MONTREAL, March 18, 2026 /PRNewswire/ - March 19, 2026 - Sydney, Australia
Highlights
- Widest caesium drill intercept recorded to date at the newly discovered Helios Zone:
- 4.9 m at 3.65%Cs2O including 1.7 m at 6.14%Cs2O (CV25-979).
- 0.5 m at 6.28%Cs2O (CV25-984).
- Strong caesium grades intersected in drill hole located outside the known mineralized zones at the CV13 Pegmatite, indicating the presence of a new mineralized lens north of the Vega Zone:
- 2.3 m at 4.65% Cs2O (CV25-999).
- A total of 57,024 m (245 holes) of drilling was completed in 2025, with results for lithium, caesium, and tantalum now reported for all drill holes:
- This release reports results from 1,176 m (7 holes) of drilling completed at the CV13 Pegmatite.
Darren L. Smith, Executive Vice President Exploration, comments: "The results conclude reporting for all drill holes from the Company's highly successful 2025 drilling campaign at Shaakichiuwaanaan, which has delivered multiple significant new discoveries and further demonstrated the globally relevant scale, grade, and multi-commodity critical mineral potential of the Property. The team continues to execute at the highest levels, as exemplified in the Company's continued exploration success and development progress.
"Current work is focused on integrating the new datasets into the Company's exploration strategy and updated geological models, which will underpin the next round of exploration and an updated Feasibility Study at CV5 incorporating a tantalum co-product, as well as a Preliminary Economic Assessment for the broader Project covering lithium, caesium, and tantalum," added Mr. Smith.
PMET Resources Inc. (the "Company" or "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to report the final assay results from its 2025 drill campaign at the Company's wholly-owned Shaakichiuwaanaan Property (the "Property" or "Project"), located in the Eeyou Istchee James Bay region of Quebec. The reported drill holes targeted caesium mineralization at the CV13 Pegmatite.
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, which hosts 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.
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1
The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.70% Li2O
(underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. Effective Date is June 20, 2025 (through CV24-787). 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.
Core assay results for caesium for the remaining 1,176 m (7 holes) from the 2025 drill campaign - all from at the CV13 Pegmatite - are reported in this announcement (see Figure 1, Table 1, and Table 2). Results for lithium and tantalum for all drill holes completed in 2025 at Shaakichiuwaanaan have been previously reported (see news releases dated December 14, 2025 and January 21, 2026). All reported widths are core length (i.e., true width not known).
Helios Caesium Zone (NEW 2025 DISCOVERY)
The Helios Caesium Zone at CV13 is a new 2025 discovery, is located near surface, has approximate dimensions of 180 m x 80 m at ~1 to ~3 m thickness, and remains open in several directions (Figure 1, Table 1, Figure 2). At Helios, initial drill hole results have confirmed high-grades of caesium including an intercept of 1.0 m at 21.52% Cs2O in drill hole CV25-975 (see news release dated February 3, 2026). Remaining drill hole results from 2025 are reported in this announcement and include the widest caesium intercept - also at strong grade - recorded to date at Helios:
- 4.9 m at 3.65% Cs2O including 1.7 m at 6.14% Cs2O (CV25-979), Figure 2.
- 0.5 m at 6.28% Cs2O (CV25-984).
- 2.6 m at 1.14% Cs2O (CV25-968).
New Discovery Indicates A Potential New Zone North of Vega
The final batch of drill core assays has resulted in the discovery of strong caesium grades located outside of the other known zones of mineralization at the CV13 Pegmatite (i.e., outside of Vega, Rigel, Helios). The intercept - 2.3 m at 4.65% Cs2O (CV25-999) - is located approximately 70 m north of the currently defined Vega Caesium Zone and is closer to surface (~45 m vertical depth), indicating the presence of a new mineralized lens (Figure 1). The Company intends to follow-up on the mineralized intercept during its 2026 drill campaign.
Next Steps
Drill results for lithium, caesium, and tantalum have now been received and reported for all drill holes completed during the 2025 campaign (57,024 m over 245 holes). The geology team is currently interpreting and working with the data to advance the host rock and pegmatite geological models for the Project. The work is focused on the CV5 and CV13 pegmatites - including the Vega, Rigel, and Helios caesium zones - ahead of updates to their respective block models and subsequent Mineral Resource Estimates.
