January 2013 - Presentation

Premium Potash Project Driven by a Proven Management Team

FORWARD LOOKING STATEMENTS

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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 final prospectus of the Corporation dated November 27, 2012, 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.

A potash company focused on its

Blawn Mountain property in Utah

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SOP: 680,000 tonnes per annumBauxite: 3.3 million tonnes per annum

EXPERIENCED AND PROVEN MANAGEMENT

OVER 80 YEARS COMBINED EXPERIENCE

Guy Bentinck President & CEOChartered Accountant;20 years mining/resource experience

Sherritt: CFO and SVP Capital Projects

Ross Phillips VP, Development10 years experience in large resource and energy sector projects

Sherritt, Capital Power

Jeff Hillis CFOChartered Accountant;10 years mining sector finance, including CFO of several public mining companies

Iberian Minerals, Excellon, Falconbridge

Paul Hampton VP, Project ManagementGeologist and Metallurgical Engineer;

~30 years experience in design, construction, start-up and management of mineral processing facilities

SNC, Washington Group, Outotec

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Laura Nelson VP, Government and Regulatory AffairsExtensive experience in government relations, permitting and power planning, including the successful permitting of the Red Leaf oil shale project

Red Leaf Resources, Utah Government

COMPETATIVE ADVANTAGES

Large mineral deposit containing premium-quality potash

Strategically located in a mining friendly jurisdiction with established infrastructure nearby

State-owned land allows for an efficient permitting process

Historical work expedites project development

Lower risk surface mining deposit; expected low-cost producer

30 year mine life, with upside potential

PEA completed: $1.3 billion NPV at 10%; 21.3% after tax IRR

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No known substitute

Increasing world population

Growing per capita income

Decreasing arable land

Increasing use of biofuels

~5% EXPECTED ANNUAL GROWTH IN DEMAND TO 2016

POTASH:ESSENTIAL TO THE WORLD’S FOOD SUPPLY

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AVERAGE 47% PRICE PREMIUM OVER MOP3

SULPHATE OF POTASH (SOP) IS A PREMIUM PRODUCT

Sulphate of Potash (SOP) Muriate of Potash (MOP)

Potassium Sulphate (K2SO4) Potassium Chloride (KCl)

6 million tonnes sold in 20111 55.8 million tonnes sold in 20112

Potassium and sulphur are essential nutrients2 Crop quality/yield diminish as chloride builds up2

Improves yield, quality, taste and enhances shelf life2

1Source: Fertecon 2Source: CRU 3Based on historical data7

USES OF SOP

Fruits

Vegetables

Nuts

Horticultural Plants

Tobacco

Tea

Dry soils

Salty soil

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HISTORICAL PRICE PREMIUM FOR SOP HAS RANGED BETWEEN 30% AND 61%

SOP PREMIUM PRICE TRENDS

1SOP, standard grade cif NW Europe (Source: Fertilizer Week)2MOP, all grades, fob Vancouver/Portland (Source: CRU)

U.S. $/tonne

SOP1 MOP2

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2006 2007 2008 2009 2010 2011 20120

100

200

300

400

500

600

700

800

900

SOP MARKET CHARACTERISTICS

1Source: Fertecon, CRU10

Global SOP Consumption and Commodity Price1

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

0

2,000

4,000

6,000

8,000

10,000

12,000

2000 2004 2008 2012 2016 2020

(US

$/ton

ne)

To

nn

es (

000s

)

Global SOP Consumption

Historical Standard FOB NW Europe (US$/tonne SOP)

Estimated Standard FOB NW Europe (US$/tonne SOP)

6.0% CAGR for consumption

Europe23.3%

N. America8.6%

China44.3%

Rest of the World

14.9%

Africa4.6%

Central andSouth America

4.3%

SIGNIFICANT GROWTH POTENTIAL

SOP MARKET DYNAMICS

Limited production and premium price has restricted demand

SOP share of potash market: Current: ~10%Potential: >28%1

Trend toward high nutrient fertilizers

Potential to use SOP in typical cereal crop fertilizer blends instead of ammonium sulphate

India

SOP consumption:China (pop. 1.3 billion): 1.9 million tpyIndia: (pop. 1.2 billion) 50,000 tpy (<1% of country’s potash consumption)

BrazilSOP consumption = 32,000 tpy (0.4% of total potash consumption)Premium crops grown on 20% of planted land

111Based on crops that are best suited for SOP

THE BLAWN MOUNTAIN PROJECT

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ANTICIPATED PRODUCTION BY 2016

PROJECT OVERVIEW

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Large alunite deposit, which is expected to be processed into SOP, by-product sulphuric acid and bauxite

