Source: See Note 1

Passport Potash is an early stage junior potash exploration company which owns a 100% interest in a potash project in the Holbrook Basin of Arizona, USA, as well as several option agreements for additional mineral properties. The company is currently in the midst of its drilling program to establish an NI 43-101 compliant resources estimate, the technical report of which should be available in June 2011.

Investment Highlights:

• • Potential for massive resource: Historic drill holes from Arkla Exploration Co. and Duval Corp. in the 1960's and 70's suggest the Holbrook Basin could contain 2.5 billion short tons (2.3 billion tonnes) of potash within a 600 sq mile (966 sq km) radius.
  • No Competition: After acquiring exploration permits and mineral properties under option from American Potash and Ringbolt Ventures, Passport Potash represents the only major new potash project in the state.
  • Acquired all necessary permits: The company has all of the necessary exploration permits to complete its planned exploration program on ~70,000 acres. The program seeks to delineate the resource by conducting a 50-line mile seismic survey and drilling ~30 exploratory holes.
  • Production three years away: Baring any surprises from the upcoming NI 43-101 technical report, management believes the resource could ultimately support a 1 - 2 million mtpy mining operation.
  • Relatively shallow resource deposit: The Holbrook potash deposit is between 800ft - 1,300ft deep (245m - 396m) which is quite shallow when compared to the Prairie Evaporite basin in Saskatchewan which can be as deep as 4,400ft (1,400m). The shallower the resource the better potential to reduce operating costs. Please see Exhibit 2 for sample drill results.
  • Location with necessary infrastructure: The Burlington Northern Santa Fe (BNSF) railway runs along the boarder of Passport Potash's permitting area, there is a major power plant in the vicinity, as well as Interstate 40. The project area is ~550 miles (885km) from the port of Long Beach (this compares with 1,600km from mines in Saskatchewan to ports in B.C.)
  • Near-term catalyst will be technical report prepared by SRK Consulting expected in June which should establish a maiden NI 43-101 resource estimate and report the assay results from the current drill program. The company will then need to prepare a pre-feasibility study (August) to determine the project economics and whether to pursue a conventional deep shaft underground mine or solution mining operation.

PPI:TSX-V: Price/Volume Chart

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Source: Thomson ONE

Company Description

Passport Potash is an early stage exploration company which owns a 100% interest in a potash project in the Holbrook Basin of Arizona, USA, as well as several mineral properties under option. The company is currently midst of its drilling program to establish an NI 43-101 compliant resources estimate, the technical report of which should be available in June 2011.