Highlights

• Successful assembly of diverse technical team for Initial Production Module development;
• Site preparation at the Initial Production Module drilling site is complete;
• All well licenses received for full drill program at Initial Production Module drilling site; and
• Rig mobilization at Initial Production Module drilling site commencing imminently.

Saskatoon, Saskatchewan--(Newsfile Corp. - July 14, 2026) - Buffalo Potash Corporation (TSXV: BUFF) (OTCQB: BLPTF) (FSE: VU5) (the "Company" or "Buffalo") is pleased to announce the initiation of the next phase of work at the Initial Production Module ("IPM") at the Company's flagship Disley property in Saskatchewan (the "Disley Project"), located adjacent to two of Canada's currently producing potash solution mines (see Figure 2), the K+S Bethune Solution Potash Mine and the Mosaic Belle Plaine Solution Potash Mine.⁽¹⁾

Initial work includes the drilling of two vertical wells to further confirm the Company's geological understanding at the IPM site. These wells are expected to be later converted into a source well, for brine collection, and a disposal well, for brine disposal, as part of the IPM design (the "Source Well" and "Disposal Well", respectively).

Mr. Quinton Hardage, P.Eng., PMP, President and Chief Operating Officer of the Company, commented: "Buffalo has assembled a team of technical professionals with firsthand experience in potash solution mining, directional drilling, geomechanics, and dissolution chemistry within Saskatchewan's geology, and we have full confidence in their ability to execute. With well licenses in hand, contracts signed, and rig mobilization set to begin, we are thrilled to move forward with our plans to become Canada's next potash producer."

Mr. Quinton Hardage continued: "In our view, the initiation of the Initial Production Module brings us one step closer to demonstrating Buffalo's patented Horizontal Line-Drive methodology at scale. Each stage of the IPM development program is designed to systematically reduce technical risk while advancing Buffalo toward initial commercial production and the concurrent feasibility study for the broader Disley Project. This is about more than sustainability – it's about proving that potash can be produced with greater capital efficiency and true scalability, potentially changing the way the industry recovers this critical mineral moving forward."

Figure 1: Site Preparation at the Initial Production Module Drilling Site in Saskatchewan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12107/305097_4d004802b4f3d9dd_001full.jpg

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 recently released 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 attributes a payback period of approximately 12 months from the start of IPM 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 of 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 designed for the Company to establish initial cash-flowing production at 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:

1. Source and disposal wells;
2. Horizontal Line-Drive ("HLD") drilling;
3. Brine circulation;
4. Site development; and
5. Surface processing.

Disley Project Updates

Technical Team Assembled – Buffalo has fully assembled the technical team that is expected to advance construction of the IPM. The team has been purpose-built for the task, bringing together a diverse range of disciplines with Saskatchewan-specific expertise in dissolution chemistry, potash geology, directional drilling, geomechanics, and solution mining operations – including individuals with firsthand experience developing and operating potash solution mining wells within the same geological setting as the Disley Project.

Site Preparation – Site preparation at the IPM drilling site location is complete (see Figure 1), including stripping and stockpiling of topsoil and subsoil to prepare a stable, level surface for safe and effective rig mobilization and drilling operations.

Well Licenses Received – Buffalo has received all well licenses for wells required for IPM construction, including for the Source Well and Disposal Well, which represent the first steps of IPM construction before the drilling of horizontal wells. As outlined in the Company's July 6, 2026 news release, the Source Well is anticipated to produce brackish water from the Mannville Formation, which will then be saturated with NaCl to form the solvent used in Buffalo's solution mining method, while the Disposal Well will be used to dispose of excess brine into the Deadwood Formation after processing at surface. In addition to their ongoing operational roles at the IPM, both wells will be cored and logged through the potash-bearing members of the Prairie Evaporite Formation, providing data that will inform the concurrent feasibility study and provide further clarity on the full build-out of the Disley Project.

Rig Mobilization – Contracts for the work program have been executed with the Company's drilling contractors, and mobilization of the drilling rig to the Source Well location is expected to commence imminently, with drilling anticipated to begin shortly after rig-up is complete. The Source Well is the first of two vertical wells to be drilled at the IPM and is anticipated to be followed by the Disposal Well. Each well is expected to be drilled and, upon reaching target depth, cored and logged through the potash-bearing members.

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⁾

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12107/305097_4d004802b4f3d9dd_002full.jpg

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 new technical disclosure 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.

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 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, without limitation: that the grade, continuity, or thickness of mineralization differs from the Mineral Resource Estimate; that the Company's Horizontal Line-Drive mining method, which has not been operated at commercial scale, does not perform as anticipated; that recoveries, production rates, or capital and operating costs differ materially from the PEA; and that the IPM does not achieve sustained or profitable production, 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, including the drilling of the source, disposal, and horizontal wells, the development of the mining plane, site development, and the installation and commissioning of processing equipment; the anticipated role of the Source Well and Disposal Well in IPM construction and operations; the anticipated coring and logging of the Source Well and Disposal Well and the expected use and benefits of the data obtained therefrom; the anticipated timing and completion of lease construction, rig mobilization, and the commencement of drilling operations; 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 preparation, timing, and expected benefits of a concurrent feasibility study for the full build-out of the Disley Project; 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.

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; 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/305097