Temas Provides a Shareholder Update on its Fiscal Year and Business Activities Since its October 2025 ASX IPO

Executive Summary

• Completed ASX listing and raised A$11 million in Q4 2025 financing.
• Acquired the remaining 50 % of ORF Technologies Ltd, giving Temas 100 % ownership of its patented Regenerative Chloride Leaching (RCL) technology.
• Reported CAD 2.8 million exploration spend in Q4 2025, a 2,300 m drill program at La Blache and re‑assaying of ~36,000 m historic core to expand the resource.
• Cash on hand CAD 4.7 million as of 31 Dec 2025; expects sufficient capital for 2026 and beyond plus a CAD 1.2 million Quebec tax credit refund.

Key Details

• Financing: A$11,000,000 raised via ASX IPO prospectus; proceeds used per prospectus with only minor variance (shift of Lac Brûlé spend to La Blache).
• Acquisition: Completed purchase of remaining 50 % of ORF Technologies Ltd, now owning all 11 RCL patents.
• Exploration: Incurred CAD 2,800,000 in Q4 2025 exploration expenditures; executed a 2,300 m drill program at La Blache and commenced assays on new core plus re‑assay of ~36,000 m historic core targeting Ga, Sc, Cr, Ti, V, Fe.
• Metallurgical Testing: CAD 166,000 spent in calendar 2025 on RCL metallurgical testing and IP development; hired additional RCL staff.
• RCL Technology Commercialization: Signed two third‑party service agreements in Q1 2026 generating first revenue from RCL testing services; formed an RCL Scientific Advisory Board; secured a lab location near Toronto for client services and scale‑up work.
• Pilot Results (La Blache): Produced commercial‑grade TiO₂ at 99.8 % purity; demonstrated >65 % operating cost reduction vs conventional processing; achieved ~80–85 % Ti recovery and ~95 % Fe recovery.
• Capital Structure: Outstanding warrants/options, if exercised, would provide an additional CAD 2,167,000 of capital.
• Liquidity: Cash balance CAD 4.7 million (31 Dec 2025); anticipated tax credit of CAD 1.2 million in 2026; no material variance to use‑of‑proceeds budget.
• Future Outlook: 2026 priorities include scaling RCL licensing/revenue, evaluating downstream processing partnerships, advancing La Blache and other critical mineral projects, and maintaining disciplined capital allocation.

Notable Quotes

“The fourth quarter ending December 31 2025 was a transformative one for Temas with its listing on the ASX and concurrent financing of $11 million AUD… We are encouraged by the growing level of external interest in Temas, including the initiation of research coverage by Pitt Street Research.” – Tim Fernback, President & CEO

Prepared based on the information disclosed in Temas Resources Corp. press release dated 2026‑04‑01.