Saskatchewan Potash Basin

Exploration, evaluation and potential development of two subsurface potash permit areas.

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Potash North Resource Corp Profile

Potash North Resource Corporation Vancouver, B.C., TSX : PON; is a junior resource company focused exclusively on the exploration, evaluation and potential development of two subsurface potash permit areas (KP416 and KP417) in the Saskatchewan Potash Basin. Located immediately adjacent to Mosaic Company's Esterhazy operations and 45km North of Potash Corp.'s Rocanville Mine, the Company’s permit areas are well situated in one of Saskatchewan’s most established potash producing regions.

The market power held by producers within Saskatchewan, Canada is quite substantial, as Saskatchewan produces approximately 34% of the world's potash and hosts over 50% of the globe’s potash reserves.

Despite challenging market conditions, Potash North’s established $30 million financial position allows the company to advance its exploration efforts.

Potash North's management and directors have extensive experience developing successful junior mining projects. This team of experts has been responsible for establishing several mineral exploration companies, bringing a wealth of technical talent to the team. Management's demonstrated ability of raising capital and securing industry leading exploration contracts are key in realizing Potash North's full potential

Saskatchewan is the epicenter of global potash production and is home to three of the world's leading producers (Mosaic Co., Potash Corp., Agrium). Because of its long history of potash mining, Saskatchewan has the infrastructure, government policies and experienced labor force to support growth within the potash industry.

Saskatchewan retains over 50% of global potash reserves and the flat dry ore bodies make extraction a relatively easy process. The consistent geology is conducive to defining potash deposits with relatively few drill holes when accompanied by 2D and 3D seismic survey coverage.

POTASH NORTH SIGNIFICANT SHAREHOLDER

Potash North's largest shareholder is Potash One Inc. (KCL-TSX),. Its ownership was obtained through the subscription of 6,583,850 Units in the private placement announced on May 12, 2008. Each unit comprised of one full share and one full warrant.Its ownership was obtained through the subscription of 6,583,850 Units in the private placement announced on May 12, 2008. Each unit comprised of one full share and one full warrant.

Potash One Inc. is advancing it's Legacy Potash Project in Saskatchewan, which surrounds the largest potash solution mine in the world, Mosaic's Belle Plaines Solution Mine. The 336,000-acre potash permits are situated in the South Western part of the Saskatchewan Potash Basin. Historical pilot tests have suggested the Legacy Potash Project is amenable to solution mining.



Last changed at 04-Feb-2009 06:31AM by AGORACOM