Gensource Announces $3,000,000 Non-Brokered Private Placement

SASKATOON, Saskatchewan–(BUSINESS WIRE)–Gensource Potash Corporation (“Gensource” or the “Company”)
(TSX.V: GSP) is pleased to announce a proposed best efforts
non-brokered private placement for gross proceeds of up to $3,000,000
(the “Offering”). The Offering will consist of the sale of up to
24,000,000 Common Shares of the Company (” Common Shares””) at a
price of $0.125 per Common Share. The Non-Brokered Financing is subject
to an over-allotment option, allowing Gensource to issue additional
3,600,000 Common Shares.

The Company intends to use the proceeds from the sale of the Common
Shares for general working capital purposes, to complete the detailed
financial arrangements with current Off-take MOU partners as well
third-party equity and debt providers to allow for the construction of
the first potash module and to advance the level of definition of the
resource in the KL 244/KL 245 area. The Offering will take place by way
of a private placement to qualified investors in such provinces of
Canada as the Company may designate, and otherwise in those
jurisdictions where the Offering can lawfully be made. The securities to
be issued pursuant to the Offering will be subject to a statutory fourth
month and one day hold period from the Closing Date (as defined herein).

It is expected that the closing of the Offering will occur on or about
May 31, 2018 (the “Closing Date”) and is subject to the
satisfaction of certain conditions, including receipt of all applicable
regulatory approvals including the approval of the TSX Venture Exchange.
In consideration for their services, certain persons (each, a “Finder”)
may receive from the Corporation on Closing, a cash commission equal to
8.0% of the gross proceeds of the Offering and compensation warrants to
purchase common shares equal to 8.0% of the total number of Common
Shares sold, exercisable for 18 months from the Closing Date at $0.125
per common share (the “Broker Warrants”).

Gensource’s President and CEO, Mike Ferguson commented, “We look forward
to completing the financing, which will allow the Company to be in a
strong position as we complete off-take and project finance negotiations
that will allow the first project to move into construction. Gensource
is also cognizant of the need to stay ahead of the curve with respect to
defining the next projects in the Vanguard area.”

About Gensource

Gensource is based in Saskatoon, Saskatchewan and is focused on
developing the next potash production facility in that province, using
new and more efficient mining and processing methods and employing a
new-to-the-potash-industry business model that connects the consumer of
potash (agricultural producers) as directly as possible to the
production of the product. Gensource’s President and CEO, Mike Ferguson,
P.Eng., has assembled a management and technical team with direct and
specific expertise and experience in potash development in Saskatchewan.

Gensource operates under a business plan that has two key components:
vertical integration with the market to ensure that all production
capacity built is directed to a specific market, eliminating market-side
risk, and technical innovation which will allow for a small and
economic potash production facility, the output of which can then be
directed to a single, specific market.

The technical information presented in this new release has been
reviewed and approved by Mike Ferguson, P.Eng., the President, CEO and a
Director of the Corporation, who is a qualified person according to NI
43-101 requirements.

Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This news release may contain forward looking information and
Gensource cautions readers that forward- looking information is based on
certain assumptions and risk factors that could cause actual results to
differ materially from the expectations of Gensource included in this
news release. This news release includes certain “forward-looking
statements”, which often, but not always, can be identified by the use
of words such as “believes”, “anticipates”, “expects”, “estimates”,
“may”, “could”, “would”, “will”, or “plan”. These statements are based
on information currently available to Gensource and Gensource provides
no assurance that actual results will meet management’s expectations.
Forward-looking statements include estimates and statements with respect
to Gensource’s future plans, objectives or goals, to the effect that
Gensource or management expects a stated condition or result to occur,
including completion of the definitive offtake agreement on terms as
announced or at all, securing project financing on terms which are
economic or at all, the establishment of vertical integration
partnerships and the sourcing of end use potash purchasers. Since
forward-looking statements are based on assumptions and address future
events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to Gensource’s financial
condition and prospects, completion of the definitive offtake agreement
on terms as announced or at all, securing project financing on terms
which are economic or at all, the ability to establish viable vertical
integration partnerships and the sourcing of end use potash purchasers
could differ materially from those currently anticipated in such
statements for many reasons such as: failure to settle a definitive
joint venture agreement with a party and advance and finance the
project; changes in general economic conditions and conditions in the
financial markets; the ability to complete the offtake agreement on
terms as announced or at all or to find and source other off-take
agreements; the ability to secure project financing on terms which are
economic or at all; changes in demand and prices for potash; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties
encountered in connection with Gensource’s activities; and other matters
discussed in this news release and in filings made with securities
regulators. This list is not exhaustive of the factors that may affect
any of Gensource’s forward-looking statements. These and other factors
should be considered carefully and readers should not place undue
reliance on Gensource’s forward-looking statements. Gensource does not
undertake to update any forward-looking statement that may be made from
time to time by Gensource or on its behalf, except in accordance with
applicable securities laws.


Gensource Potash Corporation:
Mike Ferguson, 306-974-6414