FED Agriminco Corporation

Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE:FED) announces that
the parties to the memorandum of understanding (the "MOU") described in EPC's
press release dated January 30, 2013 have agreed to further extend the deadline
for the execution of the agreements contemplated therein to April 19, 2013. 


Progress has been made in the negotiation of the definitive agreements. However,
given the complex nature of the transactions contemplated by the MOU, a brief
extension is required. 


Further to EPC's press release dated February 20, 2013, operations at the
Danakil Property have been re-established. The US$1.5 million facility from
Danakil Potash Corporation ("Danakil Corp") to G&B, as announced in EPC's
February 20th press release, is available to be used towards immediate
exploration and the continued development of the Danakil Property. Plinian
Capital Limited, which is a significant shareholder of Circum Minerals Ltd. (the
parent company of Danakil Corp), acts as the operator of Circum Minerals Ltd.
and is expected to be the operator under EPC's proposed joint venture with
Danakil Corp. 


All third-party and regulatory approvals, as may be required, must be obtained
by no later than June 30, 2013. There can be no assurance that the definitive
agreements will be entered into within the time required and/or that the
transactions contemplated in the MOU will be consummated. 


Additional details regarding the transactions contemplated by the MOU are
described in EPC's press release dated January 30, 2013. Additional details
regarding Danakil Corp's loan to G&B are described in EPC's press release dated
February 20, 2013.


About Ethiopian Potash Corp.

Ethiopian Potash Corp. (TSX VENTURE:FED) is a Canadian company based in Toronto,
Ontario and Addis Ababa, Ethiopia. 


On behalf of the Board of Directors

George Roach, CEO & Director

Forward-Looking Information

This press release may contain forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. All statements
that address future activities, events or developments that the Company
believes, expects or anticipates will or may occur (including, but not limited
to, the extent of advances of the proceeds of the loan to G&B, the expected use
of proceeds, the potential for and timing of negotiation of definitive
agreements) are forward-looking information. Forward-looking information is
based upon assumptions by management that are subject to known and unknown risks
and uncertainties and other factors that may cause actual results to differ
materially from those expressed or implied by the forward-looking information.
Factors that may cause actual results to vary materially include, but are not
limited to, Danakil Corp. being unable to satisfy G&B's draw-down requests under
the loan, the failure to satisfy all conditions precedent within the requisite
time, including (without limitation) the entering into of all necessary
definitive agreements, obtaining the requisite third-party consents and
regulatory and shareholder approvals, and changes in general economic conditions
or conditions in the financial markets. Such forward-looking information is
based on a number of assumptions, including but not limited to, the ability of
the parties to fulfill their respective obligations under the loan, the ability
of the parties to negotiate and enter into definitive agreements, the parties
being satisfied with their respective due diligence investigations, there are no
material changes to the terms of any proposed transaction and no significant
decline in existing general business and economic conditions. There can be no
assurance that the Company will be successful in negotiating and entering into
all definitive agreements or that its option to acquire G&B will be exercised or
that the proposed joint venture with Danakil Corp will be formed. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company undertakes no obligations to update publicly or otherwise revise any
forward-looking information, except as may be required by law. For a more
detailed discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements, refer to the Company's filings with the Canadian
securities regulators available on www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ethiopian Potash Corp.
George Roach
Chief Executive Officer and Director
+44 779 626 3999
george@regentresources.co.za


Ethiopian Potash Corp.
Michael Galloro
Chief Financial Officer
416 907 5644

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