Potash One's Second Resource Confirmation Well Intersects a Total of 31.4 Meters of Potash Mineralization With Average Grade of 17.5% K2O

Potash One Inc. (the "Company" or "Potash One") (TSX: KCL)(FRANKFURT: I5X) is pleased to announce that the Company's second resource confirmation well of the 100% owned 97,240 acre Potash One Legacy Project, 'South-2', has intersected a total of 31.4 meters of potash mineralization with a weighted average grade of 17.5% K2O. Well South-2 is located approximately 3.2 km due west of the South-1 well that intersected a total of 39.6 meters of potash mineralization with a weighted average grade of 18.3% K2O, as previously reported by Potash One News Release number "NR 08-30" on December 1, 2008.

The potash intersection consists of three distinct potash mineralization zones. Geological correlation of the potash zones to the Prairie Evaporite geological members is currently ongoing. All depths presented herein are from a vertical hole and as drilled. Potash intervals selected for rock mechanics testing are included in the sum of intervals but not included in the average grade calculations. The following tables summarize select geostatistics of the South-2 well:

Table 1: Thickness and weighted average grade of each zone including all
assay intervals within the zone
--------------------------------------------------------------------
Potash Zone    Depth From  Depth To  Thickness
Number                 (m)       (m)        (m) % K20 % MgO % Insols
--------------------------------------------------------------------
Potash Zone #1     1510.8    1528.2       17.4   18.4   0.1      9.6
--------------------------------------------------------------------
Potash Zone #2     1531.9    1539.3        7.4   16.9   0.1      3.7
--------------------------------------------------------------------
Potash Zone #3     1556.1    1562.6        6.6   15.6   0.0      2.1
--------------------------------------------------------------------
                                          31.4   17.5%  0.1%     8.1%
Table 2: Thickness and weighted average grade distribution of each zone
------------------------------------------------------------------------
                                                              Totals and
               Potash Zone #1 Potash Zone #2 Potash Zone #3     Averages
               -------------- -------------- -------------- ------------
                        Avg %          Avg %          Avg %        Avg %
               Meters     K2O Meters     K2O Meters     K2O Meters   K2O
------------------------------------------------------------------------
Average Grade     6.8    30.1    0.6    30.2    0.3    30.4    7.7  30.1
 greater than
 30% K20
------------------------------------------------------------------------
Average Grade    11.0    25.1    2.4    25.0    1.4    25.3   14.9  25.2
 greater than
 25% K20
------------------------------------------------------------------------
Average Grade    14.9    20.0    5.4    20.2    3.1    20.3   23.4  20.1
 greater than
 20% K20
------------------------------------------------------------------------
Average Grade    17.4    18.4    7.4    16.9    6.6    15.6   31.4  17.5
 greater than
 15% K20
------------------------------------------------------------------------
Table 3: Thickness and weighted average grade including inter-bedded salt
layer Geological Zone
----------------------------------------------------------------------
                Depth From  Depth To  Thickness
Geological Zone         (m)       (m)        (m)  % K20 % MgO % Insols
----------------------------------------------------------------------
Top of Potash       1510.8    1539.3       28.5    15.9%  0.1%     7.2%
 Zone #1 Through
 Base of Potash
 Zone #2
----------------------------------------------------------------------
Top of Potash       1510.8    1562.6       51.8    12.5%  0.1%     5.2%
 Zone #1 Through
 Base of Potash
 Zone #3
----------------------------------------------------------------------

The dual-well solution mining method currently being planned by Potash One will allow the solution mining of one, two or all three mineralized potash zones from a single solution mining cavern. Solution mining technology has the direct benefits of scalable production capacity, lower capital cost, shorter timeline to production and significantly less mining risk, as compared to conventional potash operations.

Paul F. Matysek, President and Chief Executive Officer of Potash One, stated that, "I am very encouraged by the results of our second hole. South-2 compares favorably to the historic drill holes that formed the previously reported NI 43-101 resource estimate on the Legacy Project. A comparison of geophysical and assay results indicates lateral continuity between drill holes South-1 and South-2."

South-2 was cored from 1492m to 1600m to obtain a record of the potash mineralization. Under the direction of Debbie Shewfelt, M.Sc., P. Geo., North Rim Exploration Ltd., the core was packaged, shipped, cut, logged, and sample intervals were prepared.

In the mineralized potash zones, the 4-inch South-2 cores were first cut in half then one of the core halves was sampled and assayed. The average assay length for the South-2 core was 0.24 meters. A total of 269 assays were completed over 73 meters of core.

The prepared samples were then forwarded to the Geoanalytical Laboratories at the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan where they were crushed, split, and analyzed using SRC's basic potash package. Quality assurance and quality control measures were strictly adhered to, including the use of standards, blanks and repeats throughout the analyses. SRC is ISO accredited to 17025.

To date, Potash One has drilled over 6,000 meters and has completed four resource confirmation drill holes: South-1, South-2, South-3, and South-4. Core samples for South-3 and South-4 are currently being prepared for analysis.

Potash One continues to focus on the southern area of the lease where resource confirmation drilling is scheduled to continue into early 2009. The drilling program has been designed to fully support a solution mining pre-feasibility study that is targeted for completion in the second quarter of 2009.

The assay results and this news release have been reviewed by Dr. Michael Hardy P.E., Agapito and Associates Inc., and Steve Halabura P. Geo., North Rim Exploration Limited. Both individuals are Qualified Persons under NI 43-101.

The technical content in this news release has been read and approved by Debbie Shewfelt, M.Sc., P. Geo., a consultant to Potash One. Shewfelt is a Professional Geologist registered in the province Saskatchewan and is a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer

About Potash One Inc.:

Potash One Inc. is a TSX-listed Canadian resource company engaged in the exploration and development of advanced potash properties amenable to solution mining. The Company owns 100% of more than 330,000 acres of contiguous Potash Subsurface Exploration Permits in Saskatchewan, Canada. This land package includes the 97,240 acre Legacy Project that has a NI 43-101-compliant Inferred Mineral Resource of 391.5 million tonnes of K2O and Indicated Mineral Resource of 40.8 million tonnes of K2O. The Legacy Project is adjacent to the largest producing solution potash mine in the world.

Contacts: Potash One Inc. Paul F. Matysek, M.Sc., P.Geo. President and Chief Executive Officer (604) 331-4431 (604) 408-4799 (FAX) Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.potash1.com

SOURCE: Potash One Inc.

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