SN Sennen Potash Corporation

Sennen Potash Corporation (TSX VENTURE:SN) ("Sennen" or the "Company") is
pleased to announce that it has renegotiated the terms of its acquisition of an
interest in the Monument Potash Project in South East Utah and South West
Colorado ("Monument"), as previously disclosed in news releases dated October
15, 2012 and December 20, 2012.


Highlights



                      ORIGINAL OPTION TERMS      REVISED OPTION TERMS      
First Earn-in         40%                        70%                       
First Earn-in         3 wells                    1 well                    
 Commitment           US$9Mwork program          US$4.5M work program(1)   
                      50M shares                 50M shares                
                      US$4.1M cash               US$4.1M cash              
                                                                           
Option Expiration     December 31, 2014          December 31, 2015         
 Date                                                                      
Second Earn-in        51%                        75.5%                     
Second Earn-in        Complete feasibility study Complete pre-feasibility  
 Commitment                                      study                     
Note 1: In addition to funds already spent by Sennen to date               



Under the new agreement (the "Revised Agreement"), Sennen will have the right to
acquire a 70% interest in Monument by incurring further expenditures of US $4.5
Million by December 31, 2015.


Further, under the Revised Agreement, Sennen also has the right to acquire a
further 5.5% interest in Monument, for a total of 75.5%, by completing a
pre-feasibility study on Monument within 24 months of acquiring the initial 70%
interest. 


The share and cash consideration contemplated under the Original Agreement
remains the same in the Revised Agreement and, in this regard, the Company has
agreed to issue the final tranche of 20 million common shares (for a total
issuance of 50 common million shares) on or before December 20, 2013.


Ian Rozier, President and CEO of Sennen said: "Given our ongoing focus on
capital discipline and maximizing shareholder returns, we are delighted to have
agreed to a mutually beneficial revision of the option terms with our partners
at Paradox. The revised terms allow Sennen to reduce its capital commitments,
extend the earn-in time frame by a full year and substantially increase the
project interest to be earned. Based on work completed to date, we continue to
believe Monument to be an attractive potentially high grade potash project with
significant upside and look forward to advancing our technical suite in the
coming months."


About Sennen 

Sennen has, together with our industry partners, assembled an experienced team
of multi-disciplined professionals to focus on the exploration and responsible
development of the Monument Potash Project. Monument is comprised of over
100,000 net mineral acres of highly contiguous mineral leases in South East Utah
and South West Colorado and is located less than 70 miles from Intrepid Potash
Corp.'s operating Cane Creek Solution Mine. Sennen is currently undertaking
exploration work required to delineate the potash resource estimate.


Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV) has reviewed, nor
do they accept responsibility for the adequacy or accuracy of, this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sennen Potash Corporation
Barbara Dunfield, MBA
Chief Financial Officer
604-685-6851


Sennen Potash Corporation
Ryan Cohen
Vice President, Operations
604-685-6851
604-685-6493 (FAX)
info@sennenpotash.com
www.sennenpotash.com

Sennen Potash (TSXV:SN)
Historical Stock Chart
From Apr 2024 to May 2024

Sennen Potash (TSXV:SN)
Historical Stock Chart
From May 2023 to May 2024