Northwire Canada EditionWednesday, October 28, 2026
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Gold 4,051.60 −0.6% Silver 53.67 −1.6% Copper 6.67 +0.3% Oil 102.78 +2.9% Palladium 1,013.80 −1.4% GGI 0.060 +0.0% BMR 0.180 +5.9% ELD 48.24 +0.4% FM 35.89 −0.5% K 32.18 −0.4% AGI 44.29 +1.3% AEM 256.08 +0.9% AGA 0.500 +0.0% BNKR 2.96 −1.7% FUSE 0.020 +0.0% TORC 0.140 +0.0% TUF 0.640 −1.5% SML 0.035 +0.0% OMM 0.045 +12.5% PMET 3.39 −1.2% LEGY 0.820 +9.3% Gold 4,051.60 −0.6% Silver 53.67 −1.6% Copper 6.67 +0.3% Oil 102.78 +2.9% Palladium 1,013.80 −1.4% GGI 0.060 +0.0% BMR 0.180 +5.9% ELD 48.24 +0.4% FM 35.89 −0.5% K 32.18 −0.4% AGI 44.29 +1.3% AEM 256.08 +0.9% AGA 0.500 +0.0% BNKR 2.96 −1.7% FUSE 0.020 +0.0% TORC 0.140 +0.0% TUF 0.640 −1.5% SML 0.035 +0.0% OMM 0.045 +12.5% PMET 3.39 −1.2% LEGY 0.820 +9.3%
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PMET Resources Announces Federal Funding of C$1.2 Million to its 100%-owned subsidiary Innova Lithium for Shaakichiuwaanaan Access Road

Federal road funding de-risks Shaakichiuwaanaan access, but catalysts remain distant.

By The Northwire Desk — AI Analysis Oct 28, 2026 · 13:08 PMET · 3.43 PMET Resources Inc.
Executive Summary

The Government of Canada, through Natural Resources Canada's First and Last Mile Fund, has approved a C$1,215,185 contribution to Innova Lithium, a 100%-owned subsidiary of PMET Resources Inc. The funds are designated for upgrading approximately 20 kilometers of the existing access road that connects the Trans-Taiga Road to the Shaakichiuwaanaan critical minerals project in Quebec.

The upgrade aims to improve road reliability and capacity to support increased mining activity and advance the project toward production. This development follows the project's inclusion in the Canada Investment Summit Prospectus, announced on Sept 14, 2026, and aligns with the company's ongoing development and permitting timeline.

Material Impact

PMET Resources Inc. (PMET) has secured C$1.2 million in infrastructure funding through the Critical Minerals Infrastructure Fund to upgrade access roads, a standard prerequisite for remote mining projects in Quebec. This development is expected and does not alter the project's economic model or valuation drivers. The amount is immaterial to the overall capital expenditure profile, which targets a Final Investment Decision by late 2027. While the funding validates the project's strategic importance to Canadian critical minerals supply chains, it does not introduce new commercial terms, offtake agreements, or financing commitments.

PMET · Price
Company Overview

PMET Resources Inc. (PMET) is a critical minerals developer focused on the 100%-owned Shaakichiuwaanaan Project in Quebec, Canada. The project is a district-scale Lithium-Caesium-Tantalum (LCT) pegmatite deposit.

The flagship CV5 Pegmatite hosts a Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O, targeting ~800 ktpa of spodumene concentrate using a Dense Media Separation (DMS) flowsheet. The CV13 Pegmatite hosts the world's largest in-situ pollucite-hosted caesium resource (0.69 Mt Indicated at 4.40% Cs2O) and significant lithium/tantalum potential.

The company is advancing an updated Feasibility Study and PEA for Q4 2026, targeting a Final Investment Decision by late 2027.

Read the original news release →

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