Vancouver, B.C. - October 15, 2012. Passport Potas

Vancouver, B.C. - October 15, 2012. Passport Potash, Inc. (“Passport” or the “Company”) ( PPI: TSX.V , OTCQX PRTF ) is pleased to announce that is has signed a letter of intent (“LOI”) with the Hopi Indian Tribe (“Hopi” or the “Tribe”).  The LOI, which is non-binding, is an outgrowth of the access and information sharing agreement signed between the parties in March 2011, and authorizes the engineering firm, ERCOSPLAN, to combine the Hopi and Passport land sections in the upcoming Preliminary Economic Assessment (“PEA”) commissioned by Passport, and lays the groundwork for potential joint exploration and development of the potash resources in the Holbrook Basin.

The LOI further witnesses the intent of the parties to jointly explore the contiguous land sections to determine their combined economic potential.  The exploration program will be based upon recommendations from ERCOSPLAN and purposed to maximize the potential resource on the combined properties.

The parties also intend, based on the geologic findings on the properties, to proceed towards negotiating a definitive mining development agreement (“MDA”) between the parties, and further agree to conduct the MDA negotiations in good faith with an understanding that time is of the essence.

The inclusion of the private properties owned by the Hopi tribe in the PEA will necessitate delaying the release of the PEA for 60 to 90 days to allow ERCOSPLAN to incorporate the Hopi data.  The PEA will be addressed to and owned by both PPI and the Tribe, who shall each be entitled to use and rely on the PEA for both their joint and individual purposes.

“We are extremely pleased to have entered into this LOI with the Hopi Tribe, and are excited to help them cultivate this economic development opportunity on their private land sections in the Holbrook Basin”, commented Joshua Bleak, Passport’s President and CEO.  “Our goal is, and has always been, to see a potash mine built in the Holbrook Basin, and we see this as another positive step towards realizing this goal.”

To View A Map of Passport and Hopi Lands Click Here

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 121,000 acres. For more information regarding the Holbrook Basin, CLICK HERE.

On behalf of the Board of Directors of Passport Potash Inc.
Joshua Bleak, President