SASKATOON, SASKATCHEWAN – Buffalo Potash Corp. (“Buffalo”) is pleased to announce the previously reported 3D seismic program was completed in June with initial results delivered in August. The final results of the 3D seismic will be delivered at the end of September, at which time a minimum of two confirmation drillhole locations will be selected. 

Buffalo also completed an Internally Generated Detailed Scoping Study and third-party Class 4 (±30%) Cost Estimate for the HLD Downhole Showcase, a temporary facility that will act as a Proof-of-Concept for its patented Horizontal Line-Drive (“HLD”) selective solution mining technology and also provide data to allow Buffalo to optimize subsequent studies and detailed design for HLD mine design. The design allows for Buffalo to operate the HLD Downhole Showcase for at least 120 days with total cost estimated to be less than $25 million (Class 4 AACE) and is planned for early 2024. 

The operational goals of the HLD Downhole Showcase are: 

  • • Create a horizontal mining plane connecting the injection and production wells 
  • • Produce a consistent high-grade potassium chloride brine 
  • • Determine operational injection temperatures, pressures and rates 
  • • Operate the HLD system under field conditions 
  • • Test well configurations such as packer spacing and 
  • • Demonstrate usage of minimal amounts, if any, of fresh water for mining purposes. 

The following 3D renderings depict the layout of the HLD Downhole Showcase. The test will require a 3-well “triplet” consisting of a central horizontal solvent injection well, with the two outlying wells being saturated potash brine production wells. Once the potash brine is at surface it is received in a tank before entering the patent-pending Vortex Crystallizer and/or the open cooling tanks where the KCl is crystallized. A source well will be drilled into the Cretaceous Mannville Formation to provide the required solvent (fully saturate with NaCl in mixing tank) brine required for mining. 

“The 3D seismic shot earlier this summer confirmed there are no geological anomalies that would hinder our initial mining layout”, commented Steve Halabura, CEO of Buffalo. “I am pleased with our progress in advancing our Hub-and-Spoke business model and our innovative HLD mining technology. This will be a game changer for Saskatchewan’s potash sector.” 

About Buffalo Potash Corp. (“Buffalo” or the “Company”) 

Buffalo is a private Saskatchewan corporation seeking to produce potash and associated fertilizer products using its Horizontal Line-Drive Selective Solution Mining (HLD) mining technology. The Company believes its HLD-equipped mine has the potential to produce high quality, environmentally conscious, Muriate of Potash (“MOP”) product called HLD GreenPotashTM. The facility is designed to minimize the use of fresh water and minimized energy requirements, and with a small surface footprint to further reduce the environmental impact. 

For more information, please contact: 

Steve Halabura, P.Geo. 

CEO & Director 

1 306 220 7715 

This press release/shareholder update contains certain forward-looking statements relating, but not limited, to Buffalo Potash Corp. expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intent”, “estimate”, “may” and “will” or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, costs of capital projects and timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the recovery of resources varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. 

Shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Buffalo Potash Corp. undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. 

This caution is provided in accordance with the requirements of Parts 4A and 4B of National Instrument 51-102 Continuous Disclosure Obligations, respecting disclosure of forward looking information. 

Securities legislation in certain provinces and territories of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. The right may be exercised within two business days after receipt or deemed receipt of a prospectus, offering memorandum or any amendment thereto. In several of the provinces, securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revisions of the price or damages if the offering document, or any amendment thereto, contains a misrepresentation or is not delivered to the purchaser, provided that such remedies for 

rescission, revision of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser’s province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser’s province or territory for the particulars of these rights or consult with a legal advisor. 

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