Collection of pollucite pegmatite samples at scale supports ongoing development studies including further concentrate recovery and downstream caesium chemical testwork
MONTREAL, Sept. 8, 2026 /PRNewswire/ -- September 9, 2026 - Sydney, Australia
Highlights
- More than 2.5 tonnes of pollucite pegmatite collected to date from outcrop at the Vega Zone (CV13).
- Collection utilizing very large diameter drill core (~30 cm) from a grid of shallow holes (<60 cm) over mineralized outcrop offering significant advantages:
- Larger size fragments (~30 cm) and larger quantity of sample.
- Fast and low-cost collection method.
- Pollucite concentrate derived from these samples will support larger scale downstream chemical testwork programs and industry product engagement.
- The Company continues engaging with strategic caesium players downstream, including building on its existing relationship with Koch Technology Solutions for chemical processing.
- Samples of pollucite pegmatite outcrop will continue to be collected as practical through the fall, with ore sorting testwork anticipated to begin in Q4 2026.
PMET Resources Inc. (the "Company" or "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on its previously announced program targeting the collection of multiple tonne samples of pollucite pegmatite, supporting ongoing development testwork for concentrate production and downstream initiatives (collectively, the "BerryPick" program). The sample is being collected from an outcrop of the Vega Caesium Zone at the CV13 Pegmatite, where previous channel sampling returned 3.0 m at 9.43% Cs2O (see news release dated April 9, 2025).
More than 2.5 tonnes of pollucite pegmatite has been collected to date by way of an innovative shallow coring sampling program utilizing very large diameter drill core (~30 cm) from a grid of shallow holes (<60 cm) over the mineralized outcrop occurrence (Figure 1, Figure 2, Figure 3, and Figure 4). The core samples collected from the outcrop will be composited and submitted for ore sorting testwork, including geochemical analysis, which is anticipated to commence in Q4 2026. Final grades of composites will be announced with ore sorting test program results when received and compiled.
Pollucite (as described in Figure 1, Figure 2, Figure 3, and Table 1) has been determined based on visual identification, portable XRF readings on site, as well as prior sampling and geochemical assay of the outcrop (see news release dated April 9, 2025).The core samples collected from the outcrop will be composited and submitted for ore sorting testwork, including geochemical analysis, which is anticipated to commence in Q4 2026. Final grades of composites will be announced with ore sorting test program results when received and compiled. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Figure Number Nature of Visual Estimates of Mineral(s) & Abundance Expected Timing
Occurrence of Assays
Figure 1 (Top) Massive/ >5% pollucite in orange area with minor
veined amounts of Mid 2027
lepidolite & spodumene, remainder
feldspar>quartz
Figure 1 (Bottom) Massive/ >90% pollucite with common spodumene/
veined lepidolite and Mid 2027
minor feldspar/quartz
Figure 2 (Top) Massive/ >5% pollucite in orange area with minor
veined amounts of Mid 2027
lepidolite & spodumene, remainder
feldspar>quartz
Figure 2 (Bottom) Massive/ >5% pollucite in orange area with minor
veined amounts of Mid 2027
lepidolite & spodumene, remainder
feldspar>quartz
Figure 3 Massive/ ~15% pollucite, common spodumene/
veined lepidolite, minor Mid 2027
feldspar>quartz (LEFT); <5% pollucite, minor
spodumene/lepidolite, minor feldspar>quartz
(RIGHT)
Sample Collection Methodology and Testwork
The sample collection methodology undertaken in the BerryPick program offers significant advantages. It provides larger diameter samples (~30 cm) required for more advanced ore sorting testwork. Having larger size pegmatite fragments (upwards of 30 cm) is required for future feasibility level data and allows for a more accurate assessment of recovery behavior during a mining operation as the sample better approximates blasted Run of Mine material after crushing compared to drill core.
Prior testwork had been limited to NQ (4.8 cm) and HQ (6.4 cm) core sizes as this was what material size was available, which was sufficient to support initial testwork programs. The BerryPick program samples will provide much larger size fragments at greater volume suitable for feasibility level assessment.
