SN Sennen Potash Corporation

Sennen Resources Ltd (TSX VENTURE:SN) ("Sennen" or the "Company") notes Liberty
Silver Corp.'s ("Liberty") offer issued on July 16, 2012 (the "Liberty Offer").
The Board of Directors of Sennen has carefully reviewed and considered the
Liberty Offer and their UNANIMOUS recommendation to Sennen Shareholders is to
REJECT the Liberty Offer and NOT TENDER their Sennen Shares, and that any Sennen
Shareholder who has tendered their Sennen Shares to the Liberty Offer should
formally WITHDRAW those Sennen Shares.


In unanimously concluding that the Liberty Offer is inadequate and not in the
best interests of Sennen Shareholders, the Board of Directors, upon the
recommendation of a Special Committee of the Board, and with a written opinion
from Jennings Capital Inc. ("Jennings"), and in consultation with technical
consultants, identified a number of negative aspects of the Liberty Offer as
being most relevant, including the following:


Sennen is Better Positioned to Maximize the Value to Sennen Shareholders. 



--  In the current market and investment climate the most important asset a
    junior company could have is cash. Sennen has $13.5 million and no debt,
    and this is of significantly greater value than any merger arrangement
    that grants Sennen Shareholders effectively a 13% interest in an
    unproven mineral prospect in a company with very little cash. 
--  Sennen's business strategy is to identify mineral resource properties
    for acquisition, exploration, development and production or sale, and it
    has been successful with this strategy. The Board believes Sennen can
    continue being successful utilizing Sennen's current cash reserves, in a
    market where cash has become a lot more valuable, than participating in
    an early stage, high risk exploration endeavour. 
--  Sennen's management and Board of Directors combined have over 125 years
    of relevant experience in the mining and mineral exploration industry.
    With $13.5 million cash and no debt, the Company is now in a perfect
    situation to take advantage of the solvency crisis that many junior
    exploration companies find themselves in. 
--  The Board believes that Sennen Shareholders will receive greater value
    by permitting Sennen to execute its business plan and strategies than by
    exchanging their Sennen Shares for an approximate 18.8% stake in Liberty
    that would effectively convert to only a 13% interest in the Trinity
    Silver Project, or significantly less after dilution, if Liberty can
    retain its interest in it. 



Liberty is Unable to Raise Cash.



--  The only asset which Liberty covets is Sennen's $13.5 million in cash.
    Liberty has indicated that they require Sennen's cash because they are
    unable to source capital from sophisticated investors or in any other
    manner. 



Sennen Shareholders Would Be Contributing Substantially More Than They Would
Receive.




--  The Liberty Circular indicates that Sennen Shareholders would receive an
    18.8% equity interest in Liberty. In contrast, Sennen Shareholders will
    contribute over 84% of the pro forma cash assets and over 82% of the pro
    forma assets. The 18.8% equity interest being offered to Sennen
    Shareholders is insufficient compensation for Sennen's contribution to
    the pro forma assets and cash of the combined company as proposed by
    Liberty. 
--  Readers are referred to the Directors' Circular of Sennen which will be
    filed SEDAR for a schematic of the respective contributions of Sennen
    and Liberty.



Liberty's Trinity Silver Project is of Unknown Value and of No Interest to Sennen



--  Liberty only has the right to earn a 70% interest in Trinity by spending
    $5,000,000 and completing a bankable feasibility. Newmont retains a
    'back-in' right, or will receive a 5% NSR on all mineral production, and
    it is uncertain whether additional royalties apply to the property. 
--  The discrepancies in assay values and the lack of QA/QC programs for the
    majority of the data as detailed in the Trinity technical report is of
    concern, and in that technical report, the authors acknowledge that they
    are ..."concerned about the accuracy of the USBRC analyses..that
    represent 82% of the values used in the Inferred resource estimation." 
--  Liberty does not own certain very important claims located in the middle
    of the Trinity area that cut off the mineralized zone to the east. 
--  The inferred mineral resource in the oxide zone at Trinity is only 1.9M
    tons at 1.37oz/ton silver for contained ounces of silver of 2.6M, with
    no metallurgical and/or mine planning data for input into a bankable
    feasibility level study. 
--  Liberty has stated that "Trinity is being prepared for potential near-
    term production", which appears premature based on an inferred resource
    with no supporting metallurgical, environmental and engineering
    information to provide for technical and economic evaluation having been
    communicated to the market. This contradicts Liberty's repeatedly quoted
    "risk-mitigation" and/or alternatively its "mitigated-risk" strategy. 
--  Trinity appears to represent a high risk venture requiring significant
    expenditures on exploration, engineering and environmental work, as well
    as a permitting process of an unknown period that would involve the BLM,
    the Nevada Department of Conservation and Natural Resources, as well as
    various other stakeholders. 
--  Sennen Shareholders would be incurring significant technical and
    financial risk in participating in what amounts to a 13% net interest in
    Trinity based on Liberty only being entitled to acquire a 70% interest
    in the project, which net interest would most likely be reduced as a
    result of future financing requirements. 



