Objective Capital's Industrial Minerals & Metals Resources Investment Forum 2012 Ironmongers' Hall, City of London 6 November 2012 Speaker: Alan Cruickshank, Gensource

1. INDUSTRIAL MINERALS &
METAL RESOURCES
INVESTMENT FORUM
Alan Cruickshank – CEO, Gensource
IRONMONGERS’ HALL, CITY OF LONDON TUESDAY, 6 NOV 2012
www.ObjectiveCapitalConferences.com

2. Investing in Resource Development
Investing in Saskatchewan

3. DISCLAIMER
This presentation contains certain forward-looking statements relating, but not limited, to Gensource’s
expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward looking
words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intent”, “estimate”, “may” and “will” or similar
words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking information may include reserve and resource
estimates, estimates of future production, costs of capital projects and timing of commencement of
operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors
that could cause actual results to differ materially from any forward-looking statement include, but are not limited
to, failure to establish estimated resources and reserves, the recovery of resources varying from estimates, capital
and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects and other factors. Forward-looking statements are
subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected
results.
Shareholders and prospective investors should be aware that these statements are subject to known and unknown
risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the
forward-looking statements. Shareholders are cautioned not to place undue reliance on forward-looking
information. By its nature, forward-looking information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections
and various future events will not occur. Gensource undertakes no obligation to update publicly or otherwise revise
any forward-looking information whether as a result of new information, future events or other such factors which
affect this information, except as required by law.
This caution is provided in accordance with the requirements of Parts 4A and 4B of National Instrument 51-102
Continuous Disclosure Obligations, respecting disclosure of forward looking information. 14

4. Gensource Capital Corporation
 Shares outstanding – 100 million
 Fully Diluted 127 million
 Directors/Management and closely held – 30%
 Cash on hand - $3 million
 Market Capitalization - $7 million

5. Feed the plants that feed the world
A wholly owned subsidiary of Gensource Capital Corporation

6. Highlights – Why Gensource Potash?
1. Best Location - Saskatchewan is the world leader in Potash supply-
massive deposits, low mining cost, stable Government
2. Growing demand – Major Potash consumers can acquire
operations to hedge long term food production costs at less than
50% of wholesale
3. Strategic Land Position – select land package where next mine will
be located
4. World Class Experienced Production Team
- Steve Halabura – PGeo (Hons)– Geological – 30 years experience
- Mike Ferguson PEng. Technical – 30 years experience
- Alan Cruickshank CEO/Financial - 25 years experience

7. Objective
1. To acquire additional prospective potash ground where
the next potash mine is expected to be put into
production
2. To partner with 1 or more Global companies that are
capable of putting a potash mine into production
3. To attract strategic investors who want exposure to
potash project development in Saskatchewan

8. Business Model for Gensource Potash
 Acquire strategic land base
 Increase valuation with exploration and development
 Will receive land based mineral royalty on production
 Contract with large Global partner to develop property
into a turn key mineable project
 For Joint Venture Partner
 Most cost effective process to production
 50 + year mine life in best global potash basin
 For Gensource
 Clear project development timeline
 Substantial Value add

9. SASKATCHEWAN – WHERE?
LOCATION
• Mid-continent
• Hot summers,
cold winters
• Rail to Pacific

10. “Wave 1”
(1947 – 1955) :
 Unity (1951)
 Patience Lake (1959)
 Esterhazy (1962)
“Wave 2”
(1959 – 1971) :
 Belle Plaine (1964)
 Allan (1968)
 Lanigan (1968)
 Cory (1968)
 Vanscoy (1969)
 Colonsay (1969)
 Rocanville (1970)
“Wave 3”
(2005 – 20??) :

11. POTASH STRATIGRAPHY
3 MAIN POTASH –
BEARING BEDS
UPPERMOST BED IS THE
PATIENCE LAKE MEMBER
(Main mining zone in
west of Sask)
MIDDLE BED IS BELLE
PLAINE MEMBER (Not
mined) Proven Leaders in
• Financing
LOWERMOST BED IS
ESTERHAZY MEMBER • Geology
(Main mining zone in • Engineering
east of Sask) • Banking
INTERVENING BEDS ARE
HALITE WITH CLAYS