The current sampling program methodology also avoids the alternative (and significantly more expensive) methods of collection for large-size fragments at sufficient scale (which could include blasting and/or PQ coring - 8.5 cm) to support more advanced test programs. Further, it allows for large quantities of representative pollucite concentrate sample to be generated over a much shorter time period.
The Company's primary objective of this program is to produce 500 - 1,000 kg of pollucite concentrate to support ongoing development testwork for pollucite concentrate production and downstream caesium chemical testwork. This would include potential future chemical testwork programs with Koch Technology Solutions, as the Company furthers engagement with strategic partners in the caesium industry downstream (see news releases dated April 15, 2026 and July 12, 2026).
The Company will continue to collect pollucite pegmatite samples as practical through the fall with ore sorting testwork anticipated to begin in Q4 2026 with results anticipated to be received and announced in the first half of 2027.
In addition to being one of the largest lithium-tantalum pegmatite Mineral Resources1 and lithium pegmatite Mineral Reserves2 globally, the Property also hosts the world's largest in-situ pollucite-hosted caesium pegmatite Mineral Resource, comprising 0.69 Mt at 4.40% Cs2O (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred). The CV13 Pegmatite, host to the caesium Mineral Resource, is located <3 km along trend from the CV5 Pegmatite, which is situated approximately 13 km south of the regional Trans-Taiga Road and powerline infrastructure corridor, and is accessible year-round by road.
________________________
1
Consolidated MRE (CV5 + CV13 pegmatites) totals 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated), and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), at an Li2O cut-off grade of 0.40% (open-pit), 0.60% (underground CV5), and 0.70% (underground CV13). A grade constraint of 0.50%
Cs2O was used to model the Rigel and Vega caesium zones, contained entirely within CV13, with a MRE of 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred). The Effective Date is June 20, 2025. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.
Mineral Resources are inclusive of Mineral Reserves.
(2)
Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O at the CV5 Pegmatite with a cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above 0.37% Li2O are also included in the
statement. The Effective Date is September 11, 2025. See Feasibility Study news release dated October 20, 2025.
Qualified/Competent Person
The technical and scientific information in this news release that relates to the Mineral Resource Estimate, exploration, and metallurgical results (including BerryPick as described herein) for the Company's properties is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the related technical information in this news release.
Mr. Smith is an Executive and Vice President of Exploration for PMET Resources Inc. and holds common shares, Restricted Share Units (RSUs), Performance Share Units (PSUs), and options in the Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.
The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin has reviewed and approved the related technical information in this news release.
Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.
About PMET Resources Inc.
PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and proximal to regional hydro-power infrastructure.
In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at 1.26% Li2O (Probable)3. The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation ("DMS") only process flowsheet. Further, the results highlight Shaakichiuwaanaan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and caesium in addition to lithium.
________________________
(3)
See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above 0.37% Li2O are also included in the statement. Effective Date
of September 11, 2025.
The Project hosts a Consolidated Mineral Resource4 totalling 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), and ranks as a top ten lithium pegmatite globally in size. Additionally, the Project hosts the world's largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred).
This news release has been approved by
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO, & Managing Director
Disclaimer for Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words or expressions such as "supports", "ongoing",, "continues", "building", "anticipated", "advancing", "objectives" or variations of such words or expressions and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements include, but are not limited to, statements concerning the timing of certain activities mentioned in this press release, the savings expected from the current sampling methodology program as well as the ability to to produce >500 kg to potentially >1 tonne of pollucite concentrate from the program.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the ability to obtain the required financing to bring the Project to development, the ability to make discoveries, the potential of each of tantalum, lithium and caesium, that proposed exploration work on the Property and the results therefrom will continue as expected, the accuracy of reserve and resource estimates, the classification of resources and the assumptions on which the reserve and resource estimates are based, long-term demand for lithium (spodumene), tantalum (tantalite), and caesium (pollucite) supply, and that exploration and development results continue to support management's current plans for the Property's development.
