PMET signs deal to acquire Pikwa from Azimut, Soquem

Executive Summary

• PMET Resources Inc. entered a definitive agreement to acquire 100 % of the Pikwa property in Quebec, adding ~10 km of greenstone belt and extending its contiguous landholdings to over 70 km across Shaakichiuwaanaan, Pikwa and Pontois properties.
• Consideration consists of 841,916 common shares at a deemed $3.68 per share (issued equally to Azimut Exploration Inc. and Soquem Inc.) plus a 1 % NSR royalty to each seller.
• The acquisition brings additional LCT pegmatite potential, historic spodumene occurrences, and base‑/precious‑metal targets (Hyperion, Copperfield) into PMET’s 2026 exploration program.

Key Details

• Property Acquired: Pikwa property – 509 exclusive mineral claims covering ~10 km of a highly prospective greenstone belt west of the Shaakichiuwaanaan flagship.
• Commodity Potential: Orogenic gold, porphyry (gold, copper, silver), and LCT pegmatite (lithium, cesium, tantalum, gallium, rubidium). Historical work shows spodumene‑bearing pegmatite and spodumene grains in till.
• Land Position Post‑Acquisition: Over 70 km of contiguous greenstone trend across Shaakichiuwaanaan, Pikwa and Pontois properties.
• Consideration:
• 841,916 PMET common shares (deemed $3.68 per share) – split equally between Azimut Exploration Inc. and Soquem Inc.
• 1 % net smelter return (NSR) royalty to each seller on the Pikwa property.
• Closing Conditions: TSX approval, required consents, no material adverse change; statutory hold period of 4 months + 1 day on issued shares, with additional resale restrictions (35 % for 12 months, 65 % for 24 months) subject to price thresholds.
• No Finder’s Fees/Commissions were paid in connection with the transaction.
• Executive Comment: Darren L. Smith (EVP Exploration) highlighted strategic consolidation of “one of the most prospective LCT pegmatite trends globally” and integration into 2026 exploration plans.
• Related Prior Announcements:
• Positive lithium‑only feasibility study on CV5 pegmatite (Oct 20 2025).
• Maiden mineral reserve: 84.3 Mt at 1.26 % Li₂O (probable).
• Consolidated resource: 108 Mt @ 1.40 % Li₂O & 166 ppm Ta₂O₅ (indicated) plus additional inferred resources.

Notable Quotes

“The acquisition of the Pikwa property is a strategic addition to our significant landholdings in the region and consolidates some of the most prospective LCT pegmatite trend globally.” – Darren L. Smith, Executive Vice‑President of Exploration, PMET Resources.