GSP.V · 2023-05-09 12:00:00

Gensource Potash Announces Granting of Stock Options

Share Capital & Compensation

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN

THE UNITED STATES

SASKATOON, Saskatchewan & LONDON--(BUSINESS WIRE)--May 9, 2023--Gensource

Potash Corporation (“Gensource” or the “Company”) (AIM/TSXV: GSP), a fertilizer

development company focused on sustainable potash production, announces that it has granted

1,000,000 stock options to a certain director of the Corporation at an exercise price of $0.125 and

are exercisable for a period of 5 years. The options were granted under the Corporation's Stock

Option Plan and each stock option entitles the holder to acquire one common share.

1 Details of the person discharging managerial responsibilities/person closely associated

a) Name Wa yne Brownlee

2 Reason for the notification

a) Position/status Non-Exectuive Director

b) Initial notification/Amendment Initial notification

3 Details of the issuer, emission allowance market participant, auction

platform, auctioneer or auction monitor

a) Name Gensource Potash Corporation

b) LEI 213800WAVVOPS85N2205

4 Details of the transaction(s): section to be repeated for (i) each type of

instrument; (ii) each type of transaction; (iii) each date; and (iv) each

place where transactions have been conducted

a) Description of the financial instrument, type of instrument

Identification code

Gensource Potash Corp Common

ISIN: CA3725X1042

b) Nature of the transaction I ssue of share options under

Company Stock Options Plan

c) Price(s) and volume(s) Price

$0.125

Volume

1,000,000

d) Aggregated information

- Aggregated volume

- Price

Same as above

e) Date of the transaction Ma y 8, 2023

f) Place of the transaction TSX-V Exchan ge

As a result, Wayne Brownlee’s total beneficial interest in the Company is Nil Common Shares,

representing 0 percent of the Company's issued share capital.

Further information on Gensource Potash Corporation can be found at www.gensourcepotash.ca

About Gensource

Gensource is a fertilizer development company based in Saskatoon, Saskatchewan and is on

track to become the next fertilizer production company in that province. With a modular and

environmentally leading approach to potash production, Gensource believes its technical and

business model will be the future of the industry. Gensource operates under a business plan that

has two key components: (1) vertical integration with the market to ensure that all production

capacity built is directed, and pre-sold, to a specific market, eliminating market-side risk; and (2)

technical innovation which will allow for a modular and economic potash production facility,

that demonstrates environmental leadership within the industry, producing no salt tailings,

therefore eliminating decommissioning risk, and requiring no surface brine ponds, thereby

removing the single largest and negative environmental aspect of potash mining.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the

adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This news release may contain forward looking information and Gensource cautions readers that

forward- looking information is based on certain assumptions and risk factors that could cause

actual results to differ materially from the expectations of Gensource included in this news

release. This news release includes certain “forward-looking statements”, which often, but not

always, can be identified by the use of words such as “believes”, “anticipates”, “expects”,

“estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on

information currently available to Gensource and Gensource provides no assurance that actual

results will meet management’s expectations.

Forward looking statements include estimates and statements with respect to Gensource’s future

plans, objectives or goals, to the effect that Gensource or management expects a stated condition

or result to occur, including any offering of securities by Gensource. Since forward-looking

statements are based on assumptions and address future events and conditions, by their very

nature they involve inherent risks and uncertainties. Actual results could differ materially from

those currently anticipated in such statements for many reasons such as: failure to receive final

approval of the TSX Venture Exchange and any other approvals for the extension of the

Promissory Note; failure to finance the Tugaske Project or other projects on terms which are

economic or at all; failure to settle a definitive joint venture agreement with a party and advance

and finance the Tugaske Project; changes in general economic conditions and conditions in the

financial markets; the ability to find and source off-take agreements; changes in demand and

prices for potash; litigation, legislative, environmental and other judicial, regulatory, political

and competitive developments; technological and operational difficulties encountered in

connection with Gensource’s activities; an inability to predict and counteract the effects of

COVID-19 on the business of Gensource, including but not limited to the effects of COVID-19

on the price of commodities, capital market conditions, restriction on labour and international

travel and supply chains, failure to obtain required regulatory approvals; and other matters

discussed in this news release and in filings made with securities regulators. This list is not

exhaustive of the factors that may affect any of Gensource’s forward-looking statements. These

and other factors should be considered carefully, and readers should not place undue reliance on

Gensource’s forward-looking statements. Gensource does not undertake to update any forward-

looking statement that may be made from time to time by Gensource or on its behalf, except in

accordance with applicable securities laws.

Contacts

For further information on Gensource Potash, please contact:

Gensource Potash Corporation

Mike Ferguson – President & CEO

+1-306-974-6414

Strand Hanson Limited (Nominated & Financial Adviser)

Ritchie Balmer / Rory Murphy / Charles Hammond

+44 (0) 20 7409 3494

Peel Hunt LLP (Broker)

Ross Allister / David McKeown / Georgia Langoulant

+44 (0) 20 7418 8900

For any press enquiries please contact Gensource at 306-974-6414.

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