Allana Potash Corp. announces its inaugural Analyst and Investor Day to be held on September 5, 2012 in Toronto

TORONTO, ONTARIO -- (Marketwire) -- 08/07/12 -- Allana Potash Corp. (TSX: AAA) (OTCQX: ALLRF) is pleased to announce it will host its inaugural Analyst and Investor Day on Tuesday, September 5, 2012 in Toronto. The event will feature members of Allana's senior leadership team, who will provide the financial community with the Company's forward-looking strategy and highlights from its flagship property in Ethiopia.

Online participants can access a live webcast of the event visiting the Company's homepage at www.allanapotash.com. Following the event, presentations will be available online, in the Investors subsection of the Company's website.

The day's agenda, presentation topics and respective presenters are listed below and are subject to change:

8:00 am - 8:30 am    Registration
8:30 am - 9:00 am    Welcome & Project Update, Farhad Abasov - President &
                     CEO
9:00 am - 9:30 am    Resource Update & Pilot Testing Operations, Peter
                     Maclean - SVP Exploration
9:30 am - 10:00 am   Infrastructure & Project Logistics Update, Jack Scott -
                     SVP, Strategic Projects
10:00 am - 10:30 am  Financing and Market Update, Richard A. Kelertas - SVP,
                     Corporate Development

To register for the live event please email info@investor3.ca, or call 1-888-258-3323. Space is limited. Once registration is confirmed, additional details regarding the venue location and agenda will be sent to each participant directly. For the most current agenda and webcast link, please refer to the Allana Potash homepage at www.allanapotash.com.

About Allana Potash Corp.

Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has secured financial support from two significant strategic investors: IFC, a member of World Bank Group, and Liberty Metals and Mining, a member of Liberty Mutual Group. Allana has measured and indicated Sylvinite resources of 171.36 Million Tonnes of 30.9% KCl; inferred Sylvinite resource of 46.62 million tonnes grading 30.25% KCl; measured and indicated Kainitite resources of 701.55 million tonnes at 20.26% KCl, inferred Kainitite resource of 373.71 million tonnes of 20.35% KCl; measured and indicated Upper Carnallitite resources of 78.5 million tonnes grading 18.4% KCl, inferred Upper Carnallitite resource of 155.53 million tonnes of 16.95% KCl; measured and indicated Lower Carnallitite resources of 269.10 million tonnes of 10.86% KCl, inferred Lower Carnallitite resource of 130.7 million tonnes grading 11.7% KCl. The foregoing mineral resource estimates are as of April 30, 2012 and are set out in the technical report entitled "Updated Resource Report for the Danakhil Potash Deposit, Afar State/Ethiopia" dated June 13, 2012, prepared by ERCOSPLAN and filed on the Company's SEDAR profile at www.sedar.com. Allana has approximately 228.5 million shares outstanding and trades on the Toronto Stock Exchange under the symbol "AAA".

News releases and other information on the Company are available at: www.allanapotash.com.

Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the scientific and technical information presented in this release.

Contacts:

Investor Cubed

647 258 3311
info@investor3.ca