Potash One announced yesterday that it has completed its acquisition of 100% of three potash exploration permits in Saskatchewan (KP 355, KP 356 and KP 357) and two permit applications (416 and 417) currently under review, from Giant Potash Corporation, a private Alberta corporation, as previously announced in the Company's March 26, 2008 news release. All of the permits and applications border or are in the vicinity of existing or planned potash operations. Please visit our website to view the new Potash permits and permit applications.

The purchase price consisted of 1,408,000 common shares of the Company (with a 4 month hold expiring August 4, 2008) and $2,897,880 in cash.

Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., said: "We are very pleased to have quickly completed this key acquisition, as it provides us with a strategic and dominant position in Canada's largest solution potash producing mining region."

The Company paid a finder's fee of $55,000 in cash and warrants exercisable to purchase up to 200,000 common shares at a price of $4.00 per share for a period of two years, to 0819806 BC Ltd. The securities issued to the finder are subject to a hold period expiring August 8, 2008.

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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 Company also has two potash permit applications under review in southeastern Saskatchewan. 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.