Buffalo Potash Announces Assay Results from Summer Drilling Program and Confirms High-Grade Potash Mineralization at Disley

Buffalo Potash Corporation (BUFF) has released assay results for cores from two vertical wells drilled earlier in 2026 to support its In-Situ Potash Method (IPM) infrastructure: the 15-10 Source Well on the IPM pad and the 2-14 Disposal Well located approximately 1,600 meters east of the IPM. Both wells were cored with roughly 100% recovery over approximately 108 meters each, and samples were submitted to SRC Geoanalytical Laboratories for potash ICP analysis. The company noted that because the beds are flat-lying, the sample thicknesses equal the Member or bed true thicknesses.

Assay data for the 15-10 Source Well identified 20.5 meters of net sylvinite grading 39.4% KCl, composed of the following intervals: - Upper Patience Lake (UPL): 6.0 m @ 36.4% KCl - Lower Patience Lake (LPL): 3.0 m @ 52.2% KCl - Belle Plaine (BP): 5.5 m @ 36.9% KCl - Esterhazy (EST): 6.0 m @ 32.0% KCl

The 2-14 Disposal Well returned 16.2 meters of net sylvinite grading 32.6% KCl, consisting of: - UPL: 4.0 m @ 33.4% KCl - LPL: 5.2 m @ 32.5% KCl - BP: 5.0 m @ 37.8% KCl - EST: 2.0 m @ 26.8% KCl

Buffalo Potash stated that these results were not included in the NI 43-101 Mineral Resource Estimate underpinning the current Preliminary Economic Assessment (PEA). The company intends to commission an updated Mineral Resource Estimate and an updated PEA, citing the proposed federal "Productivity Mega Deduction" announced on September 15, 2026, as a potential future tax benefit, although the measure has not been enacted.

Regarding IPM status, all five wells have been drilled, with completions and equipping underway ahead of Phase 3 brine circulation. First production is targeted for the first quarter of 2027. The IPM has been determined to be "not a development" under The Environmental Assessment Act, meaning no Environmental Impact Assessment (EIA) is required.

Buffalo Potash Corporation (BUFF) stated that the new assay results are excluded from the current Mineral Resource Estimate (MRE) and will instead feed a future MRE, Preliminary Economic Assessment (PEA), or feasibility study. The release noted there is no change to tonnage, net present value (NPV), reserves, or mine life.

The new wells align with the 7-10 hole, which drilled approximately 22 meters at roughly 33% KCl, serving as a confirmation rather than an extension of the existing resource. The company’s primary anchor remains the April 2026 MRE/PEA.

Buffalo Potash’s stock has re-rated substantially over the past year, rising from $0.30 in January to between $0.85 and $1.00 in September and October. This movement was driven by the PEA, a $14.85 million financing, drilling and completion milestones, and the permitting determination, rather than by individual drill results.

At a market capitalization of approximately C$93 million, Buffalo Potash is a pre-revenue, pre-reserve developer priced on execution, with first production targeted for Q1 2027. Consequently, assay confirmation carries limited incremental information for the share price.

Buffalo Potash Corporation (TSXV: BUFF, OTCQB: BLPTF, FSE: VU5) is a Saskatchewan-focused potash developer pursuing a modular, phased approach using its patented Horizontal Line-Drive (HLD) selective solution mining technique. Its flagship asset is the Disley Project, located approximately 50 km northwest of Regina, encompassing 10,610 hectares of Crown and Freehold mineral rights immediately east of the K+S Bethune solution mine and north of the Mosaic Belle Plaine solution mine. The company also holds two additional permitted properties: Odessa (6,064 hectares) and Edenwold (5,835 hectares).

A maiden NI 43-101 Mineral Resource Estimate by Micon International identified Measured and Indicated resources of 1,671.5 million tonnes at approximately 34.8% KCl (582 million tonnes of KCl), plus 2,663.2 million tonnes inferred at approximately 34.96% KCl. No mineral reserves have been defined.

An Preliminary Economic Assessment effective April 15, 2026, projected an after-tax NPV(8%) of US$1.1 billion and an internal rate of return of 30%. The plan outlines an initial capital expenditure of US$639 million, including US$128 million in contingency, with operating expenses of US$55 per tonne. The modular build targets 1,125,000 tonnes per annum across the IPM, Disley East, and Disley West, with the IPM standalone payback estimated at approximately 12 months.

As reported in prior-period context, the company held C$1.88 million in cash and total equity of C$1.69 million at Q1-2026, with 81.2 million shares outstanding. In June 2026, the company raised C$14.85 million gross through the issuance of 28.0 million securities at prices between C$0.45 and C$0.558, accompanied by half-warrants at C$0.60. Presentations indicate a capital structure of 109.7 million basic shares, 25.3 million warrants, 8.9 million options, and 3.2 million RSUs, totaling approximately 147.3 million fully diluted shares, with nil debt.

Management includes CEO Steve Halabura (P.Geo.), who has a long Saskatchewan exploration record; President and COO Quinton Hardage (P.Eng., PMP); and Chair Peter Jackson, a former Mosaic VP for North American potash operations.