Mr. Kenneth Brinsden reports

PMET SIGNS LETTER OF INTENT WITH MATAGAMI FOR SPODUMENE CONCENTRATE TRANSSHIPMENT TO THE RAIL NETWORK

PMET Resources Inc. has signed a letter of intent with the City of Matagami for transshipment services to support the company's Shaakichiuwaanaan project in Quebec.

Under the planned transportation arrangement, spodumene concentrate would be trucked from Shaakichiuwaanaan to Matagami's existing transshipment yard, where it would be transferred to rail for onward transportation to port. The LOI establishes the principles for infrastructure upgrades and operating arrangements required to support this activity, advancing an important component of the project's planned logistics chain.

The parties intend to finalize a definitive commercial agreement before the company announces a final investment decision for Shaakichiuwaanaan. Infrastructure contributions, service pricing and detailed operating arrangements remain subject to further negotiation and agreement between the parties.

About PMET Resources Inc.

PMET Resources is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100-per-cent-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 million tonnes at 1.26 per cent lithium oxide (probable). The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to approximately 800,000 tonnes per year spodumene concentrate using a simple dense-media-separation-only-process flow sheet. Further, the results highlight Shaakichiuwaanaan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and cesium in addition to lithium.

The project hosts a consolidated mineral resource totalling 108.0 Mt at 1.40 per cent Li2O and 166 parts per million Ta2O5 (indicated) and 33.4 Mt at 1.33 per cent Li2O and 155 ppm Ta2O5 (inferred), and ranks as a top-10 lithium pegmatite globally in size. Additionally, the project hosts the world's largest pollucite-hosted cesium pegmatite mineral resource at the Rigel and Vega zones with 690,000 tonnes at 4.40 per cent Cs2O (indicated) and 1.70 Mt at 2.40 per cent Cs2O (inferred).

Qualified/competent person

The technical and scientific information in this news release that relates to the mineral resource estimate for the company's properties is based on, and fairly represents, information compiled by Darren L. Smith, MSc, PGeo, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and a member in good standing with the Ordre des Geologues du Quebec (geologist permit No. 01968) and with the Association of Professional Engineers and Geoscientists of Alberta (member No. 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, and holds common shares, restricted share units, performance share units 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 Frederic Mercier-Langevin, ing, MSc, who is a qualified person as defined by National Instrument 43-101 and a member in good standing with the Ordre des Ingenieurs du Quebec. 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, and holds common shares, RSUs, PSUs and options in the company.

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