Target 680,000 tonnes per year of SOP by mid-2016

Historical work expedites project development

Mineral deposit to be surface mined

Proven process

SOP HOSTED IN ALUNITE

Volcanic rock mined for over 500 years

Contains alumina (Al2O3), potassium (K2O), and sulphur (SO3)

Historic source of SOP in U.S. and Australia

Long-term SOP and alumina production in Azerbaijan

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PREVIOUS WORK ACCELERATES PROJECT DEVELOPMENT

EXTENSIVE DEVELOPMENT COMPLETED IN 1970’s

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Approx. $25 million spent (~ $100 million in today’s dollars)

All data owned by Potash Ridge

Drilling

Resource estimate

Feasibility study

Mine plan

Engineering

Permitting

Pilot plant: 3-year operation

processing 11 tonnes/day

SIMPLE PROVEN FLOWSHEET

Potash Ridge expects the processing plant to produce:• 680,000 tonnes of SOP per annum• 1.6 million tonnes of concentrated sulphuric acid per annum

Residue from water leach process is estimated to be 3.3 million tonnes per annum of 51% alumina content bauxite, suitable for a Bayer Process

Alunite

Beneficiation

Calcination

Water Leach

51% alumina content bauxite

Potash Sulphate Solution

Crystalizer Compaction Drying Potash Sulphate

SO2 Acid Plant Sulphuric Acid

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Flowsheet mirrors historical production processes

Bauxite suitable for a Bayer Process• Non-traditional high-grade alumina (51%) resource• Low iron / titanium concentrations compared to a traditional bauxite• Avoids the production of bauxite residue “red mud” waste • No identified heavy metals• Favorable access to markets via existing rail and port infrastructure

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HIGH GRADE BAUXITE BY-PRODUCT

Potash Ridge bauxite:

• THA = 50.9 % (Tri -hydrate Alumina)

• Quartz = 20.6 % (Form of Silica)

• Fe2O3 = 2.58 % (Ferrous Oxide <Iron>)

• TiO2 = 1.42 % (Titanium Oxide)

• P2O5 = 0.59 % (Phosphorous Pent-oxide)

Typical bauxite:

• THA = 41.66 % (Tri -hydrate Alumina)

• Total SiO2 = 7.32% (Total Silica)

• Quartz = 1.86 % (Form of Silica)

• Fe2O3 = 5.98 % (Ferrous Oxide <Iron>)

• TiO2 = 2.43 % (Titanium Oxide)

• P2O5 = 0.06 % (Phosphorous Pent-oxide)

• TOC = 0.19% (Total Organic Carbon)

ALMOST 100 YEARS OF POTASH PRODUCTION

UTAH: AN ATTRACTIVEMINING JURISDICTION

1Forbes Magazine, November, 2011 2Fraser Institute, February, 2012

Major resource producer

Existing potash production

Best state for business1

Top quartile mining jurisdiction2

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OUR LAND ADVANTAGE

State-owned land

Simpler permitting process

Leasehold and royalty agreements negotiated

No known adverse environmental, social or aboriginal issues

Sufficient water nearby1 – rights application made

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MUNICIPAL AND STATE SUPPORT OF PROJECT

1Based on historic data; confirmation drilling underway

ESTABLISHED INFRASTRUCTURE NEARBY

Roads, rail and natural gas

Construction materials and equipment suppliers nearby

Skilled labour force

Access to ports of Los Angeles and Houston

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HISTORIC DRILLING

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320 holes drilled in 1970’s

NI 43-101 CONFIRMATION DRILLING

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Phase 1

Area 1 – 34 holes (19 core; 15 RC)

Phase 2

Area 1 – 38 holes (12 core; 26 RC)Area 2 – 50 holes (6 core; 44 RC)

Phase 3

Area 1 – 2 RC holesArea 2 – 16 RC holes

140 holes following completion of current drilling program

Initial Mine Plan for 30 Years using NI 43-101 Compliant M&I Resources

SIGNIFICANT RESOURCE IDENTIFIED

1 Contained within alunite2 Using 1.00% cut-off grade3 The historic resources are not NI 43-101 compliant although reasonable methodologies were applied at the time. A qualified person has not done sufficient work to classify, and the Corporation is not treating, the estimates as current mineral resources or mineral reserves.

