Buffalo Potash Achieves Permitting Milestone at Disley Project

Saskatchewan Ministry of Environment Determines Disley Initial Production Module is Not a "Development"; No Environmental Impact Assessment Required

Saskatoon, Saskatchewan--(Newsfile Corp. - September 17, 2026) - Buffalo Potash Corporation (TSXV: BUFF) (OTCQB: BLPTF) (FSE: VU5) (the "Company" or "Buffalo"), is pleased to announce that it has received a ministerial determination (the "Determination") from the Saskatchewan Ministry of Environment ("MOE") confirming that its Initial Production Module at its Disley Project (the "Project") does not meet the criteria of section 2(d) of the Environmental Assessment Act and is therefore not a "development" that is required to undergo an Environmental Impact Assessment ("EIA").

Mr. Steve Halabura, P.Geo., Chief Executive Officer and Director of the Company, commented: "This is a landmark regulatory achievement for Buffalo and reflects the environmental soundness of the sustainable development approach Buffalo is undertaking at Disley, highlighted by minimal surface disturbance, no salt tailings or brine ponds, and most importantly - minimal freshwater consumption. We appreciate the Ministry's timely and thorough review of our application and are excited about how this will support our goal of first production at Disley in early 2027."

Mr. Quinton Hardage, P.Eng., PMP, President and Chief Operating Officer of the Company, commented: "Potash solution mining in Saskatchewan has always been based on oil and gas technology. The original solution mines that were built in the 1960s used the best of what the oil and gas sector had to offer in that era and that's exactly what we're doing at Disley - sixty years of innovation later. A practical result of being able to solution mine more efficiently is that we are no longer required to locate a mine where high-grade potash and abundant freshwater happen to coincide - putting new high-quality targets in play."

Basis for Determination

The Company's technical proposal, prepared by independent Saskatchewan environmental consultancy Axiom Group, was submitted to the MOE on August 20, 2026. Under section 2(d) of the Act, a project is a "development" that must undergo an EIA if it is likely to: have an effect on any unique, rare or endangered feature of the environment; substantially utilize any provincial resource and in so doing pre-empt the use, or potential use, of that resource for any other purpose; cause the emission of any pollutants or create by-products, residual or waste products which require handling and disposal in a manner that is not regulated by any other Act or regulation; cause widespread public concern because of potential environmental changes; involve a new technology that is concerned with resource utilization and that may induce significant environmental change; or have a significant impact on the environment or necessitate a further development which is likely to have a significant impact on the environment.

Following its screening, the MOE concluded that the Project met none of the six criteria in section 2(d) of the Act and is therefore not required to complete an EIA. The Determination is subject to terms and conditions, including the Project being carried out as described in the technical proposal and that the MOE be advised of any significant change or if work is not commenced within two years, and the Project remains subject to all other regulatory requirements.

Buffalo also hosted two public information sessions in Lumsden, Saskatchewan, on April 30 and July 9, 2026. Feedback from both sessions was supportive and no outstanding environmental concerns were raised. The Company has advised the Rural Municipalities of Dufferin No. 190 and Lumsden No. 189 of the Project and maintains ongoing engagement with landowners and other stakeholders in the region.

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:

1. Source and disposal wells (complete);
2. Horizontal Line-Drive ("HLD") drilling (ongoing);
3. Brine circulation;
4. Site development; and
5. 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 1) 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 1: The Disley Property Situated Amongst Major Potash Solution Mines⁽¹⁾

To view an enhanced version of this graphic, please visit:
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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 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.

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.

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, but are not limited to: 1) grade, continuity, or thickness of mineralization that differs significantly from the Mineral Resource Estimate; 2) improper or inadequate performance of the Company's Horizontal Line-Drive mining method, which has not been operated at commercial scale,; 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," "potential," "targeted," "scheduled," "budget," "proposed," "objective," and "seek," or similar expressions, the negative of such expressions, and similar expressions that are not statements of historical fact.

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 completion of all horizontal wells, the development of the mining plane, site development, and the installation and commissioning of processing equipment; the intended operation and performance of the Horizontal Line-Drive mining method, including brine flow to the producer wells, thereby creating surface area for the dissolution of KCl in the adjacent rock; 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 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; 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; the Company's expectations regarding the environmental and regulatory permitting process, including the anticipated advancement to construction permitting; and the Company's ongoing engagement with local stakeholders and communities.

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 stability of the regulatory and political environment in which the Company operates; favourable environmental conditions; the ability to obtain and maintain required mineral rights and surface access; the accuracy of the Company's current mineral resource estimates; no material adverse changes in potash commodity markets; the continued availability of key management personnel and technical experts; and the Company's ability to maintain its patents and intellectual property rights, including with respect to the Horizontal Line-Drive mining method.

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 any forward-looking information, except as required by applicable securities laws.

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