Buffalo Potash completes final horizontal well at drilling program

Highlights

Completed third and final horizontal well, concluding the drilling program at the Disley Initial Production Module;

All five wells are now complete, comprising two vertical wells and three horizontal wells, and the full subsurface foundation for Buffalo's HLD mining method is in place as designed;

Each of the three horizontal wells made contact with approximately 95% of the target clay seam, with packer systems installed along all three wells as planned; and

Completions and equipping operations will commence shortly to connect all of the wells and prepare for well clean-up.

Saskatoon, Saskatchewan--(Newsfile Corp. - September 25, 2026) - Buffalo Potash Corporation (TSXV: BUFF) (OTCQB: BLPTF) (FSE: VU5) (the " Company " or " Buffalo ") is pleased to announce that it has completed the third and final horizontal well (the " 1D15-10 Well " or the " Injector Well ") at the Initial Production Module (" IPM "), located at the Company's flagship Disley property in Saskatchewan (the " Disley Project ").

With the Injector Well complete, all five wells at the IPM are now in place and the subsurface infrastructure required to operate Buffalo's patented Horizontal Line-Drive (" HLD ") mining method has now been successfully installed as designed:

Two vertical wells, the 15-10 source well (" Source Well ") and the 2-14 disposal well (" Disposal Well "); and

Three horizontal wells, which will form the IPM's solution mining plane.

Mr. Quinton Hardage, P.Eng., PMP, President and Chief Operating Officer of the Company, commented: "Today we are closing out the drilling program exactly as we planned it. We drilled five wells and landed three horizontal laterals in the clay seam. Each of those laterals achieved approximately 95% contact, and every packer system was set where we designed it. HLD is built on a sequence of steps, each grounded in established drilling and completion principles, and success comes down to executing each step well. That is what this team has done. The mechanical foundation of the IPM is now in the ground, and we will prepare to move into brine circulation with a great deal of confidence in what we've built."

Mr. Steve Halabura, P.Geo., Chief Executive Officer and Director of the Company, commented: "This is the milestone the entire drilling program was designed to deliver. From here, the work shifts from placing infrastructure to preparing to operate it downhole. At that stage, we rely on the same dissolution chemistry that has underpinned solution mining in Saskatchewan for decades. Concluding the drilling stage this cleanly puts Buffalo in an excellent position to approach the next phase of development, and to continue advancing toward our target of first production in Q1 2027."

Table 1: Drilling Program Summary

Phase 1 - Source and disposal wells - The two vertical wells provide the IPM's brine supply and disposal capacity. The Source Well will supply the NaCl brine injected into the mining plane and the Disposal Well provides brine disposal capacity for the IPM. Both the Source Well and Disposal Well were also cored and sent for assay analysis to enhance the Company's geological understanding and support a feasibility study at Disley West and Disley East (see the Company's news releases dated July 29, 2026 and August 18, 2026 ).

Phase 2 - Horizontal Line-Drive drilling - The three horizontal wells form the solution mining plane. Two producer wells run on either side of a central Injector Well, and all three are placed along the basal Belle Plaine clay seam (see Figure 1). The final well in the program, the 1D15-10 Injector Well, is a 565-m lateral that made contact with approximately 95% of the target clay seam. It is fitted with an 11-stage packer system that will serve as the injection points through which NaCl brine enters the mining plane.

Why Placement Matters: The Mechanical Foundation for Brine Circulation

The clay seam is the pathway . The basal Belle Plaine clay seam is the horizon along which Buffalo intends to establish hydraulic connection between the wells. Brine will travel across the clay seam to create the mining plane. For this reason, the degree of contact each lateral achieves with the seam directly influences how well the wells can later communicate with one another.

Consistent contact across all three wells . Achieving approximately 95% contact with the clay seam on each of the three horizontal wells means the injector and both producers are positioned along the same pathway, as designed.

Packers control the flow. The packer systems act as injection points along the Injection Well and as collection points along the Production Wells. Packers installed and sealed as planned are designed to allow the Company to distribute fluid evenly along the length of the mining plane, rather than letting it follow a single preferential path. Even fluid distribution allows for maximum efficiency of solution mining.

Together, these results mean the mechanical foundation of the IPM has been constructed and installed in line with the Company's design.

Figure 1: Disley Initial Production Module Design

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Next Steps: Phase 3 - Brine Circulation

With drilling complete, Buffalo's work moves from installing infrastructure to commissioning and operating it downhole. This will be followed by cleaning up the wells and packers and making sure the packers along the horizontal wells are communicating before moving into brine circulation. During brine circulation, the Company intends to proceed in three steps:

1) Inject NaCl brine from the Source Well through the Injector Well to establish pressure communication along the clay seam;

2) Clean out the clay seam along the seam; and

3) Create the mining plane by increasing the rate of brine flow from the injector to both producer wells, creating surface area for dissolution of KCl in the overlying sylvite rock.