Liberty has Limited Operating History; Sennen has a Track Record of Success.



--  Liberty claims to have a "seasoned management team and accomplished
    independent board of directors" and a "proven track record". In reality,
    Liberty's only successes to date have been limited to acquiring an
    'earn-in' on an exploration stage mineral property and completing a very
    modest capital raising. 
--  The Liberty Board and management team appear to have a limited track
    record in the junior mining sector and Liberty finds itself in a
    difficult financial predicament. 
--  Sennen has a proven Board of Directors and management team with a track
    record of successfully acquiring, financing, developing and operating,
    or selling, mineral resource properties. This has placed Sennen, with
    its strong treasury, in an excellent position to take advantage of
    current market weakness. 
--  Sennen's management team and Board have successfully raised over $1
    billion for junior to mid-level mineral exploration, development and
    production stage companies, in varying market conditions and the Board
    believes that current management will continue to be successful in the
    future. 



Liberty has Issued 68,400,000 Shares at an Effective Price of Less than $0.01.



--  Sennen notes that Liberty issued 68,400,000 shares, representing over
    85% of the Liberty Shares, at prices between $0.00005 and $0.0025 per
    share (between one two hundredth of one cent and one quarter of one
    cent per share) taking into consideration the 20-for-1 split of Liberty
    shares in February 2010. If Sennen Shareholders accept the Liberty
    Offer, the shares they receive will be issued at a price higher than 98%
    of the shares issued by Liberty, and at a premium of over 14,000%
    (fourteen thousand percent) to such shares. 



Management's Financial Commitment



--  Liberty refers to the high ratio of its shares held by its directors and
    officers (28%), relative to the ratio of Sennen Shares held by Sennen
    directors and officers (approximately 11%). Given the average price paid
    to the treasury of Liberty of less than one cent per share, it is
    understandable that Sennen directors are sceptical of the financial
    commitment of Liberty's management. Compare this with Sennen's
    management who recently purchased 2 million shares in the market at a
    cost of approximately $0.18 per share, clearly indicating a
    significantly larger financial commitment in Sennen than the management
    of Liberty have in their company. 
--  The prices at which officers and directors of Liberty acquired their
    Liberty Shares is not publicly available as Insider Reports filed by
    such directors and officers in Canada do not include this information on
    initial filing, and Sennen has been unable as yet to find their US
    insider filings. Sennen invites Liberty to disclose this information in
    the interests of full and fair disclosure to Sennen Shareholders.



The Liberty Offer is Financially Inadequate



--  The Sennen Board of Directors and the Special Committee have received a
    written opinion dated July 30, 2012 from Jennings to the effect that the
    Liberty Offer is inadequate from a financial point of view to Sennen
    Shareholders. 



Rejection of Liberty Offer by Sennen Directors, Officers and Significant
Shareholders 




--  The directors and officers of Sennen who hold an aggregate of 12M Sennen
    Shares on a fully diluted basis have advised Sennen that they will not
    tender any of their Sennen Shares to the Liberty Offer. 
--  Subsequent to receipt of the Liberty Offer, the Company has received
    written confirmation from the holders of approximately 36.2M Sennen
    Shares, representing approximately 54% of the Sennen Shares on a fully
    diluted basis, who have advised the Company that they REJECT the Liberty
    Offer and will NOT tender their shares. 



Recommendations



--  The Board of Directors of Sennen believes that the Liberty Offer is
    financially inadequate and fails to recognise the full value of Sennen's
    assets. 
--  The Board of Directors of Sennen unanimously recommends that Sennen
    Shareholders REJECT the Liberty Offer and NOT TENDER their Sennen
    shares. 
--  The Board of Directors of Sennen recommends that any Shareholder who has
    tendered their Sennen Shares to the Liberty Offer should WITHDRAW those
    Sennen Shares.



