Suite 610-2010 11 th Avenue Regina, SK. S4P 0J3 Canada www.westernpotash.com Corporate Presentation August 2017
Western Potash Corp. Board of Directors Geoffrey Chang Chairman of the Board Appointed Chairman of the Board of Western Potash Corp. in Sept. 2015. Over 30 years experience in strategic business management predominantly power generation industry Senior Economist Designation Xia Qinglong Director Currently CEO, President and Director of ChinaBlue Chemical Ltd. Brings over 30 years experience in the resource extraction industry Degree in Petroleum Exploration, PhD in Geophysics, Professor Grade Senior Engineer Bill Xue Director Appointed to Western Potash Board of Directors in Sept. 2015 Over 20 years experience in project and investment management (public and private sectors) Law Degree and MBA George Gao Director Currently CEO of Western Potash Corp & COO of Western Resources Corp. Previously President of the Beijing Mining Exchange & Head of Business Development and Chief Representative for Toronto Stock Exchange MBA and Bachelor of Economics Patrick Power Director Co-Founder of Western Potash Corp. Instrumental in assisting the Company in its Strategic and Market Financings since inception Over 25 years experience in mining finance, management and venture capital Zheng Mianping Director Over 50 years experience as a pioneer of the salt lake mineral industry Has Degrees in Geology and Engineering and was awarded the Chinese National Science Congress Award as well as the State Science and Technology Progress Award 4
Western Potash Corp. Experienced Management with Relevant Expertise George Gao CEO Currently also COO of Western Resources Corp. Previously President of the Beijing Mining Exchange & Head of Business Development and Chief Representative for Toronto Stock Exchange MBA and Bachelor of Economics Zhimao Ma President Senior Engineer and General Manager of Legal and Assets Management Department of CBC Deep potash and fertilizer commercial experience Bachelor of Science Degree and a Masters Degree Matthew Wood Senior VP, Projects Currently also VP, Projects, Western Resources Corp Former President of Vale Potash Canada Limited, and Senior Project Leader of Vale s Kronau Project Extensive experience in potash solution mining, process and project management with two large multi-national companies Ph.D. Jerry Zhang Director of Administration Currently also Corporate Secretary of Western Resources Corp. Extensive experience in administration management with government and private enterprises MA in International Communication & Ph.D in International Relations. Tony Gao Director of Finance Seven years accounting experience with various Canadian companies Bachelor of Law Degree Master of Management and Professional Accounting Degree 3
Corporate Vision Western Potash Corp., wholly owned subsidiary of Western Resources Corp., is dedicated to becoming a pioneer in the potash selective solution mining sector. The Company intends to develop its world-class deposit in a more innovative, efficient and low-cost manner. 4
Historical Achievements: Western Potash World-class potash deposit May 2008 Western Potash IPO on TSX Venture Dec 2012 Completed Feasibility Study on 2.8 million tonne capacity Milestone Project May 2007 Western Potash Incorporated July 2011 WPX graduated to TSX June 2013 Strategic Investment with ChinaBlue (Canada) Holding Corp. Apr 2013 Environmental Assessment approved Dec 2016 Completed Class 3 Phase I Project Final Report Sept. 2015 Tairui Innovation Capital Management Ltd. Holds 51% stake in Western Potash Corp. June 2017 Environmental Assessment approved July 2017 Entered Project Agreement with Rural Municipality of Lajord 5
Current: A world-class potash Project & (CAD)$68 million cash* Milestone Potash Project Invested accumulative total of CAD$150 million Capitalized mining and development asset at (CAD)$90 million Completed Feasibility Study and EA for the 2.8 million tonne capacity Phase II and Phase III Project Completed Final Report (US Class 3 Standard) and EA for the 146,000 tonne capacity Phase I Project Entered into a Project Agreement with Rural Municipality of Lajord Cash & Equivalents Cash & term deposits (CAD)$68 million Process flow for 2.8 million ton capacity * As of March 31, 2017 6
Milestone Phase I Project Land and Mineral Rights Mineral rights that WRX has acquired totals more than 148,000 acres of mineral leases (crown and freehold) Dark Green Acquired Light Green Partially Acquired Purchased an additional 17 quarter sections of surface land for the pilot and large scale mine 7
Milestone Phase I Project Strategically Located in Attractive, Mining Friendly Jurisdiction Situated on Heat Anomaly Railway Natural Gas Port Roads Power Water Water Agreement with the City of Regina Signed to Utilize Treated Effluent for Phase II & III 8
Milestone Phase I Project General Site Overview Dawson Bay Salt Back Thickness (m) Formation Grade (KCl %) 12.20m Patience Lake Member 26.7% Depth to potash members: ~800m near Saskatoon 4.80m Salt Back Belle Plaine Member 29.9% 1,600m-1,700m near Regina 3,000m in North Dakota Lower Salt Interbed and White Bear Member 5.3m Esterhazy Member 39.5% Phase I Mining Target -Potash Geology M-008 (WPX Western Riceton 16-05-14-17 W2M) 9
Milestone Phase I Project Technical Advantages Horizontal Drilling + Selective Solution Mining + Crystallization Ponds Innovative solutions add up to the efficiency envisioned at Milestone 10
Milestone Project Formation Temperatures Higher formation Temperature yields ~9% more KCl in solution Milestone 60-65 Belle Plaine 55-60 Legacy 45-55 FSE: WRO 11
Future: A 10 year strategy to world-class production 2017 - further mitigate the uncertainties of the Milestone Phase I Project 2018-2020 - complete the Phase I Project s financing, construction and achieve production 2020-2021 - prove Phase I operation; complete engineering for Phase II expansion to 1.4 million tonnes of potash production, paving the pathway to the financing for Phase III 2022-2027 - Phase II, completes financing, construction and into production; getting ready for kick-off of the Phase III expansion of a further 1.4 million tonnes 12
Milestone Phase I Project Future Economic Benefits The Phase I Project will inject (CAD)$307 million into the economy! Direct economic impacts result from expenditures that are directly associated with constructing and operating the mine, such as labour, materials and equipment Indirect impacts occur when the mine s suppliers purchase goods and services and employ workers to fulfill their contracts with the mine Induces impacts occur when labour from the mine purchase goods and services at a household level 13
Milestone Phase I Project Community Investment Committed to supporting initiatives that contribute to the long-term sustainability of the local community and also local projects that benefit the community in: Water quality, research and consumption reductions Energy efficiency and renewables development Waste reduction, infrastructure and recycling improvements Innovation The mining industry has the potential to partner with communities to make great things happen! 14
Milestone Phase I Project Community and Government Engagement Strong ties with community Ongoing community sponsorship Focus on local business and local employment Good relationships with local and provincial governments and First Nations Community newsletter 15
Milestone Phase I Project A Unique Opportunity Project design is completed by experienced engineering firms Site is ready for construction to begin The Milestone Phase I Project is truly innovative, and could revolutionize the way potash is extracted in Canada, and Globally! 16
Suite 610-2010 11 th Avenue Regina, SK. S4P 0J3 Canada www.westernpotash.com Thank You