Highlights
- Buffalo Potash has engaged Rheaume Engineering Inc. to complete engineering design of an Initial Production Module (“IPM”) for the Disley Project;
- The IPM represents the first of three planned production facilities at Disley, with the IPM having a design capacity of 125,000 tonnes per annum (“TPA”) of potash production; and
- The engagement follows Buffalo’s recently completed Preliminary Economic Assessment, which outlines a modular development pathway for the Disley Project.
SASKATOON, Saskatchewan, May 27, 2026 – Buffalo Potash Corporation (TSXV:BUFF) (OTCQB: BLPTF) (the “Company” or “Buffalo”) is pleased to announce that it has engaged Rheaume Engineering Inc. (“Rheaume”), an Alberta-based engineering, procurement, and construction management (“EPCM”) firm, to complete engineering design of the Initial Production Module (“IPM”) for its flagship Disley Project (the “Disley Project”), located approximately 50 kilometers northwest of Regina, Saskatchewan.
Mr. Steve Halabura P.Geo., Buffalo Chief Executive Officer, commented: “The engagement of Rheaume Engineering marks a tangible next step in advancing the Disley Project from study to execution. The IPM is the first leg of our phased buildout and the foundation upon which we expect to establish initial soluble-grade potash production and early-stage revenue. Bringing an experienced engineering team to the table at this stage who is familiar with our patented mining methodology reflects our commitment to practical, efficient execution and capital allocation – the same approach that has defined the Disley Project from the outset.”
Brent Rheaume, Rheaume President, commented: “Rheaume Engineering has spent more than two decades building expertise at the intersection of mining and energy, and Buffalo Potash represents exactly the kind of project that defines that confluence. The modular vision Steve and his team have developed for potash production – in Saskatchewan and on the global stage – is one we are proud to support with everything we have built over those years.”
Engagement Overview
Rheaume was selected for its experience with potash and oil and gas producing systems. Rheaume was also an early contributor to the design of Buffalo’s Vortex Crystallizer, including the original engineering work for surface processing related to Buffalo’s HLD solution mining design. Rheaume is expected to complete detailed modelling of the Vortex Crystallizer, in addition to completing engineering and Issued for Construction (“IFC”) drawings for all surface components of the IPM. The IFC’s includes site, piping, tanks, buildings, Vortex Crystallizer, centrifuge, drawing baghouse, and all support equipment highlighted in the Process Flow Diagrams contained in the Preliminary Economic Assessment (the “PEA”).
Initial Production Module
The IPM is the first of three planned solution mining facilities at the Disley Project, with a design capacity of 125,000 TPA of soluble-grade potash, with first production targeted in Q1 2027 and a lower initial CAPEX requirement compared to the full Disley Project build-out.(2) At full build-out – comprising the IPM and two 500,000 TPA mines at 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 PEA. The modular approach is central to Buffalo’s strategy, 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.
The Disley Project
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 adjacent 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 amongst the largest producing potash solution mines in the world.(1) 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 projects. (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 1,125,000 TPA of potash across three solution mining facilities, with an estimated after-tax net present value (NPV) of US$1.1B 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 Mines1
About Rheaume Engineering
Rheaume Engineering Inc. is a multidisciplinary EPCM firm founded in 2005 and headquartered in Grande Prairie, Alberta, with an office in Calgary. Over the past two decades, Rheaume has grown into a full-suite EPCM provider serving the energy, industrial, and resource sectors across Western Canada. The firm brings expertise across civil, structural, mechanical, electrical, and process disciplines, with a track record of delivering practical, field-proven solutions across projects of varying scale and complexity.
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.
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 of 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.
Contact
Steve Halabura | Chief Executive Officer & Director
Email: steve@buffalopotash.ca | Phone: 1-306-220-7715
Neither the TSX Venture Exchange nor its Regulation Service 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 north of 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 does not have any 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. The after-tax NPV and IRR figures referenced above are based on the assumptions set out in the PEA technical report filed under the Company’s profile on SEDAR+ at www.sedarplus.ca, and readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions, and exclusions that relate to the PEA.
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 completion of engineering design of the IPM; the completion of detailed modeling of the Vortex Crystallizer; the anticipated timing and phasing of construction 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 for the Disley Project, including projected production rates and timing of production; expectations regarding the Disley Project’s potentials for solution mining; expectations regarding the Mineral Resource Estimate and PEA, including: the timing and completion thereof; the contents, results and estimates contained therein; and that they are expected to support the Company’s HLD strategy; 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, 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.
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; 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 such information, except as required by applicable securities laws.
