Allana Potash Inc. (TSX: AAA) Announces Mineral Resource by 24hgold

Mots clés associés : Canada | Depression | K Street |

Allana Announces Mineral Resource Update: Measured + Indicated Mineral Resources Increase By over 90%

May 1, 2012

Investor Cubed is pleased to forward a news release on behalf of Allana Potash Corp. (TSX: AAA) highlighting the following:

Allana Potash is pleased to announce that it has received an updated National Instrument 43-101 compliant mineral resource estimate from ERCOSPLAN on its Danakil Potash Project in Ethiopia.
The Measured and Indicated mineral resource estimate totals 1,297,529,000 tonnes with an average grade of 19.32% KCl, representing approximately 250 million tonnes of KCl.
- This is more than a 90% increase over the June 2011 Measured and Indicated mineral resource estimate of 673 Million tonnes at an average grade of 18.65% KCl, and close to a doubling of the KCl tonnes in these resource categories.
In addition to the strong increase in measured and indicated mineral resources, the inferred mineral resource estimate for all four potash units is an additional 588,150,000 tonnes grading 18.56% KCl.

"We are excited to see the large increase in total resources on the project and the significant conversion of inferred mineral resources into measured and indicated mineral reserves. The exploration drill campaign over the past 11 months accomplished its twin goals of converting inferred mineral resources to measured and indicated mineral resources and adding significantly to the total project resource base. An over 90% increase in the measured and indicated mineral resource estimate supports management's belief that the Danakil Depression has the potential to become a world class potash basin. This new expanded resource will form the basis for the Company's Feasibility Study going forward. Exploration drilling will continue on the project to expand the resources and better define the distribution of potash in the basin."

- Farhad Abasov, President and CEO

To read the full news release please click here.

If you have any questions or would like to meet with Allana's management team, please contact Investor Cubed at

647 258 3311 or info@investor3.ca.

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Allana Potash Corp.

Investor Cubed Inc.

About Allana Potash

Allana Potash is a Canadian publicly traded corporation with a focus on the international acquisition and development of potash assets and is currently developing a previously explored potash property in Ethiopia, the Dallol Potash Project.

Allana has secured financial support from two significant strategic investors: IFC, a member of the World Bank Group, and Liberty Metals and Mining Holdings, LLC, a subsidiary of Liberty Mutual Group.

Neil Simon, CEO

Investor Cubed Inc.

647.258.3311

nsimon@investor3.ca

Alan Huycke, President

Investor Cubed Inc.

647.258.3311

ahuycke@investor3.ca

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