Passport Potash Corporate Presentation

www.PassportPotash.com | PPRTF:OTCQX - PPI:TSX.V 1
September 2012

Disclaimer
Forward-Looking Statements and Forward-Looking Information
All statements, other than statements of historical fact, contained in this presentation constitute “forward-looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995, and “forward-looking information” under similar Canadian legislation and are based on the reasonable expectations, estimates and
projections of the Company as of the date of this presentation. Forward-looking statements and forward-looking information include, without limitation, possible events,
trends and opportunities and statements with respect to possible events, trends and opportunities, including with respect to, among other things, the growth of the phosphate
market, global market trends, expected industry demands, the Company’s business strategy and investment criteria, the nature of potential business acquisitions, costs and
timing of business acquisitions, capital expenditures, successful development of potential acquisitions, currency fluctuations, government regulation and environmental
regulation. Generally, forward-looking statements and 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 state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements and
forward-looking information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company as of the date of such
statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions contained in this
presentation, which may prove to be incorrect, include, but are not limited to, the various assumptions of the company set forth herein. Known and unknown factors could
cause actual results to differ materially from those projected in the forward-looking statements and forward-looking information. Such factors include, but are not limited to
fluctuations in the supply and demand for potash, changes in competitive pressures, including pricing pressures, timing and amount of capital expenditures, changes in capital
markets and corresponding effects on the company’s investments, changes in currency and exchange rates, unexpected geological or environmental conditions, changes in
and the effects of, government legislation, taxation, controls and regulations and political or economic developments in jurisdictions in which the Company carries on its
business or expects to do business, success in retaining or recruiting officers and directors for the future success of the Company’s business, officers and directors allocating
their time to other ventures; success in obtaining any required additional financing to make target acquisition or develop an acquired business; employee relations, and risks
associated with obtaining any necessary licenses or permits. Many of these uncertainties and contingencies can affect the company’s actual results and could cause actual
results to differ materially from those expressed or implied in any forward-looking statements and forward-looking information made by, or on behalf of, the Company. There
can be no assurance that forward-looking statements and forward-looking information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. All of the forward-looking statements and forward-looking information made in this presentation are qualified by these cautionary
statements. Although management of the Company 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. The Company 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.
This presentation includes estimates of potash potential in the Holbrook basin of east-central Arizona. These estimates are not mineral resources or mineral reserves as
defined by NI43-101. These estimates were based on a historical survey completed by the Arizona Geological Survey. The potential quantity and grade or the potash is
conceptual in nature, and is based on analysis of drill data and assays from Arkla and Duval completed in the 1960’s and 1970’s. There has been insufficient exploration to
define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Timelines used in this presentation are for the purpose of aiding management in the planning and implementation of the project, and are not based on a detailed assessment of
project requirements. Consequently the timelines are subject to material revision based on when technical reports and/or feasibility studies, if any, are completed. Future
phases of the project are contingent upon completion of preceding phases.

Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.


Potash
Functions of Potash
• Potassium increases the physical condition of crops, boosting strength and quality. It
helps regulate plant absorption of water and raises resistance to infections and parasites.
It plays a key role in enhancing plant quality.
• Potash also has many industrial applications and is used extensively in metallurgy,
drilling fluids for the oil and gas industry, building materials, as well as numerous end
uses in the production of paper, pharmaceuticals and detergents.

Potash - Outlook
• The potash market is projected to grow to
63 million tonnes in 2015 and 75 million
tonnes in 2020.
• The global population is expected to grow
by approximately 300-400 million every
five years.
• Income growth in developing countries tends to stimulate a change toward more varied
and meat-based, more crop intensive diets.
• In order to produce more food, crop production must intensify and yields must increase.
Arable land area is flat in absolute terms and falling per capita, opportunities to boost
crop production by increasing arable area are limited.


Global Market
Total US production ~ 1 million tons per annum
Total US consumption ~ 10 million tons per annum

17.9

2.1

China, India
Demand
Supply
To Asia
(China, India, Vietnam)) Interstate 40
(Route 66)
Holbrook 10.4
BNSF Rail line

To South America 1.5
(Brazil)
South America

Global Market
Global demand growth projections to 2020 are forecast to increase at 3.5% per year from 2010. On this basis, the
potash market will grow to 63 million tonnes in 2015 and 75 million tonnes in 2020.

