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Premium Potash Project 
Driven by a 
Proven Management Team 
TSX 
: 
PRK 
OTCQX 
: 
POTRF 
September 
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 
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 
OVER 80 YEARS COMBINED EXPERIENCE 
4
COMPETITIVE ADVANTAGES 
Premium potash product with supply deficit that cannot be met by existing production 
processes; 180% premium over MOP 
Current SOP consumption is ~5 million tpa, demand potential is 10-12 million tpa 
Large surface mineral deposit - low cost and low risk mining, with easy access to ore for 
test work. Known process – existing production facility in Azerbaijan 
Reserves supporting 645,000 tons of SOP production per annum over 40 year mine life 
plus two additional areas of potential resources 
Established infrastructure nearby, designated development lands and efficient state 
permitting; no federal permits for plant site 
Water rights, large mine operations and groundwater discharge permits all secured. 
Only major permit remaining (air permit) will be completed in parallel with feasibility study. 
PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR; excludes 
potential revenue from alumina rich material 
Mining friendly jurisdiction with strong state and municipal government support. 
MOUs under negotiation for $641m of support infrastructure, project financing expression 
of support received from Export Development Canada 
5
POTASH OVERVIEW 
6
POTASH: 
ESSENTIAL TO THE WORLD’S FOOD SUPPLY 
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 
7
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 
POTASSIUM AND SULPHUR ARE ESSENTIAL NUTRIENTS 
8 1 CRU 2013 
Chemical makeup assumes 92.5% K2SO4 and 95% KCl product 
* Within target markets 
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 
Especially valued for chloride sensitive crops, 
SOP improves yields on high value crops such as: 
Fruits 
Vegetables 
Nuts 
Horticultural Plants 
Tobacco 
Tea 
Coffee 
Dry/Salty soil 
9
SOP MARKET DYNAMICS 
10 1CRU 2013 
SOP Consumption by Region 
Europe 
24% 
N. 
America 
7% 
C & S 
America 
6% 
Africa 
5% RoW 
China 
49% 
9% 
Region Process 
Method 
World 
Capacity Process 
Inputs Products Avg 
Cost 
/ 
Ton1 
Future 
Outlook 
China/ 
Europe 
Mannheim 2.3Mt 
43% 
• MOP 
• Sulfuric 
Acid 
• Energy 
• SOP 
• Hydrochloric 
Acid 
$453 
High 
Cost/ 
by-­‐product 
limits 
growth 
Europe MOP 
and 
Kieserite 
1.2Mt 
22% 
• MOP 
• Kieserite 
• Energy 
• SOP 
• Magnesium 
Chloride 
$440 
No 
addiQonal 
deposits 
China/ 
USA/ 
Chile 
Salt 
Lakes 1.9Mt 
35% 
• Lake 
Brines 
• Energy 
• SOP 
• Magnesium 
Chloride 
• Sodium 
Chloride 
$381 
No 
addiQonal 
suitable 
lakes 
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?
SOP PREMIUM PRICE TRENDS 
11 
Recent quotes from blenders in Uberaba, Brazil $750/tonne 
Compass Q2/14 realized price $738/tonne1 
U.S. $/tonne 
800.0 
700.0 
600.0 
500.0 
400.0 
300.0 
200.0 
100.0 
POT 
-­‐ 
North 
America 
(MOP) 
CMP 
-­‐ 
(SOP) 
1 
Compass 
Minerals 
Q2 
2014 
Report, 
2 
Potash 
Corp 
Q2 
2014 
Report 
Potash Corp Q2/14 realized price $263/tonne2 
-­‐ 
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
Q3 
Q4 
Q1 
Q2 
2012 
2013 
2014 
CURRENT PREMIUM 180% FOR SOP IN US
SOP MARKET TARGETS 
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. 
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. 
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. 
