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Eastport Critical Metals Corp
Symbol EVI
Shares Issued 33,490,774
Close 2026-03-12 C$ 0.80
Market Cap C$ 26,792,619
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Eastport Critical Metals expands drill spacing at Foley

2026-03-12 22:47 ET - News Release

Mr. Burns Tennent-Bhohi reports

EASTPORT EXPANDS DRILLING PROGRAM AT FOLEY URANIUM PROJECT IN BOTSWANA FOLLOWING COMPLETION OF PHASE 1 DRILL PROGRAM

Eastport Critical Metals Corp. has provided an update on its continuing exploration activities at the Foley uranium project, located immediately north of the Letlhakane uranium deposit in Botswana's Central district, one of the largest undeveloped uranium deposits in the world.

Highlights:

  • Initial drilling fences, spanning approximately 3.5 kilometres in width, have revealed consistent radioactive anomalies that remain open ended, prompting a strategic shift to wider-spaced drilling to delineate the system's potential boundaries.
  • The company is fast-tracking phase 2 exploration by increasing drill spacing to one-kilometre centres along strike, aiming to constrain the edges of mineralization and define a district-scale exploration target.
  • Encouraging gamma logging results from the first three fences have exceeded the team's expectations, supporting accelerated efforts to explore the broader uranium-hosting potential in the shallow Karoo sediments.

Eastport's RC (reverse circulation) drilling program focuses on sampling the unconformable Karoo sediments overlying the basement, using gamma logging and hand-held spectrometers to identify uranium-bearing horizons. While the Foley project was initially targeted for uranium mineralization within paleo-channel features [ancient river-like pathways etched into the basement rocks], recent drilling has indicated a more extensive system. This evolving interpretation aligns with a uranium wash model, where mineral-rich fluids have potentially infiltrated broader sedimentary layers, similar to sheet-like dissemination observed in other regional deposits.

The completed drill fences have shown persistent gamma radiation signals across multiple holes drilled on 200-metre and 400-metre spacing. Anomalous gamma readings were measured at or above the basement contact across a 3.5-kilometre strike on both fences, suggesting the mineralization extends beyond initial assumptions without yet encountering defined edges. This has led to the decision to expand spacing in phase 2, vectoring toward a compliant exploration target once the system's lateral extents are better understood.

"These early indicators are highly motivating," said Burns Singh Tennent-Bhohi, chief executive officer of Eastport. "What started as a channel hunt now points to something much larger, similar to discovering a vast floodplain instead of a single stream. We're prioritizing edge definition to unlock Foley's full potential to accelerate the establishment of a compliant exploration target."

Foley project location

The Foley uranium project (PL113/2020) is located approximately 75 kilometres south of Francistown in the Central district of Botswana, directly abutting the Lotus Resources' licences that hosts its world-scale Letlhakane uranium deposit, one of the world's largest undeveloped uranium resources. Positioned along the proven Karoo paleochannel fairway, the project enjoys excellent infrastructure, including sealed highway access through the A14, close proximity to the national power grid, abundant groundwater for processing, and ready availability of drilling contractors, equipment and skilled labour from nearby mining hubs.

Qualified person

The information in this news release has been reviewed and approved by Liz de Klerk, PriSciNat, FIMMM, of Micon International, an independent consultant of the company and qualified person as that term is defined in National Instrument 43-101.

Assays from the initial drilling are pending, and the company cautions that gamma data alone do not confirm economic mineralization. Phase 2 drilling is scheduled to commence in Q2, and the company will provide further updates upon commencement. All exploration activities are conducted in compliance with NI 43-101 standards, with results subject to verification by qualified persons.

About Eastport Ventures Inc.

Eastport Ventures is a disruptive critical minerals development company advancing five projects in Botswana, with cumulative historical and current expenditures approaching $20-million. The company's most advanced asset is the Matsitama copper project, which hosts multiple sizable targets across the Matsitama copper district.

The company's additional projects include Selebi East, a nickel-copper-cobalt project located seven kilometres east of the historic Selebi Mines; the Semarule rare earth elements project, positioned within the Gaborone-Molepolole corridor; the Foley uranium project, adjoining the Letlhakane uranium deposit; and the Keng project, which targets nickel, copper and platinum group elements on the northern margin of the Molopo Farms complex.

Botswana is widely regarded as one of Africa's strongest mining jurisdictions, combining the continent's highest GDP (gross domestic product per capita with a 50-year record of large-scale mineral development since the Orapa diamond discovery in 1967. The country ranks among the top performers globally on the Fraser Institute's Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on the Policy Perception Index. These rankings reflect Botswana's stable regulatory environment, consistent rule of law and long-standing support for responsible mineral development -- factors that have underpinned significant investment and major M&A (merger and acquisition) activity in the natural resources sector in recent years.

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