Ethiopian Potash Receives Additional High Grade Sylvite Assays

Ethiopian Potash Corp. ("EPC" or the "Company") (TSX VENTURE:FED)(TSX VENTURE:FED.WT)(OTCQX:ETPHF) is pleased to announce that it has now received the assay results for holes 1 and 3, located in the Discovery Zone in the Southwest Corner of its Danakil Potash Project, Ethiopia.

David Wahl President and CEO stated, "We are in the unfortunate position of having to release excellent results into a soft market during tax-loss selling season, however hopefully investors can recognize the pattern of high grade sylvite (the only horizon that matters for our mining plan) over excellent widths, which should continue. With the rest of the drill results upcoming, Ethiopian Potash expects to issue a new 43-101 in the early part of Q1 2012, placing it in the exact same position as its Canadian listed peers operating in the Basin."

Hole No.                 Unit    From (m)    To (m)    Interval (m)     KCL%
                                                                            
DAL-003               Sylvite      125.00    130.90            5.90    34.39
                    including      125.00    126.50            1.50    36.66
                    including      128.40    130.90            2.50    40.56
                                                                            
                   Carnallite      130.90    142.50           11.60     6.70
                      Kainite      142.50    154.50           12.00    16.66
                                                                            
                                                                            
DAL-001               Sylvite      120.00    122.00            2.00    34.61
                                                                            
                   Carnallite      122.00    127.00            3.00    15.13
                      Kainite      127.00    132.00           12.50     0.96

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 mineralization potash development concessions in the fairway of the Danakil Depression, Ethiopia. The Company has an existing 128 mil tonne resource at 21% potash and is intent on aggressively fast-tracking its properties to production.

Contacts: Adam Chambers +1 416 907 [e-mail]