Sage Potash Corp.'s Updated Mineral Resource Estimate Delivers 226 Million Tonnes at 41.36% KCl in Measured & Indicated and an Additional 545.4 Million Tonnes at 41.53% KCl in Inferred

Sage Potash triples resource size to 771.5 million tonnes after 2026 drilling in Utah.

What the company is saying

Sage Potash Corp. is highlighting a major technical milestone: a new Mineral Resource Estimate for its Sage Plain Potash Project in Utah, prepared by RESPEC LLP, which introduces measured and indicated categories and materially expands the total resource. The company quantifies the upgrade as a 259% increase in tonnage compared to its previous Preliminary Economic Assessment, with measured resources now at 54.3 million tonnes grading 41.31% KCl, indicated at 171.8 million tonnes grading 41.37% KCl, and inferred at 545.4 million tonnes grading 41.53% KCl. CEO Pat Varas frames the results as validation of the project's scale and quality, and positions the new estimate as the foundation for a forthcoming Pre-Feasibility Study. The announcement emphasizes the technical credibility of the data, reviewed by Qualified Person Eric Hemstad, PE, and stresses the project's potential to support a scalable, high-grade potash operation. Forward-looking statements are present but clearly separated, focusing on next steps such as engineering, permitting, and stakeholder engagement. The tone is confident but measured, with no claims of imminent production or economic returns.

What the data suggests

The disclosed figures show a substantial increase in Sage Potash's resource base, with total resources now at 771.5 million tonnes and measured plus indicated resources totaling 226.1 million tonnes, all grading above 41% KCl. The resource estimate is detailed, breaking down measured, indicated, and inferred resources for both Upper and Lower Cycle 18 beds, including area, thickness, grade, carnallite, and insoluble content. The resource is based on a 100% extraction ratio and 0% plant loss, with a 25% area exclusion for unknown seismic anomalies due to the absence of 3D seismic. The upgraded estimate represents a 259% increase in tonnage over the September 2025 PEA, with the new measured and indicated categories providing greater confidence in the resource. The technical data is NI 43-101-compliant and reviewed by an independent Qualified Person. No financial or economic metrics are provided at this stage, and deductions for mining parameters and economic cut-offs are not yet applied. The project remains at the resource-definition stage, with the next milestones being a Technical Report within 45 days and a Pre-Feasibility Study to come.

Analysis

The announcement is a technically detailed and well-supported disclosure of a major upgrade to Sage Potash Corp.'s resource base, following the completion of its Summer 2026 drill program. The resource estimate is prepared by an independent Qualified Person and provides specific, NI 43-101-compliant figures for measured, indicated, and inferred resources, including grades, thicknesses, and areas. The 259% increase in tonnage compared to the prior PEA is a realised, material improvement. However, all forward-looking statements (Pre-Feasibility Study, engineering, permitting, and infrastructure studies) are clearly identified as next steps, with no claims that these have commenced or are imminent. The project remains at the resource definition stage, with significant capital-intensive work (solution mining engineering, permitting, infrastructure) still ahead and no timeline for production or cash flow. The tone is proportionate to the technical achievement, with no exaggerated claims about near-term production or economic impact.

Risk flags

• ●Execution risk is high, as the project is still at the resource-definition stage and faces multiple technical, regulatory, and permitting hurdles before any production or revenue can be realized. The next steps—solution mining engineering, process design, environmental studies, and permitting—are capital-intensive and could encounter delays or cost overruns.
• ●Resource estimate assumptions carry risk: the current tonnage is based on a 100% extraction ratio and 0% plant loss, with no deductions yet applied for mining parameters or economic cut-offs. Actual recoverable resources may be materially lower once these factors are incorporated in future studies.
• ●Infrastructure and logistics risks are highlighted by the need for trade-off and availability studies for power, water, and transportation. The project's economic viability will depend on securing reliable and cost-effective access to these inputs, which is not yet assured.
• ●Market and financing risk remains, as there is no mention of offtake agreements, project financing, or binding partnerships. The company will need to secure significant capital to advance toward production, and market conditions for potash could shift before the project is de-risked.
• ●Permitting and environmental risks are present, with ongoing environmental study work and permitting activities required for the new throughput capacity design. Regulatory approvals can be lengthy and uncertain, especially for solution mining projects in the United States.

