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Driven by a
Proven Management Team
TSX	
  :	
  PRK	
  
OTCQX	
  :	
  POTRF	
  
May	
  2014	
  
FORWARD LOOKING STATEMENTS
2
Certain statements in this presentation may constitute "forward-looking" statements which involve
known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Potash Ridge Corporation (the "Corporation"), or industry results, to
be materially different from any future results, performance or achievements expressed or implied by
such forward-looking statements. When used in this presentation, such statements use such words
as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate" and other
similar terminology. These statements reflect the Corporation's current expectations regarding future
events and operating performance and speak only as of the date of this presentation. Forward-looking
statements involve significant risks and uncertainties, which include, but are not limited to the factors
discussed under “A Cautionary Note Regarding Forward Looking Statements” and "Risk Factors" in
the Corporation’s Annual Information Form dated March 27, 2013, and should not be read as
guarantees of future performance or results, and will not necessarily be accurate indications of
whether or not such results will be achieved. Although the forward-looking statements contained in
this presentation are based upon what management of the Corporation believes are reasonable
assumptions, the Corporation cannot assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made as of the date of this
presentation and are expressly qualified in their entirety by this cautionary statement. Subject to
applicable securities laws, the Corporation assumes no obligation to update or revise them to reflect
new events or circumstances.
Focused on near term sulphate of
potash (“SOP”) production at its
Blawn Mountain property in Utah
3
SOP 645,000 tons average per annum
40 year Project Life backed by reserves
EXPERIENCED AND PROVEN MANAGEMENT
OVER 80 YEARS COMBINED EXPERIENCE
Guy Bentinck President & CEO
Chartered Accountant;
20 years mining/resource experience
Sherritt: CFO and SVP Capital Projects
Ross Phillips Chief Operating Officer
10 years experience in large resource and
energy sector projects
Sherritt, Capital Power	
  
Jeff Hillis Chief Financial Officer
Chartered Accountant;
10 years mining sector finance, including CFO
of several public mining companies
Iberian Minerals, Excellon, Falconbridge
	
  
Paul Hampton VP, Project
Management
Geologist and Metallurgical Engineer;
~30 years experience in design, construction,
start-up and management of mineral processing
facilities
SNC, Washington Group, Outotec
4
Laura Nelson VP, Government and
Regulatory Affairs
Extensive experience in government relations,
permitting and power planning, including the
successful permitting a large mine in Utah
Red Leaf Resources, Utah Government	
  
COMPETITIVE ADVANTAGES
40 year mine life, with mineral reserves of 426 million tons of ore
Large mineral deposit containing premium-quality potash and alumina rich material	
  
645,000 tons of SOP per annum over life of mine
Mining friendly jurisdiction, established infrastructure nearby, designated
development lands and efficient state permitting
PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR;
excludes potential revenue from alumina rich material
Historical work expedites project development; proven production process
Lower risk surface mining deposit; expected low cost producer
5
POTASH OVERVIEW
6
No known substitute
Increasing world population
Growing per capita income
Decreasing arable land
Increasing use of biofuels
POTASH WORLD DEMAND +5% EXPECTED ANNUAL
DEMAND TO 2016; SOP HIGHER GROWTH POTENTIAL
POTASH:
ESSENTIAL TO THE WORLD’S FOOD SUPPLY
7
POTASSIUM AND SULPHUR ARE ESSENTIAL NUTRIENTS
SOP: PREMIUM FERTILIZER
Sulphate of Potash
(SOP)
Muriate of Potash
(MOP)
50% K2O Equivalent 60% K2O Equivalent
17% S 0% S
<1.0% Cl 45% Cl
4.8 million tonnes sold in 20131 50 million tonnes sold in 20131
Improves yield, quality, taste
and enhances shelf life1
Crop quality/yield diminish as
chloride builds up1
1 CRU 20138
Chemical makeup assumes 92.5% K2SO4 and 95% KCl product
* Within target market
Consumption of
SOP restricted by
limited production
capacity, with little
expansion potential
SOP share of potash
market:
Current: 5 Mt
Potential: 10-12 Mt*
Trend toward high
nutrient fertilizers
Trend towards pricing of
SOP based on
incremental revenue
through yield/quantity
improvements vs.
premiums over MOP
SOP – A DISTINCT & VALUABLE
POTASH PRODUCT
Fruits
Vegetables
Nuts
Horticultural Plants
Tobacco
Tea
Coffee
Dry/Salty soil
Especially valued for chloride sensitive crops,
SOP improves yields on high value crops such as:
9
SOP MARKET DYNAMICS
1CRU 201310
Europe
24%
N.
America
7%
C & S
America
6%
China
49%
Africa
5% RoW
9%
SOP Consumption by Region	
  
