Potash One Inc.

Potash One Inc.

September 01, 2009 11:59 ET

Potash One Announces Results of 2009 Shareholders' Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2009) - Potash One Inc. (the "Corporation" or "Potash One") (TSX:KCL) is pleased to announce the results of the annual special meeting (the "ASM") of the Corporation's shareholders held August 31, 2009 in Vancouver, British Columbia, Canada.

Paul F. Matysek, Robert M. Friedland, Thomas R. Tough, William B. Harris, David A. Berg and Douglas B. Forster were re-elected as members of Potash One's board of directors. The Corporation's shareholders re-appointed Davidson & Company LLP, Chartered Accountants as auditors of the Corporation.

Potash One's shareholders also approved the adoption of the Friedland Stock Option Agreement and subsequent amendment to the Corporation's existing Stock Option Plan, the Incentive Plan and the Trust Agreement as more particularly set out in detail in the Management Information Circular delivered to shareholders by the Company in advance of the ASM.

At a meeting of directors held subsequent to the meeting of shareholders, the directors appointed Mr. Friedland as Chairman, Mr. Matysek as President and Chief Executive Officer and Mr. Lim as Chief Financial Officer and Corporate Secretary.

The following committees were also formed for the ensuing year: The audit committee will be comprised of Mr. Berg, Mr. Forster and Mr. Harris; the compensation committee will be comprised of Mr. Berg and Mr. Harris; and the corporate governance and nomination committee will be comprised of Mr. Berg, Mr. Forster and Mr. Harris.

A report of voting results for the ASM has been filed on SEDAR in compliance with securities regulations and is available to the public at www.sedar.com.


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

About Potash One Inc.:

Potash One Inc. is a well-funded TSX-listed Canadian resource company engaged in the exploration and development of advanced potash properties amenable to solution mining. The Company owns more than 515,000 acres of Potash Subsurface Exploration Permits in Saskatchewan, Canada. It also includes the 97,240 acre Legacy Project which has an NI 43-101 Measured Resource of 29 million tonnes of KCl, Indicated Mineral Resource of 222 million tonnes of KCl and an Inferred Mineral Resource of 852 million tonnes of KCl. The Company has recently completed a pre-feasibility study with SNC-Lavalin with robust economics at current potash pricing. The Legacy Project is adjacent to the largest producing solution potash mine in the world.

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 corporation's 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 company's 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 company's business, including risks inherent in mineral exploration and development. The company does not assume the obligation to update any forward-looking statement. There are numerous risks and other factors that will influence a development decision, including concluding resource evaluations on mineral properties, extraction and processing design limitations, financing requirements, permitting risks and economic factors, all of which may be beyond the control of the company.

The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release.

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