Temas Signs Letter of Intent for RCL Technology to Unlock Value at 3M Ounce Gold Project

Executive Summary

• Temas Resources entered a Letter of Intent (LOI) with private developer 1542642 B.C. Ltd. to conduct fully‑funded bench‑scale and pilot‑scale testing of its patented Regenerative Chloride Leach (RCL) technology on ore from the Revel Ridge gold‑silver project (≈3 Moz @ 6.4 g/t AuEq).
• Successful results could trigger formation of an 80/20 Temas‑controlled joint venture, with CAD 2 M initial funding from the developer, to commercialize and license RCL across Western North America for refractory gold, tailings and other complex ores.
• The LOI outlines a three‑phase roadmap (technical work, JV formation/funding, deployment) and positions RCL as a low‑cost, lower‑environmental‑impact alternative to conventional chloride or sulfide processing routes.

Key Details

• Parties: Temas Resources Corp. (ASX:TIO / CSE:TMAS) and 1542642 B.C. Ltd. (“Developer”).
• Project Target: Revel Ridge polymetallic gold‑silver deposit – estimated 3.0 Moz @ 6.4 g/t AuEq.
• Funding: Developer will bear all costs for Phase 1 (bench‑scale testing by summer 2026 and subsequent pilot‑scale work).
• Phase 1 Milestones:
• Completion of bench‑scale leach tests on Revel Ridge ore.
• Conditional progression to pilot‑scale testing upon successful bench results.
• Phase 2 – JV Formation (Indicative Terms):
• Ownership split: 80 % Temas / 20 % Developer (subject to negotiation).
• Initial capital contribution from Developer: CAD 2,000,000.
• Management committee composition – Developer appoints two members; Temas appoints three and operates the JV.
• Phase 3 – Deployment:
• JV to pursue direct RCL deployment on Western North American projects, acquire suitable assets, and establish SPVs for project development.
• RCL Technology Highlights:
• Operates at atmospheric pressure & lower temperatures vs. conventional routes.
• Closed‑loop reagent recycling → up to 65 % lower operating costs (per prior validation).
• Capable of extracting gold, silver, titanium, nickel, rare earths, PGMs and other base metals from refractory ores and tailings.
• Market Opportunity: Approximately 22 % of global gold resources are refractory; RCL offers a pathway to improve recoveries while reducing tailings liabilities.
• Future Outlook: Successful testwork provides a “clear pathway” to a Temas‑controlled commercialization vehicle focused on the growing demand for sustainable processing solutions in Western North America.

Notable Quotes

• Tim Fernback, President & CEO: “The LOI provides a clear pathway to a Temas‑controlled commercialization vehicle… where demand is growing for progressing solutions that improve recoveries, reduce tailings impacts and support permitting outcomes.”