Potash One Inc.
TSX VENTURE : KCL

Potash One Inc.

August 12, 2008 18:40 ET

Potash One Completes Technical Site Screening Review and Environmental Regulatory Strategy

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2008) - Potash One Inc. (The "Company" or "Potash One") (TSX VENTURE:KCL) is pleased to announce that it has successfully completed strategic planning for the Environmental Assessment on its 100% owned Legacy Potash Solution Mining Project (The "Project"). Golder Associates ("Golder") has conducted a preliminary technical site screening review for the proposed location of the production complex. The objective of this technical evaluation and strategic planning was to identify any high level risks related to the environmental aspects of the Project in regards to the proposed site of the brine extraction, storage and processing facilities. The review focused on the following components; hydrology, hydrogeology, geotechnical, terrestrial resources, aquatics, land use designations, and heritage resources. No significant issues have been identified which would cause Potash One to stop or alter the Environmental Assessment process. The Company considers all risk areas assessed by Golder in this study manageable and it shall address them, if applicable and required, to complete the environmental permitting process in due course.

As part of the strategic planning process Golder has applied the requirements of the Saskatchewan Environmental Assessment Act to the specifics of the Project. This work has resulted in the development of a Regulatory Strategy, including a Community Consultation Plan and an Environmental Assessment Plan. These plans are intended to inform and guide Potash One through the environmental approval process for the Project.

Paul Matysek, President and CEO of Potash One, noted: "We are pleased to receive Golder's report and findings in which they have concluded that there are no fatal flaws that would impact significantly on the Project's feasibility and proposed timelines. As a result, the Company is maintaining its efforts to complete the required comprehensive environmental baseline studies (initiated last spring) and work with the regulators and stakeholders to address any issues identified in a sustainable manner as we progress through the EA process."

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 Canadian resource company engaged in the identification, acquisition, 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 was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation and is adjacent to the largest producing solution potash mine in the world. In addition, the Company owns 100% of three other Potash Subsurface Exploration Permits over 230,000 acres that are contiguous to the Legacy Project. The Company has NI 43-101 resource, a solid balance sheet, and experienced technical and corporate management to advance the Legacy Project to the next stage.

Contact Information

  • Potash One Inc.
    Paul F. Matysek, M.Sc., P.Geo.
    President and Chief Executive Officer
    (604) 331-4431
    (604) 408-4799 (FAX)
    Email: info@potash1.com