______________________
4
Consolidated MRE (CV5 + CV13 pegmatites) is reported at an Li2O cut-off grade of 0.40% (open-pit), 0.60% (underground CV5), and 0.70% (underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones, contained entirely within CV13. The Effective
Date is June 20, 2025. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.
Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Readers should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
Competent Person Statement (ASX Listing Rules)
The information in this news release that relates to the Feasibility Study ("FS") for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (Montreal time) is available on the Company's website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The production target from the Feasibility Study referred to in this news release was reported by the Company in accordance with ASX Listing Rule 5.16 on the date of the original announcement. The Company confirms that, as of the date of this news release, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed.
The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rules 5.8 and 5.9 in market announcements titled "World's Largest Pollucite-Hosted Caesium Pegmatite Deposit" dated July 20, 2025 (Montreal time) and "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (Montreal time) and are available on the Company's website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The Company confirms that, as of the date of this news release, it is not aware of any new information or data verified by the competent person that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.
Appendix 1 - JORC Code 2012 Table 1 (ASX Listing Rule 5.8.2)
Section 1 - Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling Nature and quality of sampling (eg cut channels,
techniques random chips, or specific specialized industry
standard measurement tools appropriate to the
minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc).
These examples should not be taken as limiting the
broad meaning of sampling.
Include reference to measures taken to
ensure sample representivity and the appropriate
calibration of any measurement tools or systems
used.
Aspects of
the determination of mineralization that are
Material to the Public Report.
In cases where 'industry standard'
work has been done this would be relatively simple
(eg 'reverse circulation drilling was used to obtain
1 m samples from which 3 kg was pulverized to
produce a 30 g charge for fire assay'). In other
cases more explanation may be required, such as
where there is coarse gold that has inherent
sampling problems. Unusual commodities or
mineralization types (eg submarine nodules) may
warrant disclosure of detailed information.
Pollucite pegmatite samples are collected from outcrop at the
Vega Zone using ~30 cm diameter, shallow (~30 cm) drill core
holes. Samples are collected of in-situ material and target
pollucite mineralization as indicated by visual assessment,
portable XRF readings, and prior channel sample results.
Drilling
techniques
Drill type (eg core, reverse circulation, open-hole Drilling is diamond drill, producing ~30 cm x 20-30 cm intervals
hammer, rotary air blast, auger, Bangka, sonic, etc) of core for sampling.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
Drill sample Method of recording and assessing core and chip
recovery sample recoveries and results assessed.
Measures taken to maximize
sample recovery and ensure representative nature of
the samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias may have
occurred due to preferential loss/gain of fine/
coarse material.
No RQD is completed with core collected as recovered.
Logging Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
Whether logging is
qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
The total length and percentage of
the relevant intersections logged.
Drill cores are not formally logged with only estimated modal
mineralogy assessed to guide compositing.
Sub-sampling If core, whether cut or sawn and whether quarter,
techniques and half or all core taken.
sample If non-core, whether riffled, tube sampled,
preparation rotary split, etc and whether sampled wet or dry.
For all sample
types, the nature, quality and appropriateness of
the sample preparation technique.
Quality control procedures adopted
for all sub-sampling stages to maximize
representivity of samples.
Measures taken to ensure that the sampling
is representative of the in situ material collected,
including for instance results for field duplicate/
second-half sampling.
Whether sample sizes are appropriate to the
grain size of the material being sampled.
Whole core pieces are collected and composited into bulk bags,
targeted varying grade approximations as guided by visual
assessment and portable XRF readings.
Quality of assay The nature, quality and appropriateness of the
data and assaying and laboratory procedures used and whether
laboratory tests the technique is considered partial or total.
For geophysical tools,
spectrometers, handheld XRF instruments, etc, the
parameters used in determining the analysis
including instrument make and model, reading times,
calibrations factors applied and their derivation,
etc.
Nature of
quality control procedures adopted (eg standards,
blanks, duplicates, external laboratory checks) and
whether acceptable levels of accuracy (ie lack of
bias) and precision have been established.