China became the largest potash consumer in the early 2000s, when it overtook the USA. One of the key drivers
of long-term potash demand growth in China has been the increase in the production of fruit and vegetables and
other higher-value crops. The increase in disposable income has also stimulated a greater diversification of diets
in the country. China’s consumption is expected to grow from 9.1 million tonnes in 2010 to around 15.0 million
tonnes by 2020, an increase of 5.8 million tonnes. Potash usage is expected to grow in other staple crops, beside
fruits and vegetables.

Brazil has two key consuming crops, sugar cane and soybean, which account for around half of its potash
demand. Both crops have experienced significant growth in the last decade based on intensification and
expansion of land use. The Brazilian potash consumption is forecast to reach 12 million tonnes by 2020 from 7.4
million tonnes in 2010.

India’s imports totalled 6.2 million tonnes in 2010. With no domestic production of potash, India remains a key
import market and is supplied by a variety of sources. Fruit, vegetables, and rice are the key potash consuming
crops in India, together accounting for approximately half of consumption. Indian demand is forecast to reach
10.5 million tonnes by 2020.

Indonesia and Malaysia are the largest producers of oil palm, which requires high application rates of potash.
Demand is expected to grow as application rates rise and crop area for oil palm and other crops increases.
Indonesian potash demand is projected to grow from 2.2 million tonnes in 2010 to 3.6 million tonnes in 2020.


Holbrook Basin

• INTERNATIONAL
SHIPPING – The California
ports are some of the world’s
largest seaports and are located
550 miles to the west of the
project. California serves as the
leading gateway for trade between
the United States and Asia.
• POWER – Arizona Public
Service (APS) operates the
995MW Cholla Power Plant
located 25 miles West of the
project.
• ACCESS – BNSF railway, of
which Passport has 3.5 to 4 miles
on property, Interstate 40 and
Highway 180 all intersect the
project and provide immediate
east-west access to CA and NM.
• DEPTH – Deposit is between
800 and 1400 ft. deep. Considered
very shallow by industry standards.
Translates into lower capital costs
as well as production costs.


Basin Holdings


NI 43-101 Resource

This updated resource estimate consists of 25.43 million tonnes of measured mineralized
material with an average KCl grade of 14.5% (equivalent to a Measured Resource of 3.69
million tonnes of KCl), 252.87 million tonnes of indicated mineralized material with an
average KCl grade of 14.93% (equivalent to an Indicated Resource of 37.79 million tonnes of
KCl), and 673.84 million tonnes of inferred mineralized material with an average KCl grade
of 12.96% (equivalent to an Inferred Resource of 87.29 million tonnes of KCl).
It is important to note that at present the estimated resources cover only about 37% of the
Company’s holdings.

Mineralized Mass KCl Mass
Horizon Thickness Average KCl
Resource Area (km2)
(Metres) Grade (%)
(*MMT) (*MMT)

Measured Resource 4.42 3.26 14.50 25.43 3.69

Indicated Resources 45.16 3.18 14.93 252.97 37.79

Inferred Resources 132.97 3.02 12.96 673.84 87.29


PPI Milestones

1st Q 2012 2nd Q 2012
3rd Q 2012 3rd Q 2012 1st Q 2013
Fitzgerald 2013
NI 43-101 Phase 2 Updated Preliminary
Ranch Feasibility
Resource exploration resource Economic
Purchase Study
Estimate 20 holes calculation Assessment
Agreement


Extended Timeline

Holbrook 2011 2012 2013 2014 2015 2016
Project
RESOURCE INVESTIGATION
30 Hole Drill Program & Completed
100 Miles of 2D Seismic

Initial NI 43-101 including 30 Completed
holes
Current 20 Hole Drill Program

NI 43-101 Updated Resource
Report Including 50 Holes

ENVIRONMENTAL PERMITTING
Baseline Data Collection
Applications Submitted
Permitting and Licensing

ENGINEERING STUDIES
Preliminary Economic
Assessment
Feasibility

Mine/Plant Construction

Begin Production
2016 (estimated)
*The timeline represented here is for the purpose of aiding management in planning and implementation of the Holbrook project, and is not based on a detailed assessment of project
requirements. Consequently this timeline is subject to material revision based on when technical reports and feasibility studies, if any, are completed.


