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Gensource Provides Business Update

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Gensource Potash Corporation ("Gensource" or the "Company") (TSX.V:
GSP
) is pleased to provide the following general business update to
shareholders and to announce a scheduled shareholder conference call.

The Company, in late March, in two separate news releases, announced two
non-binding memorandums of understanding ("MOU") with large, well
established players in the North American agriculture industry, both of
which are based in the USA. The subject of the MOUs was off-take for the
future potash product from a Gensource production facility (the term
"off-take" is simply the commitment to purchase product), and both MOUs
were similar in that they contemplated the purchase of the full
production from one of Gensource's modules of 250,000 t/year production
capacity for an extended period. With these MOUs now signed, Gensource
is proceeding with the next steps, which are: 1) the negotiation of
definitive off-take agreements based on the MOUs and, 2) Project
financing based on the off-taker agreement(s). With these two items
completed, the Company will proceed with construction of the first
project as expeditiously as possible.

An MOU is the first step towards a definitive off-take agreement, and an
off-take agreement is a key milestone for Gensource. Shareholders will
be aware that the Company's business plan is based on two pillars: 1) be
small, efficient and respectful of both your community and the
environment, and; 2) be vertically integrated. A definitive off-take
agreement is important for a number of reasons:
    1. It removes
the perceived "market risk" from developing a project – "market risk" is
summed up in the statement "where will you sell all the product you
produce?".
    2. It acts as a financing "instrument" – i.e., if
the terms of the definitive agreement are acceptable to financial
institutions, they may provide project financing on the basis of the
off-take agreement, and
    3. Most importantly, an off-take
agreement with the parties that Gensource is dealing with represents the
second pillar ("be vertically integrated") in the Company's business
plan – both of the parties Gensource is dealing with have direct retail
access to the US and Canadian farmer and that fits very well,
philosophically, with Gensource's aim to be vertically integrated and to
be part of the supply chain that reaches directly to the farmer and
circumvents current restrictive potash distribution models for the
farmers' benefit.

As outlined in the news releases of March 22 and March 27, the goal is
to complete off-take agreements by the end of April and work is well
underway in that regard. Simultaneously with the negotiation of off-take
agreements, Gensource is in discussions with project finance
organizations (both equity and debt providers) to begin the financing
process and make the timelines to completion of both the off-take
agreements and the financing packages as efficient as possible. Timing
is always difficult to pin down definitively, but if our current
schedule can be maintained, we hope to be in the field with initial
construction activities this summer.

Gensource will host its next quarterly conference call on Thursday April
12, 2018 at 4:00 p.m. Eastern time. Dial-in number for the conference
call is: 1-866-486-8901. We invite you to join us to hear directly how
your company is progressing, and also encourage you to submit questions
in advance to info@gensource.com
– we will work to address every question we receive during the
conference call. We look forward to your participation. The call will
also be archived through the Company's Investor News page at www.gensource.ca.

Gensource's President & CEO, Mike Ferguson, said, "We at Gensource felt
it was important to provide this general business update. A lot has
happened over the past short period and we wanted to be sure that our
shareholders, firstly, understood what is going on at the Company, and
secondly, understood the context of all this activity. We are very
excited with the current activities because they represent significant
steps towards the construction of the first module, but also because the
path followed by the company to-date is in complete alignment with our
goals and objectives. As we've stated many times, we are here to become
a new and independent potash producer, with the aim of providing better,
more efficient access to potash for agricultural producers … not just
producing more tonnes to throw into the general market."

About Gensource

Gensource is based in Saskatoon, Saskatchewan and is focused on
developing the next potash production facility in that province.
Gensource's President and CEO, Mike Ferguson, P.Eng., has assembled a
management and technical team with direct and specific expertise and
experience in potash development in Saskatchewan.

Gensource operates under a business plan that has two key components -
vertical integration with the market to ensure that all production
capacity built is directed to a specific market, eliminating market-side
risk; and, technical innovation which will allow for a small and
economic potash production facility, while the same time demonstrating
significant reductions in community and environmental impact.

Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This news release may contain forward looking information and
Gensource cautions readers that forward- looking information is based on
certain assumptions and risk factors that could cause actual results to
differ materially from the expectations of Gensource included in this
news release. This news release includes certain "forward-looking
statements", which often, but not always, can be identified by the use
of words such as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". These statements are based
on information currently available to Gensource and Gensource provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements with respect
to Gensource's future plans, objectives or goals, to the effect that
Gensource or management expects a stated condition or result to occur,
including completion of the definitive offtake agreement on terms as
announced or at all, securing project financing on terms which are
economic or at all, the establishment of vertical integration
partnerships and the sourcing of end use potash purchasers. Since
forward-looking statements are based on assumptions and address future
events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to Gensource's financial
condition and prospects, completion of the definitive offtake agreement
on terms as announced or at all, securing project financing on terms
which are economic or at all, the ability to establish viable vertical
integration partnerships and the sourcing of end use potash purchasers
could differ materially from those currently anticipated in such
statements for many reasons such as: failure to settle a definitive
joint venture agreement with a party and advance and finance the
project; changes in general economic conditions and conditions in the
financial markets; the ability to complete the offtake agreement on
terms as announced or at all or to find and source other off-take
agreements; the ability to secure project financing on terms which are
economic or at all; changes in demand and prices for potash; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties
encountered in connection with Gensource's activities; and other matters
discussed in this news release and in filings made with securities
regulators. This list is not exhaustive of the factors that may affect
any of Gensource's forward-looking statements. These and other factors
should be considered carefully and readers should not place undue
reliance on Gensource's forward-looking statements. Gensource does not
undertake to update any forward-looking statement that may be made from
time to time by Gensource or on its behalf, except in accordance with
applicable securities laws.

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