Eastport Confirms REE-Mineral Discovery, Supporting Potential For Large-Scale REE Deposit, with SEM007 Intersecting 347m at 0.20% TREO

Eastport Critical Metals Corp. (EVI) has released assay results for two additional Phase 1 diamond drill holes at its Semarule Rare Earth Element (REE) project in Botswana, alongside a restatement of previously reported data for hole SEM005. The company stated that the three Phase 1 holes now reported confirm continuous mineralization over hundreds of meters across a approximately 5km x 3km (~15km²) syenite complex. The mineralization is hosted in altered mafic syenite, with mineralogical studies and metallurgical test work pending. Phase 2 drilling is planned to test for near-surface versus depth grade variability.

Assays were completed by SGS South Africa using ICP90A/IMS90A methods, with Nicholas O'Reilly serving as the Qualified Person. Historical drilling by BGI is cited for context but is noted as non-43-101 compliant.

Key drill intercepts include:

• SEM007: 347m at 0.20% TREO from surface (1m to 347.6m), including 14.5m at 0.47% TREO from 110.97m.
• SEM007 breakdown of the 347m: LREO 0.16%, HREO 0.03%, MREO 0.06%; MREO ~29% of TREO.
• SEM007 high-grade interval detail: Nd2O3+Pr6O11 1,141 ppm; Dy2O3 62 ppm; Tb4O7 15 ppm; Y2O3 216 ppm.
• SEM006: 322.5m at 0.13% TREO from 27.5m (LREO 0.11%, HREO 0.02%, MREO 0.03%; Nd+Pr 295 ppm; Dy 25 ppm; Tb 5 ppm; Y 95 ppm).
• SEM005 (previously reported Sept 14, 2026): 47.5m at 0.64% TREO from 20m within 330m at 0.21% TREO.

Eastport Critical Metals Corp. (EVI) is a grassroots explorer with a market capitalization of approximately C$18 million. The company currently generates no revenue and holds no established resource on any of its projects, relying on repeated equity raises for funding. Its working capital stands at C$1.62 million against a nine-month loss of approximately C$5.8 million, with management explicitly warning of further dilution in the MD&A. For a company at this stage, a genuine discovery hole is highly material, though the relevant discovery date for this project was September 14, not today.

The market’s reaction to the initial SEM005 result on September 14 serves as the anchor for current valuation. The stock moved only approximately +30% following that announcement, rising from C$0.42 to roughly C$0.56, before round-tripping. At C$0.55, the share price sits far below its January high of C$1.23 and near the lower half of its trading range. This indicates the market is not paying for repetition, and a genuinely superior result would be required for a positive re-rate.

The latest release is in-line on bulk grade, reporting 0.20% compared to the previous 0.21%. However, it is materially weaker on the high-grade core, reporting 0.47% over 14.5 meters versus the prior 0.64% over 47.5 meters. The release also includes a weaker hole, SEM006, which returned 0.13%. These results confirm a large system already known to the market, at a grade below the economic band, with no new dimension or metallurgical data added. The net new information is modest.

Weighted by stage and price context, this release represents incremental confirmation rather than a thesis-changing event. It neither opens a new dimension nor is it weak enough, against a non-embedded anchor, to be considered materially negative.

Eastport Critical Metals Corp. (TSXV: EVI; OTCQB: EVIIF) is a Botswana-focused critical-minerals explorer and developer that listed via a reverse takeover of Penbar Capital in November 2025. CEO Daniel Major assumed his role on July 1, 2026. The company holds six assets: the flagship Matsitama Copper project, which holds a historical non-43-101 resource of 9.9 Mt @ 0.46% Cu and is currently being re-verified to NI 43-101 standards; Selebi East (Ni-Cu-Co); Semarule (REE); Foley (uranium, adjacent to Lotus Resources' Letlhakane); Jwaneng (diamond); and Keng (Ni-Cu-PGE).

The company is pre-revenue, with cumulative historical and current expenditures approaching approximately C$20M. Funding has come from the November 2025 RTO financing of approximately C$4.3M and a February 2026 private placement of C$2M at C$0.80 per unit, which included C$1.00 warrants with a three-year term that are currently out of the money.

According to the company’s Q3-2026 filing, which is not part of today’s release, the company reported a nine-month net loss of C$5.82M and exploration spending of approximately C$2.96M. The company held C$1.82M in cash and C$1.62M in working capital with no debt. The book value per share stood at C$0.06, and the MD&A flagged the need for further financing and possible dilution.