Verde Potash Selected to Advance in Inova Agro Funding Process

About BNDES

The Brazilian Development Bank (BNDES), a state-owned company, is the main financing institution for development in Brazil. Since its foundation in 1952, the BNDES has played a fundamental role in stimulating the expansion of industry and infrastructure in the country. Over the course of the Bank's history, its operations have evolved in accordance with the Brazilian socio-economic challenges; today they include support for exports, technological innovation, sustainable socio-environmental development and the modernization of public administration.

The Bank offers several financial support mechanisms to Brazilian companies of all sizes as well as public administration entities, enabling investments in all economic sectors. In any supported undertaking, from the analysis phase up to the monitoring, the BNDES emphasizes three factors it considers strategic: innovation, local development and socio-environmental development.

About FINEP

The Financing Agency for Studies and Projects (FINEP) is a state-owned company under the Brazilian Ministry of Science and Technology that promotes economic and social development by fostering innovation in public and private companies, universities, technological institutes and other public and private institutions in the country.

Founded in 1967, the organization has funded thousands of successful initiatives, including the development of Embrapa, Brazilian agribusiness projects, oil exploration and development of the aircraft Embraer Tucano.

Management Appointment

The Company is pleased to announce the appointment of Mr. Tim Slater as Chief Financial Officer. Mr. Slater is the Managing Director of Harmer Slater Chartered Accountants in the United Kingdom, and has been involved in the preparation of all of the Company's financial statements and audit materials since 2007. Mr. Slater has acted as Finance Director for a range of companies in the UK.

The Company also wishes to announce the retirement of Mr. Henrique Cavalcanti as a Director of the Company. Mr. Cavalcanti has served the Board diligently over the past four years. He is retiring from public company duties at the age of 84 after a long and distinguished career that included service as Brazil's Minister of the Environment (1994), Deputy Minister of Mines (1967-69) and Deputy Minister of Interior (1969-1974).

About Verde Potash

Verde Potash, a Brazilian fertilizer development company, is focused on advancing the Cerrado Verde project located in the heart of Brazil's largest agriculture market. Cerrado Verde is the source of a potash-rich deposit from which the Company intends to produce both ThermoPotash and potassium chloride (KCl). ThermoPotash is a controlled-release, non-chloride, multi-nutrient fertilizer that is ideally suited for Brazilian soils. In addition, the Company is developing its Calcario limestone project, limestone being a key raw material in the Company's process to produce both ThermoPotash and KCl.

About the Cerrado Verde Potash Project

Cerrado Verde is a unique project: 1) its high grade potash rock outcrops and is amenable to strip mining, allowing fast construction of a scalable operation; 2) it is located in the midst of the world's third largest and fastest growing fertilizer market; 3) it connects to Brazil's largest fertilizer distribution districts via existing and high quality infrastructure; 4) it has the potential to supply both ThermoPotash and KCl to Brazil's local agriculture market from its large potash-rich deposit.

    Forward Looking Information

    This news release contains certain forward-looking information, which
    includes but is not limited to, statements with respect to the Company's
    strategy, funding of the Cerrado Verde project, the commercial production
    of ThermoPotash and KCl, design and building of a Flex Plant, timing and
    completion of a prefeasibility study, receipt of environmental permits,
    and the generation of cash flow from Phase 1 of the new strategy.
    Forward-looking information involves known and unknown risks,
    uncertainties and other factors which may cause actual results,
    performance or achievements of the Company to differ materially from the
    forward-looking information. Material risk factors that could cause actual
    results to differ materially from such forward-looking information
    include, but are not limited to, the failure to obtain necessary
    regulatory approvals, failure to receive funding from Inova Agro, failure
    to obtain financing on acceptable terms, risks associated with the mining
    industry in general (e.g., operational risks in development, exploration
    and production; delays or changes in plans with respect to exploration or
    development projects or capital expenditures; the uncertainty of estimates
    and projections relating to production, costs and expenses, and health,
    safety and environmental risks), commodity price, demand for ThermoPotash
    and KCl in Brazil, exchange rate fluctuations and other risk factors set
    out in the Company's most recently filed Annual Information Form under the
    heading "Risk Factors". Currently, ThermoPotash is not commercially
    produced or sold in Brazil. As a consequence, there is no current market
    for this product. Should commercial demand for ThermoPotash fail to
    develop, the Company's business model may not be appropriate. Accordingly,
    readers should not place undue reliance on such forward-looking
    information. Material factors or assumptions used to develop such
    forward-looking information include, but are not limited to, the demand
    for ThermoPotash and KCl in Brazil, the ability to secure necessary
    environmental and mining permits, the ability to secure financing, and
    other assumptions set out in the Company's current technical report. The
    Company does not currently intend to update forward-looking information in
    this news release except where required by law.

For additional information please contact:

Cristiano Veloso, President & Chief Executive Officer, Tel: +55(31)3245-0205, Fax: +55(31)3245-0205, Email: cv@verdepotash.com

http://www.verdepotash.com

Jaret Anderson, CFA, VP Corporate Development, Tel: +1(416)866-2966 ext. 223, Fax: +1(416)866-8829, Email: ja@verdepotash.com