Potash One Inc.
TSX VENTURE : KCL

Potash One Inc.

May 16, 2008 12:42 ET

Potash One Reports Appointment of Chairman of the Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2008) - Potash One Inc. (the "Company" or "Potash One") (TSX VENTURE:KCL) is pleased to appoint David Berg, as Chairman of the Board of the Company. As an existing member of the Board of Potash One, Mr. Berg has shown strong leadership in developing our marketing and investor network in China and other international markets. He has fostered a number of key relationships, which have the potential of providing the Company with the ability to expedite the development of the Legacy Project and to secure future marketing contracts.Paul F. Matysek, president and chief executive officer of Potash One, stated, "I am pleased with the unanimous decision of our Board to appoint David to the position of Chairman. He has a solid business and management background. His professional and team oriented approach coupled with his strategic thinking will certainly help fast track our corporate mandate to move from development to production in an expeditious manner. The Board and my management team look forward to working closely with Dave as we collectively focus on securing a dominant position in Canada's largest potash-producing solution mining region."

Mr. David A. Berg has spent over 28 years of consecutive service with one of Canada's largest publicly traded companies, Loblaw's Group of Companies Ltd. His most recent responsibility was serving in the capacity of Vice President of Operations for a business unit in Western Canada representing $1.5 billion in annual revenue with a total of 8,500 employees. Mr. Berg brings a wealth of financial services and energy business acumen to the Board.

ON BEHALF OF THE BOARD OF DIRECTORS,

Paul F. Matysek, M.Sc., P.Geo.

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 ("the Legacy Project") and owns 100% of three other Potash Subsurface Exploration Permits covering 239,000 acres that are contiguous to the Legacy Project in Saskatchewan, Canada. The Legacy Project was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation and is adjacent to one of the largest producing solution potash mines 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) 684-9007 (FAX)
    Email: info@potash1.com