PMET Increases Grade and Scale of Caesium Mineral Resource at Shaakichiuwaanaan

PMET Resources Inc. announced an updated Consolidated Mineral Resource Estimate (MRE-5) for its Shaakichiuwaan Property in Quebec, dated July 10, 2026. The Caesium Zone MRE within the CV13 Pegmatite saw a 55% increase in contained caesium metal (Cs2O) to 110,600 tonnes, alongside a 31% grade increase and 18% tonnage increase. A maiden rubidium resource was declared within the Caesium Zone, with Indicated and Inferred grades of 0.46% and 0.37% Rb2O, respectively.

The consolidated lithium-tantalum resource base grew by 5% in contained metal, driven by improved tonnage and grade across the CV5, CV13, and CV4 pegmatites. High-grade lithium sensitivity analysis was provided, highlighting the Nova Zone (CV5) at 36.5 Mt at 2.04% Li2O (Indicated) and the Vega Zone (CV13) at 5.9 Mt at 2.77% Li2O (Indicated). The CV4 Pegmatite received a maiden Inferred resource of 1.75 Mt at 1.24% Li2O.

The company confirmed that an updated Feasibility Study for lithium and tantalum at CV5, and a Preliminary Economic Assessment (PEA) for the broader project, remain on schedule for release before year-end 2026.

PMET Resources Inc. (PMET) has released an updated Mineral Resource Estimate (MRE-5) that fulfills previously communicated development objectives. The update highlights a 55% increase in contained caesium metal and introduces a maiden rubidium resource, significantly expanding the multi-commodity profile of the CV13 pegmatite.

The consolidated lithium-tantalum resource grew by 5%, an incremental increase that reinforces the project's scale. High-grade lithium subsets within the Nova and Vega zones provide optionality for future underground mining or bulk sample programs.

The updated resource does not alter the project's capital expenditure profile, permitting timeline, or Final Investment Decision (FID) target of end-2027. The next critical value-inflection points are the updated Feasibility Study and Preliminary Economic Assessment (PEA), which will integrate these resource changes into economic models.

PMET's stock has declined approximately 60% from its May 2026 peak of $7.72 to the current price of $2.99. The market appears to be discounting near-term catalysts or pricing in broader lithium sector headwinds. While the resource upgrade is positive, it was expected, and the price action suggests limited immediate market-moving impact.

PMET Resources Inc. is a critical minerals developer focused on the 100%-owned Shaakichiuwaan Project in Quebec, Canada. The project hosts a Lithium-Caesium-Tantalum (LCT) pegmatite deposit, with lithium in the form of spodumene concentrate (SC5.5) as the primary commodity and caesium, tantalum, and gallium as co-products.

The CV5 pegmatite contains a maiden Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O. The company is targeting production of up to approximately 800,000 tonnes per annum of spodumene concentrate using a Dense Media Separation (DMS) process.

The project is currently in the development stage. The Environmental and Social Impact Assessment (ESIA) was submitted in March 2026, with a Final Investment Decision (FID) targeted for the end of calendar 2027 and commercial production expected in 2030.

PMET Resources is also evaluating downstream processing pathways to potentially produce battery-grade lithium carbonate on-site. These options include Primero’s ALi® atmospheric leach process and microwave-assisted electric calcination with Mitsui & MWCC.