Potash One Inc.: Legacy Project Update

Paul Matysek, President and CEO of Potash One Inc. (the Company or "Potash One") (TSX: KCL) states, "Potash One remains committed to the rapid development of the Legacy Project as management believes that:

- the fundamentals for a Greenfield potash solution mining opportunity in Saskatchewan continue to be strong;

- the solution mining approach to potash production provides many benefits, not the least of which are: lower capital cost to production, shorter timeline to production and significantly reduced technical risk in mining when compared to conventional potash mining techniques;

- despite the current challenging financial market conditions, the Company has sufficient funds to meet its corporate objectives for 2008 and 2009."

Significant developments are underway, including:

1) Development of a world-class technical team, centered on two areas:

- Solution mining: A team is being built to ensure the well, cavern and mine designs are leading edge with minimal technical risk. A key aspect of the mine design is that production is scalable, providing early KCl-rich brine production with greatly reduced capital expenditures.

- Processing: An experienced technical team is being assembled to complete several key trade-off studies (ie., natural gas versus electricity use), select the most appropriate technologies (ie., mechanical vapor recompression versus multiple effect thermal evaporation) and create the basic process designs and data. The process team will also create a scalable processing facility to provide finished product to the market at the earliest possible date.

2) Development of the Legacy Project as follows:

- 2D seismic work has been completed on the southern portion of Legacy Project;

- Baseline environmental data collection for EIA have been underway since January 2008; and the studies and communications required to support an EIA submission to the regulators are on track;

- Resource confirmation drilling program is in progress as announced September 12, 2008;

- Solution mining and processing designs are being prepared.

3) Development of a scalable solution mining economic model, so that, if necessary, the Company can avail itself of lower CAPEX requirements in a credit challenged financial environment.

4) The Company is in the due diligence phase with a number of strategic partners with the objective of structuring an operational and/or financial partnership for the rapid development of the Legacy Project.

Mr. Matysek also states, "I am pleased to report that management, directors and new appointees have recently purchased in excess of 475,000 shares in the open market, demonstrating their confidence in the Legacy Project which is owned 100 percent by Potash One."

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 solution mine amenable potash properties. The Company owns 100% of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan, Canada (the "Legacy Project"). The Legacy Project is adjacent to the largest producing solution potash mine in the world and has NI 43-101 Inferred Mineral Resources of 391.5 million tonnes of K2O and Indicated Mineral Resources of 40.8 million tonnes of K2O.

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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