Stated Ian Rozier, President and CEO of Sennen, "We regard the Liberty shares as
being significantly overpriced with respect to the value of their assets, and
this offer represents significant downside risk for Sennen shareholders. It is
of no interest to Sennen's Board, management, and major shareholders."


The Board's recommendation to Sennen shareholders that they REJECT the Liberty
Offer and DO NOT TENDER their Sennen Shares, as well as a more detailed
discussion of the reasons for rejecting the Liberty Offer and the written
opinion provided by Jennings is contained in the Directors' Circular that will
be mailed to each of Sennen's shareholders and filed with Canadian securities
regulatory authorities. The Directors' Circular will be available on SEDAR at
www.sedar.com. Shareholders are advised to read the Directors' Circular
carefully and in its entirety, as it contains important information regarding
Sennen, Liberty and the Liberty Offer.


How to Withdraw Tendered Sennen Shares

To reject the Liberty Offer, you should do nothing. The Liberty Offer is open
for acceptance until August 21, 2012. Shareholders who have already tendered
their Sennen Shares to the Liberty Offer can withdraw them at any time before
they have been taken up and accepted for payment by Liberty. Shareholders
holding shares through a dealer, broker or other nominee should contact such
dealer, broker or nominee to withdraw their Sennen Shares. Shareholders may also
contact the information agent retained by Sennen, Georgeson Shareholder
Communications Canada Inc., North America toll free at 1-888-605-8405, or call
collect outside North America at 1-781-575-2182 or via email at
askus@georgeson.com. 


Forward-Looking Statements 

Certain statements contained in this news release constitute "forward-looking
statements" and "forward-looking information" (as defined in applicable
securities legislation) and are prospective in nature. These statements refer to
future events and include information concerning the Liberty Offer, the
business, operations, prospects and financial performance of Sennen, the ability
of Sennen to identify, acquire and successfully develop additional mineral
properties, the combined company's requirement for and ability to raise future
capital, the technical difficulties expected in respect of the Trinity Silver
project, and market conditions for junior mining companies. These
forward-looking statements can be identified by the use of words such as
"anticipate", "could", "expect", "seek", "may", "likely", "intend", "will",
"believe" and similar expressions or the negative thereof. These forward-looking
statements reflect management's current views and are based on certain
assumptions including assumptions as to future economic conditions and courses
of action, as well as other factors management believes are appropriate in the
circumstances. 

The assumptions of Sennen contained or incorporated by reference into this news
release which may prove to be incorrect include, but are not limited to, (a)
that Sennen will not require additional financing and other resources in the
near term to execute its business plan and strategies, (b) that Sennen's current
board and management composition will not change in the near future, (c) the
accuracy of Liberty's documents publicly filed with securities regulatory
authorities in the United States and Canada, including the Liberty's technical
report for the Trinity Silver project, Liberty's financial statements and
Liberty's pro forma financial statements contained in the Liberty Circular, (d)
that market conditions for financing of junior mining companies will not change
in the short to medium term, and (e) that there is no material undisclosed
information in respect of the Trinity Silver project and Liberty. Such
forward-looking statements are subject to risks and uncertainties and no
assurance can be given that any of the events anticipated by such statements
will occur or, if they do occur, what benefit Sennen will derive from them. A
number of factors could cause actual results, performance or developments to
differ materially from those expressed or implied by such forward-looking
statements, including without limitation, actions taken by Liberty, actions
taken by the Sennen's shareholders, risks inherent in the exploration and
development of mineral properties, financing, capitalization and liquidity
risks, regulatory risks, environmental risks, the risk of fluctuations in the
Canadian/U.S. dollar exchange rate, insurance risks, competitive conditions,
agreements with other parties and third party reliance, employee recruitment and
retention, potential conflicts of interest, reliability of financial statements,
substantial volatility of share price, potential dilution of present and
prospective shareholdings, the timing and amount of future exploration
expenditures, capital requirements and operating costs for Sennen to implement
its business plan as well as those and risks and factors disclosed in Sennen's
documents filed from time to time with the securities regulatory authorities in
certain provinces of Canada. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results,
performance or achievements of Sennen, or industry results, may vary materially
from those described in this news release. Sennen disclaims any intention or
obligation to update or revise any forward-looking statements and information,
whether as a result of new information, future events or otherwise, except as
required under applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements or information.

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