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Ethiopian Potash Completes 16 diamond drill holes

Ethiopian Potash Corporation has announced that it has completed 16 diamond drill holes totaling 3,353 meters on its Danakil Potash Project. The initial 16 holes were drilled in the South-west Target Area.

Ethiopia Potash is currently drilling holes 17 and 18 to test the northern continuation of the South-west Target Area. All holes have intersected the Danakil Potash bearing sequence.

It is expected that an additional 11 holes will be drilled to finalize the first phase of exploration in the South West Target Area. This phase will provide the company with adequate drilling to fulfill its plan of including 1 billion tons of potash resource from this part of the property into an updated 43-101 compliant report.

Roads are being constructed as the drilling in the Colluli Target Area with targets at 100 meter depth or less is expected to commence early next year. The Colluli Target area will have the same resource objective as the South-west Target Area.

Ethiopian Potash has directed all core samples for analysis to the Saskatchewan Research Council, Saskatoon, Saskatchewan ("SRC"). SRC is recognized as one of the best laboratories for potash analysis, pilot plant testing and flow sheet design.

The company has been assured that assays can be expected within 15 days of receipt of the samples. It anticipates being able to release assays on a number of holes in the first week of December.

Source: Stock Market Review