Region
Process
Method
World
Capacity
Process Inputs Products
Avg
Cost /
Ton1
Future
Outlook
China/
Europe Mannheim
2.3Mt
43%
¡ MOP ¡ SOP
$453
High Cost/
by-product
limits
growth
¡ Sulfuric Acid
¡ Hydrochloric
Acid
¡ Energy 	
  	
  
Europe
MOP and
Kieserite
1.2Mt
22%
¡ MOP ¡ SOP
$440
No
additional
deposits
¡ Kieserite
¡ Magnesium
Chloride
¡ Energy 	
  	
  
China/
USA/
Chile
Salt Lakes
1.9Mt
35%
¡ Lake Brines ¡ SOP
$381
No
additional
suitable
lakes
¡ Energy
¡ Magnesium
Chloride
	
  	
   ¡ Sodium Chloride
Existing SOP Production by Process	
  
New sources of SOP from these existing
processes are unlikely due to lack of
primary sources and difficulties
surrounding secondary source production.	
  
CRU predicts SOP consumption
of 9,500,000 tonnes per annum
by 2019 – where will this
production come from?	
  
 -­‐	
  	
  	
  	
  
	
  200.0	
  	
  
	
  400.0	
  	
  
	
  600.0	
  	
  
	
  800.0	
  	
  
	
  1,000.0	
  	
  
	
  1,200.0	
  	
  
Q1	
   Q2	
   Q3	
   Q4	
   Q1	
   Q2	
   Q3	
   Q4	
   Q1	
   Q2	
   Q3	
   Q4	
   Q1	
   Q2	
   Q3	
   Q4	
   Q1	
   Q2	
   Q3	
   Q4	
   Q1	
   Q2	
   Q3	
   Q4	
   Q1	
   Q2	
   Q3	
   Q4	
   Q1	
  
2007	
   2008	
   2009	
   2010	
   2011	
   2012	
   2013	
   2014	
  
POT	
  -­‐	
  North	
  America	
  (MOP)	
  
CMP	
  -­‐	
  (SOP)	
  
CURRENT PREMIUM 145% FOR SOP IN US
SOP PREMIUM PRICE TRENDS
U.S. $/tonne
11 1	
  Compass	
  Minerals	
  Q1	
  2014	
  Report,	
  2	
  Potash	
  Corp	
  Q1	
  2014	
  Report	
  
Compass Q1/14 realized price $670/tonne1
Potash Corp Q1/14 realized price $250/tonne2
Recent quotes from blenders in Uberaba, Brazil $1,110/tonne
SIGNIFICANT GROWTH POTENTIAL
EASY ACCESS TO LOCAL MARKETS
SOP MARKET TARGETS
12 1 CRU 2013
2 From PRK Study August 2013, based on crops that are best suited for SOP
United States
SOP consumption: 385,000 tons1
Potential consumption: 920,000 tons2
Large scale production of chloride intolerant crops such as nuts in California
and citrus fruits in Florida drive a large part of US SOP demand. Consumption
of these crops continues – e.g. Almond crops have grown by 7% per year
since the mid 1990s.
Brazil
SOP consumption: 42,000 tons per year2 (0.4% of total potash
consumption)
Potential consumption: 2.1 million tons2
Brazil is the world’s largest grower of coffee, soybeans and citrus fruits, all
SOP crops. Low consumption is entirely due to lack of SOP availability.
China
SOP consumption 2.5 million tons per year1
Potential consumption: 5.5 million tons per year2
China produces close to half of the world’s fruits and vegetables, and nearly
one-third of the world’s tobacco and tea. SOP consumption almost doubled
between 2007 and 20121, with large untapped growth potential.
THE BLAWN MOUNTAIN PROJECT
13
ANTICIPATED INITIAL PRODUCTION IN 2017
PROJECT OVERVIEW
14
Large alunite deposit, which is expected to be
processed into SOP, and possible alumina rich
material
Average 645,000 tons of SOP per annum
Historical work expedites project development
Mineral deposit to be surface mined
Proven process backed by extensive metallurgical
testing
ORE TEST PIT
15	
  
