🕐20.12.11 - 00:54 Uhr

POTASH MINERALS LIMITED [ASX: POK] - PLACEMENT TO RAISE $6 MILLION





Fortbridge Media Release

Potash Minerals Limited [ASX: POK] - Placement to raise $6 million

Potash Minerals Limited (ASX: POK) announces a placement to raise approximately $6 million from institutional and sophisticated investors.

Potash Minerals is completing an initial drill campaign that includes the drilling of 4 exploratory wells on State Lease locations in the state of Utah, USA. In conjunction with this drilling campaign the Company has executed a Memorandum of Understanding (MOU) with the Federal Bureau of Land Management (BLM) concerning exploration for Potash on Federal Lands at the Paradox Basin Project.

As a result of the MOU, Potash Minerals expects to obtain the Federal permits in the second quarter of 2012 which will enable drilling on the Federal Land targets.

Under the placement the Company will issue approximately 9.9 million shares at $0.60 each. The placement is being undertaken within the Company�s ASX Listing Rule 7.1 15% placement capacity.

An Appendix 3B in relation to the issue is attached.

For further information, please contact:

Ananda Kathiravelu
Chairman
Potash Minerals Limited
Tel: +61 8 9482 0515

Media & Investor Enquiries:

Peter- John Lewis
Fortbridge
Tel: +61 2 9003 0477
Mob: +61 416 290 604
Email:








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