Sage Potash Announces Commencement of Drilling Program at Sage Plain Potash Project

Sage Potash announced that a new drilling program at its flagship Sage Plain Project in Utah has begun. The program targets the Cycle 18 Upper and Lower potash horizons (~2,100 m depth) to obtain continuous core for geochemical analysis, hydrogeological testing, and engineering data. Westrock Energy Services will manage all drilling operations while RESPEC provides on‑site geological services. Drilling is slated to start in mid‑Q2 2026 with assay results and an updated NI 43‑101 technical report expected in Q3 2026, after which a feasibility study is anticipated to be launched later in 2026.

• Expectation vs. reality: The drilling program was outlined in the November 2025 PEA and subsequent financing announcements. Commencing field work as scheduled confirms management’s ability to meet its development timeline; therefore the news is largely expected.
• Catalyst value: While not a surprise, the start of drilling is a tangible catalyst that will generate new data needed to upgrade the inferred resource and underpin a future feasibility study. This reduces execution risk and supports the company’s cash‑flow‑positive outlook in the medium term.
• Market reaction potential: Because investors already priced in the upcoming drill program, the impact on price should be modest—primarily reinforcing confidence rather than creating a sharp move. Hence the classification as Routine – Positive.

Sage Potash Corp. focuses on developing the Sage Plain Potash Project in Utah’s Paradox Basin. The project targets ~300,000 t/yr of solution‑mined potash with an inferred resource of 298 Mt sylvinite (≈118 Mt KCl). A PEA released September 2025 showed a post‑tax NPV of US$502 M and IRR of 39%, supporting the case for a low‑cost domestic potash supplier.