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Passport Potash Announces New NI 43-101Compliant Mineral Resource of 713.4 Million Tonnes


April 10, 2012 - Hong Kong

Passport Potash Inc. ("Passport Potash" or the "Company"; TSX.V:PPI; OTCQX:PPRTF), is pleased to announce the receipt of a NI 43-101 compliant mineral resource estimate by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH (ERCOSPLAN), a consulting and engineering firm, specialized in the potash and salt industry, headquartered in Erfurt, Germany, for its Holbrook Basin property in Northern Arizona. This initial resource estimate consists of 125.6 million tonnes of indicated mineralizedmaterial with an average KCl grade of 14.29% (equivalent to an Indicated Resource of 17.96 million tonnes of KCl) and 587.8 million tonnes of inferred mineralized material with an average KCl grade of 12.20% (equivalent to an Inferred Resource of 71.71 million tonnes of KCl). It is important to note that at present the estimated resources cover only about 40% of the Company"s current holdings ("Passport Potash Property").

In the opinion of ERCOSPLAN, the investigated part of the Passport Property contains sufficient resources to justify further expenditures of funds to expand and upgrade the present Indicated and Inferred resource, to start work on a (pre-) feasibility study to identify the best mining method, to verify the economical feasibility of the project and to eventually transform the Indicated and Measured Resources to reserves in compliance with NI 43-101.

Indicated resources occur within a radius of 1,000m of an investigated Passport Potash drill hole and Inferred resources occur within a radius of 2,000m of an investigated Passport Potash drill hole, minus any indicated resources in this area.

Generally, the deposit is divided into three potash beds dominated by Halite with appreciable amounts of Sylvite (upto 50%) and Carnallite locally (up to 20%), while subordinate amounts of Anhydrite and Insolubles occur. The single beds are separated by relatively low grade mineralized beds dominated by Halite.

In their report ERCOSPLAN recommends an additionaldrill program consisting of 15 additional wells. The recommendation is designed to further expand the indicated and inferred resource as well as to confirm the continuity of the deposit.

Passport Potash is currently in the process of fulfillingthe drilling recommendations from ERCOSPLAN. A portion of the wells have already been completed and will be sent to SRC Geoanalytical Laboratories for full analysis. Drill results will be released to the market on a hole by hole basis when completed.

The Company anticipates that it will commence a preliminary economic assessment of the Holbrook Basin Project as soon as the current definition phase is completed. The preliminary economic assessment will aim to conceptualize the viability ofa potash mining operation within the Holbrook Basin. The assessment will place particular focus on quantifying the expected benefits of the shallow depth of the deposit as well as the extensive pre-existing infrastructure.

The President and CEOof Passport Potash, Joshua Bleak was very pleased with the initial resource report commenting, "We are vey happy with the initial resource calculation that we have received from ERCOSPLAN. The initial resource is based on only 40% of our total land holdings, so there is great optimism in the future expansion of our resource. We are currently following the recommendations from ERCOSPLAN and drilling the targets that were identified in the report. We look to include that data in a future NI-43101resource update. We look to begin our preliminary economic assessment shortly as our next step."

To view the report in its entirety click here http://passportpotash.com/pdf/report.pdf

Stephen B. Butrenchuk, P. Geo, P.Geol., Director of PassportPotash, is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.

About Passport Potash Inc.

Passport Potash Inc. ("Passport Potash"; TSX.V:PPI; OTCQX:PPRTF) 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 Potash 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.

Forward-Looking Statement:
This news release includes certain statements that may be deemed "forward-looking statements". 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.

Source: Passport Potash Inc.

Contact:

Passport Potash, Inc.
Mr Peter J KLETAS,
Manager of Corporate Development
Tel: +1-866-999-6251 (Toll Free)
E-mail: peter@passportpotash.com

Mr Clive MOSTERT,
Corporate Communications
Tel: +1-780-920-5044
E-mail: cmostert@passportpotash.com

Quam IR
Ms Anita WAN, Tel: +852-2217-2811, E-mail: anita.wan@quamgroup.com
Ms Sharon AU, Tel: +852-2217-2812, E-mail: sharon.au@quamgroup.com
Ms Venus LAM, Tel: +852-2217-2813, E-mail: venus.lam@quamgroup.com





Copyright 2012 ACN Newswire. All rights reserved.

ACN Newswire

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