12. MINING LIFE
TOTAL RESOURCE REMAINING:
85 billion tonnes
YEARS OF MINING @ 30MM TONNES PER
YEAR
2,830 Years

13. LAND POSITIONS - 2005
Proven Leaders in
• Financing
• Geology
• Engineering
• Banking

14. LAND POSITIONS - 2011
Proven Leaders in
• Financing
• Geology
• Engineering
• Banking

15. CONVENTIONAL POTASH MINING
• Long room and pillar or chevron mining methods
• Mined with automated continuous miners (~650t/h)
• Ore conveyed to load-out and hoisted up shafts for processing
• ROCK MECHANICS CRUCIAL as natural support is provided
by ore “in-place” pillars (40% mined & 60% left in place)
• Thermal gradient at 1000m is ~27oC.
• In summary an UNDERGROUND CITY

16. SOLUTION POTASH MINING
•Mined by DISSOLVING ORE using heated brine
o
and in-situ temperature (>40 C in the cavern.)
•A solution of KCl and halite pumped to surface
•Cylindrical shape ~50m wide
and ~40m tall
•Thermal Gradient at 1600m
is ~42oC.
•In summary a HEAT and
CHEMICAL ENGINE

17. YIELD
Each square mile
(mi2)
= 5 to 7 MMt K2O
(Slide courtesy of
Potash One Inc.)

18. FATAL FLAWS TO MINING
• Fatal Flaw 1: The nature of the potash deposit itself
(grade, mineralogy, and deposition);
• Fatal Flaw 2: Post-depositional alteration (dissolution,
recrystallization, and reworking);
• Fatal Flaw 3: Mining integrity (depth, temperature,
rock mechanics, and hydrology); and
• Fatal Flaw 4: Technology (mining and processing).

19. Keys to a Successful Potash Development
 Market Access
 The potash market is dominated by few major players
 New players want access to long term secure supply
 Financial Resources
 Cost of mining operations substantial
 Long term high quality production profile
 Technical Know How
 Requires team with direct project experience
 Requires local knowledge of where to mine
 Requires financial resources

20. President/ CEO Gensource Potash
Project Management – Mine Engineer
Mr. Michael Ferguson PEng.
President/ CEO Gensource Potash
mike@gensource.ca

21. Chairman Gensource Potash
Geology and GeoTechnical
Stephen Halabura P.Geo. F.E.C. (Hon.)
Chairman GensourcePotash
steveh@gensource.ca
Steve is a geologist and resource entrepreneur, since
1984. He began his potash career in 1989 by consulting
to Saskatchewan producers in the field of mining
operations and brine inflows. During this period Steve
undertook some 80 separate evaluations and studies.
In 2005 Steve undertook the initial geological work for
Anglo Potash (now the BHP Billiton Jansen, Boulder, &
Young projects). He was also co-founder of Invictus
Minerals Corp. the private corporation that became the
basis for Potash One’s (now K+S) “Legacy” solution
mining project.
Steve also has consulted to various other potash projects
including Athabasca “Burrr” (now BHPB), Agrium’s
“Triton”, Karnalyte’s “Wynyard”, and Alllana’s (danakhil
(Ethiopia).

22. President /CEO – Gensource Capital
Management and Finance
Alan Cruickshank
President and CEO
Gensource Capital Corporation
alan@gensource.ca
Alan Cruickshank has been in the investment capital business for more than 25 years as an
Investment Advisor, Branch Manager, and senior executive, with a national investment firm(s).
During his career of building companies and agencies he has served as the President and CEO of
many companies, usually early stage. He has been instrumental in providing leadership, vision and
especially financing. He was responsible for the structuring and all the private capital pre-IPO for
Athabasca Potash Corp. In addition early 2006 he financed Anglo Potash Ltd. Both companies were
very successful as they purchased by BHP Billiton for a combined total of over $750 million and
created well over $200 million new net worth for his clients many of which are from Saskatchewan.
Since 1999, Alan has acted as agent for transactions topping $200 million, completing a number of
initial public offerings. He has a number of industry designations and has been active in the
industry, not only serving on the Investment Dealers Association district council but as an inaugural
director of the Investment Industry Association of Canada.

23. Board of Directors - Gensource
Capital Corporation
Norman Brewster – Chairman
- Has put mines into production
- Former Chairman of Iberian Minerals
Conor Bill – Director
- President/CEO Artemis Funds
Michael Newman - Director
- Over 30 years experience in numerous public companies
Stephen Halabura – PGeo
Alan Cruickshank – President and CEO

24. Contact
Alan Cruickshank
President and CEO
Gensource Capital Corporation
Suite 1120 201 1st Ave S.
Saskatoon, Saskatchewan
alan@gensource.ca
306-974-6406
www.gensource.ca