Western Potash Corp. – Completes Private Placement Filing

  Western Potash Corp. – Completes Private Placement Filing

Business Wire

VANCOUVER, British Columbia -- October 19, 2012

Western Potash Corp. (WPX: TSX) (FSE: AHE) (“the Company”) announces that it
has completed its filing with the Toronto Stock Exchange for Conditional
Approval of the private placement announced on October 1, 2012. The placement
will be reduced from up to 31,250,000 units to a placement of up to 20,000,000
units. This reduction was carried out to comply with the Toronto Stock
Exchange policy which limits unit private placements to less than 25% of a
company’s current issued and outstanding share capital, unless that company
had obtainedprior shareholder approval for the placement. All other terms and
conditions remain the same.

The proceeds of the offering will be sufficient for the company to finalize
the Feasibility Study, to deliver the environmental approvals, to complete all
necessary permitting, as well as for general working capital purposes.

Feasibility Study Update

The Milestone Feasibility Study continues to progress on schedule and within
the allocated budget. The Study is being completed by AMEC Americas Limited
(“AMEC”). AMEC is a leading international engineering and project management
company that currently manages multiple potash expansion projects in
Saskatchewan with a capital value of several billion dollars. The Study is now
more than 90% complete. Final drafting and reviewing of the document is
proceeding. The funds raised as part of this current financing more than
adequately support the completion of the Study. The Company anticipates a
final review of the draft Study on or about November 15, 2012. The target
completion date of the Study is set for late November 2012. Results from the
Study will be announced immediately thereafter. The Company also intends to
deliver an updated Resource and Reserve statement, currently being prepared by
Agapito Associates Inc., coincident with this announcement.

For more information on Western Potash Corp.’s projects, please visit the
Company’s website at: www.westernpotash.com

ON BEHALF OF THE BOARD OF DIRECTORS

“J. Patricio Varas”

J. Patricio Varas

President and CEO

Forward-Looking Statement

Except for statements of historical fact relating to Western Potash, certain
information contained herein constitutes “forward-looking information” under
Canadian securities legislation. Forward-looking information includes, but is
not limited to, statements with respect to timelines for completion of various
steps related to the foregoing; and the ability of Western Potash to develop
the Milestone Project. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as “intends” or
“anticipates”, or variations of such words and phrases or statements that
certain actions, events or results “may”, “could”, “should”, “would” or
“occur”. Forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made and they are subject to
known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of Western
Potash to be materially different from those expressed or implied by such
forward-looking statements or forward-looking information, including: the
receipt of all necessary approvals; the ability to conclude a transaction;
uncertainty of future production, capital expenditures and other costs;
financing and additional capital requirements; the receipt in a timely fashion
of any further permitting for the Milestone Project; legislative, political,
social or economic developments in the jurisdictions in which Western Potash
carries on business; operating or technical difficulties in connection with
mining or development activities; and the risks normally involved in the
exploration, development and mining business. Although management of Western
Potash has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements or forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward looking information. Western Potash
does not undertake to update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except in accordance
with applicable securities laws.

Contact:

Western Potash Corp.
John Costigan, 604-689-9378
VP Corporate Development
 
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