Management/Directors

Joshua Bleak, President and CEO/Director - Mr. Bleak is a fourth‐generation miner from an Arizona mining family
that has developed gold, silver, copper and uranium properties throughout the southwestern United States. He was previously
President of American Energy Fields, Inc., a U.S. publicly‐traded uranium company. Currently he serves as a director for a
number of Canadian junior mining exploration companies and is President of North American Environmental Corp., a
consulting company specializing in mining project management, permitting, lobbying and land tenure.

David J. Salisbury, Chairman of the Board of Directors/Director – Mr. Salisbury has had an extensive career in
the mining industry spanning four decades. Seventeen of those years were working for Rio Tinto. While with Rio Tinto, he
served as CEO and President of Resolution Copper Mining as well as President and CEO of Kennecott Minerals Company.
Mr. Salisbury was the leader for the Rio Tinto global improvement program, Improving Performance Together.
Prior to joining Rio Tinto, Mr. Salisbury served as the President of Cordero Mining Company / Sun Coal Company and was
responsible for the operation of the Cordero Mine. He also Served as President and COO of the Al Hamilton Operation
Company / Bradford Coal Company.

John Eckersley, Vice President/Director - Mr. Eckersley has been with Passport Potash for two years. He is an
attorney focusing on the areas of corporate and securities law. He served as corporate counsel for HNFC, a boutique
consulting firm specializing in corporate strategies, corporate mergers, acquisitions, capital and credit placement
accommodations, and in various regulatory compliance filings and registrations. He received his Bachelor of Science, cum
laude, and his Juris Doctorate from the University of Utah.

Laara Shaffer, CFO/Director – Ms. Shaffer has been a director of Passport Potash from 1996 to current. She is
currently a director of Nordic Gold Corp. and previously served as CFO and director of Compass Gold Corp. from 2007 to
2009.


Management/Directors

Matthew Salmon, Director - Mr. Salmon served as an Arizona State Senator from 1991 to 1995. While in the Senate,
he served as the Assistant Majority Leader and chaired the Rules Committee. From 1995 to 2001 Mr. Salmon represented
Arizona in the United States House of Representatives, where he served on the International Relations, Education, Small
Business, and Science Committees. He also served for six years on the Helsinki Commission and the Organization for
Security and Cooperation in Europe (OSCE) organizations. While in Congress, he led several U.S. Congressional delegations
to China to improve trade relations and bilateral relationships. He is the only Member of the U.S. Congress in America's
history who speaks Mandarin Chinese.

Ali Rahimtula, Director - Mr. Rahimtula is the president and founder of Transnational Enterprises, Ltd., DBA Transfert
America. Transnational is a member of the Rahimtula Group, an organization that was a pioneer in the fertilizer business in
India and which has been an Indian domestic industry leader since the 1960s.

Dennis Ickes, Director – Mr. Ickes is an advisor to PPI on Native American issues and was instrumental in helping to
obtain an access agreement with the Hopi tribe on its private lands. He served as Under‐Secretary of the Interior in two
Presidential cabinets. He also founded the Office of Indian Rights in the United States Department of Justice and served as its
Director.

Jerry Aiken, Director- Mr. Aiken has more than 41 years of experience in mineral exploration involving base metals,
precious metals, and industrial minerals with the most recent emphasis on Borates, Potash and Lithium. He has been
involved in project generation, geologic mapping, geochemical evaluation, drill program supervision, and regional program
management throughout the western United States, Canada, Mexico, South America and parts of Europe. Mr. Aiken worked
29 years for US Borax (Rio Tinto Exploration) in Tucson, Arizona and Valencia, California. Mr. Aiken graduated in 1966
with a Bachelor of Science degree in Geology from Western Michigan University. He is a Registered Professional Geologist
in the State of Washington, and is a Qualified Person (QP) pursuant to National Instrument 43-101.


Technical Team

ERCOSPLAN - Independent multinational consulting firm. Provides focused advice and services in all areas of industrial
potash and mineral salt. From exploration, feasibility, mine planning, production, to mine closure. More than half a century of
experience in planning and execution of projects in the potash and mineral salt industry. ERCOSPLAN utilizes 125 well
educated, highly motivated employees, well versed in their area of expertise. ERCOSPLAN has references in almost any
potash or salt producing country worldwide.

