Potash One Inc.
TSX VENTURE : KCL

Potash One Inc.

January 29, 2008 12:37 ET

Potash One Announces Appointment of CFO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Potash One Inc. (the "Company" or "Potash One") (TSX VENTURE:KCL) is pleased to announce the appointment of George Lim, CA, CGA, as Chief Financial Officer of the Company. Mr. Lim brings more than 30 years of accounting and financial management expertise to Potash One Inc. Previously, he was the Chief Financial Officer of Energy Metals Corporation, a NYSE-ARCA based company. Prior to this, Mr. Lim was the Chief Financial Officer of a group of resource companies for 5 years with operations in North and South America, Australia and Africa. He began his career at KMPG and has since held roles of increasing responsibility, several of which were senior roles in public practice and in the mining industry. As a key member of the Company's management team, George will provide financial leadership and play an important role in the Company's growth plans.

Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., stated: "I welcome the opportunity to work with George again, as he brings a wealth of experience to our Company. George will be a valuable addition to our management team as Potash One enters its next phase of growth."

Paul F. Matysek, continued: "I would also like to extend my sincere thanks to Mr. Jenkins for his contribution to the evolution of the Company over the last year."

The Company has also granted an additional 600,000 stock options pursuant to its previously approved stock option plan to directors, officers and consultants. These options were granted at an exercise price of $3.55 per share for a period of three years.

About Potash One:

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 holds an option to acquire 100% interest in 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. The Company has a solid balance sheet and experienced technical and corporate management to advance its current project to the next level.

ON BEHALF OF THE BOARD OF DIRECTORS,

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

Forward Looking Statement

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address further production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions such statements are not guarantees of further performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Potash One Inc.
    Paul F. Matysek, M.Sc., P.Geo.
    President and Chief Executive Officer
    (604) 331-4431
    (604) 608-4979 (FAX)
    Email: info@potash1.com