N/A. No analysis has been completed.
Verification of The verification of significant intersections by
sampling and either independent or alternative company
assaying personnel.
The
use of twinned holes.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
Discuss any adjustment to assay
data.
N/A. No drill results reported.
Location of data Accuracy and quality of surveys used to locate drill
points holes (collar and down-hole surveys), trenches,
mine workings and other locations used in Mineral
Resource estimation.
Specification of the grid system used.
Quality and adequacy of
topographic control.
N/A. No drill results reported.
Data spacing and Data spacing for reporting of Exploration Results.
distribution
Whether the data
spacing and distribution is sufficient to establish
the degree of geological and grade continuity
appropriate for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications
applied.
Whether
sample compositing has been applied.
Objective is bulk composite sample collection of pollucite
pegmatite from outcrop. Therefore, drill spacing is not a
consideration apart from maximizing sample collection over
targeted outcrop area.
Orientation of Whether the orientation of sampling achieves unbiased
data in relation sampling of possible structures and the extent to
to geological which this is known, considering the deposit type.
structure
If the relationship
between the drilling orientation and the orientation
of key mineralized structures is considered to have
introduced a sampling bias, this should be assessed
and reported if material.
Objective is bulk composite sample collection of pollucite
pegmatite from outcrop. Therefore, drill hole orientation is not
a consideration.
Sample security
The measures taken to ensure sample security. The composited sample(s) for testwork remain under the custody of
the Company as they remain at site.
Audits or reviews
The results of any audits or reviews of sampling A review of the sample procedures for the Company's drill
techniques and data. programs has been reviewed by several Qualified/Competent
Persons through multiple NI 43-101 technical reports completed
for the Company and deemed adequate and acceptable to industry
best practices. The most recent Technical Report includes a
review of sampling techniques and data through 2024 (drill hole
CV24-787) in a technical report titled "CV5 Pegmatite Lithium-
Only Feasibility Study NI 43-101 Technical Report,
Shaakichiuwaanaan Project" with an Effective Date of October 20,
2025, and Issue Date of November 14, 2025.
Additionally, the Company continually reviews and
evaluates its procedures in order to optimize and ensure
compliance at all levels of sample data collection and handling.
Section 2 - Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and Type, reference name/number, location and
land tenure status ownership including agreements or material
issues with third parties such as joint
ventures, partnerships, overriding
royalties, native title interests,
historical sites, wilderness or national
park and environmental settings.
The security of
the tenure held at the time of reporting
along with any known impediments to
obtaining a licence to operate in the area.
The Shaakichiuwaanaan Property (formerly called "Corvette") is comprised
of 463 Exclusive Exploration Rights ("EERs") located in the James Bay
Region of Quebec, with Lithium Innova Inc. (wholly owned subsidiary of
PMET Resources Inc.) being the registered title holder. The northern
border of the Property's primary claim block is located within
approximately 6 km to the south of the Trans-Taiga Road and powerline
infrastructure corridor. The CV5 lithium-caesium-tantalum ("LCT")
Pegmatite is accessible year-round by all-season road is situated
approximately 13.5 km south of the regional and all-weather Trans-Taiga
Road and powerline infrastructure. The CV13 LCT pegmatite is located <3
km west-southwest of CV5. The Vega Zone is located within the CV13
Pegmatite.
The Company holds 100%
interest in the Property subject to various royalty obligations
depending on original acquisition agreements. DG Resources Management
holds a 2% NSR (no buyback) on 76 claims, D.B.A. Canadian Mining House
holds a 2% NSR on 50 claims (half buyback for $2M), OR Royalties holds a
sliding scale NSR of 1.5-3.5% on precious metals, and 2% on all other
products, over 111 claims, and Azimut Exploration holds 2% NSR on 39
claims.
The Property does not
overlap any atypically sensitive environmental areas or parks, or
historical sites to the knowledge of the Company. There are no known
hinderances to operating at the Property, apart from the goose
harvesting season (typically mid-April to mid-May) where the
communities request helicopter flying not be completed, and potentially
wildfires depending on the season, scale, and location.
