PMET signs deal to acquire Pikwa from Azimut, Soquem

Mr. Kenneth Brinsden reports PMET RESOURCES TO EXPAND LAND POSITION IN JAMES BAY REGION PMET Resources Inc. has entered into a definitive agreement to expand its land position immediately west of the Shaakichiuwaanaan property through the acquisition of the Pikwa property, located in the James Bay region of Quebec. Pursuant to this agreement, the company will acquire a 100-per-cent interest in the Pikwa property from Azimut Exploration Inc., a mineral exploration company focused on Quebec, and Soquem Inc., a mineral exploration subsidiary arm of Investissement Quebec. The Pikwa property comprises 509 exclusive exploration rights (also known as mineral claims) covering approximately 10 kilometres of highly prospective greenstone belt trend extending immediately west of the company's flagship Shaakichiuwaanaan property. The Pikwa property hosts a geological setting with strong potential for multiple commodities over several different deposit styles, including orogenic gold, porphyry (gold, copper and silver) and LCT (lithium-cesium-tantalum) pegmatite (lithium, cesium, tantalum, gallium and rubidium). With the acquisition, the company consolidates its land position in the region and now controls over 70 kilometres of highly prospective greenstone trend, extending continuously across its Shaakichiuwaanaan, Pikwa and Pontois properties. On the Shaakichiuwaanaan property, this greenstone belt hosts numerous LCT pegmatite occurrences, including the world-class CV5 and CV13 deposits, highlighting the potential of the overall trend. Additionally, historical exploration at the Pikwa property has documented the presence of spodumene-bearing pegmatite, along with the identification of spodumene grains in till, further enhancing the potential of the Pikwa property. In addition to the strong LCT pegmatite potential, the Pikwa property hosts multiple base and precious metal targets -- which have been the focus of historical exploration -- including the Hyperion and Copperfield prospects. Darren L. Smith, executive vice-president of exploration for the company, commented: "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. The Pikwa property includes over 10 kilometres of greenstone belt, including its northern and southern margins, in addition to numerous base and precious metal prospects where historical work has been focused. We look forward to integrating the Pikwa property into our 2026 exploration programs in the region." Terms of the acquisition Pursuant to a property purchase agreement dated Nov. 11, 2025, the company has agreed to acquire a 100-per-cent interest in the Pikwa property from Azimut Exploration and Soquem for the following consideration: An aggregate of 841,916 common shares in the capital of the company at a deemed issue price of $3.68 per share to be issued equally to each of Azimut and Soquem upon closing of the acquisition; A 1-per-cent net smelter return (NSR) royalty interest in the Pikwa property granted to Azimut; A 1-per-cent NSR royalty interest in the Pikwa property granted to Soquem. The completion of the acquisition is subject to customary closing conditions for a transaction of this nature, including obtaining the approval of the Toronto Stock Exchange, obtaining all necessary consents and the absence of material adverse change occurring in respect of the Pikwa property. The PMET shares to be issued on closing will be subject to a statutory hold period expiring four months and one day following closing as well as additional contractual resale restrictions expiring 12 months after closing with respect to 35 per cent of the PMET shares and expiring 24 months after closing with respect to the remaining 65 per cent of the PMET shares, with some exceptions for early disposal where the price of PMET's common shares reaches certain thresholds. No finders' fees or commissions were paid in connection with the acquisition. 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 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 million tonnes at 1.26 per cent Li2O (lithium oxide) (probable). The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to approximately 800,000 tonnes of spodumene concentrate per annum using a simple DMS-only (dense media separation) process flow sheet. Further, the results highlight Shaakichiuwaanan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and cesium in addition to lithium. The project hosts a consolidated mineral resource totalling 108.0 million tonnes at 1.40 per cent Li2O and 166 parts per million Ta2O5 (tantalum pentoxide) (indicated) and 33.4 million tonnes at 1.33 per cent Li2O and 155 ppm Ta2O5 (inferred) and ranks as the largest lithium pegmatite resource in the Americas and in the top ten globally. Additionally, the project hosts the world's largest pollucite-hosted cesium pegmatite mineral resource at the Rigel and Vega zones with 690,000 tonnes at 4.40 per cent Cs2O (cesium oxide) (indicated) and 1.70 million tonnes at 2.40 per cent Cs2O (inferred). Qualified persons 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 Darren L. Smith, 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. 01968) and with the Association of Professional Engineers and Geoscientists of Alberta (member No. 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 and holds common shares, restricted share units (RSUs), and performance share units (PSUs) in the company. The information in this news release that relates to the 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 and options in the company. 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 dated Oct. 20, 2025 (Montreal time), is available on the company's website, on SEDAR+ and on the Australian Securities Exchange's website. 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 and forecast financial information 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 Rule 5.8 in market announcements dated July 20, 2025 (Montreal time), and Oct. 20, 2025 (Montreal time), which are available on the company's website, on SEDAR+ and on the ASX's website. 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 affect the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the 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. We seek Safe Harbor.