Volta Metals starts phase 2 winter drilling at Springer

Executive Summary

• Volta Metals Ltd. has commenced its fully financed, second-phase winter drill program at the Springer rare-earth deposit in Ontario, Canada, aiming to expand known mineralization and advance the project toward a development path.
• Phase 1 drilling results confirmed continuous rare-earth element (REE) mineralization extending below the 2012 historical resource estimate shell, with high-grade intersections including significant heavy rare-earth elements (HREOs) like dysprosium and terbium.
• The Phase 2 program consists of 16 diamond drill holes totaling approximately 5,750 meters, scheduled for completion in Q1 2026, with objectives to infill historic drilling, expand mineralization along strike and depth, and collect data for a planned preliminary economic assessment.

Key Details

• Phase 2 Drill Plan:
  • 16 diamond drill holes totaling approximately 5,750 meters.
  • Individual holes expected to range between 300 m and 400 m.
  • Scheduled for completion in Q1 2026.
  • Objectives: Infill historic drilling to 50 m spacing, expand mineralization along strike and to depth, and collect geotechnical/geometallurgical data for a preliminary economic assessment in 2026.
• Phase 1 Drill Results (Completed Sept 2025):
  • 4 diamond drill holes totaling 1,638 meters.
  • All boreholes intersected continuous REE mineralization.
  • Mineralized intervals ranged from 283 m to 438 m in thickness.
  • Total Rare Earth Oxides (TREO) grades ranged from 0.65% to 0.95%.
  • Mineralization confirmed to extend below the 2012 mineral resource estimate shell.
  • Heavy Rare Earth Oxides (HREO) constitute an average of 10.9% of the TREO basket value.
• Significant High-Grade Intersection:
  • Borehole SL25-24 returned an interval averaging 184.04 grams per tonne (g/t) Dy2O3 + Tb2O3 over 27.1 meters (from 124.4 m to 151.5 m).
  • Breakdown: 157.82 g/t Dy2O3 and 26.22 g/t Tb2O3.
  • Dysprosium (Dy) and Terbium (Tb) are critical for high-performance permanent magnets (EVs, wind turbines).
  • Spot prices cited (Shanghai Metals Market, Dec 3, 2025): Dy oxide ~$180,000/tonne; Tb oxide ~$802,000/tonne.
• Geological Interpretation:
  • Structural measurements indicate near-vertical syenite-carbonatite contacts.
  • REE-fertile syenite-carbonatite intrusion forms a steeply dipping to vertical pipe-like body.
• Historical Resource Reference (2012 Tetra Tech Wardrop):
  • Indicated Resource: 4.2 Mt at 1.14% TREO, 0.02% ThO2 (~6% HREO).
  • Inferred Resource: 12.7 Mt at 1.17% TREO, 0.01% ThO2 (~4% HREO).
  • Cut-off: 0.9% TREO.
  • Note: Historical estimate is not compliant with current CIM standards and requires verification; Volta does not treat it as a current resource.
• Exploration Targets:
  • Target 1: Springer REE deposit (low magnetic signature, high thorium anomaly).
  • Target 2: East of Lost Lake (comparable geophysical signature, high potential for additional REE mineralization).
• Project Infrastructure:
  • Located 70 km from Sudbury mining district.
  • Access via Trans-Canada Highway 17 and Provincial Highway 64.
  • Railway lines 4 km south.
  • Power sources: Ontario Power Generation’s Crystal Falls dam (0.5 km north) and West Nipissing power station.
• QA/QC:
  • Samples analyzed by Activation Laboratories Ltd. using Code 8-REE assay (lithium metaborate/tetraborate fusion, ICP/MS).
  • Qualified Person: Andrew Tims, PGeo.