.
    
    
--  In February 2014, the Corporation filed its groundwater discharge permit
    application. The permit is expected in the second quarter of 2014. 
    
--  In March 2014, the U.S. Army Corp of Engineers confirmed the
    Corporation's findings that no jurisdictional waters or wetlands will be
    impacted by the Project and, accordingly, a "Department of the Army
    Permit" is not required for the Project. Following receipt of this
    confirmation, no further federal permitting issues are expected as it
    pertains to the Project site. 
    
--  On March 24, 2014, the Corporation converted its Exploration Agreement
    with the Utah State School and Institutional Land Trust Administration
    ("SITLA") into a Mining Lease. Concurrent with the exercise of the
    Option, the Corporation entered into an agreement with SITLA, whereby
    the upfront payment requirement of US$1,020,000 upon conversion was
    replaced with an initial payment of US$200,000 plus five equal semi-
    annual installments of US$164,000 commencing in March 2015. Interest
    will accrue on unpaid installments at an annual rate of 5.75%. 
    
--  The Corporation has initiated discussions with a number of independent
    engineering firms regarding the upcoming feasibility study for the
    Project. It is expected that the feasibility study contract will be
    awarded by mid-year, subject to receipt of additional financing by the
    Corporation. 
    
--  The scope of additional metallurgical test work required for the
    upcoming feasibility study has been determined and proposals are being
    obtained from metallurgical testing firms to carry out this testing
    program. The test program will include variability testing, continuous
    testing and testing at vendor facilities, with the objective of
    obtaining process guarantees. 
    
--  The Corporation is advancing discussions towards securing build, own,
    operate type arrangements for various infrastructure aspects of the
    Project, such as the electricity transmission line, a natural gas
    pipeline, short-line rail and load-out facilities, sulphuric acid plant
    and water treatment plant. 



2014 Outlook

Several initiatives are currently underway that are expected to result in the
achievement of various key milestones during 2014 and beyond




--   The Corporation continues to advance its permitting strategy:  
    
    --  The water rights application, submitted jointly with SITLA in late
        2012, is currently being reviewed by the Utah Division of Water
        Rights. The approval of this application is anticipated during the
        second quarter of 2014; 
        
    --  The Corporation filed an application for a large mining permit with
        the Utah Division of Oil, Gas and Mining in late 2013, and it is
        anticipated that the approval of the application will be received in
        mid-2014; and 
        
    --  Air monitoring data was collected over a one-year period that ended
        in October 2013. Modeling for the air permit application will
        continue in parallel with the feasibility study. 
        
--  Various commercial discussions currently underway with respect to
    infrastructure and marketing initiatives are expected to conclude with
    signing of commercial arrangements with third parties. 
    
--  The Corporation is targeting to raise approximately US$25 million for
    the feasibility study phase and near term working capital requirements.
    The Corporation currently expects that this additional funding will
    bring the development of the Project to the beginning of the execution
    phase and the commencement of detailed engineering, assuming receipt of
    a positive feasibility study. A number of strategies to raise this
    additional capital are currently being pursued. 



About Potash Ridge

Potash Ridge is a Canadian based exploration and development company focused on
developing a surface alunite deposit in southern Utah called the Blawn Mountain
Project. It is expected to produce a premium fertilizer called sulphate of
potash and a possible alumina rich by-product. 


Located in Utah, a mining friendly jurisdiction with established infrastructure
nearby, the Project is expected to produce an average of 645,000 tons of SOP per
annum over a 40 year mine life. A NI 43-101 compliant Prefeasibility Study
completed in November 2013 by Norwest Corporation demonstrated that the Project
is both technically and economically viable. The Prefeasibility Study, entitled
"NI 43-101 Technical Report Resources and Reserves of the Blawn Mountain
Project, Beaver County, Utah" dated effective November 6, 2013 is available on
SEDAR. 


Potash Ridge has a highly qualified and proven management team with significant
financial, project management and operational experience and the proven 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, 2013 available at
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.


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