Saskatoon, Saskatchewan--(Newsfile Corp. - January 26, 2026) - Buffalo Potash Corporation (TSXV: BUFF) (the "Company" or "Buffalo") announces that it has initiated drilling the first confirmation hole 7-10-20-23 W2 (the "7-10 Well") on its flagship Disley Project (the "Disley Project") in Saskatchewan. Drilling of this well marks the commencement of Buffalo's planned drilling program and the first step in the Company's initial phase of work (the "Confirmation Phase"), during which Buffalo intends to confirm the potash potential of the Disley Project and position the Company for development of a showcase facility.
Mr. Steve Halabura, P.Geo., Chief Executive Officer of the Company, commented: "This is how we convert the big vision into tangible shareholder value - executing a development strategy that implements an updated solution mining approach using proven oil and gas technology. Drilling represents the next step in validating the geology underpinning our strategy as part of a systematic approach to advancing the Disley Project."
Mr. Halabura commented further: "Geologically, the Disley Project is in Saskatchewan's Elk Point Basin, which is the foundation of global potash supply. Saskatchewan is also the most established potash jurisdiction globally based on reserves, historic production, regulatory support, workforce knowledge, and infrastructure in place. We are fortunate to have a project in this basin, next to some of the largest potash solution mines in the world and adjacent to rail, road, gas, and power. We know the geology of this area very well and we believe the Disley Project is prospective to host Saskatchewan's next potash solution mine."
Saskatchewan's Elk Point Basin
The Elk Point Basin of Saskatchewan is the world's largest source of potash, spanning 1.2 million square kilometers, and by some assessments, may contain 40% to more than 50% of the world's total potash resource1. Since mining began in 1962, companies operating in the Elk Point Basin have produced more than 605 million tonnes of potash1 (KCl), underscoring the basin's global and geopolitical importance to fertilizer supply and food security.
2026 Confirmation Phase
Buffalo is advancing a series of development milestones to assess the Disley Project as part of the Confirmation Phase in the Company's systematic development approach. The Confirmation Phase is designed to provide a preliminary economic assessment of the long-term viability of a selective solution potash mining operation on the property using the Company's patented Horizontal Line-Drive ("HLD") mining system, subject to the results of ongoing technical work.
Key objectives for the Confirmation Phase include:
- Drilling of Confirmation Well #1;
- Drilling of Confirmation Well #2;
- Testing and analysis of core samples, including the historical pilot (as defined below);
- Completion of additional 3D seismic interpretation;
- Evaluation of resource potential and preparation of a NI 43-101 technical report; and
- Commissioning and completion of a Preliminary Economic Assessment ("PEA").
There is no guarantee that the Company will be able to complete the key objectives listed above during the Confirmation Phase as stated and execution sequence may be subject to change.
The Disley Project
The Disley Project is approximately 50km northwest of Regina and covers some 9,413 hectares. The property is situated immediately adjacent to the east of the K+S Bethune solution potash mine and northeast of the Mosaic Belle Plaine solution potash mine - two of the largest producing conventional solution potash mines globally. In the opinion of management, the Disley Project is in one of the most favorable areas of Saskatchewan for solution mining (see Figure 1) as evidenced by the success of its neighbouring projects. However, there is no guarantee that the Disley Project will yield comparable results to any neighbouring projects.
Figure 1: Buffalo's Disley Project Location Relative to the K+S Bethune Mine in Saskatchewan
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In the 1960s, a historical pilot project was conducted within what is now Buffalo's Disley Project by the Lumsden Potash Development Company to evaluate the potential for solution mining using brine injection and recovery wells (the "Historical Pilot"). The Historical Pilot successfully demonstrated communication across the potash zone and the ability to extract potash using a two-well cavern system (see Figure 2).
Buffalo has incorporated the results and geological data from the Historical Pilot together with 3D seismic interpretation and geochemical modelling to inform management's preliminary geological interpretation and assessment of the broader Disley Project. Based on this information, management believes the Disley Project exhibits geological conditions present in other successful solution mining projects in the region, subject to further technical validation, making the Disley Project prospective for development of a modular, selective solution mining potash operation.
Figure 2: 3D Seismic Over the Disley Project Drill Area
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Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Douglas F. Hambley, PhD, PE, PEng, PG, an independent consultant and Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Notes
- (1) Cocker, M.D., Orris, G.J., Dunlap, P., Yang, C., and Bliss, J.D., 2023, Geology and undiscovered resource assessment of the potash-bearing, Middle Devonian (Givetian), Prairie Evaporite, Elk Point Basin, Canada and United States: U.S. Geological Survey Scientific Investigations Report 2010-5090-CC, 145 p.
- (2) For additional information regarding Buffalo Potash Corp.'s Disley Project, please refer to the technical report entitled "NI 43-101 Technical Report Concerning Exploration Information for the Disley Potash Project (Subsurface Mineral Permit SMP 199), Saskatchewan" with an effective date of October 8, 2025, prepared by Douglas F. Hambley, PhD, P.E., P.Eng., P.G., of DFH Geoscience & Engineering, LLC, who is a "qualified person" as defined under National Instrument 43-101. The technical report is available under Buffalo Potash Corp.'s SEDAR+ profile at www.sedarplus.ca.
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 next to several 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.
Contact
Steve Halabura | Chief Executive Officer & Director
Email: steveh@conceptforge.ca | Phone: 1-306-220-7715
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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 Company's planned exploration and drilling activities at the Disley Project; the objectives, timing, and results of the Confirmation Phase; the testing, interpretation, and use of historical core, pilot project data, and geological information; the evaluation of resource potential; the preparation of technical and economic studies, including a Preliminary Economic Assessment; the potential application and performance of the Company's patented Horizontal Line-Drive ("HLD") mining system; and the potential advancement and development of the Disley Project.
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, 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: risks related to exploration and development activities; uncertainty in geological interpretation; reliance on historical data and pilot testing; technical risks associated with solution mining 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.
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