Mr. Steve Halabura reports

BUFFALO POTASH COMPLETES FINAL HORIZONTAL WELL AND CONCLUDES SUCCESSFUL DRILLING PROGRAM

Buffalo Potash Corp. has completed the third and final horizontal well (the 1D15-10 well, or the injector well) at the initial production module (IPM), located at the company's flagship Disley property in Saskatchewan.

Highlights:

• Completed third and final horizontal well, concluding the drilling program at the Disley initial production module;
• All five wells are now complete, comprising two vertical wells and three horizontal wells, and the full subsurface foundation for Buffalo's HLD (horizontal line-drive) mining method is in place as designed;
• Each of the three horizontal wells made contact with approximately 95 per cent of the target clay seam, with packer systems installed along all three wells as planned;
• Completions and equipping operations will commence shortly to connect all of the wells and prepare for well cleanup.

With the injector well complete, all five wells at the IPM are now in place and the subsurface infrastructure required to operate Buffalo's patented horizontal line-drive (HLD) mining method has now been successfully installed as designed:

• Two vertical wells, the 15-10 source well and the 2-14 disposal well;
• Three horizontal wells, which will form the IPM's solution mining plane.

Quinton Hardage, PEng, PMP, president and chief operating officer of the company, commented: "Today we are closing out the drilling program exactly as we planned it. We drilled five wells and landed three horizontal laterals in the clay seam. Each of those laterals achieved approximately 95-per-cent contact, and every packer system was set where we designed it. HLD is built on a sequence of steps, each grounded in established drilling and completion principles, and success comes down to executing each step well. That is what this team has done. The mechanical foundation of the IPM is now in the ground, and we will prepare to move into brine circulation with a great deal of confidence in what we've built."

Steve Halabura, PGeo, chief executive officer and director of the company, commented: "This is the milestone the entire drilling program was designed to deliver. From here, the work shifts from placing infrastructure to preparing to operate it downhole. At that stage, we rely on the same dissolution chemistry that has underpinned solution mining in Saskatchewan for decades. Concluding the drilling stage, this cleanly puts Buffalo in an excellent position to approach the next phase of development and to continue advancing toward our target of first production in Q1 2027."

Phase 1 -- source and disposal wells

The two vertical wells provide the IPM's brine supply and disposal capacity. The source well will supply the NaCl (sodium chloride) brine injected into the mining plane and the disposal well provides brine disposal capacity for the IPM. Both the source well and disposal well were also cored and sent for assay analysis to enhance the company's geological understanding and support a feasibility study at Disley West and Disley East (see the company's news releases dated July 29, 2026, and Aug. 18, 2026).

Phase 2 -- horizontal line-drive drilling

The three horizontal wells form the solution mining plane. Two producer wells run on either side of a central injector well, and all three are placed along the basal Belle Plaine clay seam. The final well in the program, the 1D15-10 injector well, is a 565-metre lateral that made contact with approximately 95 per cent of the target clay seam. It is fitted with an 11-stage packer system that will serve as the injection points through which NaCl brine enters the mining plane.

Why placement matters: the mechanical foundation for brine circulation:

• The clay seam is the pathway: The basal Belle Plaine clay seam is the horizon, along which Buffalo intends to establish hydraulic connection between the wells. Brine will travel across the clay seam to create the mining plane. For this reason, the degree of contact each lateral achieves with the seam directly influences how well the wells can later communicate with one another.
• Consistent contact across all three wells: Achieving approximately 95-per-cent contact with the clay seam on each of the three horizontal wells means the injector and both producers are positioned along the same pathway, as designed.
• Packers control the flow: The packer systems act as injection points along the injection well and as collection points along the Production Wells. Packers installed and sealed as planned are designed to allow the Company to distribute fluid evenly along the length of the mining plane, rather than letting it follow a single preferential path. Even fluid distribution allows for maximum efficiency of solution mining.

Together, these results mean the mechanical foundation of the IPM has been constructed and installed in line with the Company's design.

Next Steps: Phase 3 - Brine Circulation

With drilling complete, Buffalo's work moves from installing infrastructure to commissioning and operating it downhole. This will be followed by cleaning up the wells and packers and making sure the packers along the horizontal wells are communicating before moving into brine circulation. During brine circulation, the company intends to proceed in three steps:

1. Inject NaCl brine from the source well through the injector well to establish pressure communication along the clay seam;
2. Clean out the clay seam along the seam;
3. Create the mining plane by increasing the rate of brine flow from the injector to both producer wells, creating surface area for dissolution of KCl in the overlying sylvite rock.

The selective dissolution of KCl using NaCl brine as the solvent operates similarly to the dissolution by freshwater that underpins the primary mining stage in conventional solution potash mining in Saskatchewan, including at the operations adjacent to the Disley project.

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 capex (capital expenditure) requirement compared with the full Disley project buildout and is targeted to reach first production in Q1 2027. At full buildout comprising the IPM and two 500,000-tonne-per-annum mines (Disley East and Disley West), the Disley project would be expected to produce up to 1,125,000 tonnes per annum 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, a copy of which is available on the company's SEDAR+ profile. On a stand-alone basis, the PEA estimates a payback period for the IPM of approximately 12 months from the start of 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 with 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 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 (complete);
3. Brine circulation;
4. Site development;
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 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 tonnes per annum of potash across three solution mining facilities, with an estimated after-tax net present value (NPV) of $1.1-billion (U.S.) at a discount rate of 8 per cent and estimated internal rate of return (IRR) 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 (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 persons

The technical information in this news release has been reviewed and approved by Dr. Douglas F. Hambley, PhD, PE, PEng, PG, an independent consultant to the company, who is a qualified person within the meaning of NI 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 NI 43-101. 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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