Potash One Appoints Mike Ferguson Legacy Project Director
VANCOUVER, BRITISH COLUMBIA–( EMWPresswire – March 31, 2008) – Potash One Inc. (the “Company” or “Potash One”) (TSX VENTURE:KCL) is pleased to announce that the Company has appointed Mike Ferguson as Project Director for its Legacy Potash project in southeastern Saskatchewan.
Mike Ferguson is a professional engineer and senior project manager with significant experience in the Saskatchewan Uranium and Potash industries. Mr. Ferguson’s potash experience started in 1984 working in an underground potash mining operation, continuing through maintenance engineering work in a potash mill and on to engineering design and project delivery. He has worked for all the major potash producers in Saskatchewan including Mosaic, Potash Corporation of Saskatchewan and Agrium. Mr. Ferguson also led projects overseas in the Middle East and south-east Asia.
Most recently Mr. Ferguson served as a General Manager for Wardrop Engineering, and Operations Manager with AMEC prior to that. He earned his B.Sc. in Mechanical Engineering from the University of Saskatchewan and Graduate Certificate in Project Management from Pennsylvania State University.
Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., said: “I am very excited to welcome Mike Ferguson to our team. He has over 20 years of direct project management experience in potash industry and brings wealth of knowledge to Potash One. Mike’s direct experience in building engineering and project teams and successfully delivering projects ranging from small in-plant upgrades to major green-field works, at both the study and implementation phases, will bring the necessary focus and organization to Potash One in order to successfully develop the Legacy project.”
The Company has also granted an additional 500,000 stock options pursuant to its previously approved stock option plan to directors, officers and consultants. These options were granted at an exercise price of $3.85 per share for a period of three years.
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 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.
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.
For more information, please contact
Potash One Inc.
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