Potash One Inc.
TSX : KCL

Potash One Inc.

December 15, 2008 09:00 ET

Potash One Announces Engagement of SNC-Lavalin to Participate in the Completion of the Legacy Pre-Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Paul Matysek, President and CEO of Potash One Inc. (TSX:KCL) (the "Company" or "Potash One") is pleased to announce that it has engaged SNC-Lavalin to provide Pre-Feasibility Study services on its Legacy Project in Southern Saskatchewan.

Following the creation of its Solution Mining and Process Technical Leadership Teams (see News Release dated November 6, 2008), Potash One created a Request for Proposal for Pre-Feasibility Engineering and Management Services. In a competitive bid situation with three senior engineering firms, Canadian-based SNC-Lavalin has been awarded the work following submission of a strong proposal, which was emphasised by a highly-qualified project team featuring key personnel previously involved in SNC-Lavalin's feasibility study mandates for similar projects in Africa and elsewhere. Additionally, SNC-Lavalin nominated a peer review team consisting of strong senior technical and management individuals with solid and recent experience in solution potash mining and evaporation/crystallization processes and technologies.

The SNC-Lavalin team mobilized on December 8th and its key personnel participated in kick-off meetings held in Saskatoon on December 9th and 10th. Initial schedules indicate that the Pre-Feasibility document will be completed by the end of the second quarter 2009.

Potash One, SNC-Lavalin and other consultants will each contribute work related to specific elements of the study scope, which collectively includes all aspects of the project from mining to inter-connecting pipelines, the process plant, site development, on-site and off-site infrastructure, product storage, transport and logistics as well as operating and capital costs. As part of its services SNC-Lavalin will include the work of other consultants in the final report, specifically in the areas of solution mining, processing and product transportation and logistics.

Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., said: "We are delighted to move forward to the pre-feasibility stage of the Legacy Project with SNC-Lavalin. As one of the world's leading groups of engineering and construction companies, SNC-Lavalin will provide great synergy for Potash One's world class team that we have assembled to complete our Pre-Feasibility study. Their contribution to recent potash solution mining projects demonstrates the expertise and technical experience they provide and we are confident they will add significant value towards producing a high quality study for the Legacy Project."

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 of 330,000 acres of contiguous Potash Subsurface Exploration Permits in Saskatchewan, Canada. It includes the 97,240 acre Legacy Project which has 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 and is adjacent to the largest producing solution potash mine in the world.

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
    Website: www.potash1.com