SIGNIFICANT GROWTH POTENTIAL 
EASY ACCESS TO LOCAL MARKETS 
United States 
Brazil 
China 
12 1 CRU 2013 
2 From PRK Study August 2013, based on crops that are best suited for SOP
THE BLAWN MOUNTAIN PROJECT 
13
PROJECT OVERVIEW 
ANTICIPATED MINE RAMP-UP IN 2017 
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
UTAH: AN ATTRACTIVE 
MINING JURISDICTION 
Major resource producer 
Existing potash production 
Best state for business1 
Top quartile mining jurisdiction2 
ALMOST 100 YEARS OF POTASH PRODUCTION 
1Forbes Magazine, December, 2012 2Fraser Institute, April, 2013 
16
OUR LAND ADVANTAGE 
State-owned land designated for 
development 
Leasehold and royalty agreements 
negotiated 
No known adverse environmental or 
social issues 
Roads, rail, transmission and natural gas 
nearby 
Construction materials, equipment 
suppliers and skilled labour force 
17 
MUNICIPAL AND STATE SUPPORT OF PROJECT
18 
ADVANCED PERMITTING STAGE 
The following table identifies the various permits and approvals that the Corporation has or still 
needs to obtain prior to start-up of the mine and processing plant: 
Major&Required&Permits& 
Major&Permits&or&Approvals& Issuing&Agency& Completed& 
Exploration+Permit+ Utah+ Division+ of+ Oil,+ Gas+ and+ 
Mining+ 
October,+2011+ 
US+ Army+ Corps+ of+ Engineers+ 
Jurisdictional+Waters+Concurrence+ 
US+Army+Corps+of+Engineers+ March,+2014+ 
Water+Appropriations+ Utah+Office+of+State+Engineer+ May,+2014+ 
Groundwater+Permits+ Utah+Division+of+Water+Quality+ July,+2014+ 
Large+Mine+Operation+Approval& Utah+ Division+ of+ Oil,+ Gas+ and+ 
Mining+ 
August,+2014 
Air+Quality+Permit+ Utah+Division+of+Air+Quality+ +
EXTENSIVE DEVELOPMENT COMPLETED IN 1970’s 
PREVIOUS WORK ACCELERATES PROJECT DEVELOPMENT 
19 
• 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 
Crushing & Grinding 
Calcination 
Water Leach 
Alumina Rich Material 
• Plant to process 10.4 million tons per annum 
• Metallurgical testing on-going for Feasibility Study 
SO2 Acid Plant Sulphuric Acid 
SOP Solution Crystallizing Drying, 
Compacting & Sizing SOP 
20 
• Plant currently operating in Azerbaijan. (Ganja Refinery) 
• Flowsheet similar to commercial-scale production 
processes historically used in US and Australia. 
RECENT EXTENSIVE TEST WORK CONFIRMS FLOWSHEET
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. 
21 
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 mid 
2016; 
• 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 
22 
CAPITAL 
COST: 
$1.124 
billion 
(15% 
conKngency) 
14% 
SOP 
Leaching, 
CrystallizaQon 
and 
Drying 
42% 
31% 
ConQngency, 
Indirects 
and 
Infrastructure 
13% 
CalcinaQon 
Crushing 
& 
Grinding 
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) 
*MOU 
signed 
with 
Tetra 
Tech 
contemplates 
their 
parQcipaQon 
to 
build, 
own 
and 
operate 
these 
assets
OPERATING COSTS: $173/TON OF SOP 
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 
23 
Total Cash Production Costs 
7% 
Other 
($14M) 
14% 
RoyalQes 
($33M) 
Annual Average 
Cost($)/Ton SOP 
(Constant 2013 $US) 
Excludes 
credit 
for 
potenQal 
alumina 
rich 
material 
revenue. 
Includes 
15% 
conQngency 
(excluding 
non-­‐energy 
and 
labour 
costs). 
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 
24 
Mineral Reserves by Category November 6, 2013 
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
STRONG MARKET FOR SULPHURIC ACID 
25 
US market is world’s largest importer of sulphuric acid, mostly from Canada and 
through the Gulf Coast (from Europe and Mexico) 
Current imports of 3 million tonnes per annum; expected to increase to 5 million 
tonnes per annum by 2018 
• Increase in market demand from mine expansions, new development and 
increases in industrial use 
• Imports from Canada and Mexico expected to decline due to lower production 
of smelter acid (Canada) and higher domestic consumption (Mexico) 
Consumers looking for stable supply for existing operations and to satisfy growth 
plans 
Mountain West US market approximately 5.1 million tonnes per annum and 
expected to grow to 6.5 million tonnes by 2018. 
