In China, pre-Quaternary solid potash deposit has only been discovered in the Simao Basin, and the Lower Cretaceous Mengyejing (MYJ) Formation (Fm.) is the productive layer of potash deposit. In this study, we investigated the clay conglomerates which are distributed in upper and lower members of the potash-bearing salt rock layer. We analyzed the relative contents of major elements (Al2O3, Fe2OT 3, MgO, CaO, Na2O, K2O) and trace elements (B, Ba, Co, Cr, Cu, Ga, Mn, Ni, Rb, Sr, V, Zn, Zr) in the samples. The results show that MgO and CaO in the major elements are rich relative to Post Archean Australian Shale (PAAS), whose average enrichment factor values of the MgO (EFMgO) is 2.61 and CaO (EFCaO) is 4.57, and the others major elements are relatively minor; trace elements (B, Ga, Mn, Zr) are rich relative to PAAS, and the others trace elements are minor relative to PAAS. The study of paleogeographic conditions using various parameters shows that the paleoclimate is generally dry and hot during the period of clay conglomerate deposition, but it was warm and humid in certain periods; the main sedimentary environment is weak oxidation condition with strong oxidation conditions in individual periods; the average value of paleosalinity is ~21‰, and the highest is no more than ~92‰. The significance of the paleogeographic characteristics of MYJ Fm. to potash mineralization are as follows: (1) they indicates that the clay conglomerates of MYJ Fm. are not clastic sediments in brine formed by seawater, because the paleosalinity of clay conglomerates deposition period is obviously lower than that of seawater; (2) MYJ potassic salt ore is not formed by evaporation and concentration of seawater in clay conglomerates in the sedimentary basin, because there is no carbonate rock and sulfate rock of corresponding scale after the deposition of clay conglomerates in the basin; (3) clay conglomerates of MYJ Fm. were deposited in continental shallow water basin; (4) the matter source of potash minerals is deep marine strata; (5) in the MYJ Fm. sedimentation period, deep source salt moved to the surface under the background of extensional structure, and the subsequent sedimentary clastic rock formed a protective layer of potash-bearing rock, thus completing the “deep source and shallow mineralization” metallogenic process.