These revised models will underpin an updated Feasibility Study for the CV5 Pegmatite with the addition of tantalum as a co-product, as well as a Preliminary Economic Assessment for the broader Project inclusive of lithium, caesium, and tantalum. The Company is also actively advancing the permitting of an underground bulk sample of mineralized pegmatite at CV5.
Table 1: Core assay summary for caesium in drill holes reported herein at the CV13 Pegmatite.
Li Cs Ta
2
2 2
O
O O
Zone Hole ID From To Interval 5
(m) (m) (m) (%) (%) (ppm)
Vega CV25-937 38.9 39.8 0.9 5.12 1.64 303
Vega CV25-941 84.5 86.0 1.5 0.21 2.78 177
Vega CV25-945 129.2 129.7 0.5 0.95 1.72 58
153.8 154.4 0.6 3.50 3.60 34
Helios CV25-968 46.4 49.0 2.6 1.68 1.14 229
Helios CV25-979 39.0 43.9 4.9 1.64 3.65 544
incl. 39.0 40.7 1.7 0.08 6.14 47
Helios CV25-984 44.2 44.7 0.5 4.15 6.28 97
North of Vega CV25-999 45.3 47.5 2.3 0.75 4.65 24
(1) All intervals are core length (i.e., true width not known given the varied drill orientations, inherent nature of pegmatite bodies, and stage of delineation) and presented for all pegmatite intervals >1% Cs2O. A 0.5% Cs2O cut-off is used to constrain the pegmatite interval.
Table 2: Attributes for drill holes reported herein at the CV13 Pegmatite.
Hole ID Substrate Total Depth
(m) Azimuth Dip Easting Northing Elevation Core Size Area
(°) (°) (m)
CV25-937 Land 173.1 170 -85 565442.2 5928367.5 405.3 HQ3 CV13
CV25-941 Land 169.9 140 -75 565709.0 5928599.6 382.3 HQ3 CV13
CV25-945 Land 215.1 295 -75 565461.9 5928558.3 387.9 HQ3 CV13
CV25-968 Land 263.2 205 -75 564777.7 5928210.4 425.9 HQ3 CV13
CV25-979 Land 80.3 200 -65 564820.9 5928193.9 426.8 NQ CV13
CV25-984 Land 94.9 20 -80 564821.8 5928196.1 427.0 NQ CV13
CV25-999 Land 179.1 65 -70 565431.0 5928780.9 390.0 HQ3 CV13
(1) Coordinate system NAD83 / UTM zone 18N; (2) All drill holes are diamond drill; (3) Azimuths and dips presented are those 'planned' and may vary off collar/downhole.
Quality Assurance / Quality Control (QAQC)
Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified/standard reference materials into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split sample duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.
All core samples collected were shipped to SGS Canada's laboratory in Val-d'Or, QC, for sample preparation (code PRP90 special) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li, Ta, and Cs) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50). Overlimits for Cs were completed at SGS Canada's laboratory in Lakefield, ON, by borate-fusion XRF (code GC_XRF76V).
About Caesium
Mineral deposits of pollucite-hosted caesium are very rare globally and represent the most fractionated component of LCT pegmatite systems, which are effectively the only known primary economic source of caesium supply. Economic deposits of caesium pegmatite are typically on a smaller scale of <10 kt to 350 kt in size compared to deposits of lithium pegmatite that typically range in the millions of tonnes in size (<10 Mt and rarely over 100 Mt).
The market for caesium compounds and metals is largely opaque because it is not publicly traded like copper or gold, but rather through bi-lateral and term contracts. Further, product prices vary depending on their contained caesium form, purity and end-product use. As an example, caesium carbonate (Cs2CO3≥99%) currently trades at more than US$200/kg (excluding VAT, Price Sourcing - Shanghai Metal Markets).
Caesium is currently supply constrained, with only limited sources supplying the global market. A discovery at the size, grade, and scale of Shaakichiuwaanaan has the potential to be a primary source of supply for global markets over the long-term. This includes existing applications for caesium in oil/gas drilling, medical imaging, emissions reduction, atomic clocks and precision GPS navigation, as well as new and potentially growing applications in the terrestrial solar panel industry. Caesium has been found to play a vital role in significantly improving next generation solar panel efficiency, stability, and life span. Additionally, the use of caesium in lithium-ion batteries to improve performance is actively being explored through use as an additive in certain cathode, anode, and electrolyte chemistries.
