GSP.V · 2023-04-14 12:00:00

Gensource Potash Announces Resignation of Director

Management Changes

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

THE UNITED STATES

SASKATOON, Saskatchewan & LONDON--(BUSINESS WIRE)--April 14, 2023--Gensource

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

development company focused on sustainable potash production, announces that Mike Mueller

has resigned his position as a Director of the Company, effective today.

Mike joined the Company as a Director in July 2018 and has provided strong and consistent

oversight to the Company during his tenure, most recently serving as Chair of the Audit

Committee. Mike’s experience and leadership have provided great value to the Company and the

Company wishes to thank Mike for his service and wishes him great success in his future

endeavours.

“It has been an honor to serve on the Gensource Board of Directors. While I am stepping down

from this role, I look forward to following the Company’s future progress especially as it secures

the financing necessary to put into construction the Tugaske Project, the Company’s first

production module of what could become several on its Vanguard Area,” said Mike Mueller.

“Gensource’s modular technology represents a modern and more sustainable way to produce and

sell this critical mineral, and I unreservedly wish the Company full success.”

This change in the Company’s Board of Directors comes as the Company prepares for the next

phase of development which includes the drilling of its first production cavern, followed by

construction, ramp-up and operation of the first module at the Tugaske Project. Associated with

the financing of Tugaske, it is expected that further board changes will occur, as the Company

moves steadily towards success in its industry-changing goal with development of the Tugaske

Project. The Company is engaged in undertaking additional steps to strengthen its overall team

and value proposition in anticipation of numerous potential catalysts.

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.

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

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 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

Camarco (Financial PR)

Gordon Poole / Charlotte Hollinshead / Lily Pettifar

+44 (0) 20 3757 4997

For any press enquiries please contact us on [email protected]

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