FED Agriminco Corporation

Further to its press release of April 22, 2013, Ethiopian Potash Corp. (the
"Company" or "EPC") (TSX VENTURE:FED) announces that it has reached an agreement
with Premier African Minerals Limited ("PREM") for the acquisition by EPC of
PREM's phosphate properties in Togo, as well as to amend certain terms of its
acquisition from PREM of the Taoudeni and Oglat properties in Mali.


Togo Acquisition

Subject to the completion of certain transactions pursuant to definitive
agreements (the "Definitive Agreements") in respect of, among other things, the
early exercise of EPC's option to acquire G and B Central African Resources Ltd.
("G&B") and the forming of a joint venture between EPC and Danakil Potash
Corporation, (the "Transactions" as further described in EPC's press release of
April 22, 2013), EPC will acquire all of the issued and outstanding shares (the
"Togo Acquisition") of G and B African Resources SARL ("G&B Togo") in exchange
for EPC issuing PREM 100 million EPC common shares. G&B Togo is a wholly-owned
subsidiary of PREM and the holder of exploration permits located in northern and
southern Togo for the exploration of phosphate, attapulgite clay and rare earth
metals.


EPC's acquisition of such permits will be subject to the satisfaction of all
related conditions precedent (which include TSX Venture Exchange ("TSXV") and
shareholder approvals). In the event that the Togo Acquisition is ultimately
completed, PREM shall be entitled to nominate 2 directors to the board of EPC
whilst PREM's shareholding remains above 30% of the issued share capital of EPC.



PREM is a mineral exploration and development company of which G&B's sole
shareholder, ZRH Nominees (0105) Ltd. is a principal shareholder, and George
Roach and Pamela Hueston are directors. PREM will become a "control person"
pursuant to applicable securities laws and the policies of the TSXV as a result
of the completion of the Togo Acquisition, holding approximately 40% of the
issued and outstanding common shares of the Company. Under the rules of the TSXV
disinterested minority shareholder approval of the Togo Acquisition is required
and PREM becoming a control person of EPC will be required. As PREM is admitted
to trading on AIM, the sale will also need to comply with the AIM Rules and
other regulatory requirements in the United Kingdom.


The Company has called an annual and special meeting of its shareholders to be
held on June 30, 2013, to consider and approve, among other things, the Togo
Acquisition, PREM becoming a control person of EPC and the other Transactions
(including pursuant to the amended Mali Acquisition agreement). The management
information circular mailed to shareholders in connection with the meeting will
contain additional disclosure relating to the Togo Acquisition and the
Transactions.


Mali Acquisition

At the request of the TSXV, EPC and PREM have also agreed to close EPC's
acquisition from PREM of its wholly-owned subsidiary, G and B African Resources
Mali SARL (the "Mali Acquisition"), in escrow, the terms of which include a
mechanism for unwinding the transaction in the event the escrow release
conditions are not satisfied prior to June 30, 2014. 


In order for escrow to be released, EPC must deliver to the TSXV a Canadian
National Instrument 43-101 Technical Report and title opinions, each in form and
substance satisfactory to the TSXV. In the event that these release conditions
are not satisfied by June 30, 2014, the escrow arrangements will thereafter
terminate and each of EPC and PREM will re-convey or return to the other the
securities that were subject to escrow, thereby effectively cancelling the Mali
Acquisition.


The amendments were required by the TSXV in light of the current civil unrest
and war-like conditions in northern Mali, and the declaration by the Ministry of
Mines (Mali), on an exceptional basis, of a moratorium on the two Taoudeni and
Oglat exploration authorizations. Such moratorium prevents both access to the
properties, which is required in order to complete the requisite technical
report, and the ability to obtain renewed (or updated) licenses, which are
required in connection with the requisite title opinions. EPC anticipates that
it will be able to obtain new licenses and the requisite technical report
shortly after the moratorium is lifted. However, there is no guarantee that the
moratorium will be lifted within the required time or that new exploration
licenses or the requisite title opinions will be obtained within the required
time.


Filing of Agreements

The Togo SPA and the amended Mali Acquisition agreement will be filed and made
available under EPC's SEDAR profile at www.sedar.com. 


About Ethiopian Potash Corp. 

Ethiopian Potash Corp. (TSX VENTURE:FED) is a Canadian company based in Toronto,
Ontario and Addis Ababa, Ethiopia. 


On behalf of the Board of Directors

George Roach, CEO & Director

Forward-Looking Information

This press release may contain forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. All statements
that address future activities, events or developments that EPC believes,
expects or anticipates will or may occur (including, but not limited to, the
Transactions (including the Mali Acquisition) and the Togo Acquisition, as well
as the expected terms and conditions of each such transaction) are
forward-looking information. Forward-looking information is based upon
assumptions by management that are subject to known and unknown risks and
uncertainties and other factors that may cause actual results to differ
materially from those expressed or implied by the forward-looking information.
Factors that may cause actual results to vary materially include, but are not
limited to, the failure to satisfy all conditions precedent to the Transactions
(including the Mali Acquisition) and the Togo Acquisition within the requisite
time, including (without limitation) obtaining the requisite third-party
consents, TSXV approval of the Transactions (including the Mali Acquisition) and
the Togo Acquisition, shareholder approval of the Transactions (including the
Mali Acquisition) and the Togo Acquisition, satisfying the Mali Acquisition
escrow release conditions within the requisite time, satisfying the Togo
Acquisition escrow release conditions or failing to maintain financial covenants
in the Togo SPA, and changes in general economic conditions or conditions in the
financial markets. Such forward-looking information is based on a number of
assumptions, including but not limited to, the ability of the parties to satisfy
all applicable conditions precedent to the completion of the Transactions
(including the Mali Acquisition and the escrow release conditions thereto) and
the Togo Acquisition (and the escrow release conditions thereto), there are no
material changes to the terms of any proposed transaction, and no significant
decline in existing general business and economic conditions. There can be no
assurance that the Transactions (including the Mali Acquisition) or the Togo
Acquisition will be completed as currently proposed or at all. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company undertakes no obligations to update publicly or otherwise revise any
forward-looking information, except as may be required by law. For a more
detailed discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements, refer to EPC's filings with the Canadian securities
regulators available on www.sedar.com. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ethiopian Potash Corp.
George Roach
Chief Executive Officer and Director
+44 779 626 3999
george@regentresources.co.za


Ethiopian Potash Corp.
Michael Galloro
Chief Financial Officer
416 907 5644

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