SASKATOON, SASKATCHEWAN – On behalf of Buffalo Potash Corp.’s (“Buffalo”, or the “Company”) management team, I am pleased to present the following update to all our shareholders and other stakeholders.
Permanent Patent Granted
On July 27, 2021, the United States Patent Office issued Buffalo a patent for Horizontal Line-Drive Selective Solution Mining Methods (“HLD”). We believe this is a huge step in changing the way potash is mined in Saskatchewan.
HLD Site Identified
We have identified a suitable site for our HLD mine site in the Rural Municipality (“RM”) of Sherwood. The Company has been in open discussions with the RM and residents of the area. We’ve secured an initial land package in the RM and are working to complete the acquisition program. This summer we purchased over 40 kms of 2D trade seismic in the area, which has helped identify several possible locations to showcase HLD mining. We look forward to working with the RM as we finalize these important steps towards the commercialization of the HLD technology in Saskatchewan.
Further De-Risking of Technology
This summer we engaged Rembe Consulting (Michael Rembe) and NGConsulting (Norbert Grüschow) of Germany to prepare a numerical simulation model of the flow between horizontal solution mining wells. Michael Rembe is a recognized expert in potash downhole simulations and Norbert Grüschow is a world expert in potash dissolution chemistry and solution mining. The work investigated key parameters of a Darcy-Flow of brine through a porous matrix of Sylvinite ore between injection and production wells for a well triplet accessing 900,000m³ of potash ore (520,000 tonnes at 29% KCl content) and it included aspects of selective salt dissolution, mass and heat transfer. The model shows that the completions operation to develop the mining plane needs to develop an almost homogeneous porous matrix to ensure a Darcy-Flow regime between injection and extraction wells to achieve approximately 100% KCl saturation. This will be completed by means of continuous injection at a recommended brine injection temperature of 70°C.
Our New Board of Directors
In October the Company held its first AGM. Shareholders elected a new Board of Directors (“BoD”) consisting of new directors Chief Connie Big Eagle of the Ocean Man First Nation, Dean Potter, and Brent Rheaume, and incumbent directors Steve Halabura and Ken Thomas.
Buffalo has also attracted a tier-1 team of technical experts to support the management team in the development of HLD mining.
Quo Vadis, Buffalo?
CEO Steve Halabura states the following, “The team has ensured that Buffalo is well-positioned for its next phase of growth, which is validation of the HLD mining concept by field testing the technology. I am confident we will succeed as we have hired a Tier-1 team of technical experts to help develop the HLD mining and processing concept.”
“There is no better proof of concept than to use HLD-generated brine to crystallize our first bag of potash. The Company is in good shape for this next phase – we have a strong Board, good partners, and an excellent technical plan.”
About Buffalo Potash Corp. (“Buffalo” or the “Company”)
Buffalo is a private Saskatchewan corporation seeking to produce potash and associated fertilizer products using its 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 GreenPotash™. 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, CEO & Director
1 306 220 7715
Steve@BuffaloPotash.ca
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.
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