Temas Commences Valuable Re-Assay Program at La Blache

Executive Summary

• Temas Resources will re‑assay 36,614 m of historic drill core from its La Blache project to accelerate development and avoid an estimated US$40 million in future drilling costs.
• The re‑analysis targets additional critical metals (gallium, scandium, chromium) and supports a re‑stated Scoping Study / Preliminary Economic Assessment that could add ~30 Mt of Measured & Indicated TiO₂ resources plus new payable REE credits.
• Results are expected to begin arriving in March–April 2026, feeding into the company’s patented Regenerative Chloride Leach (RCL) technology platform and informing upcoming resource estimates, metallurgical test work, and economic studies.

Key Details

• Historic Core Re‑evaluation: 181 historic holes totaling 36,614 m will be re‑logged and shipped to ALS Laboratories for whole‑rock and trace‑metal fusion assays (Fe, Ti, V, plus REEs).
• Cost & Time Savings: Avoidance of new drilling is projected to save ≈ US$40 million and several years of development time.
• Potential New Metals: Preliminary data suggest the presence of gallium, scandium, chromium alongside existing Ti‑V‑Fe mineralisation.
• Resource Impact: Anticipated addition of ~30 Mt of Measured & Indicated TiO₂ resource and inclusion of REE credits in a re‑stated Scoping Study under JORC guidelines.
• RCL Technology Integration: Re‑assayed material will be used to further develop Temas’ Regenerative Chloride Leach (RCL) process, targeting up to 65 % cost reductions and enhanced recovery of critical metals.
• Assay Timeline: Sample shipment to ALS in Montreal has commenced; initial assay results expected March–April 2026, with progressive releases thereafter.
• Management Comments: CEO Tim Fernback highlighted the strategic value of re‑using historic core to accelerate path to a new Mineral Resource Estimate, Scoping Study, PFS and full Feasibility Study. COO David Caldwell emphasized the multi‑element potential (Ga, Sc, Cr) for expanding revenue streams.
• Resource Summary (Current):
• Hervieux West – Measured & Indicated: 19.47 Mt @ 18.8 % TiO₂, 0.46 % V₂O₅, 62.88 % Fe₂O₃.
• Hervieux East – Measured & Indicated: 12.80 Mt @ 18.48 % TiO₂, 0.43 % V₂O₅, 62.94 % Fe₂O₃.
• Farrell Taylor – Inferred: 108.8 Mt @ 17.83 % TiO₂, 0.32 % V₂O₅, 59.20 % Fe₂O₃. (Figures from corporate presentation dated 18‑Feb‑2026.)

Notable Quotes

• Tim Fernback, President & CEO: “By incurring the cost to re‑assay this previously drilled core… we will save the company over $40 million through avoidance of future drilling costs… and materially reduce our development time by several years.”
• David Caldwell, COO: “Early observations of Gallium and Scandium alongside Titanium and Vanadium broaden potential revenue streams and provide additional datasets to inform our RCL advancement.”