MOU in place for sale of approximately 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 potential revenue from the sale of approximately 1.2 
million tonnes of this alumina rich material 
• Landed cost of bauxite in China is approximately $85 per tonne 
26 
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) 5,556 11,128 10,815 9,051 
Port Vancouver Conakry Aratu Jamaica
MILESTONES 
27 
Preliminary Economic Assessment issued November, 2012 
Metallurgical test program initiated January, 2012 
Pilot Plant Test work initiated & SOP from test work produced May, 2013 
Prefeasibility Study supporting 40-year mine life issued December, 2013 
Large Mining Permit Application submitted December, 2013 
Water Rights Granted May, 2014 
Ground Water Permit approved July, 2014 
Large Mining Permit approved August, 2014 
Strategic Partnership with Tetra Tech announced August, 2014 
Air Quality Permit 1H 2016 
Issue Feasibility Study 2H 2015 
Complete metallurgical test program 2H 2015 
Receive final permits 1H 2016 
Mine construction start up Mid 2016 
Ramp up of mining Mid 2017 
Note: Timelines are based on obtaining sufficient financing to advance Feasibility Study 
Achieved Expected
CAPITAL STRUCTURE 
28 
Millions 
Common Shares 81.7 
Non-voting Common Shares 5.1 
Total Shares Outstanding 86.8 
Warrants – $ 0.50(1) 10.7 
Warrants – $1.00(2) 5.1 
Broker options/warrants 3.4 
Stock options(3) 7.2 
Total Fully Diluted Shares 113.2 
As at June 30, 2014 
1. Expiry occurs on November 27, 2014 
2. Expiry occurs on December 5, 2014 
3. Stock options have exercise prices varying between $0.14 and $1.00. Expiry dates occur between 2021 and 2024 
INSIDERS HOLD 5%, 10% FULLY DILUTED
COMPETITIVE ADVANTAGES 
Premium potash product with supply deficit that cannot be met by existing 
production processes; 180% premium over MOP 
Current SOP consumption is ~5 million tpa, demand potential is 10-12 million tpa 
Large surface mineral deposit - low cost and low risk mining, with easy access to 
ore for test work. Known process – existing production facility in Azerbaijan 
Reserves supporting 645,000 tons of SOP production per annum over 40 year mine 
life plus two additional areas of potential resources 
Established infrastructure nearby, designated development lands and efficient state 
permitting; no federal permits for plant site 
Water rights, large mine operations and groundwater discharge permits all secured. 
Only major permit remaining (air permit) will be completed in parallel with feasibility 
study. 
PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR; 
excludes potential revenue from alumina rich material 
Mining friendly jurisdiction with strong state and municipal government support. 
MOUs under negotiation for $641m of support infrastructure, project financing 
expression of support received from Export Development Canada 
29
CONTACT US 
30 
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 
info@potashridge.com 
www.potashridge.com

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Presentation - September 2014

  • 1. Premium Potash Project Driven by a Proven Management Team TSX : PRK OTCQX : POTRF September 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 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 OVER 80 YEARS COMBINED EXPERIENCE 4
  • 5. COMPETITIVE ADVANTAGES Premium potash product with supply deficit that cannot be met by existing production processes; 180% premium over MOP Current SOP consumption is ~5 million tpa, demand potential is 10-12 million tpa Large surface mineral deposit - low cost and low risk mining, with easy access to ore for test work. Known process – existing production facility in Azerbaijan Reserves supporting 645,000 tons of SOP production per annum over 40 year mine life plus two additional areas of potential resources Established infrastructure nearby, designated development lands and efficient state permitting; no federal permits for plant site Water rights, large mine operations and groundwater discharge permits all secured. Only major permit remaining (air permit) will be completed in parallel with feasibility study. PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR; excludes potential revenue from alumina rich material Mining friendly jurisdiction with strong state and municipal government support. MOUs under negotiation for $641m of support infrastructure, project financing expression of support received from Export Development Canada 5
