SASKATOON, Saskatchewan--(BUSINESS WIRE)--

Gensource Potash Corporation (“Gensource” or the “Company”) (TSX-V:GSP), a fertilizer development company focused on sustainable potash production, is pleased to announce that Brent Cherkas, P.Eng., joined the Company on February 1, 2021. Brent will take on the role of Project Advisor with Gensource and will be a key participant in realizing the Tugaske Project.

With his broad experience over his 40-year career, Mr. Cherkas is a veteran engineer in the potash industry. Brent excelled in a number of roles ranging from design engineering through to operations, maintenance and large project execution. His career started at Potash Corporation of Saskatchewan (“PCS”) where he worked for 31 years in design engineering, plant engineering, maintenance engineering, maintenance superintendent, project management and in the Chief Maintenance Engineer role at the PCS head office, Allan Division and Cory Division. Ultimately, Mr. Cherkas took on the role of Project Coordinator at PCS Cory where he was responsible for the completion of the $1.4B, 2.0 Mt/a Cory Expansion Project.

Following his career with PCS, Brent took on several project advisor roles with both small and large companies, culminating with his work at the K+S Potash Canada GP Bethune mine where his technical and project advisory work was key to completing final items on that project to help it begin its ramp-up to full production.

“We are very pleased to welcome Brent to the team,” said Mike Ferguson, President and CEO. “Brent is the personification of the range of skills and experience that any company in the potash industry would want and need. As Gensource grows its team to execute the Tugaske Project, we start with the most experienced and most skilled to not only provide the right advice and input early in process, but also to help train, mentor and build the team that will ultimately commission and operate Tugaske. Brent is the first key addition to the project execution side and will be central in helping the Company succeed in executing and operating the project.”

“I am very happy to join the Tugaske Project at Gensource”, said Mr. Cherkas. “I like the innovative and small-scale approach to new potash production Gensource is employing. I am impressed with the team being assembled and look forward to using my experience to help make the Tugaske Project an outstanding success.”

About Gensource

Gensource Potash is a fertilizer development company based in Saskatoon, Saskatchewan and is on track to become the next fertilizer production company in that province. With a small scale and environmentally leading approach to potash production, Gensource believes its technical and business model will be the future of the industry. Gensource operates under a business plan that has two key components: (1) vertical integration with the market to ensure that all production capacity built is directed, and pre-sold, to a specific market, eliminating market-side risk; and (2) technical innovation which will allow for a small and economic potash production facility, that demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning risk, and requiring no surface brine ponds, thereby removing the single largest negative environmental impact of conventional potash mining.

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.

Caution Regarding Forward-Looking Statements

This news release may contain forward looking information and Gensource cautions readers that forward- looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Gensource included in this news release. This news release includes certain "forward-looking statements”, which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Gensource and Gensource provides no assurance that actual results will meet management's expectations. Forward looking statements include estimates and statements with respect to Gensource’s future plans, objectives or goals, to the effect that Gensource or management expects a stated condition or result to occur, including the ability to finance the Tugaske Project or other projects, the establishment of vertical integration partnerships and the sourcing of end use potash purchasers. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to Gensource’s financial condition and prospects, the ability to finance the Tugaske Project or other projects on terms which are economic or at all, the ability to establish viable vertical integration partnerships and the sourcing of end use potash purchasers could differ materially from those currently anticipated in such statements for many reasons such as: failure to finance the Tugaske Project or other projects on terms which are economic or at all; failure to settle a definitive joint venture agreement with a party and advance and finance the project; changes in general economic conditions and conditions in the financial markets; the ability to find and source off-take agreements; changes in demand and prices for potash; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Gensource’s activities; an inability to predict and counteract the effects of COVID-19 on the business of Gensource, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Gensource’s forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on Gensource’s forward-looking statements. Gensource does not undertake to update any forward-looking statement that may be made from time to time by Gensource or on its behalf, except in accordance with applicable securities laws.

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