Buffalo Potash secures C$8.5M royalty deal with Altius

Saskatoon, Saskatchewan - Buffalo Potash Corporation has reached a mutually agreed upon royalty deal with Altius Royalty Corporation, a subsidiary of Altius Minerals Corporation, according to a recent press release. The binding letter of intent, signed on October 21, 2026, sees Altius acquiring a 1.0% gross overriding royalty on Buffalo's Disley West property for a total cash consideration of C$8.5 million.

The payment structure includes an upfront payment of C$3.4 million at closing, followed by C$5.1 million upon meeting certain technical conditions related to brine circulation. This royalty agreement covers Buffalo's Disley West property, comprising SMP 199 Subsurface Mineral Permit and certain freehold mineral lands. Additionally, Altius has been granted a right of first offer on SMP 222, the Disley East property.

Buffalo's Edenwold and Odessa properties remain unaffected by this royalty arrangement. The funds raised from this deal will be utilized to propel Buffalo's Initial Production Module towards first production in Q1 2027, with a projected annual capacity of 125,000 tonnes of soluble-grade potash. Importantly, Buffalo's production decision is not contingent on the feasibility study of mineral reserves, as no reserves have been established at the Disley Project.

This transaction follows Altius's C$3 million participation in Buffalo's June 2026 private placement. Altius holds royalty interests in six operating potash mines in Saskatchewan, managed by Nutrien Ltd. and The Mosaic Company. Buffalo Potash is advancing its Horizontal Line-Drive technology for selective solution mining at the Disley Project in Saskatchewan.

The transaction requires acceptance and satisfaction of various conditions on the TSX Venture Exchange.