ALMOST 100 YEARS OF POTASH PRODUCTION
UTAH: AN ATTRACTIVE
MINING JURISDICTION
1Forbes Magazine, December, 2012 2Fraser Institute, April, 2013
Major resource producer
Existing potash production
Best state for business1
Top quartile mining jurisdiction2
16
OUR LAND ADVANTAGE
State-owned land designated for
development
Efficient permitting process
Leasehold and royalty agreements
negotiated
No known adverse environmental or
social issues
Sufficient water nearby – rights
application made
Roads, rail, transmission and natural gas
nearby
Construction materials, equipment
suppliers and skilled labour force
17
MUNICIPAL AND STATE SUPPORT OF PROJECT
PREVIOUS WORK ACCELERATES PROJECT DEVELOPMENT
EXTENSIVE DEVELOPMENT COMPLETED IN 1970’s
18
•  Approximately $25 million spent (~$100 million
in today’s dollars).
•  Programs included:
Drilling, Resource estimate, Feasibility
Study, mine plan, Engineering,
Permitting and 3-year operation of a
pilot plant processing up to 11 tons
per day.
•  Alumina originally primary product;
SOP was by-product
•  Project ultimately shelved due to poor
economic conditions in early 1980s
•  Potash Ridge owns all historical data
SIMPLE PROVEN FLOWSHEET
Alunite
Calcination
Water Leach
Alumina Rich Material
SOP Solution
Crystallizing Drying,
Compacting & Sizing
SOP
SO2
Acid Plant Sulphuric Acid
19
Flowsheet similar to commercial-scale production
processes historically used in US, Australia and Azerbaijan.
RECENT EXTENSIVE TEST WORK CONFIRMS FLOWSHEET
•  Plant to process 10.4 million tons per annum
•  Metallurgical testing on-going for Feasibility Study
Crushing & Grinding
PREFEASIBILITY STUDY – SUMMARY
•  Proven & Probable mineral reserves of 426 million tons;
•  Reserves support 40 year mine life, with potential to increase life of operations through
exploration of two additional zones of known mineralization;
•  Project after tax Net Present Value (“NPV”) of $1.0 billion using a 10% discount rate:
•  Total sales of 26 million tons of SOP over life of mine;
•  Unlevered after tax internal rate of return (“IRR”) of 20.5%; payback period of 5 years
after commencement of operations;
•  Strong cash flow generation with cash flow from operations of $234 million per annum
excluding the two year ramp up period;
•  Approximately 28% of direct capital costs are supported by packaged quotes
1Inclusive of by-product acid revenues and exclusive of royalties; no credit assumed for potential
revenue from the sale of alumina rich material.
20
Economic Indicators
NPV (after tax, at 10%) $1.0 billion
IRR (after tax) 20.5%
Payback period (from commencement of operations) 5 years
Average annual SOP production 645,000 tons
Average annual sulphuric acid production 1,440,000 tons
SOP price (average) $649/ton
Sulphuric acid price (average) $135/ton
Project life 40 years
Initial capital cost (including 15% contingency) $1,124 million
Operating cost (excluding royalties) $173/ton SOP
The economic evaluation is based on
the following assumptions:
•  Site construction commences late
2015;
•  Production ramp-up over 2 years
(2017-2018), reaching full
production in 2019;
•  SOP pricing from CRU forecast
below current North American
SOP prices;
•  Average tax rate of 35%.
SOP CAPITAL COST BREAKDOWN1
21
CAPITAL	
  COST:	
  $1.124	
  billion	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (15%	
  con9ngency)	
  
14%	
  	
  
	
  SOP	
  Leaching,	
  	
  
CrystallizaQon	
  	
  
and	
  Drying	
  
42%	
  	
  
CalcinaQon	
  13%	
  	
  
Crushing	
  &	
  
Grinding	
  
31%	
  	
  	
  
ConQngency,	
  
Indirects	
  and	
  
Infrastructure	
  
1 Excludes utilities and other infrastructure
not incurred by Potash Ridge ($641 million):
Build-own-operate arrangements
under negotiation.
Acid Plant ($280 million)
Natural Gas Line ($83 million)
Water Treatment Plant ($60 million)
Expect to access government
funding programs
Rail Spur ($76 million)
Access road ($53 million)
To be incurred by Mine Contractor Mine Capital ($89 million)
OPERATING COSTS: $173/TON OF SOP
22
7%	
  	
  
Other	
  	
  
($14M)	
  
14%	
  
RoyalQes	
  
($33M)	
  
Excludes	
  credit	
  for	
  potenQal	
  alumina	
  rich	
  material	
  revenue.	
  
