FED Agriminco Corporation

Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE:FED) announces that
it has filed financial statements for the 2012 fiscal year and the related
management's discussion and analysis ("MD&A"). 


The annual financial statements reflect an impairment loss of $42,537,168 for
the year ended September 30, 2012 related to the Company's interest in the
Danakil Project. Management determined that exploration and evaluation costs
related to the Danakil Project had been impaired and that the asset be
written-off for accounting purposes. This impairment results from the Company
having insufficient funds to support its exploration programs to date and in the
foreseeable future. A reversal of this impairment may be acceptable under IFRS
accounting treatment only when the Company can demonstrate that the criteria for
which the impairment loss originated has been remedied. 


During the 2012 fiscal year, EPC was unable to pay the outstanding debt of G and
B African Resources Ltd. ("G&B"), the owner of the Danakil Project, which debt
was incurred on behalf of EPC under the Option Agreement, which provides EPC
with the right to acquire G&B subject to the satisfaction of certain conditions
precedent and milestone payments being made. G&B has advised EPC that it
considers EPC to be in breach of the Option Agreement. However, EPC and G&B have
been, and continue to be, working together to come to a solution to EPC's
failure to meet its obligations under the Option Agreement. 


EPC and G&B have been engaged in discussions and negotiations with potential
strategic investors, which remain ongoing. However, there can be no assurance
that any agreements with strategic investors will be entered into or that G&B
will continue to work with EPC in the near future. 


The annual financial statements and MD&A will be available on SEDAR at
www.sedar.com.


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, EPC and G&B continuing to work together to achieve a solution to EPC's
failure to meet its obligations under the Option Agreement and continued
discussions and negotiations with potential strategic investors) 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, the failure to reach agreements with potential strategic investors
and G&B's determination not to continue to work with EPC in the future, 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, G&B will continue to cooperate with EPC in the near future
and no significant decline in existing general business and economic conditions.
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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