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A new Approach to Potash Production

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Disclaimer

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This presentation contains certain forward-looking statements relating, but not limited, to Gensource Potash Corporation expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “estimate”, “may” and “will” or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, costs of capital projects and timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the recovery of resources varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or

• ther project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the

development of projects and other factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. Shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Gensource undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. This caution is provided in accordance with the requirements of Parts 4A and 4B of National Instrument 51-102 Continuous Disclosure Obligations, respecting disclosure of forward looking information. 14

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CONTENTS:

• Who is Gensource
• Gensource Potash:
• Strategy / Business Model
• Plans / Projects
• Update / Status
• Investment Opportunity

Appendix – State of the Potash Industry / Market

Introduction

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Who is Gensource?

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www.gensource.ca Gensource Potash Corporation (TSX.V: GSP)

• Publicly traded potash development company

(GSP: TSX-V)

• Potash- and Saskatchewan-focused: 100%
• Management team that has done this before
• Building a Potash- and Saskatchewan-focused

Board of Directors

• Advisory Board: World Class Expertise
• Project locations where the “right” potash is, not

where the KP’s happen to be available

Gensource Potash Corp.

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www.gensource.ca Gensource Potash Corporation (TSX.V: GSP)

Goal: Using the expertise of the Management Team and Advisory Board, GSP will:

• implement a 21st century potash development in

Saskatchewan, becoming the next independent potash producer – and vertically-integrated marketer.

• use techniques and technologies that are not rooted in the

early 20th century and which use less energy, less water and require smaller initial capital expenditure

• in the coming decades (things move slowly in the potash

industry), disrupt the existing potash industry operations and project development norms – by showing what is possible when up-to-date extraction techniques are employed within an innovative business model by a team of experts.

Gensource Potash Corp.

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www.gensource.ca Gensource Potash Corporation (TSX.V: GSP)

Mike Ferguson, P.Eng., President & CEO. Mike led the Potash One team that developed the Legacy project– the only Saskatchewan greenfield potash development to proceed. Rob Theoret, B.Comm., CIM, CFO. Co-founder of Nexxt Potash and has successfully financed several local junior development companies. Deborah Morsky, VP Corp. Services. Deborah brings 25 plus years of family business leadership and experience as a professional in insolvency and financial restructuring. Kerny Korchinski, Director. Kerny is an accomplished Saskatchewan entrepreneur building a private business from conception to $100 million in annual revenue. Paul Martin, Director. Chairman of Charlton Communications Saskatchewan's largest public relations firm specializing in communications strategy and support, media relations, government relations, event planning and strategic advice.

Gensource – Management and Board

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Max Ramey, PE, Solution Mining. Max was the technical drive behind the Legacy Project. With his extensive experience and track record in operations and design of solution mining facilities, Max is a world-class expert in high demand. John McEwan, PE, Processing. John created the process design for the Legacy project based on his almost 40 years in the mining industry. With solution processing expertise in many minerals under varied chemical conditions, John leads the effort to move processing techniques into the 21st century. Sandy Debuscherre, Drilling. Sandy is the most well-known and sought-after drilling design and execution consultant in the province, with extensive experience in oil & gas and potash exploration and operational drilling. Sandy’s expertise extends to horizontal drilling and solution mining-specific aspects of drilling and casing operations. Steve Halabura, P.Geo., FEC (Hon), Director, Geology. Steve is the pre-eminent geologist in the Prairie Evaporite. Steve was responsible for siting Legacy (Potash One/K+S), Jansen Lake (BHP-B), Burr (Athabasca Potash) and more. Jim Elliot, Strategic Business Advisor. Jim founded Tron Power in northern Saskatchewan and led the development of that company into arguably the most successful First Nations owned construction contracting company in western Canada.

