Highlights

• 15-10 Source Well - located on the Initial Production Module ("IPM") pad - intersected 20.5m of net sylvinite grading 39.4% sylvite (KCl);
• Belle Plaine Member at 15-10 - the Member hosting the IPM's first solution mining plane - intersected 5.5m of net sylvinite grading 36.9% KCl;
• 2-14 Disposal Well - approximately 1,600m east of the IPM - intersected 16.2m of net sylvinite grading 32.6% KCl;
• Both wells were drilled as operating infrastructure for the IPM and cored with 100% recovery over approximately 108m each, adding two modern assayed drillholes to the Disley Project at no incremental drilling cost; and
• IPM development remains on budget and on schedule: drilling of all five wells are complete, completions and equipping are underway ahead of Phase 3 (brine circulation), and first production is targeted for Q1 2027.

Saskatoon, Saskatchewan--(Newsfile Corp. - October 14, 2026) - Buffalo Potash Corporation (TSXV: BUFF) (OTCQB: BLPTF) (FSE: VU5) (the "Company" or "Buffalo") is pleased to announce assay results from cores taken in the 15-10 well (the "Source Well") and the 2-14 well (the "Disposal Well") at the IPM on the Company's flagship Disley property in Saskatchewan (the "Disley Project").

Both wells were drilled this summer as part of Phase 1 of the IPM build-out (see the Company's news releases dated July 29, 2026 and August 18, 2026). Their primary role is operational - supplying and disposing of brine for the IPM - but the Company cored each well through the potash-bearing Members of the Prairie Evaporite Formation during drilling. The results confirm high-grade sylvinite at the site of Buffalo's first mining plane and add two new control points to support a feasibility study for Disley East and Disley West.

Mr. Steve Halabura, P.Geo., Chief Executive Officer and Director of the Company, commented: "We drilled the 15-10 and 2-14 wells to do a job for the IPM, but we were never going to pass up the chance to core through the potash on the way down. These results put high-grade sylvinite right where we are building our first mining plane, and they line up with what we saw at 7-10 earlier this year. Every well we drill at Disley now does double duty - it builds the operation and it builds our understanding of the deposit for Disley East and West."

Mr. Quinton Hardage, P.Eng., PMP, President and Chief Operating Officer of the Company, commented: "Buffalo's focus is on bringing the IPM into production. With all five wells in the ground, our team is working through completions and equipping ahead of brine circulation. Seeing high-grade potash mineralization directly above our mining plane is valuable confirmation as we prepare for the brine circulation phase."

Assay Results

Core from both wells was sampled and submitted to SRC Geoanalytical Laboratories for potash ICP analysis. Results by Member are summarized in Table 1, alongside the Company's 7-10 confirmation hole drilled earlier in 2026 (see March 25, 2026 announcement). Given that the beds are flat-lying in proximity to the drill holes, sample thicknesses are the same as Member and bed/seam true thicknesses.

Table 1: Disley Project Assay Results by Member

^(†) Notes: Patience Lake: the uppermost potash-bearing Member; subdivided into upper ("UPL") and lower ("LPL") intervals

Belle Plaine ("BP"): situated stratigraphically below Patience Lake;

Esterhazy ("EST"): the deepest of the three potash-bearing members; targeted Member for mining at adjacent K+S Bethune and Mosaic Belle Plaine potash solution mines

K2O is typically used for geological purposes, whereas KCl is typically used for production of potash with the conversion factor between the two being multiplying K2O by 1.583 to get KCl %

Path to Updated PEA and Feasibility Study

The 15-10 and 2-14 assay results were not included in the NI 43-101 Mineral Resource Estimate underpinning the Company's Preliminary Economic Assessment ("PEA"). Buffalo intends to commission an updated Mineral Resource Estimate and updated PEA for the Disley Project, which would incorporate the new drillhole data from the 15-10 and 2-14 wells.

An updated PEA would also allow the Company to reflect proposed changes to Canada's tax regime since the current PEA's effective date. On September 15, 2026, the Government of Canada announced the proposed Productivity Mega Deduction. It would permit an immediate deduction for eligible capital property, including certain mine structures, processing equipment, and Canadian development expenses, acquired or incurred on or after that date. The PEA's after-tax economics were prepared before this announcement and do not reflect the proposed measure, which has not yet been enacted.

Buffalo intends to use the expanded geological and future operating dataset from the IPM as the foundation for a feasibility study on the additional Disley West and Disley East expansions. There is no certainty that an updated Mineral Resource Estimate, updated PEA or feasibility study will be completed, or that the Productivity Mega Deduction will be enacted as proposed.⁽²⁾

IPM Development Update

On September 25, 2026, Buffalo completed the third and final horizontal well at the IPM, concluding the drilling program with all five wells in place as designed (see September 25, 2026 announcement). Each of the three 565m horizontal laterals achieved approximately 95% contact with the target clay seam, with 11-stage packer systems installed along all three wells. On September 17, 2026, the Company also announced a determination from the Saskatchewan Ministry of Environment that the IPM is "not a development" under The Environmental Assessment Act, so no environmental impact assessment is required.

Disley Project - General Overview

The Disley Project is located approximately 50 kilometers northwest of Regina and covers 10,610 hectares of 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 tonnes per annum ("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:
https://images.newsfilecorp.com/files/12107/318893_6faa785a241c8ad9_001full.jpg

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 an updated mineral resource estimate, a new mineral reserve estimate, or economic analysis 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 is preliminary in nature and 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 from the Mineral Resource Estimate; 2) performance of the Company's Horizontal Line-Drive mining method, which has not been operated at commercial scale, that is not as anticipated; 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," 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 IPM remaining on budget and on schedule; the timing, sequencing and completion of equipping at the IPM and the commencement of the brine circulation phase; the establishment of a solution mining plane at the IPM using the Company's patented Horizontal Line-Drive mining method; the anticipated timing of first production from the IPM; the significance of the 15-10 and 2-14 assay results, including their relevance to the IPM mining plane; the Company's intention to commission an updated Mineral Resource Estimate and an updated PEA; the proposed Productivity Mega Deduction; the anticipated timing and phasing of development and commercial production for the IPM, Disley East and Disley West; the results, assumptions and projections contained in or derived from the Mineral Resource Estimate and PEA; the Company's reliance on the Saskatchewan Ministry of Environment's determination under The Environmental Assessment Act; expectations regarding the Disley Project's potential for solution mining; and the Company's broader development plans and strategy for 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: geological continuity, potash grade and thickness between and beyond drillholes; that assay results from individual wells are representative of the broader deposit; the applicability of historical data; completion and equipping proceeding on schedule and within budget; costs of production; the commencement of brine circulation; production ramp-up rates and timing for the IPM; the receipt of required permits and approvals; the Ministry of Environment determination remaining in effect; and the Productivity Mega Deduction being enacted substantially as proposed.

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; the limited number of drill holes and the risk that assay results from individual wells are not representative of the broader deposit; the risk that an updated Mineral Resource Estimate, updated PEA or feasibility study is not completed, is delayed, or produces materially different results from the current estimates; the risk that the Productivity Mega Deduction is not enacted, is enacted in a modified form, or does not apply to the Company's expenditures as anticipated; risks related to exploration and development activities; the risk that the IPM does not generate operating data sufficient to support a feasibility study; risks related to the development, commissioning, and operation of novel mining technology, including that the Company's HLD mining method has not been operated at commercial scale and that successful completion of the drilling phase does not guarantee successful performance during brine circulation or commercial production; 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 such information, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318893