FED Agriminco Corporation

Ethiopian Potash Corp. ("EPC" or the "Company") (TSX VENTURE:FED)(TSX
VENTURE:FED.WT)(OTCQX:ETPHF) is pleased to announce the results for the first
six holes assayed on the Discovery Zone located in the Southwest Corner of its
Danakil Potash Project, Ethiopia. The drill hole locations are shown in the
following figures http://www.ethiopianpotash.com/map1.htm, the assay results are
summarized below:




Hole No.              Unit        From (m)    To (m)   Interval (m)     KCL%
                                                                            
DAL-002            Sylvite           82.00     86.50           4.50    34.21
                 including           83.50     84.50           1.00    44.48
                                                                            
                Carnallite           86.50     96.00           9.50    19.17
                                                                            
                   Kainite           96.00    104.50           8.50    16.37
                                                                            
                                                                            
DAL-004            Sylvite           92.50     98.50           6.00    32.98
                 including           94.00     95.00           1.00    44.48
                                                                            
                Carnallite           98.50    101.50           3.00    11.95
                                                                            
                   Kainite          101.50    114.00          12.50    16.66
                                                                            
                                                                            
DAL-007            Sylvite          134.50    137.50           3.00    37.20
                 including          136.00    136.50           0.50    44.17
                                                                            
                Carnallite          137.50    140.50           2.50    19.22
                                                                            
                   Kainite          153.50    163.50          10.00    19.20
                                                                            
DAL-008(i)      Sylvite(i)          164.50    165.50           1.00    25.65
                                                                            
                Carnallite          165.50    174.00           8.50    19.90
                                                                            
                   Kainite          174.00    176.50           2.50    16.50
                                                                            
DAL-006(i)      Carnallite           86.00     88.00           2.00    13.13
                                                                            
                   Kainite           88.00     89.00           1.00     4.63
                                                                            
DAL-005(i)         Kainite          131.50    136.50           5.00     0.88
                                                                            
NOTE: (i) Core sampling being extended to cover the upper portion of the    
potash bearing horizon.                                                     



The table above includes all sample assays contained within the reported
interval. Based on the assay results of holes DAL-002, -004 and -007, the
weighted composite average grade of KCL over the entire potash bearing horizon,
comprising the Sylvite, Carnallite and Kainite layers, is 21.3% KCL over an
average true width of 19.8m.


In addition, the assay results for holes DAL-005, -006 and -008 suggest that the
original sampling interval was too short; management has instructed the field
geologists to re- examine the drill core and extend the original sampling
interval into the hanging wall and footwall zones of the potash bearing
sequence. Based on the thickness of the sylvite zone intersected in hole
DAL-002, -004 and 007, management believes that the additional sampling will
identify sylvite mineralization.


Mr Wahl, President, CEO and Director stated: "I am very happy to be able to
report such high grade sylvite assays, considering that these holes were located
based on ready access prior to the construction of drill site access roads."


"Equally significant is that after almost four months, the flow of assay
information has started. EPC has completed 19 holes totalling 3,760.40 metres,
all of the holes have been logged, sampled, and shipped to Saskatchewan Research
Council for analysis. I look forward to reporting on additional assays as they
are received. Despite a slow start, due to weather and access related issues,
the accelerated construction of access roads and drill platforms has positioned
EPC to catch up to its peers in the Basin."


"The Company is now drilling Hole 20 and anticipates completing its program of
29 holes on the Southwest Discovery Zone in January. At that time, Ethiopian
Potash will be in a position to commission a new 43-101 compliant resource
estimate on its Southwest Discovery Zone. Concurrently, EPC will refocus the
drilling campaign on its shallow Colluli target area. Construction of the access
road from the Southwest Discovery Zone to the Colluli area is proceeding on
schedule."


About Ethiopian Potash Corp.

Ethiopian Potash Corp. (TSX VENTURE:FED)(TSX VENTURE:FED.WT)(OTCQX:ETPHF) is a
Canadian company based in Toronto, Ontario, and Addis Ababa, Ethiopia. Ethiopian
Potash controls 481 sq km of shallow mineralization potash development
concessions in the fairway of the Danakil Depression, Ethiopia. The Company has
an existing 128 mil tonne resource at 21% potash and is intent on aggressively
fast-tracking its properties to production.


Quality Control and Quality Assurance

The QA/QC program employed during the initial phases of the drill program has
been recently revised by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau
mbH to ensure that all sampling techniques and sample results meet international
reporting standards. The revised protocols for handling core samples begin with
securing the potash-bearing HQ-NQ-sized core at the drill site in plastic
poly-tubing which is then thermally sealed. Core is placed in plastic core boxes
and transported to EPC's camp for geological logging, geotechnical logging and
photographing. Significant intervals are dry cut in half using a specially
modified tungsten carbide bladed band-saw. Half core samples are then double
bagged and thermally sealed prior to transporting to Addis Ababa by EPC's air
charter. In this initial phase, halite blanks are randomly inserted into the
sample stream at a rate of 1 in 20 and sent for analysis with the core samples.
The remaining core is re-sealed in plastic poly-tubing and the core boxes
secured at EPC's exploration camp. Upon arrival in Addis Ababa, the core samples
are stored at EPC's office and then taken to the Ethiopian Ministry of Mines &
Energy where permission is obtained to export the samples. The bagged samples
are then carefully packed into boxes and shipped via DHL to the Saskatchewan
Research Council in Saskatoon and periodically reviewed by EPC's President and
CEO.


EPC is utilizing SRC's Potash ICP Analysis package designed for multi-element
analysis of potash samples. Upon arrival at SRC Geoanalytical Laboratories, core
samples are jaw crushed to 95 % passing at minus 2mm and 100 g sub sample is
split out using a riffler and transferred to vials. The subsample is pulverized
to 95 % passing at minus 0.106 mm using a puck and ring grinding mill to create
a pulp. The grinding mills are cleaned between groups using Quintus quartz. The
pulp is then transferred to a labelled plastic snap top vial. An aliquot of pulp
is placed in a test-tube with 15 ml of 30 degrees C DI water. The sample is
shaken. The soluble solution is analyzed by ICP-OES and the CL and Bro are
analyzed by ICP-MS. The soluble solution is then analysed by ICP-MS. In
addition, samples are analysed for Fe2O3 (wt%), Br and Cl by MS, plus
insolubles. SRC Geoanalytical Laboratories has been certified by the Standards
Council of Canada (SCC) to conform to the requirements of ISO/IEC 17025:2005
(CAN-P-4E). Additionally, SRC Geoanalytical Laboratories is currently being
assessed by the Standard Council of Canada for Potash analysis to the ISO/IEC
17025:2005 standard. The laboratory is expecting to have confirmation of the
accreditation next week.


David G. Wahl, P.Eng., P.Geo., ICD.D is a Qualified Person as defined under
National Instrument 43-101 and has reviewed and approved the technical
information presented in this release.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

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