Includes	
  15%	
  conQngency	
  (excluding	
  non-­‐energy	
  and	
  labour	
  costs).	
  
	
  	
  	
  
Total Cash Production Costs
Annual Average
Cost($)/Ton SOP
(Constant 2013 $US)
Direct Plant and Mine Cash Production
Cost
$414
Credit for Value of Acid $(302)
Subtotal of Direct Plant and Mine Cash
Production Cost
$112
Site G&A, Property Taxes & Corporate
Overhead
$27
3rd Party Facility Charges $34
Total before royalty $173
Royalties $45
Total Cash Production Cost $218
Potash Ridge Salt Lakes MOP/ Sulphate
Salts
Mannheim
Process
Cash Production Costs
Avg Cost/Ton
$381
$440
$453
$173
Potash Ridge
Expected In Production
1 CRU 2013
1
1 1
PREFEASIBILITY STUDY –
RESERVES ESTABLISHED
Drilling to date has focused
only on two of the four areas
within the 15,400 acre land
parcel
Supports 40 years of
operations
Reserves demonstrate the
economic and technical
viability of the Project
23
Reserve Category
Total
Proven
('000 tons)
Probable
('000 tons)
Alunite Ore (ROM tons) 136,254 289,540 425,794
Ore (average K2O (%) grade) 3.56 3.49 3.51
Ore (average K2SO4 (%) grade) 6.59 6.46 6.49
SOP (tons) 8,457 17,970 26,427
Sulphuric Acid (tons) @ 98% Purity 18,888 40,136 59,024
Mineral Reserves by Category November 6, 2013	
  
SULPHURIC ACID
24
Driven by local US Market – prices dependent on supply and proximity
Mountain West US market approximately 5.6 million tons per annum
Expected increase in this market from mine expansions and new mine development
Potash Ridge will provide stable supply to consumers
MOU in place for 20% of acid production
•  Leaching process leaves alumina rich material which, with beneficiation, may be used as
a substitute to bauxite as a feedstock into a Bayer alumina production facility.
•  Metallurgical testing confirmed the alumina in this material is soluble in high temperature
caustic solutions
•  May also be acceptable as a raw material feed for low temperature refineries
•  Further testing is underway to determine whether the alumina rich material could meet
specifications for feed material in the production of ceramic proppants in North America.
•  PFS economics do not include revenue from the sale of alumina rich material
25
UPSIDE POTENTIAL FROM LEACH RESIDUE
SOURCES OF SMELTER FEED TO CHINA
Blawn
Mountain,
Utah
Boke,
Guinea
Trombetas,
Brazil
Kingston,
Jamaica
Distance to Shandong Province, China (nm) 5,744 11,128 10,815 9,051
Port Long Beach Conakry Aratu Jamaica
MILESTONES
26
EXPECTED
43-101 Measured and Indicated Resource to support 30-year mine life
Issue Preliminary Economics Assessment
Commence metallurgical test program
Commence Pilot Plant Test work & produce SOP from test work
Complete baseline environmental surveys
Issue Prefeasibility Study supporting 40-year mine live
Submit Large Mining Permit Application
Complete metallurgical test program
Water Rights application approval
Air Quality Permit filed
Large Mining Permit approval
Issue Feasibility Study
Receive final permits
Construction start up
Ramp up
a
a
a
a
a
a
a
2017
End 2015
End 2015
Early-Mid
2015
Q2 2014
End 2014
Q3 2014
Note: Timelines are based on obtaining sufficient financing to advance Feasibility Study
2014 to End
2015
CAPITAL STRUCTURE
27
Millions
Common Shares 81.7
Non-voting Common Shares 5.0
Total Shares Outstanding 86.7
Warrants – $ 0.50 10.7
Warrants – $1.00 5.0
Broker options/warrants 3.4
Stock options 7.0
Total Fully Diluted Shares 112.9
As at December 31, 2013
INSIDERS HOLD 5%, 10% FULLY DILUTED
COMPETITIVE ADVANTAGES
40 year mine life, with mineral reserves of 426 million tons of ore
Large mineral deposit containing premium-quality potash and alumina rich material	
  
