ACN 147 346 334

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Suite 3 23 Belgravia Street Belmont WA 6104

PO Box 588 Belmont WA 6984

Telephone: +61 (0) 8 9479 5386 Fax: +61 (0) 8 9475 0847

info@potashwest.com.au www.potashwest.com.au

23 November 2011

MEDIA RELEASE

Potash West adds significant Kimberley exploration interest to its

portfolio

Highlights

Bulk commodity project located close to existing infrastructure, including an export port.

Project Area covers 162 km2 with intersections of glauconite (a source of potassium for potash production) and phosphate recorded.

Potential to supply growing international and domestic markets.

Planning for future exploration work underway.

Potash West NL (ASX: PWN) (“Potash West” or “the Company”) is pleased to announce it has entered into an agreement with Ochre Resources Limited (Ochre) (a wholly-owned subsidiary of Heron Resources Limited (Heron)), allowing Potash West to earn a 70% interest in a large, potentially glauconite rich, project in Western Australia’s north west. Located in exploration permit E04/1727, the Langey Project covers an area of 162km2 situated 60km south of Derby, in the Kimberley Region of WA. Heron has undertaken over 2,200m of RC drilling intersecting continuous glauconite and phosphate mineralisation at shallow depth over a tested strike of 14 kilometres. Other investigations include geological modelling, costeaning and preliminary metallurgical evaluations. Flotation tests on the phosphate nodules have produced a concentrate grading 31% P2O5 with 81% recovery.

The Agreement Structure Under the agreement Potash West will:

Earn a 51% interest in the project by meeting expenditure commitments for 2 years, or spending $225,000;

Earn a 70% interest by meeting expenditure commitments for a further 1 year, or spending $400,000; and

Free carry Ochre to a Bankable Feasibility study, or until the expenditure of $5 million

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The Project The Langey Project (location shown in Figure 1) straddles the Great Northern Highway, 60 km south of the major Kimberley town of Derby. The Derby port was recently used to export base metals from the now mothballed Lennard Shelf project. The near surface geology comprises mudstones and sandstones of the Jarlemai Formation containing glauconite and phosphate rich layers near the base. The prospective horizons come to within a metre of the surface in the eastern part of the tenement and dip at shallow angles to the west for a distance of over 1km. A typical section through one of the costeans is shown in Figure 2. The phosphate layer is between 0.5 to 1m thick and underlies the entire tenement area. The phosphate nodules are thought to have formed on the ocean floor as a result of inflow of phosphate rich waters. Phosphate grades for the nodular horizon average 4.2% P2O5, whilst the nodules themselves have an average grade of 21% P2O5. Overlying the phosphate layer is a 1.5 to 2m thick horizon containing green glauconitic clays containing between 3% and 4% K2O. Phosphate presence has been known for some years and was investigated by Mines Exploration Pty Ltd in the period 1965-67. More recently Heron has drilled 151 RC holes for a total of 2,269m at an average depth 15m, and undertaken geological modelling of both the phosphate and glauconite layers. Flotation tests on the concentrate nodules produced a concentrate with a grade of 31% P2O5 and a recovery of 81%. Potash West and Heron are currently planning the next phase of exploration work at Langey. It is expected to include collection of a bulk sample for process testwork and completion of resource estimate studies. Potash West MD, Patrick McManus, said “Previous drilling has shown a widespread, consistent layer with elevated potassium and phosphorous levels. The project could benefit from the application of technology we are developing for our flagship Dandaragan Trough glauconite project in the Mid West region of Western Australia. “With growing international demand for potash-rich fertilisers and the WA Government’s recently confirmed plans to significantly expand the Ord River agricultural area in the Kimberley Region, the Langley Project is ideally located to supply both global and domestic marketplaces.” For further information contact: Potash West NL Media: Patrick McManus Professional Public Relations Managing Director David Brook/Colin Hay Tel: +61 (08) 9479 5386 Tel: +61 (08) 9388 0944 Web: www.potashwest.com,au

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Competent Person’s Statement: The information in this report is based on information compiled by Lindsay Cahill, who is a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Cahill has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Cahill is a consultant to the mining industry. This report is issued with Mr Cahill’s consent as to the form and context in which the exploration results appear. About Potash West Potash West (ASX:PWN) is an exploration company focused on developing potassium-rich glauconite deposits in West Australia’s Perth Basin. The Company aims to define a substantial resource base and investigate how best to recover potash from the mineral. The project is well situated in relation to infrastructure, with close access to rail, power and gas. A successful commercial outcome will allow the Company to become a major contributor to the potash market at a time of heightened demand. The Company has a major land holding over one of the world’s largest known glauconite deposits, with exploration licenses and applications covering an area of 2,905km2. Previous exploration indicates glauconite sediments are widespread for more than 150km along strike and 15km in width.

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Figure 1: Langey Project location plan.

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Figure 2: Costean exposure of glauconitic and phosphatic horizons.

Laterite

Saprolitic Ferruginous Clay

Saprolitic Glauconitic Clay (Minor Phosphate Nodules)

Saprolitic Glauconitic Clay with Prominent Phosphate Nodules

Alexander Formation