Geomega Obtains Environmental Permit and Advances Strategic Demonstration Projects

• Geomega Resources obtained the environmental permit from Quebec's MELCCFP to operate its NdFeB magnet recycling demonstration plant in Saint-Hubert through December 31, 2028.
• Construction is largely on track for completion by the end of summer 2026, with major process equipment delivered and installed, piping ongoing, and control/automation systems being tested.
• The Rio Tinto bauxite residue valorization joint development project has completed its pre-feasibility study phase. A $100,000 balance payment is expected shortly, positioning the partnership for potential definitive engineering and a future demonstration plant in Saguenay.
• The integrated R&D and piloting facility is advancing, with plumbing complete and HVAC/sprinkler systems expected in June. Multi-level piloting infrastructure construction targets summer completion.
• CEO Kiril Mugerman emphasized this is the first industrial-scale operation of their process, aiming to validate environmental benefits and pave the way for commercial licensing agreements.

• The news is a routine operational update that confirms previously announced milestones. The environmental permit was expected, and construction progress aligns with the February 2026 update.
• The Rio Tinto PFS completion and impending $100,000 payment are incremental steps toward the $4.5M total potential deal announced in October 2025. No new commercial licensing or major capital raise is announced.
• The news does not change the fundamental risk/reward profile. It validates execution but does not de-risk the commercialization timeline or provide immediate revenue.
• Given the company's pre-revenue status and cash burn, this is a necessary step but not a market-moving catalyst on its own.

• Geomega Resources focuses on critical metal extraction from waste streams, specifically NdFeB magnet recycling, bauxite residue valorization, and sulphide tailings processing.
• Flagship project: The Saint-Hubert rare earth magnet recycling demonstration plant, designed to be Quebec's first facility of its kind. It aims to validate the company's hydrometallurgical process at an industrial scale.
• The company also owns the Montviel rare earth carbonatite deposit, which holds the largest 43-101 bastnaesite resource estimate in North America. Recent testwork has improved the flowsheet, eliminating flotation and fine grinding to reduce costs and environmental impact.
• Geomega holds 16.8 million shares of Auriginal Mining Corp. (AUME.V).