Industrial Metals & Minerals Investment Summit

INDUSTRIAL METALS, MINERALS
& MINEABLE ENERGY
INVESTMENT SUMMIT
IRONMONGERS’ HALL, CITY OF LONDON ● THURSDAY, 3 NOV 2011
www.ObjectiveCapitalConferences.com
1
Developing potash in the Horn of Africa
Jack Scott – Allana Potash

Potash in Africa
www.allanapotash.com | TSX: AAA
Developing
Potash Success
in Ethiopia
Corporate Presentation November 2011

www.allanapotash.com | TSX.V: AAA
Forward Looking Statements
The information presented contains “forward-looking statements”, within the meaning of the United States Private Securities Litigation Reform Act of 1995, and
“forward-looking information” under similar Canadian legislation, concerning the business, operations and financial performance and condition of the Company.
Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production, the estimation of
mineral reserves and mineral resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production;
capital expenditures; success of exploration activities; permitting time lines and permitting, mining or processing issues; government regulation of mining
operations; environmental risks; unanticipated reclamation expenses; title disputes or claims; litigation liabilities; and limitations on insurance coverage.
Generally, forward-looking statements and 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 state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-
looking statements and forward-looking information are based on the opinions and estimates of management as of the date such statements are made, and
they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements
of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although
management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-
looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not
undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with
applicable securities laws.
Investors are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral
resources be reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Measured, Indicated and Inferred Mineral Resource estimate was reviewed and optimized by Dr. Sebastiaan van de Klauw, Ph.D., EurGeol., who is a
“qualified person” as such term is defined in National Instrument 43-101 and has supervised the preparation of the technical information and data included in
this news release..
Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources
The information presented uses the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms
are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. “Inferred
mineral resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any
part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the
basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral
resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral
resource exists, or is economically or legally mineable.
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Investment Highlights
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Strategic location & deposit
Closest supplier to India
MOP & SOP potential – increasing demand in China
Shallow depth (100-300 metres) - low-cost solution mining & open pit potential
Large-scale resource - NI 43-101 compliant estimate (June 2011):
Measured + Indicated 673 M tonnes @ 18.7% KCl
Inferred 596 M tonnes @ 20.0% KCl
Solid strategic partners - support for financing:
International Finance Corp (World Bank Group member)
Liberty Metals and Mining (Liberty Mutual Insurance Group affiliate)
$60 million cash in recent financings - ample to fund pre-construction work
Market capitalization >$175 million in down market
Developing potential strategic offtake arrangements
Experienced, balanced management team
Feasibility Study and ESIA in-progress, completion Q3-2012
Potential low cost potash producer

Potash Market Dynamics
• 95% world's supply used in fertilizers
• Primary products
• Muriate of potash (MOP) KCl
• Sulphate of potash (SOP) K2SO4
• Agricultural product demand 60% higher by 2030 (UN FAO)
• Demand driven by developing, populous nations like
India, China & Brazil
• Upward potash price pressure remains
• $490/t FOB Vancouver (August’11)
• India & China term supply deals mid-2011 as high as $530/t
• “spot price of potash should climb to at least $650/t by late 2012”
Patricia Mohr, Scotiabank commodity specialist (Mining Weekly Online)
5

World Potash Supply & Demand
6

Allana Proximity to Key Markets
7

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Stable democratic government with a
commitment to foreign investment
Revised mining laws to promote development
of natural resources
Among top 5 countries in fastest GDP growth
Ranks ahead of Russia, Brazil and India in
World Bank’s Doing Business Survey
Member of the Multilateral Investment
Guarantee Agency (MIGA) and the
Convention on the Settlement of Investment
Disputes between States and Nationals of
Other States
Reasonably developed infrastructure:
18 airports, hydro, geothermal & wind power
Close relationship of Allana to government
Allana
Potash
Dallol
Ethiopia
Ethiopia - Emerging Mining Country

Regional Infrastructure
160 km² land package staked in
Danakil Depression
Road access from Mek’ele and new
road north from Addis Ababa - Djibouti
highway under construction
Government completed feasibility study
for railway construction
• Addis Ababa - Djibouti existing line
upgrades and second track under
construction in $1.2 billion, 3-year project
• Design & engineering of southern route
from Mek’ele to Djibouti underway in
$78 million contract
Fresh water sources available –
~600 gal/min in drilled water test wells
Electricity from diesel generators.
Access to transmission grid 100km
No sensitive environmental issues
9