The selective dissolution of KCl using NaCl brine as the solvent operates similarly to the dissolution by fresh water that underpins the primary mining stage in conventional solution potash mining in Saskatchewan, including at the operations adjacent to the Disley Project (1) .

Disley Project Development Plan

The IPM is designed to produce 125,000 tonnes per annum (" TPA ") of soluble-grade potash and is the first of three planned solution mining facilities at the Disley Project. The IPM has a lower initial CAPEX requirement compared to the full Disley Project build-out and is targeted to reach first production in Q1 2027. At full build-out comprising the IPM and two 500,000 TPA mines (" Disley East " and " Disley West "), the Disley Project would be expected to produce up to 1,125,000 TPA of potash, as contemplated in Buffalo's preliminary economic assessment titled "NI 43-101 Preliminary Economic Assessment Technical Report on the Disley Potash Project, Saskatchewan, Canada" dated May 21, 2026, and effective April 15, 2026 (the " PEA "), a copy of which is available on the Company's SEDAR+ profile at www.sedarplus.ca. On a standalone basis, the PEA estimates a payback period for the IPM of approximately 12 months from the start of production. (2) However, there is no guarantee that the Company will be able to achieve production.

The Company's production decision for the IPM is not based on a feasibility study with mineral reserves demonstrating economic and technical viability, and such production decisions are historically associated with a higher risk of economic and technical failure (see "Note 3 - Production Decision Cautionary Statement").

The IPM is intended to establish initial cash flow from production at a lower upfront capital cost, while building the operational and technical foundation for full-scale development. Development of the IPM is anticipated to be broken down into five phases:

Source and disposal wells (complete) ;

Horizontal Line-Drive (" HLD ") drilling (complete) ;

Brine circulation;

Site development; and

Surface processing.

Disley Project - General Overview

The Disley Project is located approximately 50 kilometers northwest of Regina and covers 10,610 hectares (Crown and Freehold mineral rights). The property is situated immediately to the east of the K+S Bethune potash solution mine and north of the Mosaic Belle Plaine potash solution mine - both of which are among the largest producing potash solution mines in the world. In the opinion of management, the Disley Project is in one of the most favorable areas of Saskatchewan for potash solution mining (see Figure 2) as evidenced by the success of these neighboring operations. (1)

On May 22, 2026, Buffalo released the results of its maiden NI 43-101 Mineral Resource Estimate and PEA for the Disley Project, prepared by Micon International Co Limited. The PEA outlined a phased, modular development plan contemplating full-scale production of up to 1,125,000 TPA of potash across three solution mining facilities, with an estimated after-tax net present value (NPV) of US$1.1B at a discount rate of 8% and estimated internal rate of return (IRR) of 30%. (2) Readers are encouraged to refer to Buffalo's April 27, 2026 and May 22, 2026 news releases and the NI 43-101 technical report filed on SEDAR+ for complete details of the PEA and Mineral Resource Estimate.

Figure 2: The Disley Property Situated Amongst Major Potash Solution Mines (1)

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About Buffalo Potash

Buffalo Potash is an emerging Saskatchewan-based potash developer pursuing a modular approach to selective solution mining through its patented Horizontal Line-Drive (HLD) technology. Buffalo is advancing the Disley Project - located adjacent to two of the most prominent currently producing potash solution mines in the world - with the objective of establishing capital-efficient, lower-impact potash production in one of the world's leading potash jurisdictions.

Qualified Person

The technical information in this news release has been reviewed and approved by Douglas F. Hambley, PhD, PE, P.Eng., PG, an independent consultant to the Company, who is a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects . This news release does not contain an updated mineral resource estimate, a new mineral reserve estimate, or economic analysis beyond information previously disclosed in the NI 43-101 technical report for the Disley Project filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Readers are referred to that technical report, prepared by Micon International Co Limited, for complete details of the Mineral Resource Estimate and Preliminary Economic Assessment, including all data verification, methodology, assumptions, and qualifications.

All related and pertinent information has also been reviewed for this news release by Jared Galenzoski, P.Geo., FIMMM as an independent consultant to the Company who is a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects . Mr. Galenzoski is an expert in several potash-related fields including the drilling of potash horizontal wells and solution mining operations.

