GSP Gensource Potash Corporation

Alan Cruickshank, President and CEO of Gensource Capital Corporation (Gensource
Capital) (TSX VENTURE:GSP), is pleased to announce the appointment of Mike
Ferguson, P.Eng. as President and CEO of Gensource Potash Corporation (Gensource
Potash), a wholly owned subsidiary of Gensource Capital.


Mike is a highly experienced engineer and project manager, with over 25 years in
the Saskatchewan potash and uranium industries. Mike's experience covers potash
operations roles (both underground and on surface), design and engineering,
engineering management, project management and general management. Most
recently, Mike led the Potash One project team in developing the Legacy Project
in Saskatchewan. Potash One was acquired by K+S AG in a friendly take-over in
November 2010 and Mike worked with K+S Potash Canada in a transitional role
until recently.


Alan Cruickshank commented "... we are very pleased to have attracted someone of
Mike's experience to lead the team at Gensource Potash. Our goal at Gensource is
to build a partnership that is capable of putting the next potash project into
production in Saskatchewan. This partnership must address: 1) market access, 2)
financial capability and 3) technical know-how. The leadership of Mike Ferguson,
his experience and contacts significantly strengthens Gensource's ability to
assemble this partnership".


Gensource Potash Corporation was created through the acquisition of Nexxt Potash
Corp., a private potash development company headquartered in Saskatoon, SK. by
Gensource Capital Corporation. Subsequent to this transaction Gensource Capital
Corporation has moved its corporate headquarters to Saskatoon, Saskatchewan. The
transaction creates a privately operated potash project development company,
Gensource Potash, with access to the public markets through its parent company,
Gensource Capital.


One of Nexxt Potash's founders is Steve Halabura, P.Geo., FEC(Hon). Steve
remains with Gensource Potash as Director of Geology as well as serving as
Chairman of the Board of Directors of Gensource Potash Corporation.


Gensource Potash views the potash development process in Saskatchewan
differently. Given the massive extent of the Prairie Evaporite Formation in the
province, it is possible to show large potash resource numbers almost anywhere
within the known Evaporite region. The real issue is to identify the right
resource that is not only rich and economical to recover but is also supported
by surface-drivers such as infrastructure (roads, rail, power, water, gas, etc.)
and conducive surface hydrology and sub-surface hydrogeology so as to minimize
both costs and environmental impacts or concerns.


Gensource Potash sees the key risks to new potash project development in
Saskatchewan as:




--  Access to the market. The global potash market is a very much a closed
    one. Success will depend on clear access to the market, including
    distribution and sales infrastructure. 
--  Financial capability. Since new potash development projects are very
    expensive, a new entrant must have a clear plan to finance its venture
    to be successful. 
--  Know-how. Knowing where the best resources exist within the Prairie
    Evaporite, where the surface-drivers of the project are optimized and
    understanding the environmental, regulatory and community engagement
    issues and requirements is critical to a successful project.



In support of the above, Gensource Potash has completed an internal assessment
of potential potash lands that are suitable for solution mining and has
identified at least six potential prospects. Currently Gensource Potash is
pursuing the acquisition of freehold potash leases at two of the prospects and
has developed plans for seismic and drilling programs that would define a
prospective potash project, which the Company defines as a having potential
minimum potash resource endowment of 100 million tonnes K2O (158 million tonnes
KCl) in the "Indicated" resource category.


For more information on Gensource, visit our website at www.Gensource.ca. 

The Corporation's public documents may be accessed at www.sedar.com.

This news release contains forward-looking statements. These statements are
based on certain factors and assumptions as set forth in this news release
including expected growth, results of operations, performance and business
prospects and opportunities. While the Corporation considers these factors and
assumptions to be reasonable based on information currently available, they may
prove to be incorrect. A number of factors could cause actual results to differ
materially from those in the forward-looking statements, including, but not
limited to results of exploration, project development, reclamation and capital
costs of the companies in the merchant banking portfolios ("investee
companies"), and the Corporation's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for the minerals the investee
companies expect to produce; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; technological and
operational difficulties encountered in connection with the activities of the
Corporation and investee companies. Additional risks and uncertainties can be
found in our Management's Discussion and Analysis and in filings with the
Canadian provincial securities commissions. Forward-looking statements are given
only as at the date of this news release and the Corporation disclaims any
obligation to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gensource Capital Corporation
Alan Cruickshank
President and Chief Executive Officer
306-974-6406
alan@gensource.ca


Gensource Potash Corporation
Mike Ferguson
President and Chief Executive Officer
306-974-6414
mike@gensource.ca
www.Gensource.ca

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