Bottom line

Sage Potash Corp. has delivered a technically robust and independently verified resource upgrade, with total resources now at 771.5 million tonnes and measured plus indicated resources at 226.1 million tonnes, all grading above 41% KCl. The 259% increase in tonnage over the prior PEA is a material improvement, but the project remains at an early stage with no economic or financial analysis yet available. All forward value depends on successful completion of engineering, permitting, and a Pre-Feasibility Study, with no timeline for production or revenue. The main takeaway is that Sage Potash now controls a large, high-grade potash resource in Utah, but investors should recognize that realization of value is several years and multiple milestones away, with significant execution, permitting, and financing risks ahead. The next concrete deliverable is a NI 43-101 Technical Report within 45 days, followed by a Pre-Feasibility Study that will be critical for assessing economic viability.

Announcement summary

(TSXV:SAGE, OTCQB:SGPTF) Sage Potash Corp. announced a significant upgrade to its potash resource estimates following the completion of its Summer 2026 drill program at the Sage Plain Potash Project in Utah's Paradox Basin. The new Mineral Resource Estimate (MRE), prepared by RESPEC LLP, expands the inferred potash resource and introduces measured and indicated resource categories. The measured potash resource is 54.3 million tonnes grading 41.31% KCl. The indicated potash resource is 171.8 million tonnes grading 41.37% KCl. The inferred potash resource is 545.4 million tonnes grading 41.53% KCl. The Summer 2026 drilling of the Peterson 1 Well delivered high-grade thick intervals in both the Upper and Lower Cycle 18 potash beds, confirming lateral continuity and high grades suitable for solution mining. For the Upper 18 bed, measured resources cover an area of 3.05 km2 (2.29 km2 with exclusions), with an average thickness of 7.2 m, average KCl grade of 40.73%, in-place sylvinite tonnage of 33.9 million tonnes, average carnallite content of 0.09%, and average insoluble content of 0.47%. For the Lower 18 bed, measured resources cover 3.05 km2 (2.29 km2 with exclusions), with an average thickness of 4.3 m, average KCl grade of 42.27%, in-place sylvinite tonnage of 20.4 million tonnes, average carnallite content of 0.01%, and average insoluble content of 0.42%. For the Upper 18 bed, indicated resources cover 9.64 km2 (7.23 km2 with exclusions), with an average thickness of 7.1 m, average KCl grade of 40.88%, in-place sylvinite tonnage of 106.8 million tonnes, average carnallite content of 0.09%, and average insoluble content of 0.48%. For the Lower 18 bed, indicated resources cover 9.64 km2 (7.23 km2 with exclusions), with an average thickness of 4.3 m, average KCl grade of 42.17%, in-place sylvinite tonnage of 65.0 million tonnes, average carnallite content of 0.01%, and average insoluble content of 0.42%. For the Upper 18 bed, inferred resources cover 30.56 km2 (22.92 km2 with exclusions), with an average thickness of 7.1 m, average KCl grade of 41.17%, in-place sylvinite tonnage of 336.9 million tonnes, average carnallite content of 0.09%, and average insoluble content of 0.48%. For the Lower 18 bed, inferred resources cover 30.56 km2 (22.92 km2 with exclusions), with an average thickness of 4.4 m, average KCl grade of 42.11%, in-place sylvinite tonnage of 208.5 million tonnes, average carnallite content of 0.01%, and average insoluble content of 0.42%. The total measured and indicated resource is 226.1 million tonnes, and the total resource is 771.5 million tonnes. The density of sylvinite is 2.07 tonnes/m3. The gross resource is based on a 100% extraction ratio and 0% plant loss. The measured resource radius of influence is 0-750 m, indicated is 750-2,000 m, and inferred is 2,000-4,000 m. Exclusions for unknown seismic anomalies are 25% of the area due to no 3D seismic completed. The upgraded resource estimate represents a 259% increase in tonnage compared to the Preliminary Economic Assessment Technical Report dated November 6, 2025 (effective date September 8, 2025). The company will publish and file a Technical Report on Sedar+ within 45 days of this release. Next steps include advancing solution-mining engineering and process design, continued environmental study work and permitting, ongoing collaboration with regional stakeholders and local communities, and trade-off and availability studies for power, water, and transportation logistics. The company plans to summarize these facets and demonstrate financial viability in a Pre-Feasibility Study. The scientific and technical information in the release has been reviewed and approved by Eric Hemstad, PE, a Qualified Person as defined by NI 43-101 and Consulting PE at RESPEC Company, LLC, who is independent of Sage Potash. Pat Varas is CEO and Director of Sage Potash.

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