Sage Potash Successfully Completes Peterson 1 Drill Program and Commences Core Analysis

Sage Potash Corp. (SAGE) has completed drilling of the Peterson 1 well at its Sage Plain Potash Project in Utah, reaching a total depth of 2,248 metres. The hole intersected the targeted Cycle 18 Upper and Lower potash-bearing beds, with continuous core recovered from both intervals.

Core is currently being prepared for shipment to the Saskatchewan Research Council (SRC) for geological logging and assays. A suite of downhole geophysical surveys, including gamma ray, is also being completed. No assay grades, thicknesses, or quantitative mineralized intervals were reported; the release confirms only that the targeted beds were intersected and core was recovered. Management expressed anticipation of assay results to expand or upgrade the resource and confirm the asset’s quality.

Sage Potash Corp. (SAGE) issued a completion notice for a widely anticipated drill hole, marking the end of a program that began in early July 2026 with an expected duration of approximately 20 days. The release contains no quantitative results or assay data.

The company remains a pre-resource upgrade, pre-production junior explorer. This procedural update does not constitute a material event or a resource-changing milestone.

SAGE shares have declined steadily from $0.48 in September 2025 to $0.12 on the date of this release. This downward trend reflects ongoing dilution, going-concern risk, and a lack of near-term catalysts. The current announcement provides no new fundamental data to alter that trajectory.

Sage Potash Corp. is a junior exploration company focused on the Sage Plain Potash Project in the Paradox Basin, Utah, USA, targeting solution-mined potash. The company holds an NI 43-101 Inferred resource as of November 2025, comprising 298 million tonnes of sylvinite grading 42.1% KCl, containing 118 million tonnes of contained KCl. This resource is split into Upper beds grading 46.1% KCl and Lower beds grading 35.8% KCl.

A Preliminary Economic Assessment (PEA) completed in September 2025 outlined a project with an after-tax NPV of US$502 million and a 39% internal rate of return. The plan calls for an initial capital expenditure of US$155 million to support 300,000 tonnes per year of potash production via solution mining, based on a US$450 per tonne potash price assumption. Additionally, the USDA awarded a US$14 million grant to support construction efforts.

Regarding infrastructure, Sage Potash acquired a refurbished processing plant from IPP for €11 million, with deferred payment terms and potential share conversion at $0.25. As of March 31, 2026, the company reported cash of $8.74 million, a net loss of $8.14 million, and negative operating cash flow of $7.73 million. Total equity stood at $11.75 million, with a book value per share of $0.07. The company flagged a going-concern warning, with 171.2 million shares outstanding. Recent financings included a $13 million unit placement at $0.20 with $0.30 warrants.