Claim expiry dates range from September 2026 to July
2028.
Exploration done by No previous exploration targeting LCT pegmatites has been conducted by
other parties other parties at the Project.
For a
summary of previous exploration undertaken by other parties at the
Project, please refer to the most recent NI 43-101 Technical Report.
Acknowledgment and appraisal of exploration
by other parties.
Geology The Property overlies a large portion of the Lac Guyer Greenstone Belt,
considered part of the larger La Grande River Greenstone Belt and is
dominated by volcanic rocks metamorphosed to amphibolite facies. The
claim block is dominantly host to rocks of the Guyer Group (amphibolite,
iron formation, intermediate to mafic volcanics, peridotite, pyroxenite,
komatiite, as well as felsic volcanics). The amphibolite rocks that
trend east-west (generally steeply south dipping) through this region
are bordered to the north by the Magin Formation (conglomerate and
wacke) and to the south by an assemblage of tonalite, granodiorite, and
diorite, in addition to metasediments of the Marbot Group (conglomerate,
wacke). Several regional-scale Proterozoic gabbroic dykes also cut
through portions of the Property (Lac Spirt Dykes, Senneterre Dykes).
The geological setting is prospective
for multiple commodities over several different deposit styles including
orogenic gold (Au), volcanogenic massive sulphide (Cu, Au, Ag),
komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and LCT pegmatite (Li,
Cs, Ta, Ga, Rb).
Exploration of the
Property has outlined three primary mineral exploration trends crossing
dominantly east-west over large portions of the Property - Golden Trend
(gold), Maven Trend (copper, gold, silver), and CV Trend (lithium,
caesium, tantalum). The CV4, CV5, and CV13 pegmatites are situated
within the CV Trend.
The pegmatites
at Shaakichiuwaanaan are categorized as Li-Cs-Ta ("LCT") pegmatites.
LCT mineralization at the Property is observed to occur within quartz-
feldspar pegmatite. The pegmatite is often very coarse-grained and off-
white in appearance, with darker sections commonly composed of mica and
smoky quartz, and occasional tourmaline.
Core assays and ongoing mineralogical studies, coupled with field
mineral identification and assays confirm spodumene as the dominant
lithium-bearing mineral on the Property, with no significant petalite,
lepidolite, lithium-phosphate minerals, or apatite present. The
spodumene crystal size of the pegmatites is typically decimeter scale,
and therefore, very large. The pegmatites also carry significant
tantalum (tantalite) and caesium (pollucite). Gallium is present in
spodumene and feldspar via substitution with Al.
Deposit type, geological setting and style
of mineralization.
Drill hole Information A summary of all information material to the
understanding of the exploration results
including a tabulation of the following
information for all Material drill holes:
easting and northing of the drill hole
collar
elevation or RL (Reduced Level -
elevation above sea level in metres) of the
drill hole collar
dip and azimuth of the
hole
down hole length and interception
depth
hole length.
If
the exclusion of this information is
justified on the basis that the information
is not Material and this exclusion does not
detract from the understanding of the
report, the Competent Person should clearly
explain why this is the case.
Objective is bulk composite sample collection of pollucite pegmatite from
outcrop. Therefore, drill hole attributes are not of importance, but
rather a means of collection.
Data aggregation In reporting Exploration Results, weighting
methods averaging techniques, maximum and/or
minimum grade truncations (eg cutting of
high grades) and cut-off grades are
usually Material and should be stated.
Where
aggregate intercepts incorporate short
lengths of high grade results and longer
lengths of low grade results, the procedure
used for such aggregation should be stated
and some typical examples of such
aggregations should be shown in detail.
The
assumptions used for any reporting of metal
equivalent values should be clearly stated.
N/A. No drill results reported.
Relationship between These relationships are particularly
mineralization widths important in the reporting of Exploration
and intercept lengths Results.
If the geometry of the mineralization with
respect to the drill hole angle is known,
its nature should be reported.
