Expansion Proposal

Great Salt Lake Minerals Corp. has recently proposed a new project alternative to its permit application with the U.S. Army Corps of Engineers to build new solar evaporation ponds. The new ponds are needed to increase production of our sulfate of potash specialty fertilizer, in order to meet long-term demand.

This alternative was developed to address points raised by stakeholders and the reviewing agencies following public meetings in spring 2009. It incorporates new pond technology to reduce by more than 50% the amount of water needed for new solar evaporation ponds, and calls for incremental development with review between phases.

The permit application includes incremental development of 31,000 acres on secured lease areas and up to 38,000 additional acres on the west side of the lake that the state agreed to lease to us in December 2008. We agreed to receive this lease in exchange for agreeing to relinquish undeveloped leases around Promontory Point that we have held since 1967. Great Salt Lake Minerals intends to develop the areas in the permit application into ponds over time as the need for sulfate of potash increases.