Passport Potash Inc. Signs LOI to Acquire 41,000 Acres of Royalty Free Private Land

VANCOUVER, BRITISH COLUMBIA, Aug 23, 2011 (MARKETWIRE via COMTEX News Network) --

Passport Potash Inc. (TSX VENTURE: PPI)(OTCQX: PPRTF) is pleased to announce that it has signed a letter of intent to acquire the Fitzgerald Ranch which lies directly adjacent to the company's Twin Buttes Ranch. With this acquisition Passport will increase its land holdings in Arizona's Holbrook Basin by over 41,000 contiguous acres of royalty-free private land.

This expands Passport's foothold in the basin to include land providing continuity with its north and south holdings in the western portions of the Holbrook Basin, creating one contiguous block and increasing Passport's land holdings to more than 121,000 acres, or nearly 190 square miles.

This acquisition is strategic to Passport for a number of reasons, including:

--  There is no royalty attached to the agreement;
--  The property abuts the Twin Buttes Ranch and forms a contiguous block of
    over 71,000 acres of surface and minerals that will be owned in fee by
    Passport;
--  The purchase will bring the total Passport land holdings to over 121,000
    acres;
--  The property provides crucial access to Passport's holdings to the south
    of highway 180 and the private lands owned by the Hopi tribe; and
--  This acquisition provides additional BNSF railway frontage along the
    north side of the property. Highway 180 runs through the property for
    approximately 13 miles providing frontage for Passport's holdings on the
    north and south sides of the highway.

Passport President Joshua Bleak commented, "This is a terrific advancement for Passport. Not only have we more than doubled our private land holdings, we have also increased our exposure to the infrastructure needed for transportation of finished product. It is significant to note that this acquisition was made without entangling the company in a royalty agreement thereby maximizing the potential for future revenue."

For a visual of the Fitzgerald acquisition click here:

http://www.passportpotash.com/investors/media-coverage/map-files.html.

About Passport Potash, Inc.

Passport Potash Inc. is a publicly traded corporation engaged in the exploration and development of advanced potash properties with its major focus on a previously explored potash property in Arizona. Passport has acquired a strategic position in the Holbrook Basin with land holdings encompassing over 81,315 acres. For more information regarding the Holbrook Basin, please visit http://www.azgs.az.gov/arizona_geology/Summer%2008.pdf.

Stephen B. Butrenchuk, P.Geol., Director of Passport, is the Qualified Person as defined in National Instrument 43-101.

On behalf of the Board of Directors of Passport Potash Inc.

Joshua Bleak, President