News Release

Potash One Announces Closing of Equity Financing

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 7, 2008) – Potash One Inc. (the “Company” or “Potash One”) (TSX VENTURE:KCL) is pleased to announce that it has completed a non-brokered equity private placement of 4.15 million units at a price of $2.65 per unit for net proceeds of $10,997,500 (the “Placement”), as previously reported in its news release on December 19, 2007. A total of 206,250 units, representing 5% of certain subscriptions were issued to certain finders for introducing the subscribers to the Company.

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 overwhelming level of interest that was expressed in the Placement. We can now accelerate our development plans as we move into 2008.”

The Company appreciates the strong commitment provided by Front Street Capital & Ceres Global Ag Corp. (TSX:CRP.UN) and welcomes them as shareholders.

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.

The Company controls over 97,000 acres of previously explored potash-bearing property which is directly adjacent to a large producing potash mine to the south of the Company’s property.

Potash One’s Legacy project in Saskatchewan was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation.

Potash One Inc. is a Canadian potash company engaged in the identification, acquisition, exploration and development of advanced resource properties. The Company has a solid balance sheet and experienced technical and corporate management to advance its current project to the next level. The primary interests of the Company include an option to acquire 100% interest in a 97,240 acre Potash Subsurface Exploration permit in Saskatchewan, Canada.

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 for further information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact

Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
(604) 331-4431
(604) 608-4979 (FAX)