Qualified/Competent Person
The technical and scientific information in this news release that relates to the Mineral Resource Estimate and exploration results 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.
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.
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).
For further information, please contact us at info@pmet.ca or by calling +1 (604) 279-8709, or visit www.pmet.ca. Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.
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(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.
4The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.70% Li2O (underground CV13). A grade
constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. The Effective Date is June 20, 2025 (through drill hole CV24-787). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.
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 such as "plan", "development", "growth", "continued", "intentions", "expectations", "emerging", "evolving", "strategy", "opportunities", "anticipated", "trends", "potential", "outlook", "ability", "additional", "on track", "prospects", "viability", "estimated", "reaches", "enhancing", "strengthen", "target", "believes", "next steps" or variations of such words 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 interpretation of the results from exploration, the exploration and development potential of various zones the remaining interpretations from the 2025 drill campaign and future exploration work, including the anticipated results therefrom, the advancement of the host rock and pegmatite geological models for the Project, the bulk sample of mineralized pegmatite at CV5, which is currently being permitted, the preparation and release of an updated Feasibility Study for the CV5 Pegmatite with the addition of tantalum as a co-product, as well as a Preliminary Economic Assessment for the broader Project inclusive of lithium, caesium, and tantalum.
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 make discoveries, the potential of each of tantalum, lithium, caesium as a co-product, , the ability to complete an updated Feasibility Study for the CV5 Pegmatite with the addition of tantalum as a co-product, as well as a Preliminary Economic Assessment for the broader Project inclusive of lithium, caesium, and tantalum, 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.
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 Rule 5.8 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 techniques
Nature and quality of sampling (eg cut channels, random chips, or Core sampling protocols meet industry standard practices.
specific specialized industry standard measurement tools Core sampling is guided by lithology as determined during geological
appropriate to the minerals under investigation, such as down logging (i.e., by a geologist). All pegmatite intervals are sampled in their
hole gamma sondes, or handheld XRF instruments, etc). These entirety (half-core), regardless if spodumene mineralization is noted or not (in
examples should not be taken as limiting the broad meaning of order to ensure an unbiased sampling approach) in addition to ~1
sampling.
Include reference to to 3 m of sampling into the adjacent host rock (dependent on pegmatite
measures taken to ensure sample representivity and the interval length) to "bookend" the sampled pegmatite.
appropriate calibration of any measurement tools or systems The minimum individual sample length is typically 0.5
used.
Aspects of the m and the maximum sample length is typically 2.0
m.
determination of mineralization that are Material to the Public Targeted individual pegmatite sample lengths are 1.0 to 1.5
Report.
In cases where m.
All drill core is oriented to maximum
'industry standard' work has been done this would be relatively foliation prior to logging and sampling and is cut with a core saw into half-core
simple (eg 'reverse circulation drilling was used to obtain 1 m pieces, with one half-core collected for assay, and the other half-core
samples from which 3 kg was pulverized to produce a 30 g charge remaining in the box for reference.
Core
for fire assay'). In other cases more explanation may be samples collected from drill holes were shipped to SGS Canada's laboratory in Val-
required, such as where there is coarse gold that has inherent d'Or, QC, for sample preparation (code PRP90 special) which included drying at
sampling problems. Unusual commodities or mineralization types 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75
(eg submarine nodules) may warrant disclosure of detailed microns.
All drill core sample pulps were
information. shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were
homogenized and subsequently analysed for multi-element (including Li, Ta, and
Cs) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50). Overlimits for Cs were completed at SGS Canada's laboratory in
Lakefield, ON, by borate-fusion XRF (code GC_XRF76V).
Drilling techniques
Drill type (eg core, reverse circulation, open-hole hammer, NQ or HQ3 size core diamond drilling was completed for all holes. Core was not
rotary air blast, auger, Bangka, sonic, etc) and details (eg core oriented.
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 recovery
Method of recording and assessing core and chip sample recoveries All drill core was geotechnically logged following industry standard practices, and
and results assessed.
Measures include TCR, RQD, ISRM, and Q-Method (since mid-winter 2023). Core recovery
taken to maximize sample recovery and ensure representative typically exceeds 90%.
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.
Logging
Whether core and chip samples have been geologically and Upon receipt at the core shack, all drill core is pieced together, oriented to
geotechnically logged to a level of detail to support appropriate maximum foliation, metre marked, geotechnically logged (including structure),
Mineral Resource estimation, mining studies and metallurgical alteration logged, geologically logged, and sample logged on an individual sample
studies.