  • 7. POTASH: ESSENTIAL TO THE WORLD’S FOOD SUPPLY 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 7
  • 8. 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 POTASSIUM AND SULPHUR ARE ESSENTIAL NUTRIENTS 8 1 CRU 2013 Chemical makeup assumes 92.5% K2SO4 and 95% KCl product * Within target markets 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 Especially valued for chloride sensitive crops, SOP improves yields on high value crops such as: Fruits Vegetables Nuts Horticultural Plants Tobacco Tea Coffee Dry/Salty soil 9
  • 10. SOP MARKET DYNAMICS 10 1CRU 2013 SOP Consumption by Region Europe 24% N. America 7% C & S America 6% Africa 5% RoW China 49% 9% Region Process Method World Capacity Process Inputs Products Avg Cost / Ton1 Future Outlook China/ Europe Mannheim 2.3Mt 43% • MOP • Sulfuric Acid • Energy • SOP • Hydrochloric Acid $453 High Cost/ by-­‐product limits growth Europe MOP and Kieserite 1.2Mt 22% • MOP • Kieserite • Energy • SOP • Magnesium Chloride $440 No addiQonal deposits China/ USA/ Chile Salt Lakes 1.9Mt 35% • Lake Brines • Energy • SOP • Magnesium Chloride • Sodium Chloride $381 No addiQonal suitable lakes 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. SOP PREMIUM PRICE TRENDS 11 Recent quotes from blenders in Uberaba, Brazil $750/tonne Compass Q2/14 realized price $738/tonne1 U.S. $/tonne 800.0 700.0 600.0 500.0 400.0 300.0 200.0 100.0 POT -­‐ North America (MOP) CMP -­‐ (SOP) 1 Compass Minerals Q2 2014 Report, 2 Potash Corp Q2 2014 Report Potash Corp Q2/14 realized price $263/tonne2 -­‐ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2013 2014 CURRENT PREMIUM 180% FOR SOP IN US
  • 12. SOP MARKET TARGETS 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. 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. 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. SIGNIFICANT GROWTH POTENTIAL EASY ACCESS TO LOCAL MARKETS United States Brazil China 12 1 CRU 2013 2 From PRK Study August 2013, based on crops that are best suited for SOP
  • 13. THE BLAWN MOUNTAIN PROJECT 13
  • 14. PROJECT OVERVIEW ANTICIPATED MINE RAMP-UP IN 2017 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. UTAH: AN ATTRACTIVE MINING JURISDICTION Major resource producer Existing potash production Best state for business1 Top quartile mining jurisdiction2 ALMOST 100 YEARS OF POTASH PRODUCTION 1Forbes Magazine, December, 2012 2Fraser Institute, April, 2013 16
  • 17. OUR LAND ADVANTAGE State-owned land designated for development Leasehold and royalty agreements negotiated No known adverse environmental or social issues Roads, rail, transmission and natural gas nearby Construction materials, equipment suppliers and skilled labour force 17 MUNICIPAL AND STATE SUPPORT OF PROJECT
  • 18. 18 ADVANCED PERMITTING STAGE The following table identifies the various permits and approvals that the Corporation has or still needs to obtain prior to start-up of the mine and processing plant: Major&Required&Permits& Major&Permits&or&Approvals& Issuing&Agency& Completed& Exploration+Permit+ Utah+ Division+ of+ Oil,+ Gas+ and+ Mining+ October,+2011+ US+ Army+ Corps+ of+ Engineers+ Jurisdictional+Waters+Concurrence+ US+Army+Corps+of+Engineers+ March,+2014+ Water+Appropriations+ Utah+Office+of+State+Engineer+ May,+2014+ Groundwater+Permits+ Utah+Division+of+Water+Quality+ July,+2014+ Large+Mine+Operation+Approval& Utah+ Division+ of+ Oil,+ Gas+ and+ Mining+ August,+2014 Air+Quality+Permit+ Utah+Division+of+Air+Quality+ +
  • 19. EXTENSIVE DEVELOPMENT COMPLETED IN 1970’s PREVIOUS WORK ACCELERATES PROJECT DEVELOPMENT 19 • 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
  • 20. SIMPLE PROVEN FLOWSHEET Alunite Crushing & Grinding Calcination Water Leach Alumina Rich Material • Plant to process 10.4 million tons per annum • Metallurgical testing on-going for Feasibility Study SO2 Acid Plant Sulphuric Acid SOP Solution Crystallizing Drying, Compacting & Sizing SOP 20 • Plant currently operating in Azerbaijan. (Ganja Refinery) • Flowsheet similar to commercial-scale production processes historically used in US and Australia. RECENT EXTENSIVE TEST WORK CONFIRMS FLOWSHEET
  • 21. 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. 21 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 mid 2016; • 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%.
