Buffalo Potash Mobilizes Drill Rig for Initial Production Module Development

Buffalo Potash Corporation announced the mobilization of a drill rig to the Initial Production Module (IPM) site at its Disley Project in Saskatchewan. The company has completed site preparation and secured all necessary well licenses for the first phase of its patented Horizontal Line-Drive (HLD) solution mining development.

The initial program involves drilling two vertical wells: a Source Well to extract brackish water from the Mannville Formation and a Disposal Well to inject excess brine into the Deadwood Formation. The IPM is designed to produce 125,000 tonnes per annum (TPA) of soluble-grade potash, with first production targeted for Q1 2027.

The project's Preliminary Economic Assessment (PEA) outlines a full build-out potential of 1,125,000 TPA, with an after-tax NPV of US$1.1 billion and an IRR of 30%. The IPM payback period is estimated at approximately 12 months from the start of production.

Buffalo Potash Corporation (BUFF) has mobilized its drill rig, marking a routine operational milestone following the completion of its C$14.85 million private placement in June 2026 and the release of the Preliminary Economic Assessment (PEA) in April 2026. This development confirms the execution of the company’s previously announced roadmap without introducing new financial metrics, unexpected technical breakthroughs, or changes to the production timeline.

While the technical team assembly and regulatory approvals were highlighted as completed in prior updates, this mobilization represents a standard execution step rather than a market-moving event. The PEA metrics remain unchanged, and the company continues to operate without a feasibility study, maintaining the inherent technical and economic risks associated with unproven solution mining at commercial scale.

Buffalo Potash Corporation is a pre-revenue exploration and development company focused on the Disley Project in Saskatchewan, Canada. The project is located approximately 50 km northwest of Regina, adjacent to major producing solution mines operated by K+S (Bethune) and Mosaic (Belle Plaine).

The company utilizes a patented Horizontal Line-Drive (HLD) selective solution mining method, which aims to reduce freshwater usage, well counts, and processing complexity compared to conventional vertical cavern mining. The development strategy is modular, starting with a 125,000 TPA Initial Production Module (IPM), followed by two 500,000 TPA mines (Disley East and Disley West), targeting a total capacity of 1,125,000 TPA.

The company is currently in the confirmation and early development phase, with first production of soluble-grade potash targeted for Q1 2027 and granular MOP for 2029.