TORONTO, ONTARIO--(Marketwire - Oct. 13, 2010) - Allana Potash Corp. (TSX VENTUTRE:AAA)("Allana" or the "Company"), is pleased to announce that the Companyhas organized the first analyst tour for a number of mining andfertilizer analysts as well as investment fund managers of itsexploration project in the Danakhil Depression, Ethiopia. The group alsoconducted meetings with top government officials in Addis Ababa, thecapital city of Ethiopia.
Mining and fertilizer analysts from Wellington West, DundeeSecurities, Cormark, Salman Partners and Fraser MacKenzie along with anumber of fund managers, toured Allana's ongoing exploration project inthe Danakhil Depression. The analysts reviewed drill core from Allana'sfour completed holes on the project as well as the new camp expansion toaccommodate additional crew for the seismic program. The group visitedongoing drilling at holes DK-10-05 and DK-10-06 in the centre of theevaporite basin and observed ongoing seismic optimization studies withvibreseis units and road construction to improve access to the centre ofthe basin.
The analysts also met with His Excellency, the President ofEthiopia, Honourable Minister of Mines and Energy, and HonourableMinister of Transport and Telecommunications to discuss infrastructuredevelopment initiatives in Ethiopia and specifically near Allana'spotash project, as well as general investment climate in the miningsector in Ethiopia. The government confirmed a published report on arailway construction initiative aimed at linking Addis Ababa to Djiboutiand to developing a northern rail line close to Allana's potashproject. In addition, road crews have begun preparations to pave themain project access road between the village of Hamadela (adjacent toAllana's camp) and the regional centre of Mekele greatly improvingaccess to the project area. The Ethiopian government officials expressedtheir continuing full support to Allana's potash exploration projectand pledged maximum assistance with ongoing infrastructure development.
Farhad Abasov, President and CEO of Allana Potash, stated:"We are very excited to have completed the first analyst tour of ourpotash project in Ethiopia. We are thankful to the analysts and fundmanagers who have shown a strong interest in our project. The group had achance to witness Allana's progress on our project first hand includingimproved road infrastructure, existing drill holes, ongoing drillingand seismic programs and excellent, state-of-the-art conditions of ourfield camp. We express our sincere gratitude to the Government ofEthiopia for their continuous support to Allana's potash project."
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on theacquisition and development of potash assets internationally with itsmajor focus on a previously explored potash property in Ethiopia withInferred Mineral Resource of over 100 million tonnes of potashmineralization (Sylvite and Kainite) with a composite grade of 20.8 %KCl (see News Release Sept. 17, 2008). Allana has approximately 118.5million shares outstanding and trades on the TSX-Venture exchange underthe symbol "AAA".
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VPExploration, is a Qualified Person as defined under National Instrument43-101 and has reviewed and approved the technical information presentedin this release.
Forward-Looking Statement
Except for statements of historical fact relating to theCompany, certain information contained herein constitutes"forward-looking information" under Canadian securities legislation.Forward-looking information includes, but is not limited to, statementswith respect to the effect of the analyst tour on the Company, estimatedproduction, the estimation of mineral reserves and mineral resources;the realization of mineral reserve estimates; the timing and amount ofestimated future production; costs of production; capital expenditures;success of exploration activities; permitting time lines and permitting,mining or processing issues; government regulation of miningoperations; environmental risks; unanticipated reclamation expenses;title disputes or claims; litigation liabilities; limitations oninsurance coverage and the effect of terminating the investor relationscontract. Generally, forward-looking information can be identified bythe 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 statements thatcertain actions, events or results "may", "could", "would", "might" or"will be taken", "occur" or "be achieved". Forward-looking statementsare based on the opinions and estimates of management as of the datesuch statements are made and they are subject to known and unknownrisks, uncertainties and other factors that may cause the actualresults, level of activity, performance or achievements of the Companyto be materially different from those expressed or implied by suchforward-looking statements or forward-looking information. Althoughmanagement of the Company has attempted to identify important factorsthat could cause actual results to differ materially from thosecontained 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 statementswill prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such statements.Accordingly, readers should not place undue reliance on forward-lookingstatements and forward-looking information. The Company does notundertake to update any forward-looking statements or forward-lookinginformation that are incorporated by reference herein, except inaccordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICESPROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTUREEXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THISRELEASE