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www.allanapotash.com | TSX.

V: AAA

Potash in Africa

Corporate Presentation
April 2010
Forward Looking Statements
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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.

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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INVESTMENT HIGHLIGHTS

$2 million strategic investment from a Chinese investment group completed

Entered into off-take/financing agreement talks with the same Chinese group
to cover 35% of the construction costs

43-101 Compliant Inferred Resource: 105 million tonnes (20.8% composite


grade KCl)

Potential to become one of the lowest cost potash producers in the world

Fast track to production

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Capital Structure
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Stock symbol: AAA – TSX.V

Share price(25/03/10): $0.41

Shares issued (Basic): 114 million

52-week High/Low: $0.47 – $0.04

Market cap (FD): C$ 55 million

Cash C$ 8.8 million

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Strong Management Team & Board

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Farhad Abasov, MBA, President, CEO & Director


Over 15 years of business management experience; 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

Jason Wilkinson, 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.
.
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Strong Management Team & Board

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BOARD OF DIRECTORS TECHNICAL ADIVSORY BOARD

Maj.-Gen. (Ret.) Lewis MacKenzie, Richard Lacroix, Senior Advisor


Director Former Senior Vice President , Potash Corp of
Former Canadian Armed Forces General; Saskatchewan, former Board Member of
lead the U.N. Peacekeeping effort in Canpotex, and former Chairman of Canpotex Bulk
Sarajevo. Terminals, 30 years with PCS

Rene Bharti, Director Mr. Stephen P. Halabura, Senior Advisor


Mr. Bharti is currently the VP-Corp. President and CEO of North Rim Exploration, the
Development for Avion Gold Corp. with premiere potash expert company, over 25 years
operations in Mali, Africa . experience consulting to BHP Billiton, Athabasca
Potash and Potash One.
Dr. Mark Stauffer, Senior Advisor
Former President of Potash and
Phosphate Institute of Canada, over
30 years of experience in potash and
fertilizer business

Farhad Abasov, MBA,


President, CEO & Director
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Ethiopia: Emerging Mining Country
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Stable democratic government with a


commitment to foreign investment Allana
Potash
Revised mining laws to promote development
of natural resources

Among the top 5 countries in the fastest GDP


growth,

Ranks ahead of Russia, Brazil and India in


Doing Business Survey

Ethiopia is a member of the Multilateral


Investment Guarantee Agency (MIGA) and
the Convention
on the Settlement of Investment Disputes
between States and Nationals of Other States
Ethiopia
Reasonably developed infrastructure: 18
airports, hydro and geothermal power plants

Close relationship of Allana to government


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Large Evaporite Basin with known
potash mineralization
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Danakil Evaporite Basin has similar geology


and twice the size of the world class Urals Basin

The Saskatchewan & Urals Basins account for


75% of world s reserves and 50% of global
production

Less than 10 % of the land package explored

Urals - Russia Danakil-Ethiopia


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Project Location
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150 km² land package staked in


Danakil Depression; Allana can earn
100% interest

In a desert area in Northeast Ethiopia,


approximately 100 km from the Red
Sea coast

Approx. 100km to Mersa Fatma Port,


Eritrea

600km road to Djibouti port

No sensitive environmental issues

BHP Billiton and other players in the


region

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Local Infrastructure
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Road access from Mekele and new


road under construction from Djibouti

Road access to former sea port of


Mersa Fatma, 100 km to Red Sea

Abandoned rail line to Mersa Fatma


used to haul potash and sulphur.

Abundant fresh water in Parsons


water wells (up to 700 gal/min) in
alluvial fans.

Additional fresh water sources at


Regali River and Lake Afdera.
Geothermal power potential

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43-101 Compliant Inferred Resource
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ERCOSPLAN (Germany) has completed a 43-101 preliminary assessment report (ERCOSPLAN


has extensive potash experience in Russia, Central Asia, Africa and Saskatchewan)
Elevations as low as 50 m-128 m below sea level
COMPANY DEPOSIT TONNAGE GRADE

ERCOSPLAN Musley – Allana 31,300.000 24.4% KCI

ERCOSPLAN Musley – Allana 73,900,000 61.7%


KMg(SO4(*2.75H2O

All of the above can be used for production of MOP and SOP
The report covered less than 10% of the Allana’s property

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Extensive historic exploration
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Parsons exploration 1959-1967, 139


drill holes (14,611 metres) at Musley
Deposit

Parsons reported 171,000,000


tonnes of potash at 31-34% KCl

Drill logs, analytical data,


engineering studies available at
Geological Survey of Ethiopia in
Addis Ababa

16 historic drill holes located on


Allana ground

Kainitite Member and deep potash


horizon virtually unexplored

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Stratigraphic Column of Evaporite Sequence
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As described in
Holwerda & Hutchinson
(1968, /14/), The Ralph M.
Parsons Company (1966,
/22/), PEC Engineering
Division Mine (1984, /17/
and 1986, /17), Ayele et al.
(2004, /2/)
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Potentially lowest CAPEX and
OPEX Potash Mine
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ALLANA’S ETHIOPIAN POTASH PROJECTS IN


