Mr. Steve Halabura reports

BUFFALO POTASH COMMENCES DRILLING AT INITIAL PRODUCTION MODULE

Drilling operations have commenced at Buffalo Potash Corp.'s initial production module, located at the company's flagship Disley property in Saskatchewan, adjacent to two of Canada's currently producing potash solution mines, the K+S Bethune solution potash mine and the Mosaic Belle Plaine solution potash mine.

Further to the company's July 14, 2026, news release, the drilling rig was mobilized to the IPM site safely and on schedule, with the first of two vertical wells at the IPM (the 15-10 well) spudded on July 16, 2026. The 15-10 well is drilling ahead, and, upon reaching target depth, will be cored and logged through the potash-bearing members of the Prairie evaporite formation. Core and log data from the vertical drilling program will further refine the company's geological understanding of the IPM site and support a feasibility study for Disley West and Disley East.

Site construction is also complete at the location of the second vertical well (the 2-14 well), including stripping and stockpiling of topsoil and subsoil to provide a stable, level surface for drilling operations. Following the drilling, coring and logging of the 15-10 well, the rig is expected to move directly to the 2-14 location to drill the second well, which will be cored and logged in the same manner. Upon completion of vertical drilling operations, the 15-10 well and 2-14 well are expected to be converted to their operational roles for the IPM as the respective brine source and disposal wells.

Quinton Hardage, PEng, PMP, president and chief operating officer of the company, commented: "With the rig now turning, we are excited to have moved from preparation to execution at the initial production module. Our next vertical well site is also licensed and constructed in advance of drilling, allowing the rig to move directly between wells in support of an efficient work program. We're drilling with experienced potash teams who have successfully executed potash projects in Saskatchewan's renowned solution mining belt, and each step from here is about executing the program we've carefully designed."

Disley project development plan

The IPM is designed to produce 125,000 tonnes per annum of soluble-grade potash and is the first of three planned solution mining facilities at the Disley project. The IPM has a lower initial capital expenditure requirement compared with the full Disley project buildout and is targeted to reach first production in first quarter 2027. At full buildout 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, a copy of which is available on the company's SEDAR+ profile. On a stand-alone basis, the PEA attributes a payback period of approximately 12 months from the start of IPM production. 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.

The IPM is intended to establish initial cash-flowing 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:

1. Source and disposal wells;
2. Horizontal line-drive drilling;
3. Brine circulation;
4. Site development; and
5. Surface processing.

Disley project -- general overview

The Disley project is located approximately 50 kilometres 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 favourable areas of Saskatchewan for potash solution mining as evidenced by the success of these neighbouring operations.

On May 22, 2026, Buffalo released the results of its maiden National Instrument 43-101 mineral resource estimate and preliminary economic assessment for the Disley project, prepared by Micon International Co. Ltd. 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 of $1.1-billion (U.S.) at a discount rate of 8 per cent and estimated internal rate of return of 30 per cent. 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.

About Buffalo Potash Corp.

Buffalo Potash is an emerging Saskatchewan-based potash developer pursuing a modular approach to selective solution mining through its patented horizontal line-drive 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, PEng, 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+. Readers are referred to that technical report, prepared by Micon International, 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, PGeo, 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.

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