Infrastructure Improvements
10
Road rehabilitations & upgrades from Djibouti to
Dallol government priority
Paved highway extended to Afdera from main Addis
- Djibouti highway; northward extension in progress
Paved road Mekele - Birhale - Dallol under
construction
International rail infrastructure co-funding
committed (India, China)
Railway contracts issued by Government

Djibouti Deep Water Port
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Deep water port capable of handling
Panamax-sized vessels (18m draught)
Bulk handling facilities on site
Road & rail access
Facilities mostly under-utilizedPhotos courtesy ERCOSPLAN 2008

Resource Definition –
2010-2011 Drilling
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HOLE FROM (m) TO (m)
DRILLED
WIDTH (m)* KCl (%)
DK-10-02 150.10 155.65 5.50 25.80
including 150.10 152.10 2.00 34.80
DK-10-07 136.00 145.20 9.20 23.41
including 142.00 144.00 2.00 37.75
214.14 220.80 6.66 22.04
DK-10-08 164.30 168.40 4.10 24.60
Including 165.40 167.40 2.00 31.58
172.70 180.20 7.50 22.08
DK-10-10 257.00 269.40 12.40 23.71
Including 263.40 266.20 2.80 37.64
350.70 357.20 6.50 21.30
DK-11-11 115.85 119.20 3.35 33.77
Including 117.25 119.20 1.95 38.85
125.20 132.50 7.30 17.62
DK-11-13 224.40 227.20 2.80 45.86
342.00 350.70 8.70 22.91
DK-11-16 125.20 129.20 4.00 29.80
168.20 173.20 5.00 20.29
DK-11-19 263.50 270.80 7.30 37.74
547.35 550.40 3.05 30.85
625.47 632.70 7.23 22.09
DK-11-27 159.90 163.35 3.45 37.70
259.23 266.90 7.67 23.05
DK-11-28
Sylvinite
198.74 201.30 2.56 40.27
Kainitite 266.43 274.82 8.39 21.95

Potash Stratigraphy
Potash mineralogy - 4 potash units
• Sylvinite ~ 4 m KCl
• Upper Carnalitite ~ 6 m K, Mg compounds
• Lower Carnalitite ~10 m K, Mg compounds
• Kainitite ~ 7 m K, SO4 compounds
All units can be used to produce MOP,
kainite can produce premium SOP
Distinct layer structure appears
consistent across deposit
• Some downward displacement from
faulting in centre of license area
13
POTASH RESOURCES

Technical De-Risking
2010/2011 Program Highlights
Modern camp and roads established in 2010 to support ongoing drilling and
geophysical survey program
48 km of 2D seismic survey completed as well as down-hole seismic profiling
Two drill rigs completed over 14,000 metres - all holes intersecting potash
mineralization
Feasibility Study and Environmental and Social Impact Study underway
Water test drilling ongoing – six holes completed – initial pump test results
indicate at least 600 gal./min. per well
14

Financial De-Risking
2010/2011 Highlights
Allana secured support from two strong strategic investors
$10 million strategic equity investment from International Finance
Corp. (IFC) – stamp of approval from one of the world’s largest
multi-lateral financing organizations
 Intent to support Allana through construction stage (IFC invested
$18 billion in private enterprises worldwide in 2010)
$20 million equity investment from Liberty Mining and Metals, LLC, a
subsidiary of Liberty Mutual Group
 Liberty holds approximately 17% of Allana
 Long-term investor committed to assisting Allana with financing
at mine construction stage
15

Capital Structure
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Stock symbol AAA – TSX
Share
price(27/10/11)
$1.02
Shares issued
(Basic)
197 million
52-week
High/Low
$2.43 - 0.40
Market cap C$ 198 million
Cash C$ 58 million

Analyst Coverage
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Analyst 12 Month Target Price
Wellington West $2.50
Loewen, Ondaatje, McCutcheon $2.00
Ubika Research $2.51
Dundee Capital Markets $3.05
Cormark Securities $1.80
Mackie $1.65
Fraser Mackenzie $1.50
Union Securities $2.40
Salman Partners $1.65