POTASH PROJECT OTHER REGIONS
Unique near-surface potash deposit Comparable deposits are 500 to 2,000
50-100 meters deep (Two drill holes meters deep
intersect 45 meters of potash at the
depth of 680 meters)
Amenable to open pit and solution Not amenable to open pit and higher
mining cost for solution mining
If solution mining method, solar Expensive underground methods;
evaporation ponds can be used solution mining uses large quantities of
resulting in significant energy costs natural gas to evaporate water (energy
savings– average temperature is about accounts for over 40% of opex)
40C
Significantly lower labor costs High labor costs (in SK especially as in
addition to developed world salaries,
juniors have to compete against major
potash producers attracting workers)

Fast track to production (shorter Long permitting process


permitting) (18-24 months)
Not operating in the backyard of SK-Juniors will have to compete with
Canpotex and no port capacity Canpotex for logistics
constraints

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Strategic Direction – Off-Take Agreement
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Allana is negotiating Off-Take Agreement to partner with China Mineral United


Management (China Mineral) to develop its Ethiopia Potash Project

China Mineral will receive up to 20 % of potash production from a 1 M tpy operation


and will responsible for 35 % of all the capital costs including solution mine and
processing plant construction costs

China Mineral made a strategic investment of C$2,000,000 through private


placement at $0.25 CDN per share (25% premium at the time of signing)

Negotiations with ChinaCo and additional parties continue as Allana seeks to further
reduce the financing risk.

New structure allows Allana to maintain control of the project, limit dilution, and de-
risks 35 % of the Capex

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Phase 1
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COMPREHENSIVE PROGRAM INCLUDES: CONFIRMATION DIAMOND DRILLING


Under supervision and direction of PROGRAM
ERCOSPLAN Approx. 2500 m HQ diamond drilling
Interpretation of aerial photographs and Drill holes designed to confirm potash
satellite images mineralization in the north, south, and
Evaluation of site conditions for further basin centre
planning Drill holes engineered to be used for
Structural mapping of Danakil Graben down hole seismic survey
shoulders
Structural mapping of Dallol salt diapirs GEOPHYSICAL SURVEYS
Mapping and sampling of hot springs in Down hole vertical seismic profiling to
vicinity of Danakil Potash Deposit determine characteristics of potash
Evaluation and verification for best seismic horizons
survey layout and position Approximately 50 km of surface 2D
seismic survey to determine extent of
Evaluation and verification for best drilling
potash mineralization
program layout and position

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Roadmap to Production
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ACTIVITY Q1-2010 Q2-2010 Q3-2010 Q4-2010 Q3-2011

DRILLING ~2500 metres

UPDATE 43-101-RESOURCE ESTIMATE ERCOSPLAN

SEISMIC SURVEYS VPS,2D-40 KM

SEISMIC INTERPRETATION DATA INTERPRETATION

DRILLING 10,000 METRES

RESERVE ESTIMATE ERCOSPLAN

FEASIBILITY ERCOSPLAN

PRODUCTION DECISION

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Exploration update- February 2010
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Exploration camp for up to 20 people


commissioned and will include air
conditioned dorms, modern kitchen and
water facilities

UK-based drilling company engaged

Road rehab completed

Camp construction started


Drilling underway

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Exploration update- Drilling
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Phase I drill programme underway

2500-3000 metres planned over 7 drill


holes

Initial drilling on extension of Musley Deposit

Deep drilling (2 holes) planned in centre of


basin where 45 metres of potash intersected by
Parsons www.allanapotash.com | TSX.V: AAA 19
Allana –
Best positioned potash play in the world
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Reduced
World- Potential to financing risk –
class become negotiating Off- Fast Track to
lowest cost Take agreement Production
deposit producer with Chinese
partner

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Peer Comparison Benchmark deal: BHP takeover
of Athabasca Potash for $329 MM in 2010
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Analyst Coverage
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Analyst 12 Month Target Price


Wellington West $0.65

Loewen,Ondaajte, McCutcheon $1.15

Ubika Research $1.02

Dundee Capital Markets $1.00

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Allana’s Recent Visit to Ethiopia
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Allana President/CEO and Vice Presidents Met with the Ethiopian President,
Minister of Mines and Minister of Transport
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Potash in Africa

Contact Information: Farhad Abasov


President and CEO

TELEPHONE: EMAIL:
416-845-5904 fabasov@allanapotash.com

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