2013-01-26 00:21:50 -

Vancouver, British Columbia, January 25, 2013 - Passport Potash Inc. (TSXV:PPI)
(OTCQX:PPRTF)  has announced a non-brokered private placement, consisting of up
to $2,500,000 convertible debentures, with a 15% interest rate.

The debentures are convertible into common shares, at a price of US$0.19 for a
period of one year. Each $1,000 debenture also includes 5,000 common share
purchase warrants, which are also exercisable at a price of $0.19 per share.
This private place is subject to approval by the TSX Venture Exchange.
InvestmentPitch.com has produced a "video news alert" which provides an overview
of Passport. If this link is not enabled, please visit www.InvestmentPitch.com
and enter "Passport" in the search box.

The company had previously announced, in November 2012, a non-brokered, fully
subscribed private placement for approximately 69 million units at a   price of
$0.18, with each unit consisting of one common share and one-half of a share
purchase warrant, with each full warrant exercisable at $0.25 for 5 years. Some
of the subscribers to the earlier private placement have opted to participate in
the current debenture private placement rather than the unit offering. Proceeds
will be used to complete a Preliminary Economic Assessment, which the company
anticipates publishing at the end of the first quarter of 2013, as well as
general working capital.

The company is exploring and developing advanced potash properties, focussing on
the Holbrook Basin project, which sits atop a large salt basin, located 7 miles
east of Holbrook, Arizona.

The company's land holdings encompass more than 121,000 acres. Passport has also
entered into a joint exploration agreement with the Hopi Indian Tribe to work
toward developing approximately 13,000 acres of contiguous  privately held Hopi
land.

Potash is used as a major agricultural component in 150 countries. The current
potash market is estimated at 50 million tons annually and is projected to grow
at a rate of 3-4% annually. The United States remains one of the largest net
consumers, while producing only 1,200,000 tons per year.

The company will be presenting at the Global Chinese Financial Forum on January
26th in Richmond, British Columbia.

The shares are currently trading at $0.20.

For more information, please visit the company's website www.passportpotash.com
or contact Clive Mostert at 780-920-5044 or email cmostert@passportpotash.com.


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