Potash One Initiates a Full Feasibility Study for Its Legacy Project in Southern Saskatchewan

VANCOUVER, BRITISH COLUMBIA, Oct 05 (MARKET WIRE) --
Potash One Inc. (the "Company" or "Potash One") (TSX: KCL) is pleased to
announce that it has commenced work on a feasibility study (the "Study"
or the "Feasibility Study") for its Legacy potash solution-mining project
in Southern Saskatchewan, Canada.

Potash One Inc. has re-engaged SNC-Lavalin Inc. of Montreal, QC to
complete the study in cooperation with Potash One and other specialized
consultants, which include Whiting Equipment Canada, Inc. a leading
provider of evaporator and crystallizer technology to the potash industry.

Subsequent to the very positive results of Legacy's completed
Pre-Feasibility Study as announced in June 2009 (NR 09-14), the Company's
engineering staff and consultants focused on reviewing project parameters
and completing a number of key trade-off and optimization studies in
preparation for the Feasibility Study. Feasibility engineering and
procurement work started in August 2009 and, as of the current date, the
project team is now mobilized and working through the planned report.

With an expected completion date of mid 2010, the Feasibility Study will
provide a comprehensive overview of all aspects of the project including
the following: land and mineral rights, processing, transportation and
logistics, port space options, a detailed market analysis and, of course,
refined capital and operating cost estimates along with financial
performance metrics.

Paul F. Matysek, President and CEO of Potash One Inc., commented: "A
bankable Feasibility Study is the next progressive step in the project
development of Legacy. The initiation of our Feasibility Study is a
continuation of the Company's long term strategic plans for the Legacy
project to become the first new greenfield Potash mine in Saskatchewan in
over 40 years. Our Management team has a proven track record for timely
delivery and rigorous execution of our Project development plans and the
completion of this final phase will position us head and shoulders above
any other planned greenfield project in Canada in terms of a thorough
independent evaluation and clear development path."

ON BEHALF OF THE BOARD OF DIRECTORS,

Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer

About Potash One Inc.:

Potash One Inc. is a well-funded TSX-listed Canadian resource Company
engaged in the exploration and development of advanced potash properties
amenable to solution mining. The Company owns a 100% interest in the
97,240 acre Legacy Project which has an NI 43-101 compliant Measured
Resource of 29 million tonnes of recoverable KCl, Indicated Mineral
Resource of 222 million tonnes of KCl and an Inferred Mineral Resource of
852 million tonnes of KCl. The Company has recently completed a
pre-feasibility study with SNC-Lavalin with robust economics at current
potash pricing. The Legacy Project is adjacent to the largest producing
solution potash mine in the world. The Company also owns more than
515,000 acres of Potash Subsurface Exploration Permits in Saskatchewan,
Canada.

Forward-Looking Statements: Statements in this release that are
forward-looking statements are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's periodic filings with Canadian
Securities Regulators. Such information contained herein represents
management's best judgment as of the date hereof based on information
currently available. Statements in this press release other than purely
historical information, including statements relating to the Company's
future plans and objectives or expected results, constitute
forward-looking statements. Forward looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in the Company's business, including risks
inherent in mineral exploration and development. The Company does not
assume the obligation to update any forward-looking statement. There are
numerous risks and other factors that will influence a development
decision, including concluding resource evaluations on mineral
properties, extraction and processing design limitations, financing
requirements, permitting risks and economic factors, all of which may be
beyond the control of the Company.

The Toronto Stock Exchange has
neither approved nor disapproved the contents of this press release.

Contacts:
Potash One Inc.
Paul F. Matysek
President and Chief Executive Officer
(604) 331-4431
(604) 408-4799 (FAX)
info@potash1.com
www.potashone.com

Copyright 2009, Market Wire, All rights reserved.

-0-