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PMET Resources (OTCQX: PMETF) produced approximately 4.47 tonnes of spodumene concentrate grading 6.09% Li2O (0.58% Fe2O3) from CV5 using a DMS-only pilot with an 89.0% recovery from 3.61% Li2O head-grade boulders.
The result supports a DMS-only flowsheet, provides feed for tantalum testwork, underpins an improved grade‑recovery curve (implied +2–3% recovery at 2% feed), and informs an updated Feasibility Study and broader PEA due Q4‑2026. A follow-up ‘BerryPick’ pollucite sampling program is planned.
Highlights
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1 This head-grade of feed relates to the grade of composited boulders from CV5 selected as part of Project ApplePick and is not representative of expected life-of-mine feed grade as reported in the CV5 Feasibility Study released on October 20, 2025.
Darren L. Smith, Executive Vice President Exploration, comments: “The ApplePick program further demonstrates the potential of our DMS only processing pathway and exceeded our expectations in terms of concentrate grade, quality, and tonnes produced. It is an excellent example of the team’s innovative thinking, resulting in a practical and cost-effective approach to generate sample product at scale, without significant core drilling being required.
“In addition to allowing us to be able to provide substantial quantities of spodumene concentrate from our Shaakichiuwaanaan Project to support our offtake and midstream initiatives, ApplePick has also provided us with significant quantities of tailings material feed to support our Feasibility-level tantalum recovery testwork programs,” added Mr. Smith.
PMET Resources Inc. (the “Company” or “PMET”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the successful production of approximately 4.47 tonnes of high-grade (
The pilot-scale program delivered a premium
The Shaakichiuwaanaan Property hosts one of the largest pegmatite Mineral Resources2 (Li, Cs, Ta) and Mineral Reserves3 (Li) in the world, situated approximately 13 km south of the regional and all-weather Trans-Taiga Road (accessible year-round by road) and Hydro Quebec infrastructure corridor. The Company recently announced a robust lithium-only Feasibility Study for the CV5 Pegmatite, which positions the Project as a potential North American critical mineral powerhouse (see news release dated October 20, 2025).
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2 The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and
3 Probable Mineral Reserve of 84.3 Mt at
Spodumene Concentrate Production (Project ApplePick)
In the second half of 2025, the Company devised a novel approach to cost-effectively produce further quantities of spodumene concentrate from Shaakichiuwaanaan using a pilot scale DMS processing facility, to satisfy third-party sample requests and support its own midstream lithium processing development initiatives. The program, termed “ApplePick“, utilized the collection of well mineralized spodumene pegmatite boulders situated immediately down-ice of the principal CV5 outcrop that were readily accessible via all-season road and access trails. Based on the boulders’ location, size, and angularity, the source was concluded to be from the immediately adjacent CV5 Pegmatite Deposit, and most likely the principal outcrop.
Approximately 9.5 tonnes of mineralized boulders were collected at the site via backhoe and transported, via all-season road, to the Company’s mobile crusher located adjacent to camp (Figure 1, Figure 2, and Figure 3). The boulders were crushed to roughly fist size (~10 cm) and placed directly into bulk bags via the crusher’s conveyor (Figure 4 and Figure 5). The bulk bags were shipped to SGS Canada’s
The DMS pilot produced approximately 4.47 tonnes of high-grade
Shaakichiuwaanaan Project Benefits
The program produced significantly more concentrate than expected, in part due to the high head-grade (
Considering the tenor of the high-grade Nova (CV5) and
Additionally, the program has provided the Company with significant quantities of spodumene concentrate to facilitate future offtake discussions and midstream initiatives. The availability of concentrate samples (especially for DMS-only processing) for technical evaluation is a valuable component in the development of a spodumene pegmatite project as it provides a tangible basis for engagement with potential partners and offtake counterparties, as well as providing feed for midstream evaluation.
Another benefit stemming from the ApplePick program is that the scale of the DMS pilot allowed a significant quantity of tailings material to be generated. As is typically the case with lithium pegmatites, the tailings material normally hosts most of the tantalum and needs to be processed separately to be recovered. The Company is currently completing a feasibility-level tantalum recovery program at SGS (
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4 See Feasibility Study news release dated October 20, 2025.
Pollucite Concentrate Product (Project BerryPick)
In light of the success of the ApplePick program, the Company is currently evaluating options for collecting a larger surface sample of pollucite pegmatite (caesium) at the Property. This project, named ‘BerryPick’ would aim to serve a similar purpose to ApplePick, by enabling the production of a larger volume of pollucite concentrate (i.e., several hundred kilograms to one tonne) samples to support future offtake discussions as well as midstream/downstream caesium product evaluation.
The BerryPick Project is in the early stages of planning with locations at CV13 and CV12 (please refer to Figure 1 below) being targeted, where pollucite has been mapped at surface and strong grades have been documented5 in channel sampling. Pollucite occurrences are very rare and are typically significantly smaller than lithium pegmatite occurrences, making sample collection at scale more challenging but also of high value. In contrast to most projects, at Shaakichiuwaanaan, several surface sample occurrences provide a strong target for a larger surface sampling program, such as that envisaged by BerryPick.
Additionally, XRT ore sorting using a different/larger size fraction will aid in the development and final design of the pollucite recovery flowsheet design.
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5 See news releases dated March 2 and April 9, 2025.
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
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
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
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
The Project hosts a Consolidated Mineral Resource7 totalling 108.0 Mt at
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.
This news release has been approved by
“KEN BRINSDEN”
Kenneth Brinsden, President, CEO, & Managing Director
___________________________________
6 See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is
7 The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and
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 “potential”, “pathway”, “plan”, “further supports”, “future”, “can be achieved”, “expected”, “upcoming”, “intends”, “targeting”, “development”, “completing”, “aim” 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 ability (i) of the ApplePick approach to allow for the rapid and cost-effective generation of spodumene concentrate on a larger scale without drilling to further supports the Company’s future lithium offtake and midstream product initiatives, (ii) to complete the Feasibility-level tantalum recovery program, (iii) to achieve stronger recoveries, (iv) to positively impact the results of the upcoming updated Feasibility Study for the CV5 Pegmatite, as well as a Preliminary Economic Assessment for the broader Project. (v) of the BerryPick program to target surface pollucite samples for larger scale pilot testwork, 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 (
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 (
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
Drilling techniques
Drill sample recovery
Logging
Sub-sampling techniques and sample preparation
Quality of assay data and laboratory tests
Verification of sampling and assaying
Location of data points
Data spacing and distribution
Orientation of data in relation to geological structure
Sample security
Audits or reviews
Section 2 – Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
Exploration done by other parties
Geology
Drill hole Information
Data aggregation methods
Relationship between mineralization widths and intercept lengths
Diagrams
Balanced reporting
Other substantive exploration data
Further work
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SOURCE PMET Resources Inc.
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