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Corporate Presentation June 2011

Farhad Abasov, President and CEO. Corporate Presentation June 2011. Forward Looking Statements.

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Corporate Presentation June 2011

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  1. Farhad Abasov, President and CEO Corporate Presentation June 2011

  2. 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.

  3. Investment Highlights

  4. Capital Structure

  5. Strong Management Team & Board 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, ExplorationOver 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 Mr. Scott, P. Eng., MBA, has over 25 years of leadership experience worldwide in the resource, energy, infrastructure and industrial technology industries in project development and financing, risk modeling, contract negotiation, valuations, acquisitions and divestments, and strategic planning. 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. .

  6. Strong Management Team & Board BOARD OF DIRECTORS Maj.-Gen. (Ret.) Lewis MacKenzie, DirectorFormer Canadian Armed Forces General; lead the U.N. Peacekeeping effort in Sarajevo. Dr. Mark Stauffer, Director Former President of Potash and Phosphate Institute of Canada, over 30 years of experience in potash and fertilizer business. Richard Lacroix, Director Former Senior Vice President , Potash Corp of Saskatchewan, former Board Member of Canpotex, and former Chairman of Canpotex Bulk Terminals, 30 years with PCS Farhad Abasov, MBA,President, CEO & Director Diana Walters, Director Current President/CEO of Liberty Mining and Metals, over 20 years in management positions with energy and mining companies. 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 of Behre Dolbear Capital, Inc. and Chartwell Ventures Inc., formerly served as the President and Chairman of the Potash Company of America. Also the Chairman of Canpotex Limited, The Potash and Phosphate Institute, the Foundation for Agronomic Research and the Saskatchewan Potash Producers Association.

  7. Strong Management Team & Board Allana Potash • Stable democratic government with a commitment to foreign investment • 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 • Reasonably developed infrastructure: 18 airports, hydro and geothermal power plants • Close relationship of Allana to government Ethiopia

  8. Local Infrastructure • 160 km² land package staked in Danakil Depression • 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 • Government has completed a feasibility study for railway construction • Abundant fresh water (up to 700 gal/min) in already drilled water wells • Additional fresh water sources at Regali River and Lake Afdera • No sensitive environmental issues

  9. Potentially lowest CAPEX and OPEX Potash Mine

  10. Strategic Direction-Financial De-Risking • Allana secured support from two strong strategic investors: IFC and LMM • Recently announced $10M strategic investment from International Finance Corp. (IFC) – strong stamp of approval from one of the largest multi-lateral financing organizations in the world • IFC will also support Allana at the construction stage (IFC invested $18 billion in private enterprises worldwide in 2010) • $20 million investment from Liberty Mining and Metals, LLC, a subsidiary of Liberty Mutual Group. Liberty holds approximately 17 % of Allana and is a long-term investor committed to assisting Allana with financing at the mine construction stage

  11. Significant Technical Progress-2010/2011 • Modern camp and roads established in 2010 to support diamond drilling and geophysical surveys • Two diamond drill rigs completed 23 diamond drill holes totaling approximately 10,000 m completed with all holes intersecting potash mineralization • 45 km of 2D seismic survey completed as well as down-hole seismic profiling • Borehole geophysical studies initiated • Water well drilling in progress, six holes completed, pumping tests underway initial results indicate 600 gal/min. • Environmental baseline studies initiated

  12. Drilling Highlights – 2010-2011

  13. Updated 43-101Compliant Resource Estimate (see news release, June 20,2011) *MT=Million tonnes

  14. 43-101 Resource Estimate-by Potash Bed (see news release, June 20,2011) *MT=Million tonnes

  15. Roadmap to Production www.allanapotash.com | TSX.V: AAA

  16. Allana –Best positioned potash play in the world www.allanapotash.com | TSX.V: AAA

  17. Analyst Coverage

  18. Contact Information: www.allanapotash.com | TSX.V: AAA Farhad Abasov President and CEO TELEPHONE: 416-309-2691 EMAIL: fabasov@allanapotash.com

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