Cotec continues Lac Jeannine feasibility and testing

Executive Summary

• Cotec Holdings Corp. has engaged BBA Inc. to lead the feasibility study for its Lac Jeannine Iron Tailings Project in Quebec, Canada, following a positive 2024 Preliminary Economic Assessment (PEA).
• The company has commenced environmental baseline studies and appointed Corem to execute a metallurgical testing program aimed at achieving a concentrate grade greater than 67% Fe, which is critical for classifying the project as a critical mineral asset.
• Management targets the release of an updated mineral resource estimate in Q1 2026, with metallurgical testing results expected to be completed in H1 2026 to support engineering design criteria.

Key Details

• Feasibility Study Partner: BBA Inc. has been onboarded to support the Lac Jeannine feasibility study; the team has completed initial site visits and baseline studies.
• Metallurgical Testing Program:
  • Contractor: Corem (Quebec City-based specialist) is conducting the testing under the program developed by BBA.
  • Objective: Target a concentrate grade of >67% Fe to support classification as a critical mineral project.
  • Technical Focus: Tests will utilize technologies to recover iron units below 75 micrometres, which are currently lost to tailings in the PEA flowsheet.
  • Sample Source: Material is sourced from the 2025 infill and expansion resource drilling program completed in August 2025.
  • Timeline: Results are expected to be completed in H1 2026.
• Environmental & Permitting: Initial environmental baseline studies have commenced, serving as a precursor to the environmental assessment and review procedure for permitting.
• Resource Estimate Update: An updated mineral resource estimate is scheduled for release in Q1 2026.
• Qualified Person: Technical information reviewed and approved by Catherine Pelletier from BBA Consultants, a Qualified Person under National Instrument 43-101.

Notable Quotes

• Julian Treger, CEO: "We are very excited about the collaboration between BBA and Corem to deliver the metallurgical testing program... We look forward to the results from the test program, together with our updated mineral resource estimate which we aim to release to the market in Q1 2026. We believe this will result in increased confidence for the Lac Jeannine project compared to its current PEA level study."