  • 22. SOP CAPITAL COST BREAKDOWN1 22 CAPITAL COST: $1.124 billion (15% conKngency) 14% SOP Leaching, CrystallizaQon and Drying 42% 31% ConQngency, Indirects and Infrastructure 13% CalcinaQon Crushing & Grinding 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) *MOU signed with Tetra Tech contemplates their parQcipaQon to build, own and operate these assets
  • 23. OPERATING COSTS: $173/TON OF SOP 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 23 Total Cash Production Costs 7% Other ($14M) 14% RoyalQes ($33M) Annual Average Cost($)/Ton SOP (Constant 2013 $US) Excludes credit for potenQal alumina rich material revenue. Includes 15% conQngency (excluding non-­‐energy and labour costs). 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
  • 24. 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 24 Mineral Reserves by Category November 6, 2013 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
  • 25. STRONG MARKET FOR SULPHURIC ACID 25 US market is world’s largest importer of sulphuric acid, mostly from Canada and through the Gulf Coast (from Europe and Mexico) Current imports of 3 million tonnes per annum; expected to increase to 5 million tonnes per annum by 2018 • Increase in market demand from mine expansions, new development and increases in industrial use • Imports from Canada and Mexico expected to decline due to lower production of smelter acid (Canada) and higher domestic consumption (Mexico) Consumers looking for stable supply for existing operations and to satisfy growth plans Mountain West US market approximately 5.1 million tonnes per annum and expected to grow to 6.5 million tonnes by 2018. MOU in place for sale of approximately 20% of acid production
  • 26. • 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 potential revenue from the sale of approximately 1.2 million tonnes of this alumina rich material • Landed cost of bauxite in China is approximately $85 per tonne 26 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) 5,556 11,128 10,815 9,051 Port Vancouver Conakry Aratu Jamaica
  • 27. MILESTONES 27 Preliminary Economic Assessment issued November, 2012 Metallurgical test program initiated January, 2012 Pilot Plant Test work initiated & SOP from test work produced May, 2013 Prefeasibility Study supporting 40-year mine life issued December, 2013 Large Mining Permit Application submitted December, 2013 Water Rights Granted May, 2014 Ground Water Permit approved July, 2014 Large Mining Permit approved August, 2014 Strategic Partnership with Tetra Tech announced August, 2014 Air Quality Permit 1H 2016 Issue Feasibility Study 2H 2015 Complete metallurgical test program 2H 2015 Receive final permits 1H 2016 Mine construction start up Mid 2016 Ramp up of mining Mid 2017 Note: Timelines are based on obtaining sufficient financing to advance Feasibility Study Achieved Expected
  • 28. CAPITAL STRUCTURE 28 Millions Common Shares 81.7 Non-voting Common Shares 5.1 Total Shares Outstanding 86.8 Warrants – $ 0.50(1) 10.7 Warrants – $1.00(2) 5.1 Broker options/warrants 3.4 Stock options(3) 7.2 Total Fully Diluted Shares 113.2 As at June 30, 2014 1. Expiry occurs on November 27, 2014 2. Expiry occurs on December 5, 2014 3. Stock options have exercise prices varying between $0.14 and $1.00. Expiry dates occur between 2021 and 2024 INSIDERS HOLD 5%, 10% FULLY DILUTED
  • 29. COMPETITIVE ADVANTAGES Premium potash product with supply deficit that cannot be met by existing production processes; 180% premium over MOP Current SOP consumption is ~5 million tpa, demand potential is 10-12 million tpa Large surface mineral deposit - low cost and low risk mining, with easy access to ore for test work. Known process – existing production facility in Azerbaijan Reserves supporting 645,000 tons of SOP production per annum over 40 year mine life plus two additional areas of potential resources Established infrastructure nearby, designated development lands and efficient state permitting; no federal permits for plant site Water rights, large mine operations and groundwater discharge permits all secured. Only major permit remaining (air permit) will be completed in parallel with feasibility study. PFS completed November 2013: $1.0 billion NPV at 10%; 20.5% after tax IRR; excludes potential revenue from alumina rich material Mining friendly jurisdiction with strong state and municipal government support. MOUs under negotiation for $641m of support infrastructure, project financing expression of support received from Export Development Canada 29
  • 30. CONTACT US 30 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 info@potashridge.com www.potashridge.com