If it is not known
and only the down hole lengths are
reported, there should be a clear statement
to this effect (eg 'down hole length, true
width not known').
N/A. No drill results reported.
Diagrams
Appropriate maps and sections (with scales) Please refer to the figures included herein as well as those posted on
and tabulations of intercepts should be the Company's website.
included for any significant discovery
being reported. These should include, but
not be limited to a plan view of drill hole
collar locations and appropriate sectional
views.
Balanced reporting
Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Reporting is balanced.
Other substantive
exploration data
Other exploration data, if meaningful and The Company is currently completing site environmental work over the CV5
material, should be reported including (but and CV13 pegmatite area. No endangered flora or fauna have been
not limited to): geological observations; documented over the Property to date, and several sites have been
geophysical survey results; geochemical identified as potentially suitable for mine infrastructure.
survey results; bulk samples - size and
The Company has completed a bathymetric survey
method of treatment; metallurgical test over the shallow glacial lake which overlies a portion of the CV5
results; bulk density, groundwater, Spodumene Pegmatite. The lake depth ranges from <2 m to approximately 18
geotechnical and rock characteristics; m, although the majority of the CV5 Spodumene Pegmatite, as delineated
potential deleterious or contaminating to date, is overlain by typically <2 to 10 m of water.
substances.
The Company has completed significant metallurgical
testing comprised of HLS, DMS, and magnetic testing, which has produced
5.5+% Li2O spodumene concentrates at >70% recovery on both CV5 and CV13
pegmatite material. DMS pilots on CV5 Pegmatite material (collectively
totaling >10 tonnes), including with non-pegmatite dilution, produced
spodumene concentrates ranging in grade from 5.6% to 6.6% Li2O and
recovery from 69% to 89% results, confirming a DMS-only flowsheet is
applicable.
The Company has also
produced a marketable lithium hydroxide concentrate from CV5's spodumene
concentrate.
The Company has
produced marketable tantalite concentrates at bench-scale from the CV5
Pegmatite's DMS (spodumene) tailings fractions. The testwork used
gravity or gravity + flotation methods to produce tantalite concentrates
grading 8.7% Ta2O5 at 45% global recovery (MC001) and 6.6% Ta2O5 at 49%
global recovery (MC002).
The Company
has produced marketable pollucite concentrates at bench-scale from the
CV13 Pegmatite's Vega Caesium Zone. The testwork used XRT ore sorting to
produce concentrates of 11.5% Cs2O and 20.0% Cs2O at an overall 88%
recovery.
The Company has
demonstrated efficient extraction of caesium from pollucite concentrates
(12% Cs2O) with >97% recovery.
Various mandates required for advancing the Project have been completed
or are ongoing, including but not limited to, environmental baseline,
metallurgy, geomechanics, hydrogeology, hydrology, stakeholder
engagement, geochemical characterization, as well as transportation and
logistical studies. A Feasibility Study for lithium-only on the CV5
Pegmatite was announced October 20, 2025.
Further work
The nature and scale of planned further work The Company intends to continue drilling the pegmatites of the
(eg tests for lateral extensions or depth Shaakichiuwaanaan Property, primarily targetting lithium, caesium, and
extensions or large-scale step-out tantalum as the primary commodities of interest. This is anticipated to
drilling). include step-out and infill drilling.
Diagrams clearly highlighting the areas Further drilling is anticipated to support the development of the CV5
of possible extensions, including the main and CV13 pegmatites (i.e., resource, geotechnical, geomechanical, and
geological interpretations and future hydrogeological).
Metallurgical test
drilling areas, provided this information programs evaluating the recovery of lithium, caesium, and tantalum are
is not commercially sensitive. ongoing.
Surface prospecting, rock
sampling, and mapping is planned to continue across the Property focused
on LCT pegmatite.
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SOURCE PMET Resources Inc.
Olivier Caza-Lapointe, Head, Investor Relations, T: +1 (514) 913-5264, E: ocazalapointe@pmet.ca