Whether logging is basis. Core box photos are also collected of all core drilled, regardless of
qualitative or quantitative in nature. Core (or costean, channel, perceived mineralization. Specific gravity measurements of pegmatite are also
etc) photography.
The total collected at systematic intervals for all pegmatite drill core using the water
length and percentage of the relevant intersections logged. immersion method, as well as select host rock drill core.
The logging is qualitative by nature, and includes estimates of
spodumene grain size, inclusions, and model mineral estimates.
These logging practices meet or exceed current industry standard
practices.
Sub-sampling
techniques and
sample preparation
If core, whether cut or sawn and whether quarter, half or all core Drill core sampling followed industry best practices. Drill core was saw-cut with
taken.
If non-core, whether half-core sent for geochemical analysis and half-core remaining in the box for
riffled, tube sampled, rotary split, etc and whether sampled wet reference. The same side of the core was sampled to maintain representativeness.
or dry.
For all sample types,
The minimum individual sample length is typically
the nature, quality and appropriateness of the sample preparation 0.5 m and the maximum sample length is typically 2.0 m. Targeted individual
technique.
Quality control pegmatite sample lengths are 1.0 to 1.5 m.
procedures adopted for all sub-sampling stages to maximize Sample sizes are considered appropriate for the material being assayed.
representivity of samples.
A Quality Assurance / Quality Control protocol following
Measures taken to ensure that the sampling is representative of industry best practices was incorporated into the program and included systematic
the in situ material collected, including for instance results insertion of quartz blanks and certified/standard reference materials into sample
for field duplicate/second-half sampling. batches at a rate of approximately 5% each. Additionally, analysis of pulp-split
Whether sample sizes are appropriate to the grain sample duplicates was completed to assess analytical precision, and external
size of the material being sampled. (secondary) laboratory pulp-split duplicates were prepared at the primary lab for
subsequent check analysis and validation.
All
protocols employed are considered appropriate for the sample type and nature of
mineralization and are considered the optimal approach for maintaining
representativeness in sampling.
Quality of assay data
and laboratory tests
The nature, quality and appropriateness of the assaying and Core samples collected from drill holes were shipped to SGS Canada's laboratory in
laboratory procedures used and whether the technique is Val-d'Or, QC, for sample preparation (code PRP90 special) which included drying
considered partial or total. at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing
For geophysical tools, spectrometers, handheld XRF instruments, 75 microns.
All drill core sample pulps were
etc, the parameters used in determining the analysis including shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were
instrument make and model, reading times, calibrations factors homogenized and subsequently analysed for multi-element (including Li, Ta, and
applied and their derivation, etc. Cs) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
Nature of quality control procedures adopted (eg standards, GE_IMS91A50). Overlimits for Cs were completed at SGS Canada's laboratory in
blanks, duplicates, external laboratory checks) and whether Lakefield, ON, by borate-fusion XRF (code GC_XRF76V).
acceptable levels of accuracy (ie lack of bias) and precision The Company relies on both its internal QAQC protocols (systematic use of
have been established. blanks, certified/standard reference materials, and external checks), as well as
the laboratory's internal QAQC.
All protocols
employed are considered appropriate for the sample type and nature of
mineralization and are considered the optimal approach for maintaining
representativeness in sampling.
Verification of
sampling and
assaying
The verification of significant intersections by either Intervals are reviewed and compiled by the EVP Exploration and Project Managers
independent or alternative company personnel. prior to disclosure, including a review of the Company's internal QAQC sample
The use of twinned holes. analytical data.
No twinned holes were
Documentation of primary data, data entry procedures, completed.
Data capture utilizes MX Deposit
data verification, data storage (physical and electronic) software whereby core logging data is entered directly into the software for
protocols.
Discuss any storage, including direct import of laboratory analytical certificates as they are
adjustment to assay data. received. The Company employs various on-site and post QAQC protocols to ensure
data integrity and accuracy.
Adjustments to
data include reporting lithium, casesium, and tantalum in their oxide forms, as it
is reported in elemental form in the assay certificates. Formulas used are Li
2
O = Li x 2.153, Ta
2
O
5
= Ta x 1.221, and Cs
2
O = Cs x 1.0602
Location of data
points
Accuracy and quality of surveys used to locate drill holes (collar Each drill hole collar has been surveyed with an RTK Trimble Zephyr
and down-hole surveys), trenches, mine workings and other 3.
