VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: KCL) is pleased to announce that it has agreed to sell the two permit applications it recently acquired (see our news releases of March 26th, 2008 and April 9th, 2008) to 0821474 B.C. LTD., a private British Columbia company which is at arms length to the Company. The permit applications were part of a package of three permits and two permit applications acquired by the Company.

The two permit applications to be sold are KP416 and KP417 which, although in the vicinity of existing or planned potash operations, are not contiguous with the Legacy Project and are not considered amenable to solution mining the Company's preferred potash mining method.

The purchase price payable by the arms-length purchaser consists $3,097,880 in cash, of which $500,000 has been paid as a non-refundable deposit, and the balance will be paid upon issue of the permits. The Company understands that the purchaser intends to either use the permits as the basis for an initial public offering, or to sell the permits to a capital pool company or other public company. The purchaser has agreed to ensure that in connection with any such event the Company will have the right to acquire up to a 13 per cent interest in the public company on a post financing basis, nominate one member of the board of the public company, and to purchase up to 20% of the securities sold in certain future financings conducted by the public company.

Paul F. Matysek., President and Chief Executive Officer of Potash One Inc., said: "We are very pleased to have entered into this agreement as this provides the Company an immediate financial benefit and a right to retain a significant interest in the potential development of a conventional potash mine from these two strategically located permit applications."

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"), 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.

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 Website: www.potash1.com

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