Contact

Steve Halabura P.Geo. | Chief Executive Officer & Director Email: steve@buffalopotash.ca | Phone: 1-306-220-7715

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notes

(1) The K+S Bethune potash solution mine and the Mosaic Belle Plaine potash solution mine (together, the " Adjacent Properties ") may each be considered an "adjacent property" (within the meaning of NI 43-101) to the Company's Disley Project. The Company has no interest in either of the Adjacent Properties. The Company believes this context is useful in illustrating the proven endowment of the district, while noting that mineralization on adjacent or nearby properties is not indicative of mineralization on the Company's Disley Project. There is no guarantee that the Disley Project will yield comparable results to either of these mines.

(2) The PEA was prepared by Micon International Co Limited in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is preliminary in nature. The PEA is preliminary in nature and includes inferred mineral resources, which are considered too speculative geologically to have the modifying factors and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the results of the PEA will be realized. Readers are encouraged to read the technical report filed under the Company's profile on SEDAR+ at www.sedarplus.ca in its entirety, including all qualifications, assumptions, and exclusions that relate to the PEA.

(3) Production Decision Cautionary Statement : The Company's decision to proceed with development of the IPM is not based on a feasibility study of mineral reserves demonstrating economic and technical viability. No mineral reserves have been established at the Disley Project, and the PEA is preliminary in nature (see Note 2). Historically, mineral projects advanced to production without first establishing mineral reserves supported by a feasibility study have a higher risk of economic and technical failure. Specific risks associated with the Company's production decision include, but are not limited to: 1) grade, continuity, or thickness of mineralization that differs from the Mineral Resource Estimate; 2) performance of the Company's Horizontal Line-Drive mining method, which has not been operated at commercial scale, that is not as anticipated; 3) recoveries, production rates, or capital and operating costs that differ materially from the PEA; and 4) production during the IPM that does not become sustainable or profitable, which would materially and adversely affect the Company's ability to generate revenue and cash flow.

Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. Forward-looking information is generally identifiable by the use of words such as "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects," or similar expressions, and the negative of such expressions.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the timing, sequencing, and completion of the IPM development plan, the development of the mining plane, site development, and the installation and commissioning of processing equipment; the anticipated commencement of completion and equipping operations to connect the wells and prepare for well clean up; the Company's intention to inject NaCl brine from the Injector Well to clean out the clay along the target clay seam and connect brine flow to the producer wells, thereby creating surface area for the dissolution of KCl in the adjacent rock; the intended function of the installed packers to serve as collection points that produce KCl-rich brine to surface after it crosses the mining plane; the establishment of a solution mining plane at the IPM using Buffalo's patented Horizontal Line-Drive mining method; the IPM's designed production capacity of 125,000 TPA of soluble-grade potash and the anticipated payback period for the IPM; the anticipated timing of first production from the IPM; the anticipated timing and phasing of construction and commercial production for the IPM, Disley East, and Disley West; the results, assumptions, and projections contained in or derived from the Mineral Resource Estimate and PEA for the Disley Project, including projected production rates and timing of production; expectations regarding the Disley Project's potential for solution mining; the Company's broader development plans and strategy for the Disley Project; and the fact that the Company's production decision for the IPM is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and the associated increased risk of economic and technical failure.

Forward-looking information is based on management's reasonable assumptions, estimates, analysis, and opinions made in light of its experience, perception of historical trends, current conditions, and expected future developments, as well as other factors that management believes are relevant and reasonable in the circumstances as of the date such statements are made. These assumptions include, but are not limited to, assumptions regarding geological continuity, potash grade and thickness, the applicability of historical data, the performance of solution mining methods, costs of production, the availability of services and equipment, the receipt of required permits and approvals, and the availability of financing on acceptable terms; the assumed comparability of the HLD dissolution chemistry to conventional solution mining methods; assumptions regarding production ramp-up rates and timing for the IPM; potash price assumptions underlying the estimated payback period and the readiness of installed infrastructure for brine circulation.

Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the inherent uncertainty of PEA-level studies and the possibility that actual capital costs, operating costs, and production rates differ materially from estimates; risks related to exploration and development activities; risks related to the timing and completion of lease construction, rig mobilization, and drilling operations, including the availability and performance of drilling contractors, equipment, and services; uncertainty in geological interpretation; risks related to the development, commissioning, and operation of novel mining technology, including that the Company's HLD mining method has not been operated at commercial scale and that successful completion of the drilling phase does not guarantee successful performance during brine circulation or commercial production; risks inherent to solution mining operations and new or emerging technologies; regulatory approvals and permitting timelines; commodity price volatility; availability of capital; and general economic, market, and business conditions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events may differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this news release, and the Company disclaims any obligation to update or revise such information, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316020

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September 25, 2026 - 4:00 AM PDT

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