Gensource – Advisory Board

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Gensource Potash

(TSX.V:GSP)

Business Model – the “How”

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Business Plan – KEY MESSAGES

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• 1. Any new potash development needs a 3-legged stool as a foundation.

a 3-legged stool = VERTICAL INTEGRATION

• 2. There is a better way to mine and process potash (See Technologies)
• 3. A new potash development in Saskatchewan doesn’t need to be the now-

standard 2.8–4.0 Mt/a, $4 Billion project. This statement follows from point 2,

• above. Why? – because current Potash developments are:
• too capex intensive and therefore risk-heavy
• too time-consuming to develop (7-10 years…)
• too large (marketing concerns for 2.8 – 4.0 million tonnes of product)
• too wasteful, especially regarding the potash resource in the ground,

water, power and natural gas

• 4. Success requires new approaches in almost all aspects of a project, from

mining to processing to transportation to marketing. Success of a Gensource project has the potential to disrupt the current industry.

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Business Model - Potash 2.0

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Producing Facility

Direct- ship Logistics System

Potash end- Users Vertically Integrated Business Structure

The 3-Legged Stool

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Business model Foundations:

• Leg 1 – Market Access.

The market for potash is not an open one. There is no organized exchange for the commodity and private sales between the few large suppliers/sales organizations and regional or national distributors set benchmark prices each year. The ultimate distribution of potash in the consuming regions is just as concentrated as the production with often only a handful of organizations controlling the distribution of the product in many large market areas.

• Leg 2 – Execution Expertise.
• The team. No new mine in Saskatchewan has been brought to production since

1972, so engaging the right team to develop the project becomes critical to success. Gensource represents the re-assembly of the one team that has developed a new mine to the point of construction in the province – the Legacy Mine, now owned and being constructed by K+S Potash Canada.

• The projects. Saskatchewan has an abundance of potash, but where is the best

location to site a new mine? Surprisingly, not where exploration permits (KP’s) are available.

• Leg 3 – Financing.

The typical cost of a new 3 Mt/a facility is in the $ 3.5-4.0 B range. Gensource’s novel approach to potash development is staged and vertically integrated, resulting is significantly less initial capex - financing becomes a much more attractive proposition.

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Saskatchewan Crown Reserve and Permit Positions

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Start of Land Rush Era … End of the Land Rush Era:

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Currently ~ 11 million acres

• Many large proposed projects
• Speculative “flip” business models
• Projects use old, early- to mid- 20th

century technology, because that is “how it is done”

• “Potash 1.0” permits will begin

to revert to Crown

Originally ~ 800,000 acres

• Crown potash reserve wide open
• Only existing producers have mineral

leases

• Extensive land staking rush begins 2005/6
• New players with limited technical

knowledge (speculators) enter.

1960’s - 2005 2013

April 2013 13

“Potash 2.0” – Starts 2013

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Features:

• No further KP’s (Exploration Permits for Potash) available through the

provincial government

• New mineral exploration paradigm – the SK Government considers new

regulations making it very expensive to obtain and maintain a potash permit (KP). Result:

– Sure to keep out all but very deep-pocketed mining companies.

• “Potash 1.0” (the traditional way of developing a mine) is dead and

“Potash 2.0” becomes the only rational way to enter the industry, and requires:

– Updated mining and processing technologies for the 21st century – Departure from the typical “junior mining” development approach:

• Market partners engaged in the project at the outset – VERTICAL INTEGRATION
• Focus on reaching production, rather than a “develop and flip” plan
• Rational project specifications and plans to fit the identified market (not every new mine needs to

be the same 3 Mt/a capacity design)

• Staged approach – with up-to-date techniques, small scale production becomes economical.

