VANCOUVER, BRITISH COLUMBIA-(Marketwire - March 9, 2012) - Passport Potash Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) (“Passport” or the “Company”) is pleased to announce that it has exercised its option to acquire the 3% NSR royalty on the properties optioned from Mesa Exploration Corp (“Mesa”) in the Holbrook basin. Passport has also acquired the remaining 25% interest in the Mesa properties by spending more than $100,000 in work expenditures on the Mesa properties during its 2011 exploration program, thereby giving it a 100% NSR free interest in the Mesa sections.
The sections optioned from Mesa are some of the most strategically placed sections in the Passport portfolio of properties.
Passport’s President and CEO Joshua Bleak commented, “As we prepare for the release of our 43-101 Resource Report, we felt that it was in the best interests of the Company and its shareholders to firm up our ownership interest in these properties.”
About Passport Potash Inc.
Passport Potash Inc. is a publicly-traded corporation engaged in the exploration and development of advanced potash properties with its major focus on a previously explored potash property in Arizona. Passport has acquired a strategic position in the Holbrook Basin with land holdings encompassing over 81,315 acres. For more information on our company, please visit www.passportpotash.com.
On behalf of the Board of Directors of Passport Potash Inc.
Joshua Bleak, President
This news release includes certain statements that may be deemed “forward-looking statements”. Forward-looking information includes, but is not limited to: statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting; government regulation of mining operations; potential future expansion of the PFNP; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include : unsuccessful exploration results; changes in metals prices; changes in the availability of funding for mineral exploration; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedar.com.
Neither 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.