PPI

Passport Potash Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) announces that in
furtherance to the News Release of October 25, 2011 Passport is now able to
provide greater detail regarding the terms of the letter of intent entered into
with NZ Potash, LLC ("NZ"). The letter of intent is subject to certain material
contingencies, including a right of first refusal by the other 50% shareholder
in HNZ Potash Inc ("HNZ"). Although Passport intends to pursue joint
developments of their potash properties in the Holbrook Basin upon acquiring the
proposed 50% interest, no formal agreements have yet been reached with HNZ. 


Payment for the 50% interest is proposed to be by a combination of cash and
shares. When the definitive terms of the agreement have been established the
approval of the Board of Directors, shareholders, and regulatory approval will
all be required in order to consummate any transaction.


The Letter of Intent currently sets out December 15, 2011 as the critical date
within which definitive terms are to be reached. There can be no assurance at
the present time that this transaction will occur but the parties have committed
to use good faith best efforts to seek to come to mutually acceptable terms.


About Passport Potash, Inc.

Passport Potash Inc. is a publicly traded corporation engaged in the exploration
and development of advanced potash properties with its major focus on a
previously explored potash property in Arizona. Passport has acquired a
strategic position in the Holbrook Basin with land holdings encompassing over
81,315 acres. For more information regarding the Holbrook Basin, please visit
http://www.azgs.az.gov/arizona_geology/Summer%2008.pdf. 


On behalf of the Board of Directors of Passport Potash Inc. 

Joshua Bleak, President

Forward-Looking Statement

This news release includes certain statements that may be deemed
"forward-looking statements". Forward-looking information includes, but is not
limited to: statements with respect to the effect and estimated timeline of the
drilling and assay results on the Company; the estimation of mineral reserves
and mineral resources; the timing and amount of estimated future exploration;
costs of exploration; capital expenditures; success of exploration activities;
permitting time lines and permitting ; government regulation of mining
operations; potential future expansion of the PFNP; environmental risks;
unanticipated reclamation expenses; and title disputes or claims. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". All statements in this
release, other than statements of historical facts, including the likelihood of
commercial mining and possible future financings are forward-looking statements.
Although the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include: unsuccessful exploration results; changes in metals prices;
changes in the availability of funding for mineral exploration; unanticipated
changes in key management personnel and general economic conditions. Mining is
an inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements. For more
information on the Company and the risks and challenges of its business,
investors should review the Company's annual filings that are available at
www.sedar.com.

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