More importantly – “FINANCE-ABLE” e.ca 14

Technologies

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“Potash 2.0” developments must deal with the issues identified during the past 50+ years of operation in SK (and exacerbated by the recent “rush”)

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Issue Discussion Significant salt tailings stored on surface for indefinite (infinite?) periods

• f time

Resolution of the problem for existing operations is difficult. Using mining methods that leave all or most of the salt underground provides advantages to new operations. Large fresh water consumption Existing mining methods consume very large volumes of fresh water delivered from surface sources, solution mining more so than conventional mining. Methods to increase re- circulation and prevent creation of excess brine will significantly reduce fresh water use. Energy consumption, particularly for evaporation-crystallization solution mining operations is very large Thermal processes consume large amounts of energy – new approaches driving for energy reduction, and elimination of evaporation step, result in not only reduced operating costs but lower carbon footprint as well.

Technologies

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Gensource is utilizing technologies that should result in a 21st Century facility that operates as follows:

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Brine Processing and Crystallization Plant

Solution mining well field

KCl-rich brine KCl-depleted brine Fresh water Power Gas

Local Utilities

(lower consumption Than current technologies)

Water Vapour Storage Solid KCl (potash)

• Nat. Gas

products of combustion

Potash to Market

NaCl Tailings

“Industrial” non-potable water

Typical Saskatchewan Solution Mining Math

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Calculation Range Typical Length 1610 meters 1610 meters x Width 1610 meters 1610 meters x Thickness 30- 35 meters 30 meters x Grade 22-28% 25% x Specific Gravity 2.14 2.14 x Process Losses 5-10% 10% x Anomaly Losses 15-30% 25% x Extraction Ratio 30-40% 35% = Total Potash product / section 9.8 million tonnes

A small 20,000 acre area could provide: 300 million tonnes Mine Life 100 + years

The right resource and land package required to provide a long mine life

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Example:

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Lazlo Potash Project

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The Lazlo project is made up of Freehold mineral leases (21 years), with a novel approach to engaging the surrounding minerals.

• Comprises a gross area of up to 123,000

acres

• Several mining blocks of 20,000 ac each are

possible

• Freehold mineral leasing is on-going
• 3 on-property historic drill holes
• Historical NI43-101indicates excellent

grades, thickness and temperatures

• Solution mining target

*GSP freehold mineral leases in both Lazlo and Lothar – over 12,500 ac.

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Lothar Potash Project

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This project is made up of Freehold mineral leases (21 years), with a novel approach to engaging the surrounding Minerals.

• Comprises up to 42,000 acres
• 1 or 2 mining blocks of +/- 20,000

ac each possible

• 2 on-property historic drill holes
• Historical NI43-101 indicates

strong grades and good thickness

• Freehold mineral leasing is on

going

• Solution mining preferred.

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Investment Opportunity

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Investment Opportunity

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1. Global potash consumers are looking for a long term stable supply of potash 2. Saskatchewan has an estimated 3,000 + years supply of potash 3. Access to Market (Leg 1):

1. Through partnerships created in 2013, Gensource is signatory to 5 Letters of Intent with fertilizer distributors in China and one in Brazil. 2. Work continues with India-based fertilizer companies to create market partnerships. 3. Result: “Access to Market” moving ahead, negotiating formal off- take agreements. Leg 1 

4. GSP has assembled a world class project development team with direct potash mine development experience. Leg 2  5. Leg 3, Financing, is now underway on a sound foundation, not a typical junior mining foundation….

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OVERVIEW Schedule to Production

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Project Development Overview to Construction Decision, showing Financing

Lazlo Project Development – Financing

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Financing in 3 phases:

• Initial - $1.5M (Half now complete. The current Private Placement will

complete 2nd half.) - Goal: Entrench strategic investors

• Use of funds:
• Initial Seismic
• Preliminary Economic Assessment (PEA)
• Initiate EIS
• Working capital
• Second Phase Development - $15 – $20 M
• Use of funds:
• 2D and 3D Seismic
• Drill 3 holes, complete with coring and assay
• Engineering studies (PFS and FS)
• Complete Regulatory process
• Secure land position
• Capex
• $150 - $175M Capex (initial GSP estimates)

