AgriMinco Corp. announced that further to the joint venture between the company and Danakil Potash Corporation ("Danakil Corp.") as further described in the company's press release dated July 4, 2013, the company, Danakil Corp. and Danakil Holdings Limited ("JVCo", which is 30% owned by the company and 70% owned by Danakil Corp.) have entered into a Deed of Variation with respect to how the company and Danakil Corp.

would operate JVCo and develop the Danakil potash licence in Ethiopia. The Deed states that: Danakil Corp. is solely responsible for the funding the first $7 million of project expenditures relating to development of the Licence; after completion of such $7 million funding obligation by Danakil Corp.

and in the event that the company is required to advance any cash calls by JVCo prior to March 31, 2014, such advance shall be made by Danakil Corp. and the company shall reimburse Danakil Corp. within 7 days of March 31, 2014, failing which, the company's interest in JVCo will be diluted in accordance with the remaining terms of the JV; the definition of project expenditures includes all costs incurred in relation to the preparation of a Canadian National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate and technical, logistical, environmental, and other studies related to the exploration, development and mining of the Licence area; and the company's interest in JVCo cannot be diluted below 10% until a definitive "feasibility study" (within the meaning of NI 43-101) on the Licence is produced and that if a shareholder's interest is diluted below 10% such interest shall be redeemed for a 1% royalty over the gross sales revenues (less any taxes or applicable government royalty or government share of revenues attributable to any ownership interest) from the sale of potash.