The coordinate
locations used in Mineral Resource estimation. system used is UTM NAD83 Zone 18.
The Company
Specification of the grid system used. completed a property-wide LiDAR and orthophoto survey in August 2022, which
Quality and adequacy of topographic provides high-quality topographic control.
The
control. quality and accuracy of the topographic controls are considered adequate for
advanced stage exploration and development, including Mineral Resource estimation.
Data spacing and
distribution
Data spacing for reporting of Exploration Results. At CV13, drill hole spacing is a combination of grid based (at ~100 m spacing) and
Whether the data spacing and distribution is fan based with multiple holes collared from the same pad. Therefore, collar
sufficient to establish the degree of geological and grade locations and hole orientations may vary widely, which reflect the varied
continuity appropriate for the Mineral Resource and Ore Reserve orientation of the pegmatite body along strike. Pegmatite pierce points of ~50
estimation procedure(s) and classifications applied. (Indicated, Li-Ta) to 100 m (Inferred, Li-Ta) spacing are targeted.
Whether sample compositing has been applied.
Based on the nature of the mineralization and continuity in
geological modelling, the drill hole spacing is anticipated to be sufficient to
support a MRE.
Core sample lengths typically
range from 0.5 to 2.0 m and average ~1.0 to 1.5 m. Sampling is continuous within
all pegmatite encountered in the drill hole.
Core samples are not composited upon collection or for analysis.
Orientation of data
in relation to
geological structure
Whether the orientation of sampling achieves unbiased sampling of No sampling bias is anticipated based on structure within the mineralized body.
possible structures and the extent to which this is known,
The principal mineralized bodies are relatively
considering the deposit type. undeformed and very competent, although have meaningful structural control.
If the relationship between the drilling orientation and the
At CV13, the principal pegmatite body has a varied
orientation of key mineralized structures is considered to have strike and shallow northerly dip. The Rigel,
Vega, and
introduced a sampling bias, this should be assessed and reported Helios zones are hosted entirely within the CV13 Pegmatite as lenses concordant to
if material. the local pegmatite orientation.
Sample security
The measures taken to ensure sample security. Samples were collected by Company staff or its consultants following specific
protocols governing sample collection and handling. Core samples were bagged,
placed in large supersacs for added security, palleted, and shipped directly to
Val-d'Or, QC, being tracked during shipment along with Chain of Custody. Upon
arrival at the laboratory, the samples were cross-referenced with the shipping
manifest to confirm all samples were accounted for. At the laboratory, sample bags
are evaluated for tampering.
Audits or reviews
The results of any audits or reviews of sampling techniques and A review of the sample procedures for the Company's drill programs has been
data. 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 land
tenure status
Type, reference name/number, location and ownership The Shaakichiuwaanaan Property (formerly called "Corvette") is comprised of 463 CDC claims
including agreements or material issues with third located in the James Bay Region of Quebec, with Lithium Innova Inc. (wholly owned subsidiary
parties such as joint ventures, partnerships, of PMET Resources Inc.) being the registered title holder for all of the claims. The northern
overriding royalties, native title interests, border of the Property's primary claim block is located within approximately 6 km to the
historical sites, wilderness or national park and south of the Trans-Taiga Road and powerline infrastructure corridor. The CV5 Spodumene
environmental settings. Pegmatite is accessible year-round by all-season road is situated approximately 13.5 km
The security of the tenure held at the time of south of the regional and all
?
weather Trans-Taiga Road and
reporting along with any known impediments to powerline infrastructure. The CV13 and CV9 spodumene pegmatites are located approximately 3
obtaining a licence to operate in the area. km west-southwest and 14 km west of CV5, respectively.
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 July 2026 to July 2028.
Exploration done by other
parties
Acknowledgment and appraisal of exploration by other No previous exploration targeting LCT pegmatites has been conducted by other parties at the
parties. 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.
Geology
Deposit type, geological setting and style of The Property overlies a large portion of the Lac Guyer Greenstone Belt, considered part of the
mineralization. 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, CV8, CV12, 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.
Drill hole Information
A summary of all information material to the Drill hole attribute information is included in a table herein.
understanding of the exploration results including a Results for pegmatite intervals <2 m are not typically reported unless the intercept is
tabulation of the following information for all assays >1% Cs
2
O.
