KCL Potash One

VANCOUVER, BRITISH COLUMBIA (FRANKFURT: I5X) (the "Company" or "Potash One") is pleased to announce that it has completed a non-brokered equity private placement of 3.5 million units at a price of $4.00 per unit for net proceeds of $14,000,000. (the "Placement"), as previously reported in Stockwatch on February 21, 2008. A total of 165,000 units, representing 5% of certain subscriptions were issued to certain finders for introducing the subscribers to the Company. Wellington West Capital Markets Inc., Peninsula Merchant Syndications Corp and Canaccord Capital Corporation assisted the Company in a portion of the offering. Management of the Company subscribed for 125,000 units of the Placement.

The proceeds from the Placement will be used to expedite the development of the Company's Legacy Potash Project in Saskatchewan and for general corporate purposes.

Paul F. Matysek., President and Chief Executive Officer of Potash One Inc., said: "We are very pleased with the quality and support of our new shareholders. The new funds will be invaluable in assisting our corporate development plans."

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

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.

Contacts: 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

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