Toronto, Ontario, March 5, 2012 -- Allana Potash Corp. (TSX: AAA) (OTCQX: ALLRF) ("Allana" or the "Company") is pleased to announce that further to its press release on October 3, 2011, as part of its overall project financing strategy, initial discussions with various prospective lenders have been very positive and thus far Allana has received, in aggregate, non-binding indications of interest totaling over $600 million, exceeding the amount of debt financing Allana was initially contemplating to utilize to finance construction of its Dallol potash project (the "Project"). As a result, management is pleased that its targeted capital structure for the Project has thus far been well-received by lenders. Allana intends to continue working with its project financing advisor BNP Paribas, technical consultant ERCOSPLAN and prospective lenders as the necessary elements of the Project's construction and operations are refined in the ongoing feasibility study, ESIA and pre-production work through 2012. Allana expects the technical and commercial commitments for the Project to be completed by late 2012, thereby allowing for the closing of the project debt financing and start of construction in early 2013.