Buffalo Potash Announces Initiation of Maiden Resource Estimate and Preliminary Economic Assessment FOR Flagship Disley Project
BUFFALO POTASH ANNOUNCES INITIATION OF MAIDEN
RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC
ASSESSMENT FOR FLAGSHIP DISLEY PROJECT
Highlights
• Buffalo Potash has engaged Micon International to prepare a Mineral Resource Estimate and
Preliminary Economic Assessment, anticipated to be completed Q2 2026
• Micon International has extensive experience in potash, with recent involvement in technical
studies of potash development projects; and
• Initiation of study follows Buffalo’s recent and ongoing technical programs, including 3D seismic,
re-assaying of historic drill core, and its 2026 drilling program at Disley.
SASKATOON, Saskatchewan, February 19, 2026 – Buffalo Potash Corporation (TSXV: BUFF) (the
“Company” or “Buffalo”) is pleased to announce that it has engaged Micon International Limited (“Micon”),
an independent mining consulting firm, to prepare a National Instrument 43 -101 (“NI 43 -101”) compliant
Mineral Resource Estimate (the “Mineral Resource Estimate”) and a Preliminary Economic Assessment
(the “ PEA”) for its flagship Disley Project (the “ Disley Project ”), located approximately 50 kilometres
northwest of Regina, Saskatchewan.
Study Overview
• The Company has engaged Micon to deliver a maiden resource estimate and PEA, with an
anticipated completion date of Q2 2026. The appointment of Micon to deliver the Mineral Resource
Estimate and PEA is an important milestone for the Disley Project, as it will provide the first
independent assessment of mineral inventory and preliminary project economics, which are
expected to include estimates of cash flows, net present value (NPV), internal rate of return (IRR),
and payback period.
• Micon is a leader in mineral resource estimation and mining project advisory with extensive
experience in estimating potash mineralized systems , including recent involvement in mineral
resource estimates and technical studies for potash development projects.
• The mineral resource estimate and preliminary economic assessment are expected to support the
Company’s modular Horizontal Line Drive (“HLD”) strategy at the Disley Project by establishing the
geological and engineering basis for potential phased solution mining development and defining
technical work programs to advance the project towards feasibility.
Mr. Steve Halabura P.Geo., Buffalo Chief Executive Officer, commented: “The Disley Project possesses
many of the defining characteristics of Saskatchewan’s most successful solution potash mining operations,
including potash mineralization observed in historical drilling , favourable depth, a strategic location in the
heart of one of the world’s premier potash producing district s, and access to existing infrastructure .
Importantly, the Disley Project was specifically targeted based on extensive historical geological and drilling
data and we have since invested considerable time a nd private capital advancing the project prior to
initiating our 2026 confirmation program.”
Mr. Halabura added: “We believe the maiden resource and PEA will mark an inflection point for Buffalo,
advancing Disley toward development and establishing a roadmap for a modular strategy that we believe
can be scaled across Saskatchewan.”
The Disley Project
The Disley Project is located approximately 50km northwest of Regina and covers 9,413 hectares. 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(1) – both of which are amongst 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 projects(1)(2).
Figure 1: The Disley Property Situated Amongst Major Potash Solution Mines(2)
Cautionary Statement Regarding Preliminary Economic Assessment
The PEA will be preliminary in nature and is intended to support the technical evaluation of the Disley
Project. The PEA will be based on the Mineral Resource Estimate once completed, and there is no certainty
that the results of the PEA will demonstrate e conomic viability or that the conclusions will be realized.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Buffalo Potash in the Media
Radius Research - Interview with Buffalo Potash CEO, Steve Halabura
https://www.youtube.com/watch?v=pEfcCxFfGAc&feature=youtu.be
CEO.ca - Interview with Buffalo Potash CEO, Steve Halabura
https://www.youtube.com/watch?v=PbUOLoOVKw8
Global News - On the ground reporting at Buffalo’s first confirmation drill hole
https://globalnews.ca/video/11644221/buffalo-potash-tests-alternative-drilling-method-in-saskatchewan/
Investor Relations Agreement
Buffalo is also pleased to announce it has entered into an agreement commencing February 23, 2026 (the
“Agreement”) with Oak Hill Financial Inc. (“ Oak Hill”), an arm’s length party to Buffalo, to provide certain
investor relations services to Buffalo Potash including, without limitation, in relation to providing strategic
advice with respect to Buffalo’s stakeholder communication initiatives and to expand ma rket
awareness (the “Services”). Oak Hill will comply with all applicable securities laws and the pol icies of the
TSX Venture Exchange (the “TSXV”) in providing the Services. The Agreement is subject to TSXV approval
and shall be for an initial six-month term, for a monthly fee of $12,000, plus applicable taxes, which may be
automatically renewed for successive one-month periods.
No securities of BUFF are being granted to Oak Hill under the terms of its engagement and to the
knowledge of Buffalo, neither Oak Hill nor any of its directors, officers or employees currently owns any
securities of BUFF or has any present intention to acquire any securities of the Company. Buffalo may also
reimburse Oak Hill for certain expenses incurred in connection with the Services.
Oak Hill is based in Toronto, Ontario, and specializes in leveraging the most effective investment, growth
and exposure strategies for small to mid -size companies through an integrated approach to relationship
development and corporate communications. The contact information for Oak Hill is Oak Hill Financial Inc.,
2 Bloor Street West, Suite 2900, Toronto, Ontario Canada M4W 3E2. Tel: 647.479.5803.
Email: [email protected]. Jonathan Robinson, a Partner of Oak Hill will be principally responsible for
the Services on behalf of Oak Hill.
About Oak Hill Financial Inc.
Oak Hill is a leading provider of investor relations and capital markets advisory services, supporting
companies in enhancing visibility, credibility and engagement within the investment community. Oak Hill
also provides third party marketing services for asset managers looking to access the Canadian CIRO retail
brokerage market.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Douglas F. Hambley, PhD, PE, PEng, PG, an independent consultant of the Company and Qualified
Person as defined under NI 43-101. Dr. Hambley is Buffalo’s principal Qualified Person as defined by the
NI 43-101 Guidelines and is a globally recognized expert in potash geology and mine development. Mr.
Hambley will also be assisting Micon in their preparation of the MRE and PEA.
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.
Contact
Steve Halabura | Chief Executive Officer & Director
Email: [email protected] | 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) No mineral resources , as categorized by NI 43 -101, have been defined on the Disley Project. The
Company will need to conduct additional work to define mineral resources. There is no guarantee that the
Company will be able to define mineral resources as categorized by NI 43-101 on its Disley Project.
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: plans
for the cores, including plans related to the logging, sampling and assaying of such cores; expectations
regarding the results of analysis, sampli ng and assays; expectations regarding the Disley Project’s
potentials for solution mining; and 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.
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 Company’s ability to complete the Mineral Resource Estimate and PEA; the results and timing
of the Mineral Resource Estimate and PEA; risks related to exploration and development activities;
uncertainty in geological interpretation; reliance on historical data and pilot testing; technical risks
associated with solution mining and new or emerging technologies; regulatory approvals and per mitting
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.