Strong Management Team
Farhad Abasov, MBA, President, CEO & Director
Over 15 years of business management experience; Executive Chairman Rodinia Lithium; Most recently served as Senior
Vice President at Potash One and Vice President, Portfolio Management and Vertical Integration for Uranium One. Former
member of Energy Metals management team (Energy Metals was sold to Uranium One for $1.8 Billion in 2007)
Peter MacLean, Ph.D., P.Geo, Senior Vice President, Exploration
Over 20 years experience in the mining & exploration industry with junior and senior mining companies including Monarch
Resources, Aur Resources and Newmont Mining.
Nejib Abba Biya, Senior Vice President, Corporate Development, Ethiopia
Originally from Ethiopia, over 20 years of experience conducting business in Ethiopia, excellent working relations with the
federal and regional governments
Jack Scott, MBA, P. Eng., Senior Vice President, Strategic Projects
Over 25 years experience worldwide with resource, energy, infrastructure and technology industries in project development
and financing, engineering and construction, risk valuation, strategic planning, acquisitions and divestments.
Jason Wilkinson, M.Sc, Project Manager, Ethiopia
Over 15 years of exploration and development experience in Africa, Asia and Europe. Most recently head of exploration for
Lydian and Aur Resources
Deborah Battiston, Chief Financial Officer
C.G.A. with over 20 years of accounting and financial management experience.
.
18

Strong Board & Advisory Team
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BOARD OF DIRECTORS
Dr. Mark Stauffer - Chairman
Former President of Potash and Phosphate
Institute of Canada, over 30 years of
experience in potash and fertilizer business
Richard Lacroix
Former Senior Vice President, Potash Corp
of Saskatchewan (PCS), former Board
Member of Canpotex & former Chairman of
Canpotex Bulk Terminals, 30 years with PCS
Maj.-Gen. (Ret.) Lewis MacKenzie
Former General - Canadian Armed Forces;
lead UN Peacekeeping force in Balkans
Diana Walters
Current President/CEO of Liberty Mining and
Metals, over 20 years in management
positions with energy and mining companies.
Farhad Abasov - President & CEO
TECHNICAL ADIVSORY BOARD
Stephen P. Halabura, Senior Advisor
President and CEO of North Rim Exploration, the
premiere potash expert company - over 25 years
experience consulting to BHP Billiton, Athabasca
Potash and Potash One.
Robert G. Connochie, Senior Advisor
President, Behre Dolbear Capital, Inc. and
Chartwell Ventures Inc.,
Formerly President and Chairman of the Potash
Company of America & Chair at Canpotex Limited,
The Potash and Phosphate Institute, the
Foundation for Agronomic Research and the
Saskatchewan Potash Producers Association.

Roadmap to Production
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ACTIVITY 1Q2011 2Q2011
3/4Q
2011
1H 2012 2H 2012
Seismic
2D-48 km
completed
Ongoing
analysis
Drilling
>14,000
metres
Delineation
Completed
ongoing in-fill,
geotech, hydro
Resource Estimate
NI43-101 compliant
ERCOSPLAN Completed
Update on in-fill
drilling
Technical & Economic
Feasibility Study
ERCOSPLAN In Progress
Environmental & Social
Assessment
ERM In Progress
Project Financing BNP Paribas In Progress
Production Decision

Other Ongoing Development Activity
Road – Monitor completion of industrial-specification
roads construction now underway
Rail – Support governments, international development
banks and contractors in accelerated completion of
strategic rail routes
Port – Develop/access port bulk handling facilities
• Cooperative or Contracted
Arrange truck fleet operations
• Cooperative or Contracted
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ALLANA’S ETHIOPIAN POTASH
PROJECT
POTASH PROJECTS IN
OTHER REGIONS
Potash deposit
100 - 300 metres deep
Comparably-sized deposits
500 - 2,000 metres deep
Amenable to open pit and solution
mining at shallow depths
Not amenable to open pit;
High cost deep well solution or
underground shaft mining
Average temperature over 40°C -
Solar evaporation ponds offer
significant energy cost savings
Conventional solution mining uses
natural gas fired evaporators
(>40% of opex)
Significantly lower labor costs Higher labor costs
(in Canada especially - developed world
salaries; compete with majors for workers)
Fast track to production
(shorter permitting)
Long permitting process
(18-24+ months)
Not in Canpotex or Ural areas
No port capacity constraints
in Canada, juniors have to compete with or
buy-in to Canpotex for logistics
Potentially among lowest CapEx and
OpEx Potash Mine
22

Allana –
Best positioned potash play in the world
World
class
deposit
Potential
low cost
producer
Reduced financing
risk
Strategic partners
in place
Fast Track to
Production
23

Potash in Africa
Contact Information: Jack Scott
Senior Vice President – Strategic Projects
TELEPHONE:
+1 778 887-8430 EMAIL:
jscott@allanapotash.com

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