GSP Milestones – 2014

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GSP Action Items – remainder of 2014:

• Formally announce Advisory Board members



• Launch Private Placement



• Complete initial seismic program



• Secure project lands and announce

6

• Complete resource report on project lands



• Complete engineering studies confirming initial

GSP mine and process designs Fall ’14

• Complete Environmental Impact Statement

Spring’15

• Compile project finance plan

Fall ‘14

Typical Value Creation Curve

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Example of Value Creation With The Gensource Potash Team

*KP289 was identified and applied by Steve Halabura. *KP289 constituted Potash One’s Legacy project , which was led by Mike Ferguson to construction decision. *Nov 22nd, 2010, Legacy project/Potash One was acquired by K+S with 437 million dollars.

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Gensource Potash Corporation

www.gensource.ca Gensource Potash Corporation (TSX.V: GSP)

Shares outstanding – 127 million

• Fully Diluted 163 million
• Directors/Management and closely held ~ 20%
• Market capitalization ~ $8 million

Warrants Exercise Expiry 28,527,958 $0.05 01-03-2016 Stock Symbol GSP – TSX.V Share Price $0.07 (Sept 24, 2014) 52 Week High/Low $0.10 - $0.025 26 Options Exercise Expiry 7,941,748 $0.10 08-24-2016 & 01-23-2019

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APPENDIX State of the Potash Industry / Market

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Confusion Reigns Supreme

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Correlation – Grain The Main Driver

• Historically, grain demand has had the strongest relationship

with potash demand

• Grain / Potash Demand Correlation = 79%
• 2013E Potash Demand = 55 Mt/yr

10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 700,000 900,000 1,100,000 1,300,000 1,500,000 1,700,000 1,900,000 2,100,000 2,300,000

Potash Demand (Kt) Grain Demand (Kt)

Potash Demand Vs. Grain Demand

Potash Demand (Kt) = 11,522 + 0.017*[Grain Demand (Kt)] R² = 62% www.gensource.ca Gensource Potash Corporation (TSX.V: GSP) 29

Historical Demand

Potash demand posted a Compound Annual Growth Rate (CAGR) of 3.6% from 1950 to 2008. Implication: Potash Demand Grows ≈ 2 Mt/year

10000 20000 30000 40000 50000 60000 1950 1952 1954 1956 1958 1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010E

Potash Consumption

1950-2008 CAGR = 3.6% 1991-2008 CAGR ~ 3 %

Potash Consumption ('000 Product Tonnes)

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Source: Integer Research Limited

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Global Potash Industry

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Current Market Situation

• Global supply is dominated by a few major players
• Potash consumption is growing at 3% annually ( source PCS)

– But, this is not supported by the data in recent years.

• The current global market is approx. 55 million tonnes
• Global potash demand could increase significantly as substantial

tracts of farm land currently receive much less than optimum fertilizer application

• 2013 was a difficult year for potash

– Russian-Belarusian company BPC breakup – Uralkali increasing production – Prices dropping quickly – General uncertainty

• Prices seemed to bottom in early 2014 at $305/t

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Historical Potash Prices

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2-3x Price Increase

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$305

Potash Demand & Supply

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Current world potash production and demand (2012)

32% 19% 15% 9% 5% 8% 4% 8%

Potash Production by Country

Canada Russia Belarus Germany Israel China Jordan Rest of World

20% 16% 14% 9% 10% 8% 23%

Potash Demand by Country

China USA Brazil India Oceana Europe Other

Source: Integer, Gensource Potash Corp

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Contact

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Mike Ferguson, P.Eng. President & CEO Gensource Potash Corp. Suite 1100, 201 1st Ave. South Saskatoon, Saskatchewan mike@gensource.ca 306-974-6414

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Rob Theoret, B.Comm., CIM CFO Gensource Potash Corp. Suite 1100, 201 1st Ave. South Saskatoon, Saskatchewan rob@gensource.ca 306-974-6406