Mr. Mike Ferguson reports

GENSOURCE POTASH ANNOUNCES CLOSING OF PRIVATE PLACEMENT OFFERING

Gensource Potash Corp. has closed a non-brokered private placement offering of units of the company at a price of 15 cents per unit. Each unit consists of one common share in the capital stock of the company and one common share purchase warrant of the company. Each warrant is exercisable to acquire one common share at an exercise price of 25 cents per warrant share for a period of 18 months following the date of issuance, subject to the company's warrant acceleration right described below.

At the closing, the company issued 7,133,269 units for aggregate gross proceeds of $1,069,990.35. The common shares and warrants comprising the units issued pursuant to the offering are subject to a statutory hold period of four months and a day from the date of issuance.

If the common shares have a closing price on the TSX Venture Exchange (or other exchange on which the common shares may be traded) at or above 30 cents per common share for 10 consecutive trading days, the company may, at its option, accelerate the expiry of the warrants. To exercise the acceleration right, the company must provide written notice to holders of warrants. Holders will have 30 days from the date of such notice to exercise their warrants, and any warrants not exercised within that period will be cancelled.

The company intends to use the net proceeds from the sale of the units to support its previously announced transaction with a large and diversified Southeastern Asian conglomerate and for general corporate purposes.

"Strong market support is key to success in the completion of the company's upcoming transaction regarding the Tugaske project and its development. We thank existing and new shareholders for their support in this respect. Balancing the need to finance critical company activities is prudent control of the company's share structure. To that end, management is pursuing a conservative approach, only raising financing immediately required. We are pleased to close this tranche and focus fully on advancing our project partnerships, where we believe the real shareholder value lays -- exciting times ahead," said Mike Ferguson, president and chief executive officer.

In consideration for their services, certain persons received a cash commission equal to 6 per cent of the gross proceeds of units sold through such finder and compensation warrants to purchase common shares equal to 6 per cent of the total number of units sold through such finder, exercisable for 18 months from the closing date at an exercise price of 15 cents per common share. The broker warrants are subject to the same acceleration right as the warrants as described above. At the closing, the company paid $51,299.42 in cash commissions and issued 341,996 broker warrants.

The closing of the offering remains subject to the final approval of the TSX Venture Exchange.

For the month of April, 2026, the company issued an aggregate of 16,731,769 units for total gross proceeds of $2,509,765.35. In connection with these April financings, the company paid an aggregate of $137,685.92 in cash commissions and issued 917,906 broker warrants.

About Gensource Potash Corp.

Gensource is a fertilizer development company based in Saskatoon, Sask., and is on track to become the next fertilizer production company in that province. With a modular and environmentally leading approach to potash production, Gensource believes its technical and business model will be the future of the industry. Gensource operates under a business plan that has two key components: (1) vertical integration with the market to ensure that all production capacity built is directed, and presold, to a specific market, eliminating market-side risk; and (2) technical innovation, which will allow for a modular and economic potash production facility, that demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning.

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