PhosCan Announces Appointment of Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - March 7, 2008) - PhosCan Chemical Corp. (TSX VENTURE:FOS) is pleased to announce the appointment of James Pringle as Vice-President, Finance and Chief Financial Officer of the company.

James brings an extensive mining finance background, gained both as a financial executive and investment banker, to PhosCan. From February 2004 to December 2005 James was Chief Financial Officer of Frontera Copper Corporation. During that time and subsequently as a consultant to the company, James led Frontera Copper's successful effort to finance the company's Piedras Verdes Project in Mexico. Between September 1997 and January 2003 James worked for the investment banking divisions of two Canadian banks where he worked exclusively with mining and metals companies on a variety of financings and advisory assignments. James holds a B.Sc., Metallurgical Engineering from Queen's University and an MBA from the University of Western Ontario, and is a CFA charterholder.

"We are pleased to welcome James to the PhosCan team", commented PhosCan's President and CEO, Stephen Case. "We expect to complete the pre-feasibility study for the Martison Project this year and as we look forward to the bankable feasibility study and financing the development of Martison, James' experience will be invaluable."

About PhosCan

PhosCan, through a joint venture, is engaged in the advancement of the Martison Phosphate Project located near Hearst, Ontario. The Martison Project entails the development of a phosphoric acid plant, utilizing the Martison phosphate deposit and sulphuric acid from Ontario base-metal smelters. Phosphate concentrate and sulphuric acid are the two primary inputs in the production of phosphoric acid. The Martison Project is strategically located in proximity to target markets with access to excellent infrastructure including rail, power, labour and an abundant supply of sulphuric acid. The phosphoric acid produced will be used as feedstock for the production of higher valued products in the fertilizer and industrial markets that provide both an economic and logistical advantage.

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