Buffalo Potash begins drilling at Disley

Executive Summary

• Buffalo Potash Corp. has commenced drilling the first confirmation hole (7-10-20-23 W2) at its flagship Disley project in Saskatchewan, marking the start of its initial phase of work to confirm potash potential.
• The company is advancing a systematic development strategy using a patented horizontal-line-drive solution mining approach, aiming to validate geology and position the project for future development.
• The Disley project is located in the Elk Point basin, adjacent to major global potash producers (K+S Bethune and Mosaic Belle Plaine), leveraging existing infrastructure and geological knowledge.

Key Details

• Drilling Activity: Initiated drilling of the first confirmation hole, identified as 7-10-20-23 W2.
• Project Location: Disley project is approximately 50 km northwest of Regina, Saskatchewan, covering ~9,413 hectares.
• Strategic Context: The project is situated immediately east of the K+S Bethune solution potash mine and northeast of the Mosaic Belle Plaine solution potash mine.
• Development Phase: Commencement of the "confirmation phase," which includes:
  • Drilling of confirmation well No. 1 and No. 2.
  • Testing and analysis of core samples, including historical pilot data.
  • Completion of additional 3-D seismic interpretation.
  • Evaluation of resource potential and preparation of a National Instrument 43-101 technical report.
  • Commissioning and completion of a preliminary economic assessment (PEA).
• Historical Data: A historical pilot project in the 1960s by Lumsden Potash Development Company demonstrated communication across the potash zone and the ability to extract potash using a two-well cavern system.
• Geological Setting: Located in Saskatchewan's Elk Point basin, the world's largest source of potash, which spans 1.2 million square kilometres and may contain 40-50% of the world's total potash resource.
• Qualified Person: Technical information reviewed by Douglas F. Hambley, PhD, PE, PEng, PG.

Notable Quotes

• Steve Halabura, CEO: "This is how we convert the big vision into tangible shareholder value -- executing a development strategy that implements an updated solution mining approach using proven oil and gas technology. Drilling represents the next step in validating the geology underpinning our strategy as part of a systematic approach to advancing the Disley project."
• Steve Halabura, CEO: "Geologically, the Disley project is in Saskatchewan's Elk Point basin, which is the foundation of global potash supply... We know the geology of this area very well, and we believe the Disley project is prospective to host Saskatchewan's next potash solution mine."