Mr. Steve Halabura reports

BUFFALO POTASH MOBILIZES DRILL RIG FOR INITIAL PRODUCTION MODULE DEVELOPMENT

Buffalo Potash Corp. has initiated the next phase of work at the initial production module at the company's flagship Disley property in Saskatchewan, located 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.

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.

Quinton Hardage, PEng, PMP, president and chief operating officer of the company, commented: "Buffalo has assembled a team of technical professionals with first-hand 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 licences 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. 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."

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 forst 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 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 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 first-hand 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, including stripping and stockpiling of topsoil and subsoil to prepare a stable, level surface for safe and effective rig mobilization and drilling operations.

Well licences received -- Buffalo has received all well licences 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 continuing 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 buildout 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 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 PEA 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.

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