High Recovery Caesium Concentrate Produced from Latest Metallurgical Testwork at Shaakichiuwaanaan

Executive Summary

• Bench‑scale X‑Ray Transmission (XRT) ore‑sorting testwork on the Vega Caesium Zone at the CV13 Pegmatite produced marketable pollucite concentrate with 11.9 % Cs₂O at an overall 88 % recovery.
• Two size fractions yielded high‑grade concentrates: 20.0 % Cs₂O (12.5–25 mm) and 11.5 % Cs₂O (>25 mm). Both exceed the >8‑10 % threshold for commercial downstream processing.
• The reject stream contains significant lithium (spodumene) and tantalum (tantalite), indicating a viable multi‑metal by‑product pathway; the company is planning larger‑scale testwork and evaluating incorporation of caesium as a future co‑product.

Key Details

• Test Sample: ~250 kg composite half‑core (NQ) from Vega Zone, head grade ≈2.5 % Cs₂O.
• Processing: Crushed, size‑fractionated (<12.5 mm, 12.5–25 mm, >25 mm); two larger fractions processed independently on TOMRA XRT sorter.
• Concentrate Grades & Recoveries:
• 12.5–25 mm fraction – 20.0 % Cs₂O, recovery ≈88 % (combined).

• 25 mm fraction – 11.5 % Cs₂O, recovery contributes to combined 88 %.

• Overall Result: Weighted‑average concentrate of 11.9 % Cs₂O at 88 % global recovery.
• Reject Material: Contains recoverable lithium (spodumene) and tantalum (tantalite); planned downstream dense‑media separation (DMS), gravity, and magnetic methods.
• Resource Context:
• Indicated: 693,000 t @ 4.40 % Cs₂O, 2.12 % Li₂O, 283 ppm Ta₂O₅.
• Inferred: 1,698,000 t @ 2.40 % Cs₂O, 1.81 % Li₂O, 245 ppm Ta₂O₅.
• Next Steps:
• Collect larger‑diameter core composite for expanded size‑fraction testing and circuit optimization.
• Refine XRT software parameters to improve separation efficiency.
• Conduct pilot recovery of spodumene and tantalite from reject streams.
• Engage potential end‑users and supply‑chain partners to assess economic viability of caesium as a by‑product.
• Corporate Context:
• Lithium‑only feasibility study for CV5 resource nearing completion; caesium/tantalum studies proceeding in parallel.
• Prior announcements (April 9, June 10, July 20 2025) disclosed discovery and resource estimates; this release adds the first successful metallurgical validation of a commercial‑grade pollucite concentrate.

Notable Quotes

• Darren L. Smith, EVP Exploration: “These initial testwork results confirm that Shaakichiuwaanaan’s CV13 Deposit has the potential to deliver highly marketable commercial grade pollucite concentrates using a relatively simple and cost‑effective recovery method – XRT ore sorting… creating a clear pathway to potentially unlocking multiple value streams from the Project.”

Materiality Assessment: Material – Positive (first demonstration of commercially viable caesium concentrate production, supporting future by‑product revenue potential).