UPDATE: IC Potash Expands Polyhalite Ochoa Project in Lea County, New Mexico

UPDATE: IC Potash Expands Polyhalite Ochoa Project in Lea County, New Mexico 
Company Increases State Lease Holdings to Nearly 28,000 Acres;
Combined State Mining Leases and Federal Prospecting Permits Now Span
160 Square Miles 
TORONTO -- (Marketwire) -- 02/22/13 --  IC Potash Corp. ("ICP" or the
"Company") (TSX: ICP) (OTCQX: ICPTF) today announced that in support
of its 100%-owned Polyhalite Ochoa Project in southeastern New
Mexico, the Company has secured an additional 1,914 acres of land in
Lea County from the New Mexico State Land Office, increasing its
total State lease and federal permit holdings in the region to
approximately 101,500 acres spanning 158.6 square miles.  
Commenting on the lease deal, New Mexico Commissioner of Public Lands
Ray Powell stated, "This new agreement brings ICP's State lease
holdings to nearly 28,000 acres and will generate for the State Land
Office up to $8 million or more, depending on product pricing, in
leasing fees and royalties each year once ICP is in production at its
planned Sulphate of Potash mine and processing facility. We are very
pleased to count ICP among our valued business partners and look
forward to putting these fees to work to benefit education in New
Mexico and, in turn, help keep our taxpayer bills low." 
Over 13 million acres of land granted to New Mexico in 1898 and 1910
are held in trust for the State's public schools and universities, as
well as special schools and hospitals that serve children with
physical, visual and auditory disabilities. In fiscal year 2012, the
trust lands and permanent funds, administered by Commissioner Powell,
produced a record amount of revenue, totaling more than $650 million
in income for the beneficiaries.  
ICP's Ochoa Project is located in the Pecos Valley section of the
southern Great Plains physiographic province, approximately 60 miles
east of Carlsbad, New Mexico, and less than 20 miles west of the
Texas-New Mexico state line. The overall project development plan
provides for completion of the Feasibility Study by the end of August
2013, final environmental permitting by the end of March 2014 and the
commencement of construction of the mine and processing facility
shortly thereafter. With over 100 full time employees and consultants
currently engaged in the Project, it is expected that up to 1,000 new
construction jobs, at peak construction activity, will be created;
and approximately 400 additional new permanent employees will be
hired to support commercial operations once construction is
Sidney Himmel, President and CEO of IC Potash, added, "Based on
findings of our original drilling program, the additional land
granted by the State has been determined to be strategically
important for our Ochoa Project, as it holds prospective
mineralization that could expand Ochoa's already significant resource
base of Polyhalite. In addition, this new lease also covers land
located approximately 1,500 feet from the planned mine shaft and ramp
bottom (the location of which was designated by the Bureau of Land
Management after the initial State leases were granted), making it
available for mining in the early production phase of the near
century-long mine life. We greatly appreciate the enthusiasm for our
project and the tremendous support we continue to receive from the
great State of New Mexico." 
About IC Potash Corp.
 ICP intends to become a primary producer of
Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM")
by mining its 100%-owned Polyhalite Ochoa property in southeast New
Mexico, a highly advanced mineral deposit containing proven and
probable reserves of more than 340 million tons of ore within the
proposed mine plan. SOP is a non-chloride based potash fertilizer
that sells at a substantial premium over the price of regular potash
known as Muriate of Potash ("MOP"). MOP contains chloride and is
therefore not the optimal potash for numerous crops and in situations
where there is high soil salinity. ICP is focused on becoming the
lowest cost producer of SOP in the world, a market that is towards
six million tonnes per year. SOP is a significant fertilizer in
horticultural industries, particularly fruits, vegetables, tobacco
and potatoes. SOP is applicable for soils where there is substantial
agricultural activity, high soil salinity, and in arid regions. SOPM
is a highly desirable potash product for soils with magnesium
deficiency, and has a total global market size of over one million
tonnes. ICP's Ochoa property consists of over 100,000 acres of
federal subsurface potassium prospecting permits and State of New
Mexico Potassium mining leases. For more information, please visit
Forward-Looking Statements 
 Certain information set forth in this
news release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of ICP,
including, but not limited to, risks associated with mineral
exploration and mining activities, the impact of general economic
conditions, industry conditions, dependence upon regulatory
approvals, and the uncertainty of obtaining additional financing.
Readers are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.  
For Investor and Media Relations
At Hanover|Elite: 
Dodi Handy or Kathy Addison
Phone: 407-585-1080 
or Email: ICP@hanoverelite.com 
At IC Potash Corp: 
Lisa Faiella
VP of IR
Phone: 303-515-8757 
or Email: lfaiella@icpotash.com 
At the New Mexico State Land Office:
Karin Stangl
Assistant Commissioner of Communication
505-699-1018 Cell
505- 827-5739 Work 
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