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TORONTO, ONTARIO--(Marketwire - March 18, 2011) - Migao Corporation (TSX:MGO), a leading producer of specialty potash fertilizers for the Chinese market, hereby provides further comment related to the press release issued March 15, 2011 regarding an agreement for the supply of up to 500,000 tonnes of potash per year for ten years.


Migao confirms the supply agreement as contracted with Potash Export Company. The supply agreement is exclusively between Migao Corporation and Potash Export Company.


"I have enjoyed long standing successful relationships with potash suppliers for many years, personally going back nearly 20 years," said Mr. Liu Guocai, Migao's CEO. "This latest supply agreement is a very positive development for Migao in terms of securing supply and favourable economics. We will continue to source potash from our existing suppliers until this new agreement comes into effect. Further, I wish to confirm that this is an arm's length agreement."


The Board of Directors of Migao Corporation has reviewed and approved the terms of the contract and supporting documents related to the supply agreement.


Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of potassium nitrate, potassium sulphate and specialty compound fertilizers to China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit [email protected].




FOR FURTHER INFORMATION PLEASE CONTACT: Jay Hussey
Migao Corporation
Vice President Corporate Finance
416-869-1108 ext. 104
[email protected]
ORRandall Smallbone
Migao Corporation
Chief Financial Officer
416-869-1108 ext. 103
[email protected]