645,000 tons of SOP per annum over life of mine
Mining friendly jurisdiction, established infrastructure nearby, designated
development lands and efficient state permitting
PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR;
excludes potential revenue from alumina rich material
Historical work expedites project development; proven production process
Lower risk surface mining deposit; expected low cost producer
28
CONTACT US
29
Toronto office:
3 Church Street, Suite 600
Toronto, Ontario
M5E 1M2
Phone: 416-362-8640 ext 101
Salt Lake City office:
170 S. Main Street, Suite 500
Salt Lake City, UT
80101
Phone: 801-433-6027
www.potashridge.com
info@potashridge.com

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Presentation may 2014

  • 1. Premium Potash Project Driven by a Proven Management Team TSX  :  PRK   OTCQX  :  POTRF   May  2014  
  • 2. FORWARD LOOKING STATEMENTS 2 Certain statements in this presentation may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Potash Ridge Corporation (the "Corporation"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this presentation, such statements use such words as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate" and other similar terminology. These statements reflect the Corporation's current expectations regarding future events and operating performance and speak only as of the date of this presentation. Forward-looking statements involve significant risks and uncertainties, which include, but are not limited to the factors discussed under “A Cautionary Note Regarding Forward Looking Statements” and "Risk Factors" in the Corporation’s Annual Information Form dated March 27, 2013, and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. Although the forward-looking statements contained in this presentation are based upon what management of the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this presentation and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Corporation assumes no obligation to update or revise them to reflect new events or circumstances.
  • 3. Focused on near term sulphate of potash (“SOP”) production at its Blawn Mountain property in Utah 3 SOP 645,000 tons average per annum 40 year Project Life backed by reserves
  • 4. EXPERIENCED AND PROVEN MANAGEMENT OVER 80 YEARS COMBINED EXPERIENCE Guy Bentinck President & CEO Chartered Accountant; 20 years mining/resource experience Sherritt: CFO and SVP Capital Projects Ross Phillips Chief Operating Officer 10 years experience in large resource and energy sector projects Sherritt, Capital Power   Jeff Hillis Chief Financial Officer Chartered Accountant; 10 years mining sector finance, including CFO of several public mining companies Iberian Minerals, Excellon, Falconbridge   Paul Hampton VP, Project Management Geologist and Metallurgical Engineer; ~30 years experience in design, construction, start-up and management of mineral processing facilities SNC, Washington Group, Outotec 4 Laura Nelson VP, Government and Regulatory Affairs Extensive experience in government relations, permitting and power planning, including the successful permitting a large mine in Utah Red Leaf Resources, Utah Government  
  • 5. COMPETITIVE ADVANTAGES 40 year mine life, with mineral reserves of 426 million tons of ore Large mineral deposit containing premium-quality potash and alumina rich material   645,000 tons of SOP per annum over life of mine Mining friendly jurisdiction, established infrastructure nearby, designated development lands and efficient state permitting PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR; excludes potential revenue from alumina rich material Historical work expedites project development; proven production process Lower risk surface mining deposit; expected low cost producer 5
  • 7. No known substitute Increasing world population Growing per capita income Decreasing arable land Increasing use of biofuels POTASH WORLD DEMAND +5% EXPECTED ANNUAL DEMAND TO 2016; SOP HIGHER GROWTH POTENTIAL POTASH: ESSENTIAL TO THE WORLD’S FOOD SUPPLY 7
