Mr. Al Shefsky reports

PELE MOUNTAIN ANNOUNCES COLLABORATION WITH CANMET TO ADVANCE PROCESS DEVELOPMENT AND OPTIMIZATION AT ECO RIDGE

A sample from Pele Mountain Resources Inc.'s Eco Ridge mine rare earth and uranium project has been delivered to CanmetMINING for mineralogical characterization and processing amenability evaluation as part of a rare earth minerals and metals processing research and development program. CanmetMINING, a branch of Natural Resources Canada (NRCan), is a world-class leader in the development and deployment of green mining science and technologies.

Pele president and chief executive officer Al Shefsky stated: "CanmetMINING has a long and distinguished record of supporting process development and optimization programs for the rare earth and uranium deposits in Elliot Lake, and we appreciate CanmetMINING performing this research at Eco Ridge. Although there was a proven processing circuit used in historic production that established Elliot Lake as a major source for North American heavy rare earths, innovative research performed by Pele to date has demonstrated the potential to materially improve both heavy and light rare earth recoveries beyond what was possible with historic methods while significantly mitigating environmental impact."

The NRCan website states: "A multidisciplinary research on characterization, physical separation, hydrometallurgy and environmental aspects of processing various rare earth ores has been initiated at NRCan. ... The project will provide technical and scientific support to Canadian companies in the business of developing deposits for the production of these strategic metals." The full statement regarding rare earth processing research can be found at the NRCan website.

Pele is focused on the sustainable development of Eco Ridge in Elliot Lake, Ont. Elliot Lake is home to one of Canada's great historic mining camps and offers several competitive advantages in the race to develop an early-to-market rare earth supply chain.

Elliot Lake:

• Is Canada's only proven historic critical rare earth mining camp, and it also produced more than 300 million pounds of uranium;
• Has vast and accessible critical rare earth resources, and the geology, mineralogy and pathway to production are well understood;
• Has outstanding regional infrastructure already in place including highways, railway, electricity, natural gas, airport and deepwater ports.

Pele is collaborating with all levels of government, local first nations, the private sector and academia to advance the sustainable development of Canada's first critical rare earth supply chain in Elliot Lake.

We seek Safe Harbor.