Potash One Appoints Robert M. Friedland as Chairman, to Assist in Securing Financing for New Canadian Potash Production Project

Potash One Inc. (the "Company" or "Potash One") - Paul Matysek, President and Chief Executive Officer of Potash One Inc. (TSX:KCL), announced today that international financier Robert M. Friedland has agreed to become Chairman of the Board of Potash One. Mr. Friedland will advise the Company on its selection of strategic financing partners to develop Potash One's world-class potash (potassium) fertilizer resources in Saskatchewan, Canada.

In conjunction with Mr. Friedland's appointment as Chairman, Mr. Friedland's Singapore-based venture capital Company, Ivanhoe Capital Pte. Ltd., will work under a non-exclusive contract to introduce Asia-based investors to Potash One.

Potash One's portfolio of exploration permits covers a total of 515,000 acres in Saskatchewan's potash-rich basin, northwest of Regina, which presently supplies approximately one-third of the global demand for this essential food-growing nutrient.

Potash One's initial focus is on the completion of a definitive feasibility study prior to arranging financing to construct a world-scale potash mine utilizing in-situ solution-mining technology for the recovery of potash on the Company's Legacy Project. The Legacy Project currently hosts indicated resources of 40.8 Mt and inferred resources of 391.5 Mt of K20 (measurement of potassium content), with an updated resource estimate pending as part of a nearly completed Pre-Feasibility Study.

Mr. Matysek stated: "Potash One's Legacy Project subject to positive feasibility and financing will be one of the world's first new potash mines to be brought into production since 1987. Mr. Friedland has the experience and understanding of international capital markets that will help fast-track Legacy's development as a reliable and competitive supplier. On behalf of the Board, I look forward to working with one of the world's most influential mining financiers and visionaries."

Mr. Friedland said he accepted the opportunity to participate in this major Canadian potash development after a review of the industry and the importance of the Legacy Project to the agriculture sector in Asia.

"Potash, or potassium, truly is the mineral of life," Mr. Friedland said. "Potash One represents the best new opportunity to develop a world-class potash operation using in-situ recovery technology that will produce a vitally important fertilizer ingredient that is indispensible for hundreds of millions of farmers who produce the food for the world's human and animal populations."

"Ivanhoe Capital is privileged to build a bridge for long-term, strategic capital investment between Canada and our friends in Asian sovereign-wealth funds and state-owned enterprises."

Mr. Friedland has been developing business links in Greater China and the Asia Pacific region for the past 25 years. He is Chairman of Ivanhoe Capital Corporation, his family's private company that specializes in venture capital and project financing from bases in Singapore and Beijing. With his leadership, Ivanhoe executives and affiliated benefiting companies have raised several billion dollars on international capital markets since 1993 to support a variety of natural resources, energy and technology companies.

Mr. Friedland is founder and Executive Chairman of Ivanhoe Mines - a Canadian public company whose shares trade on the New York, NASDAQ and TSX exchanges, and co-founder, Executive Chairman, President and Chief Executive Officer of Ivanhoe Energy, an established oil and gas producer that is developing heavy-oil projects in Canada and Ecuador using its advanced, proprietary, HTL heavy-oil upgrading technology. Ivanhoe Energy is listed on NASDAQ and the Toronto Stock Exchange. He also is Co-Chairman of Sunwing Energy, which is Ivanhoe Energy's operating subsidiary in China and Southeast Asia.

The Board of Directors also announces that Glen MacDonald has resigned as director of Potash One effective May 12, 2009. The Company would like to extend its gratitude to Mr. Macdonald for his contributions and commitment to the Company since joining the Company's board in 2003. Further, the Board would like to thank Mr. David Berg for his stewardship as chairman of the Board since 2007 and thank him for continuing on as a director of the Board.

About Potash One Inc.:

Potash One Inc. is a well-funded TSX-listed Canadian resource company engaged in development of advanced potash properties amenable to solution mining. The Company owns 100% of more than 515,000 acres of Potash Subsurface Exploration Permits in Saskatchewan, Canada. This includes the 97,240 acre Legacy Project which has an NI 43-101-compliant Indicated Mineral Resource of 40.8 million tonnes of K2O and an Inferred Mineral Resource of 391.5 million tonnes of K2O. The Legacy Project is adjacent to the largest producing solution potash mine in the world. Solution mining is scalable, with shorter time to production, and has significantly lower capex relative to conventional underground mines.

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the corporations' periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Statements in this press release other than purely historical information, including statements relating to the companies' future plans and objectives or expected results, constitute forward-looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the companies' business, including risks inherent in mineral exploration and development. The companies do not assume the obligation to update any forward-looking statement. In particular, no representation is made in this release as to the timing of the business combination, whether the business combination will complete on the terms described herein or at all, the success or value of the combined companies after the business combination. In addition, there are numerous risks and other factors that will influence a development decision, including concluding resource evaluations on mineral properties, mine design limitations, permitting risks and economic factors, all of which may be beyond our control.

SOURCE: Potash One Inc.

Potash One Inc. Paul F. Matysek, M.Sc., P.Geo. President and Chief Executive Officer (604) 331-4431 (604) 408-4799 (FAX) This email address is being protected from spambots. You need JavaScript enabled to view it. www.potash1.com Ivanhoe Capital Bob Williamson (604) 688-7166 This email address is being protected from spambots. You need JavaScript enabled to view it.