  • 8. POTASSIUM AND SULPHUR ARE ESSENTIAL NUTRIENTS SOP: PREMIUM FERTILIZER Sulphate of Potash (SOP) Muriate of Potash (MOP) 50% K2O Equivalent 60% K2O Equivalent 17% S 0% S <1.0% Cl 45% Cl 4.8 million tonnes sold in 20131 50 million tonnes sold in 20131 Improves yield, quality, taste and enhances shelf life1 Crop quality/yield diminish as chloride builds up1 1 CRU 20138 Chemical makeup assumes 92.5% K2SO4 and 95% KCl product * Within target market Consumption of SOP restricted by limited production capacity, with little expansion potential SOP share of potash market: Current: 5 Mt Potential: 10-12 Mt* Trend toward high nutrient fertilizers Trend towards pricing of SOP based on incremental revenue through yield/quantity improvements vs. premiums over MOP
  • 9. SOP – A DISTINCT & VALUABLE POTASH PRODUCT Fruits Vegetables Nuts Horticultural Plants Tobacco Tea Coffee Dry/Salty soil Especially valued for chloride sensitive crops, SOP improves yields on high value crops such as: 9
  • 10. SOP MARKET DYNAMICS 1CRU 201310 Europe 24% N. America 7% C & S America 6% China 49% Africa 5% RoW 9% SOP Consumption by Region   Region Process Method World Capacity Process Inputs Products Avg Cost / Ton1 Future Outlook China/ Europe Mannheim 2.3Mt 43% ¡ MOP ¡ SOP $453 High Cost/ by-product limits growth ¡ Sulfuric Acid ¡ Hydrochloric Acid ¡ Energy     Europe MOP and Kieserite 1.2Mt 22% ¡ MOP ¡ SOP $440 No additional deposits ¡ Kieserite ¡ Magnesium Chloride ¡ Energy     China/ USA/ Chile Salt Lakes 1.9Mt 35% ¡ Lake Brines ¡ SOP $381 No additional suitable lakes ¡ Energy ¡ Magnesium Chloride     ¡ Sodium Chloride Existing SOP Production by Process   New sources of SOP from these existing processes are unlikely due to lack of primary sources and difficulties surrounding secondary source production.   CRU predicts SOP consumption of 9,500,000 tonnes per annum by 2019 – where will this production come from?  
  • 11.  -­‐          200.0      400.0      600.0      800.0      1,000.0      1,200.0     Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   2007   2008   2009   2010   2011   2012   2013   2014   POT  -­‐  North  America  (MOP)   CMP  -­‐  (SOP)   CURRENT PREMIUM 145% FOR SOP IN US SOP PREMIUM PRICE TRENDS U.S. $/tonne 11 1  Compass  Minerals  Q1  2014  Report,  2  Potash  Corp  Q1  2014  Report   Compass Q1/14 realized price $670/tonne1 Potash Corp Q1/14 realized price $250/tonne2 Recent quotes from blenders in Uberaba, Brazil $1,110/tonne
  • 12. SIGNIFICANT GROWTH POTENTIAL EASY ACCESS TO LOCAL MARKETS SOP MARKET TARGETS 12 1 CRU 2013 2 From PRK Study August 2013, based on crops that are best suited for SOP United States SOP consumption: 385,000 tons1 Potential consumption: 920,000 tons2 Large scale production of chloride intolerant crops such as nuts in California and citrus fruits in Florida drive a large part of US SOP demand. Consumption of these crops continues – e.g. Almond crops have grown by 7% per year since the mid 1990s. Brazil SOP consumption: 42,000 tons per year2 (0.4% of total potash consumption) Potential consumption: 2.1 million tons2 Brazil is the world’s largest grower of coffee, soybeans and citrus fruits, all SOP crops. Low consumption is entirely due to lack of SOP availability. China SOP consumption 2.5 million tons per year1 Potential consumption: 5.5 million tons per year2 China produces close to half of the world’s fruits and vegetables, and nearly one-third of the world’s tobacco and tea. SOP consumption almost doubled between 2007 and 20121, with large untapped growth potential.
  • 13. THE BLAWN MOUNTAIN PROJECT 13
  • 14. ANTICIPATED INITIAL PRODUCTION IN 2017 PROJECT OVERVIEW 14 Large alunite deposit, which is expected to be processed into SOP, and possible alumina rich material Average 645,000 tons of SOP per annum Historical work expedites project development Mineral deposit to be surface mined Proven process backed by extensive metallurgical testing
  • 16. ALMOST 100 YEARS OF POTASH PRODUCTION UTAH: AN ATTRACTIVE MINING JURISDICTION 1Forbes Magazine, December, 2012 2Fraser Institute, April, 2013 Major resource producer Existing potash production Best state for business1 Top quartile mining jurisdiction2 16