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Area

Measured + Indicated Inferred

Resource tons (000's)

Alunite gradeSOP tons

(000's)

SOPResource

tons (000's)Alunite grade

SOP tons (000's)

SOP

grade1 grade1

NI-43-101 Compliant 2

1 156,285 37.6% 9,315 15.8% 392 46.5% 24 13.1%

2 464,442 35.6% 26,395 15.9% 250,769 34.7% 13,476 15.5%

Total: Areas 1 & 2

620,726 35.8% 35,710 15.9% 251,160 34.7% 13,500 15.5%

Historic Resources 3

3 11,600 44.0% 987 19.3% 281,400 44.0%23,950

19.3%

4 51,700 36.5% 3,667 19.4% 49,200 38.0%3,645

19.5%

Total: Areas 3 & 4

63,300 37.9% 4,654 19.4% 330,600 43.1% 27,595 19.3%

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EXPECTED TO BE LOWEST COST SOP PRODUCER

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Alunite Leach

Polyhalite Leach

Salk Lakes MOP/ Sul-phate Salts

Mannheim Process

Cash Cost by Production MethodAvg Cost/Tonne

Process Method and Cost Comparisons

POTASH RIDGE

Expected In ProductionIncludes expected and in-production data

1 The cost is converted from $92 per short ton. Excludes sulphuric acid and bauxite credits

$300

$386

$550

$162

$1011

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PRELIMINARY ECONOMIC ANALYSIS RESULTSPROJECT HIGHLIGHTS

Annual Production Rates:

SOP 680,000 tonnes

Sulphuric Acid 1.6 million tonnes

Initial Mine Plan1 30 years

Capital Cost2 $1.075 billion

Cash Cost of Production (before acid credits)3,4 $101 per tonne

1 Future planned work may expand resource base and extend life of project beyond 30 years2 Excludes third party costs: power generation ($160 million), sulphuric acid plant ($180 million) and water treatment plant ($40 million) 3 The cost is converted from $92 per short ton4 Excludes potential credits related to sale of 3.3 million tonnes per annum of bauxite

FINANCIAL HIGHLIGHTS

NPV @ 10% (after tax)4 $1,331 million

Unlevered IRR (after tax)4 21.3%

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SOP CAPITAL COST BREAKDOWN1

CAPITAL COST: $1.075 billion

24% SOP Leaching, Crystallization

and Drying

18% Calcination

17% Beneficiation

41% Contingency

and Indirects

1 Excludes third party costs: power generation ($160 million), sulphuric acid plant ($180 million) and water treatment plant ($40 million)

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OPERATING COSTS: $101/TONNE1

79%

7%

79% Direct Plant and Mine

Production Costs

7% Other

14%Royalties

1 Excludes sulphuric acid and bauxite credits

25% Calcination

20%Labor and

Benefits

14% Beneficiation

14% Contingency

and Other

12% Powerhouse

11% Materials &

Consumables

4% SOP Leaching, Crystallization

and Drying

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CAPITAL STRUCTURE

Millions ($)

Common Shares 81.3

Non-voting Common Shares 5.0

Total Shares Outstanding 86.3

Warrants – $ 0.50 10.7

Warrants – $1.00 5.0

Broker options/warrants 3.4

Stock options 6.8

Total Fully Diluted Shares 112.3

PROJECT TIMELINE

Stage Activity 2013 2014 2015 2016

Confirmation Drilling

Areas 1 & 2

Process Development

Metallurgical Testing and Pilot Plant (process optimization)

Permitting Project Permitting

Engineering Studies

Prefeasibility

Feasibility/Mine Design1

Construction

Civil Works, etc.

Processing Plant2

Mine2

Production Commissioning2

1. Subject to receiving a positive pre-feasibility study2. Subject to receiving a positive feasibility study

MANAGEMENT AND BOARD CURRENTLY OWN 4%

STRONG BOARD WITH DIVERSE SKILLS AND LOCAL EXPERIENCE

Rahoul Sharan, ChairmanChartered Accountant with over 30 years diversified mining experience

Former Chairman and CEO of Uranium Power Corporation

Navin DaveChairman and CEO of Stat-Ops International

Former Managing Partner, KPMG LLP

Robert C. GrossFormer Chief of Staff to Utah Governor

Former Senior Advisor, Coalition Authority of Iraq

Former Chairman and President of First Interstate Bank

Former President and CEO of Blue Healthcare Bank

Rocco RossiExperienced business strategist and public company director

Former President and COO of MGI Software Corp.

Phil WilliamsDirector, Investment Banking of Dundee Capital Markets Inc.

Former VP, Business Development Pinetree Capital and Mega Uranium Ltd.

Stephen HarapiakPresident and COO Victory Nickel Inc.

Former CEO, Potash Corp.

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Guy Bentinck President & CEO

COMPETATIVE ADVANTAGES

Large mineral deposit containing premium-quality potash

Strategically located in a mining friendly jurisdiction with established infrastructure nearby

State-owned land allows for an efficient permitting process

Historical work expedites project development

Lower risk surface mining deposit; expected low-cost producer

30 year mine life, with upside potential

PEA completed: $1.3 billion NPV at 10%; 21.3% after tax IRR

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