Aug 16, 2011
UNION SECURITIES LTD. INITIATES ANALYST COVERAGE ON ALLANA POTASH CORP.
For Immediate Release: August 16, 2011
UNION SECURITIES LTD. INITIATES ANALYST COVERAGE ON ALLANA POTASH CORP.
Toronto, Ontario, August 16, 2011 -- Allana Potash Corp. (TSX-V: AAA) (OTCQX: ALLRF) ("Allana" or the "Company"), is pleased to announce that Union Securities Ltd. ("Union") has initiated analyst coverage of Allana. If you wish to receive a copy of the report directly, please contact Brian Mok, Union Securities at 416-775-5135 or bmok@union-securities.com
Allana's Ethiopia Potash Project is comprised of three mineral concessions totaling approximately 150 square kilometers in Ethiopia's northeastern Danakil Depression and Allana has the right to acquire a fourth concession for an additional 10 square kilometres. The project area is approximately 100 km from the Red Sea coast and the sea port of Mersa Fatma, Eritrea and 600 km via road from the deep water port of Djibouti. Allana's concessions have Measured and Indicated Resources totaling 673 Million Tonnes with 126 Million Tonnes of KCl and additional Inferred Mineral Resources of 596 Million Tonnes with 119 Million tonnes of KCl. Potash deposits of the Danakil Depression are unique due to their shallow depth and may be amenable to open pit or solution mining and solar evaporation. Additional drilling is ongoing which management believes will expand the resource base,increase confidence in the current resource and move mineral resources from the Inferred category to Measured and Indicated categories. Potash mineralization occurs in four potash horizons which can be processed to produce MOP and SOP products.
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has secured financial support from two significant strategic investors: IFC, a member of World Bank Group, and Liberty Metals and Mining, PLC, a subsidiary of Liberty Mutual Group. Allana has Measured and Indicated Sylvinite Resources of 97.8 million tonnes of 30.0% KCl; Inferred Sylvinite Resource of 108.3 million tonnes grading 31.3% KCl; Measured and Indicated Kainitite Resources of 284.2 million tonnes at 19.8%, Inferred Kainitite Resource of 271.2 million tonnes of 20.3% KCl; Measured and Indicated Upper Carnallitite Resources of 78.5 million tonnes grading 18.4% KCl, Inferred Upper Carnallitite Resource of 85.6 million tonnes of 17.1% KCl; Measured and Indicated Lower Carnallitite Resources of 212.6 million tonnes of 12.0% KCl, Inferred Lower Carnallitite Resource of 130.7 million tonnes grading 11.7% KCl. Allana has approximately 196.5 million shares outstanding and trades on the TSX-Venture Exchange under the symbol "AAA".
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes ''forward-looking information'' under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect of the coverage on the company, the impact and estimated timeline of the drilling and assay results, the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting, ; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; Generally, 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 statements that certain actions, events or results ''may'', ''could'', ''would'', ''might'' or ''will be taken'', ''occur'' or ''be achieved''. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. 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.
For Further Information, please contact:
Christian Scovenna
Investor Cubed
647 258 3311
or
info@investor3.ca
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