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.
Data aggregation methods
In reporting Exploration Results, weighting averaging Length weighted averages were used to calculate grade over width.
techniques, maximum and/or minimum grade No specific grade cap or cut-off was used during grade width calculations for lithium
truncations (eg cutting of high grades) and cut-off or tantalum. The lithium, tantalum, and caesium length weighted average grade of the entire
grades are usually Material and should be stated. pegmatite interval is calculated for all pegmatite intervals over 2 m core length, as well as
Where aggregate higher grade zones at the discretion of the geologist. Additionally, for caesium specific
intercepts incorporate short lengths of high grade zones, a general cut-off of 0.5% Cs
2
O
results and longer lengths of low grade results, the was used to calculate pegmatite intervals assaying >1% Cs
2
procedure used for such aggregation should be stated
O, which are reported when applicable.
and some typical examples of such aggregations Pegmatites have inconsistent mineralization by nature, resulting in some intervals having a
should be shown in detail. small number of poorly mineralized samples included in the calculation. Non-pegmatite
The assumptions used for any reporting of internal dilution is limited to typically <3 m where relevant and intervals indicated when
metal equivalent values should be clearly stated. assays are reported.
No metal equivalents have been
reported.
Relationship between
mineralization widths and
intercept lengths
These relationships are particularly important in the At CV13, current interpretation supports a series of sub-parallel trending sills with a flat-
reporting of Exploration Results. lying to shallow northerly dip. Within the CV13 Pegmatite body are the Rigel, Vega, and
If the geometry of the mineralization Helios zones, which follow the local trend of the wider pegmatite body.
with respect to the drill hole angle is known, its
All reported widths are core length.
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').
Diagrams
Appropriate maps and sections (with scales) and
tabulations of intercepts should be 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. Please refer to the figures included herein as well as those posted on the Company's website.
Balanced reporting
Where comprehensive reporting of all Exploration Reporting is balanced.
Please refer to the
Results is not practicable, representative reporting table(s) included herein.
Results for pegmatite intervals
of both low and high grades and/or widths should be <2 m are not typically reported. However, all intervals where Cs exceeds 1% Cs
practiced to avoid misleading reporting of 2
O are reported.
Exploration Results.
Other substantive
exploration data
Other exploration data, if meaningful and material, The Company is currently completing site environmental work over the CV5 and CV13 pegmatite
should be reported including (but not limited to): area. No endangered flora or fauna have been documented over the Property to date, and
geological observations; geophysical survey results; several sites have been identified as potentially suitable for mine infrastructure.
geochemical survey results; bulk samples - size and
The Company has completed a bathymetric survey over the shallow
method of treatment; metallurgical test results; glacial lake which overlies a portion of the CV5 Spodumene Pegmatite. The lake depth ranges
bulk density, groundwater, geotechnical and rock from <2 m to approximately 18 m, although the majority of the CV5 Spodumene Pegmatite, as
characteristics; potential deleterious or delineated to date, is overlain by typically <2 to 10 m of water.
contaminating substances. The Company has completed significant metallurgical testing comprised of HLS and
magnetic testing, which has produced 6+% Li
2
O spodumene concentrates at >70% recovery on both CV5 and CV13 pegmatite material. A DMS
test on CV5 Pegmatite material returned a Subsequent and more expansive DMS pilot programs
completed, including with non-pegmatite dilution, produced results in line with prior
testwork, 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% Ta
2
O
5
at 45% global recovery (MC001) and 6.6% Ta
2
O
5
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% Cs
2
O and 20.0% Cs
2
O at an overall 88%
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 (eg The Company intends to continue drilling the pegmatites of the Shaakichiuwaanaan Property,
tests for lateral extensions or depth extensions or primarily targetting lithium, caesium, and tantalum as the primary commodities of interest.
large-scale step-out drilling). This is anticipated to includes step-out and infill drilling.
Diagrams clearly highlighting the Further drilling is anticipated to support the development of the CV5 and CV13 pegmatites
areas of possible extensions, including the main (i.e., resource, geotechnical, geomechanical, and hydrogeological).
geological interpretations and future drilling Metallurgical test programs evaluating the recovery of lithium, caesium, and tantalum
areas, provided this information is not commercially are ongoing.
Surface prospecting, rock sampling, and
sensitive. 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