Mr. Kenneth Brinsden reports

PMET RESOURCES ANNOUNCES FEDERAL FUNDING OF C$1.2 MILLION TO ITS 100%-OWNED SUBSIDIARY INNOVA LITHIUM FOR SHAAKICHIUWAANAAN ACCESS ROAD

The government of Canada, through Natural Resources Canada's (NRCan) First and Last Mile Fund (FLMF), has approved funding of $1,215,185, to PMET Resources Inc., for the Shaakichiuwaanaan access road project. The application was approved under the Critical Minerals Infrastructure Fund (CMIF), which has been integrated into the FLMF, and is being made to Innova Lithium, a 100-per-cent-owned PMET subsidiary.

The 100-per-cent-owned access road project forms part of the infrastructure supporting the advancement of Shaakichiuwaanaan, located in the Eeyou Istchee James Bay region of Quebec. The property is accessible year-round by all-season road and is situated near regional hydroelectric power infrastructure. The purpose of the funding is to support upgrading of the access to road to support mining operations.

This funding approval complements Shaakichiuwaanaan's inclusion in the Canada investment summit prospectus, announced by PMET on Sept. 14, 2026. The prospectus highlighted selected Canadian investment opportunities for international and domestic investors. Additionally, more federal government funding tools available to the company are currently being assessed.

Highlights:

• The government of Canada, NRCan's FLMF, has approved a contribution of $1,215,185 for the Shaakichiuwaanaan access road project.
• The access road project will upgrade approximately 20 kilometers of PMET's 100-per-cent-owned access road connecting the Trans-Taiga Road to the Shaakichiuwaanaan critical minerals project in Eeyou Istchee James Bay, Quebec, improving its reliability and capacity to support increased mining activity.

Ken Brinsden, president, chief executive officer and managing director, comments: "We welcome the government of Canada's support for the Shaakichiuwaanaan access road project. Infrastructure is an important part of bringing a new mine into production and this contribution would support that work as we advance the project. Alongside Shaakichiuwaanaan's inclusion in the Canada investment summit prospectus, this is encouraging recognition of its potential to contribute to Canada's critical minerals supply chains."

Hon. Tim Hodgson, Minister of Energy and Natural Resources, comments: "Critical minerals are essential to a prosperous, secure and sustainable Canada and Quebec, and building and modernizing critical infrastructure like roads is what turns mineral deposits from potential into real projects. This investment will improve access to the Shaakichiuwaanaan lithium project, helping move a world-class resource closer to production while supporting local jobs, strengthening supply chains, and reinforcing Canada's position as a reliable supplier of the critical minerals our allies and trading partners need."

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 hydropower infrastructure.

The company is advancing Shaakichiuwaanaan as a potential source of lithium, with additional tantalum and caesium opportunities.

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 Li2O (probable) (1). The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to an approximately 800,000-tonne-per-annum spodumene concentrate using a simple DMS-only (dense media separation) 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 resource (2) totalling 108.0 million tonnes at 1.40 per cent Li2O and 166 parts per million (ppm) Ta2O5 (indicated), and 33.4 million tonnes 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 caesium pegmatite mineral resource at the Rigel and Vega zones with 690,000 tonnes at 4.40 per cent Cs2O (indicated) and 1.70 million tonnes at 2.40 per cent Cs2O (inferred).

(1) See feasibility study news release dated Oct. 20, 2025; probable mineral reserve cut-off grade is 0.40 per cent Li2O (open pit) and 0.70 per cent Li2O (underground); underground development and open-pit marginal tonnage containing material above 0.37 per cent Li2O are also included in the statement, effective date of Sept. 11, 2025.

(2) Consolidated MRE (CV5 plus CV13 pegmatites) is reported at an Li2O cut-off grade of 0.40 per cent (open pit), 0.60 per cent (underground CV5) and 0.70 per cent (underground CV13). A grade constraint of 0.50 per cent 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.

Qualified/competent person

The technical and scientific information in this news release that relates to the mineral resource estimate, exploration and metallurgical results for the company's properties is based on, and fairly represents, information compiled by Patrik T. Schmidt, 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. 02440) and with the Professional Geoscientists Ontario (member No. 3719). Mr. Schmidt has reviewed and approved the related technical information in this news release.

Mr. Schmidt is an employee for PMET Resources, 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 Frederic Mercier-Langevin, Ing, MSc, who is a qualified person as defined by NI 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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