  • 17. OUR LAND ADVANTAGE State-owned land designated for development Efficient permitting process Leasehold and royalty agreements negotiated No known adverse environmental or social issues Sufficient water nearby – rights application made Roads, rail, transmission and natural gas nearby Construction materials, equipment suppliers and skilled labour force 17 MUNICIPAL AND STATE SUPPORT OF PROJECT
  • 18. PREVIOUS WORK ACCELERATES PROJECT DEVELOPMENT EXTENSIVE DEVELOPMENT COMPLETED IN 1970’s 18 •  Approximately $25 million spent (~$100 million in today’s dollars). •  Programs included: Drilling, Resource estimate, Feasibility Study, mine plan, Engineering, Permitting and 3-year operation of a pilot plant processing up to 11 tons per day. •  Alumina originally primary product; SOP was by-product •  Project ultimately shelved due to poor economic conditions in early 1980s •  Potash Ridge owns all historical data
  • 19. SIMPLE PROVEN FLOWSHEET Alunite Calcination Water Leach Alumina Rich Material SOP Solution Crystallizing Drying, Compacting & Sizing SOP SO2 Acid Plant Sulphuric Acid 19 Flowsheet similar to commercial-scale production processes historically used in US, Australia and Azerbaijan. RECENT EXTENSIVE TEST WORK CONFIRMS FLOWSHEET •  Plant to process 10.4 million tons per annum •  Metallurgical testing on-going for Feasibility Study Crushing & Grinding
  • 20. PREFEASIBILITY STUDY – SUMMARY •  Proven & Probable mineral reserves of 426 million tons; •  Reserves support 40 year mine life, with potential to increase life of operations through exploration of two additional zones of known mineralization; •  Project after tax Net Present Value (“NPV”) of $1.0 billion using a 10% discount rate: •  Total sales of 26 million tons of SOP over life of mine; •  Unlevered after tax internal rate of return (“IRR”) of 20.5%; payback period of 5 years after commencement of operations; •  Strong cash flow generation with cash flow from operations of $234 million per annum excluding the two year ramp up period; •  Approximately 28% of direct capital costs are supported by packaged quotes 1Inclusive of by-product acid revenues and exclusive of royalties; no credit assumed for potential revenue from the sale of alumina rich material. 20 Economic Indicators NPV (after tax, at 10%) $1.0 billion IRR (after tax) 20.5% Payback period (from commencement of operations) 5 years Average annual SOP production 645,000 tons Average annual sulphuric acid production 1,440,000 tons SOP price (average) $649/ton Sulphuric acid price (average) $135/ton Project life 40 years Initial capital cost (including 15% contingency) $1,124 million Operating cost (excluding royalties) $173/ton SOP The economic evaluation is based on the following assumptions: •  Site construction commences late 2015; •  Production ramp-up over 2 years (2017-2018), reaching full production in 2019; •  SOP pricing from CRU forecast below current North American SOP prices; •  Average tax rate of 35%.
  • 21. SOP CAPITAL COST BREAKDOWN1 21 CAPITAL  COST:  $1.124  billion                      (15%  con9ngency)   14%      SOP  Leaching,     CrystallizaQon     and  Drying   42%     CalcinaQon  13%     Crushing  &   Grinding   31%       ConQngency,   Indirects  and   Infrastructure   1 Excludes utilities and other infrastructure not incurred by Potash Ridge ($641 million): Build-own-operate arrangements under negotiation. Acid Plant ($280 million) Natural Gas Line ($83 million) Water Treatment Plant ($60 million) Expect to access government funding programs Rail Spur ($76 million) Access road ($53 million) To be incurred by Mine Contractor Mine Capital ($89 million)
