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Western Potash Files Updated NI 43-101 Report

Western Resources Corp. (TSX: WRX) ("Western" or the "Company") is pleased to announce that its wholly-owned subsidiary, Western Potash Corp has filed an updated NI 43-101 Technical Report (the "Report") for its Milestone Phase 1 Project (the "Phase 1 Project") on SEDAR on December 29, 2021, in conjunction with the filing of the Company's Audited Consolidated Financial Statements, Management Discussion & Analysis, and Annual Information Form. These documents are now available at www.sedar.com .

Western released preliminary findings of the Report in a news release dated November 19, 2021. In the Report, the after-tax project net present value ("NPV") is $CAD197.7M compared with $CAD225.8M reported in the November 19, 2021 news release. The Phase 1 Project's post-tax internal rate of return remains unchanged at 20.4%. The change in NPV is due to revised product transportation costs, adjustments to project taxation, and production optimizations. The revised financial model supporting the Report is part of a continual improvement process for the Phase 1 Project to provide the best possible outcomes and reduce project risk. The Report also confirms an expansion of the mine life from 12 to 40 years.

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Western Potash Receives Key Findings of Updated NI 43-101 Report

Western Resources Corp. (TSX: WRX) ("Western" or "the Company") is pleased to announce that Western Potash Corp. ("WPC"), the company's wholly-owned subsidiary, has received key findings from its upcoming NI 43-101 report ("Report") for its Milestone Phase I Project ("The Phase I Project") in southern Saskatchewan. The Report is based on the expansion of the mine life from 12 years to 40 years and the update of the mining plan.

The technical Report is being prepared by March Consulting Associates Inc. ("March"). March is an engineering and project management provider with extensive experience in delivering mining projects across Saskatchewan.

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Western Resources Provides Corporate and Project Update

Western Resources Corp. (TSX: WRX) (the "Company") is pleased to report on the overall status of and progress on the Company's Milestone Potash Phase 1 Project (the "Project") operated by the Company's wholly-owned subsidiary, Western Potash Corp. ("Western"), and the Company's gradual phase out of its real estate investments from its business model in order to improve its financial position and refocus its efforts on the successful completion of the Project.

Since suspending construction of the Project in May of last year, Western has continued advancing and optimizing its mining operations. These are key to securing the remaining project financing required to complete the balance of plant construction. From April 28, 2020, when hot mining started, until its suspension on May 28 this year, Western's operation team has accumulated extensive experience and collected valuable mining data relevant to the application of its innovative solution mining technology. After extensive analysis of the data, and with the help of a number of leading solution mining experts, Western is developing an optimized solution mining plan.

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