Potash One Inc.
TSX VENTURE : KCL

Potash One Inc.

March 03, 2008 09:30 ET

Potash One Initiates Engineering and Environmental Studies on the Legacy Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2008) - Potash One Inc. (TSX VENTURE:KCL) (the "Company" or "Potash One") is pleased to announce that the Company has commissioned Golder Associates Ltd. to commence engineering and environmental studies in relation to Potash One's potash project in Saskatchewan (the "Legacy Project"). Phase I of this comprehensive environmental impact assessment program will allow the company to gather information which will direct and focus field activities, investigations and assessments. The Saskatoon office of Golder Associates Ltd. will conduct these studies. It is estimated that the initial work will be completed in approximately 8 weeks.

The purpose of Phase I of the EIA program is to initiate the collection of additional site-specific baseline data necessary for project planning, environmental assessment and subsequent regulatory permitting for Legacy Project.

Paul Matysek, President and CEO of Potash One, stated: "We are pleased to have retained a strong and local engineering and environmental services group. Golder is a premier company in Saskatchewan that has provided various services to major potash producers including Potash Corporation of Saskatchewan, Agrium and Mosaic. We look forward to working with Golder Associates Ltd. in this and subsequent phases of our environmental and engineering program."

About Golder Associates

Golder Associates Ltd., a global group of technical professionals specializing in ground engineering and environmental services, was established in 1960. The firm has strong integrated engineering and environmental capabilities and has experienced steady growth, now employing over 6,000 people who operate from more than 150 offices located throughout Africa, Asia, Australasia, Europe, North America and South America.

Golder has provided a variety of services to potash producers including the Potash Corporation of Saskatchewan, Agrium and Mosaic in Canada, Brazil and Argentina. Services have included geotechnical engineering, tailings management planning and construction, environmental baseline collections, environmental impact studies, regulatory permitting assistance, hydrogeological investigations, underground support evaluations, hydrological/surface water assessments, geophysics, brine containment engineering, and operational environmental auditing.

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 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.

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