  • 22. OPERATING COSTS: $173/TON OF SOP 22 7%     Other     ($14M)   14%   RoyalQes   ($33M)   Excludes  credit  for  potenQal  alumina  rich  material  revenue.   Includes  15%  conQngency  (excluding  non-­‐energy  and  labour  costs).         Total Cash Production Costs Annual Average Cost($)/Ton SOP (Constant 2013 $US) Direct Plant and Mine Cash Production Cost $414 Credit for Value of Acid $(302) Subtotal of Direct Plant and Mine Cash Production Cost $112 Site G&A, Property Taxes & Corporate Overhead $27 3rd Party Facility Charges $34 Total before royalty $173 Royalties $45 Total Cash Production Cost $218 Potash Ridge Salt Lakes MOP/ Sulphate Salts Mannheim Process Cash Production Costs Avg Cost/Ton $381 $440 $453 $173 Potash Ridge Expected In Production 1 CRU 2013 1 1 1
  • 23. PREFEASIBILITY STUDY – RESERVES ESTABLISHED Drilling to date has focused only on two of the four areas within the 15,400 acre land parcel Supports 40 years of operations Reserves demonstrate the economic and technical viability of the Project 23 Reserve Category Total Proven ('000 tons) Probable ('000 tons) Alunite Ore (ROM tons) 136,254 289,540 425,794 Ore (average K2O (%) grade) 3.56 3.49 3.51 Ore (average K2SO4 (%) grade) 6.59 6.46 6.49 SOP (tons) 8,457 17,970 26,427 Sulphuric Acid (tons) @ 98% Purity 18,888 40,136 59,024 Mineral Reserves by Category November 6, 2013  
  • 24. SULPHURIC ACID 24 Driven by local US Market – prices dependent on supply and proximity Mountain West US market approximately 5.6 million tons per annum Expected increase in this market from mine expansions and new mine development Potash Ridge will provide stable supply to consumers MOU in place for 20% of acid production
  • 25. •  Leaching process leaves alumina rich material which, with beneficiation, may be used as a substitute to bauxite as a feedstock into a Bayer alumina production facility. •  Metallurgical testing confirmed the alumina in this material is soluble in high temperature caustic solutions •  May also be acceptable as a raw material feed for low temperature refineries •  Further testing is underway to determine whether the alumina rich material could meet specifications for feed material in the production of ceramic proppants in North America. •  PFS economics do not include revenue from the sale of alumina rich material 25 UPSIDE POTENTIAL FROM LEACH RESIDUE SOURCES OF SMELTER FEED TO CHINA Blawn Mountain, Utah Boke, Guinea Trombetas, Brazil Kingston, Jamaica Distance to Shandong Province, China (nm) 5,744 11,128 10,815 9,051 Port Long Beach Conakry Aratu Jamaica
  • 26. MILESTONES 26 EXPECTED 43-101 Measured and Indicated Resource to support 30-year mine life Issue Preliminary Economics Assessment Commence metallurgical test program Commence Pilot Plant Test work & produce SOP from test work Complete baseline environmental surveys Issue Prefeasibility Study supporting 40-year mine live Submit Large Mining Permit Application Complete metallurgical test program Water Rights application approval Air Quality Permit filed Large Mining Permit approval Issue Feasibility Study Receive final permits Construction start up Ramp up a a a a a a a 2017 End 2015 End 2015 Early-Mid 2015 Q2 2014 End 2014 Q3 2014 Note: Timelines are based on obtaining sufficient financing to advance Feasibility Study 2014 to End 2015
  • 27. CAPITAL STRUCTURE 27 Millions Common Shares 81.7 Non-voting Common Shares 5.0 Total Shares Outstanding 86.7 Warrants – $ 0.50 10.7 Warrants – $1.00 5.0 Broker options/warrants 3.4 Stock options 7.0 Total Fully Diluted Shares 112.9 As at December 31, 2013 INSIDERS HOLD 5%, 10% FULLY DILUTED
  • 28. COMPETITIVE ADVANTAGES 40 year mine life, with mineral reserves of 426 million tons of ore Large mineral deposit containing premium-quality potash and alumina rich material   645,000 tons of SOP per annum over life of mine Mining friendly jurisdiction, established infrastructure nearby, designated development lands and efficient state permitting PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR; excludes potential revenue from alumina rich material Historical work expedites project development; proven production process Lower risk surface mining deposit; expected low cost producer 28
  • 29. CONTACT US 29 Toronto office: 3 Church Street, Suite 600 Toronto, Ontario M5E 1M2 Phone: 416-362-8640 ext 101 Salt Lake City office: 170 S. Main Street, Suite 500 Salt Lake City, UT 80101 Phone: 801-433-6027 www.potashridge.com info@potashridge.com