Buffalo Potash Receives Well Licenses for Initial Drilling at Flagship Disley Project

Executive Summary

• Buffalo Potash received two potash test‑well licenses from the Saskatchewan Ministry of Energy and Resources, enabling the start of its Confirmation Phase drilling at the Disley Project.
• The Confirmation Phase will include drilling two confirmation wells, core testing, seismic interpretation, resource evaluation, a NI 43‑101 technical report, and a preliminary economic assessment (PEA).
• Management highlights the project's proximity to major solution‑mining operations and leverages historic pilot data to support the prospectivity of a modular selective solution‑mining approach.

Key Details

• Licenses Received: Two potash test well licenses for the Disley Project, marking the first step in the Confirmation Phase.
• Confirmation Phase Objectives:
• Drill Confirmation Well #1 and Confirmation Well #2.
• Test and analyze historical core samples, including those from a 1960s pilot project.
• Complete additional seismic interpretation of the 9,413‑ha property.
• Evaluate resource potential and prepare a NI 43‑101 technical report.
• Commission and complete a Preliminary Economic Assessment (PEA).
• Project Location: Southern Saskatchewan, ~50 km NW of Regina; adjacent to K+S Bethune and Mosaic Belle Plaine solution‑mining mines.
• Historical Pilot Reference: 1960s Lumsden Potash Development Company pilot demonstrated brine injection/recovery across the potash zone, confirming feasibility of a two‑well cavern system.
• Technical Approach: Planned use of Buffalo’s patented Horizontal Line‑Drive (HLD) mining system for selective solution mining, subject to Confirmation Phase results.
• Qualified Person: Douglas F. Hambley, PhD, PE, PEng, PG, reviewed and approved the scientific/technical information per NI 43‑101 standards.

Notable Quotes

“The receipt of these well licenses allows us to commence Confirmation Phase drilling at Disley and begin validating the geological and solution mining framework of the property.” – Steve Halabura, CEO & Director

“We are pleased to be advancing the Disley Project… our technical team brings a deep understanding of the potash geology we are now seeking to confirm at Disley as we advance the project through the next stage of technical evaluation.” – Steve Halabura, CEO & Director