PMET Conducts Large Scale Caesium Sampling Program at CV13 Collection of pollucite pegmatite samples at scale supports ongoing development studies including further concentrate recovery and downstream caesium chemical testwork
September 8, 2026 – Montreal, QC, Canada 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.
PMET Resources Inc.
Suite 900 - 1801 McGill College, Montreal, Qc, Canada, H3A 1Z4 www.pmet.ca / TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA Figure 1: (TOP) Shallow coring drill rig set-up directly on top of pollucite pegmatite outcrop at the CV13 Vega Zone, where previous channel sampling returned 3.0 m at 9.43% Cs2O (see news release dated April 9, 2025); (BOTTOM) Interval of pollucite pegmatite drill core recovered (~30 cm x 20 cm). Core is estimated at >90% pollucite presenting as massive crystals with common spodumene/pollucite/lepidolite veining (see Table 1).
Figure 2: (TOP) Cored drill hole (~30 cm diameter) in pollucite pegmatite outcrop; (BOTTOM) Grid of cored drill holes (~30 cm diameter) in pollucite pegmatite outcrop (see Table 1). Segments between holes are jackhammered out and added to sample composite.
Figure 3: Bulk tonnage bags of pollucite pegmatite sample composites ready for shipping to the lab (see Table 1).
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.
Table 1: Estimate of abundances of any minerals observed per ASX Compliance Update 04/23.
| Figure Number | Nature of | Visual Estimates of Mineral(s) & Abundance | Expected Timing | ||
|---|---|---|---|---|---|
| Occurrence | of Assays | ||||
| Figure 1 (Top) | Massive/veined | >5% pollucite in orange area with minor amounts of lepidolite & spodumene, remainder feldspar>quartz | Mid 2027 | ||
| Figure 1 (Bottom) | Massive/veined | >90% pollucite with common spodumene/lepidolite and minor feldspar/quartz | Mid 2027 | ||
| Figure 2 (Top) | Massive/veined | >5% pollucite in orange area with minor amounts of lepidolite & spodumene, remainder feldspar>quartz | Mid 2027 | ||
| Figure 2 (Bottom) | Massive/veined | >5% pollucite in orange area with minor amounts of lepidolite & spodumene, remainder feldspar>quartz | Mid 2027 | ||
| Figure 3 | Massive/veined | ~15% pollucite, common spodumene/lepidolite, minor feldspar>quartz (LEFT); <5% pollucite, minor spodumene/lepidolite, minor feldspar>quartz (RIGHT) | Mid 2027 |
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.
Figure 4: Principal pollucite pegmatite outcrop at the Vega Zone, CV13 Pegmatite (i.e., collection site for BerryPick).
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 pollucitehosted 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 Olivier Caza-Lapointe Head, Investor Relations T: +1 (514) 913-5264 E: [email protected]
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 forwardlooking 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
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.
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 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 techniques | • Nature and quality of sampling (eg cut channels, 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 hammer, rotary air blast, auger, Bangka, sonic, etc) 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). | • Drilling is diamond drill, producing ~30 cm x 20-30 cm intervals of core for sampling. | |||
| Drill sample recovery | • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximize sample recovery and ensure representative nature of the samples. | • No RQD is completed with core collected as recovered. |
| Criteria | JORC Code explanation | Commentary | |||
| • 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 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 techniques and sample preparation | • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, 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 data and laboratory tests | • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether 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. | • N/A. No analysis has been completed. |
| Criteria | JORC Code explanation | Commentary | |||
| • 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. | |||||
| Verification of sampling and assaying | • The verification of significant intersections by either independent or alternative company 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 points | • Accuracy and quality of surveys used to locate drill 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 distribution | • Data spacing for reporting of Exploration Results. • 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 data in relation to geological structure | • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • 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. |