R. Timothy Henneberry, QP/ Professional Geologist/Advisory Board/Professional Geoscientist- More
than 28 years of experience in both exploration and production. President and CEO of Appleton Exploration Inc. Mr.
Henneberry served as the Chief Executive Officer and President of Indigo Exploration Inc. Mr. Henneberry has an extensive
experience as a project and consultant geologist, working on precious and base metals, and industrial minerals projects. He is
registered as a Professional Geologist in British Columbia. Mr. Henneberry received his Bachelor of Science in Geology
from Dalhousie University in Halifax, Nova Scotia in 1980.

Matt Monte, Geologist/Project Supervisor -Mr. Monte is a graduate of Arizona State University and Bradley
University with degrees in Geology (B.S.) and Management and Administration(B.S.). He was the 2010 Arizona
Hydrological Society Herman Bower Intern Scholarship Recipient and has practical field experience in base metals and
industrial minerals.

James Hasbrouck, Geophysicist/Advisory Board - Mr. Hasbrouck has over 30 years of experience in all aspects of
exploration geophysics including field operations; data reduction, processing, display, interpretation; and research and
development. Mr. Hasbrouck also has extensive knowledge and experience in all major surface, airborne, and borehole
geophysical methods including refraction and reflection seismics; electromagnetics; electrical resistivity and induced
polarization; gravity; magnetics; ground penetrating radar; and radiometrics.


Economics

• Symbols: PPI (TSX.V) PPRTF (OTCQX)
• Shares Issued: 172.8 M
• Market Cap: $34 M (approx.)
• Average Daily Volume: 179 K (3 months)
• Cash: $3 M (aprox.)*
*As of 8/31/12


Peer Comparisons

Potash Juniors Location Depth of Market Development Capex/Tonne
Deposit Cap Stage Completed Production

Passport
USA 243m-450m $30 M 43-101 N/A
Potash
Allana
Ethiopia 100m-300m $137 M PEA $796
Potash
Western
Canada 1000m-1500m $103 M Pre Feasibility $1178
Potash
Prospect
USA 243m-609m $143 M PEA $667
Global

Verde
Brazil 85m $145 M PEA $786
Potash

Karnalyte Canada 1000m-1500m $185 M Feasibility $1048


Holbrook Basin Project
Shallow Resource in excess Climate
BNSF rail line Mining
potash of 278 MMT allows for
borders friendly
deposit from combined measured year round
project jurisdiction
800’ to 1400’ and indicated KCL mining

• POTENTIAL – The NI 43-101 compliant • HOLDINGS – Passport has significant
mineral resource estimate by ERCOSPLAN, holdings within the Holbrook Basin, with
outlines an includes measured and indicated current holdings totaling more than 307
totaling 278.3 million tonnes of mineralized square kilometers/191 square miles and
mass with an average grade of 14.89% including 175 square kilometers/109
(equivalent to a Resource of 41.48 million square miles of private land.
tonnes of KCl).
• Measured resource shows 25.43 million • EXPLORATION – Since 2009 50 new
tonnes with an average KCl grade of 14.5% drill holes have been completed on Passport’s
(equivalent to a Measured Resource of 3.69 holdings.
million tonnes of KCl).
• MINING – Passport is evaluating available
• Indicated resource shows 252.87 million mining options. The upcoming PEA will
tonnes with an average KCl grade of 14.93% designate the mining style that will be used.
(equivalent to an Indicated Resource of 37.79 Year-round mining is possible due to the
million tonnes of KCl). favorable climate.
• Inferred resource consists of 673.84 million
tonnes with an average KCl grade of 12.96% • JURISDICTION – Arizona is a mining
(equivalent to an Inferred Resource of 87.29 friendly state and one of the top mining
jurisdictions in the United States.
million tonnes of KCl).

Corporate Office Operations Office (480) 288-6530
608,1199 West. Pender St. 3346 W. Guadalupe Road www.PassportPotash.com
Vancouver, B.C. V6E 2R1 Apache Jct., AZ 85120 Info@PassportPotash.com

www.PassportPotash.com | PPRTF:OTCQX - PPI:TSX.V

Passport Potash Corporate Presentation

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