October 2011

2

Elk Point Basin

WPX Milestone Project

WPX ManitobaProject

3

Milestone Saskatchewan

4

Milestone Timeline

Present

5

Scoping Study Highlights

AMEC’s EPCM experience with five

Potash Corp mines adds credibility to

the CAPEX estimates for this project.

• (NPV10) 5.22 Bn1 CAD: IRR 27.3%*1. CRU Projected prices ($511)

• Production rate of 2.5 Mt per year

• 40 year mine life

• Total CAPEX $2.51 billion CAD

• 8.5% Reduction of production costs due to the high formation temperatures

6

PFS Highlights

Target Annual Production rate 2.8 Mt/yr

Life of Mine 40 years

Years of Construction 3

Construction Start-up 2013

Mining Start-up 2016

Years to Full Secondary Production 6

Long Term Potash Price (FOB Gate) $511/ tonne USD

Assumed Exchange Rate US$/CAD$ 1.00

Taxes and Royalties $28.90/ tonne CAD

Sustaining CAPEX Rate % 2.0%

Base Case 100% Equity

OPEX $62.35/ tonne CAD

Initial CAPEX $2.458 Billion CAD

Port CAPEX $300 Million CAD

Total Initial CAPEX $2.758 Billion CAD

NPV (10) $4.14 Billion CAD

IRR 22.7%

Payback Period 5 Years

7

Geothermal Gradients

8

Annual Earning Comparisons

(Oct 25th 2011, average prices) Milestone Potash Project Gold Copper

Commodity Price $500/t $1,700/tr oz $3.42/lb

Annual Production 2.5 mt/year 0.74 M oz 365 M lbs

Life of Mine 40 years 40 years 40 years

Recovered Grade 30.5% 2.79 g/t 2.02 % Cu

Mining Cost $60/t $204/Oz $0.41/lb

* Gate Price excludes shipping to market ( $360/T KCl f.o.b.Vancouver)