Wide, High-Grade Lithium Intercepts at Vega Zone, and New High-Grade Discovery at CV13

MONTREAL, Jan. 21, 2026 January 22, 2026 – Sydney, Australia

• Wide and high-grade lithium intercepts from Vega Zone infill drilling:
  • 55.0 m at 2.58% Li₂O including 29.9 m at 4.11% Li₂O (CV25-1006).
  • 24.7 m at 4.00% Li₂O including 7.0 m at 6.04% Li₂O (CV25-1017A).
  • 31.2 m at 2.07% Li₂O including 1.1 m at 7.32% Li₂O (CV25-1023).
  • 20.6 m at 3.31% Li₂O including 8.8 m at 5.02% Li₂O (CV25-1024).
  • 49.7 m at 2.08% Li₂O including 4.0 m at 5.16% Li₂O (CV25-1016).
  • 40.1 m at 1.97% Li₂O including 9.3 m at 3.66% Li₂O (CV25-948).
  • 22.1 m at 2.31% Li₂O including 9.0 m at 4.18% Li₂O (CV25-1010).
• New high-grade, near surface lithium-tantalum zone discovered ("Helios") at the CV13 Pegmatite:
  • 8.8 m at 2.97% Li₂O including 5.4 m at 4.60% Li₂O (CV25-984).
  • 6.4 m at 2.61% Li₂O including 4.1 m at 3.94% Li₂O (CV25-977).
  • 18.4 m at 1.19% Li₂O including 6.9 m at 2.49% Li₂O (CV25-986).
• High-grade lithium intercepts from Rigel Zone infill drilling:
  • 11.5 m at 2.87% Li₂O including 6.9 m at 4.40% Li₂O (CV25-919).
  • 15.0 m at 1.15% Li₂O including 7.9 m at 2.15% Li₂O (CV25-913).
• Additional well-mineralized lithium drill intercepts at the CV4 Pegmatite:
  • 15.0 m at 1.07% Li₂O (CV25-985).
  • 12.0 m at 1.42% Li₂O (CV25-1002B).
  • 7.0 m at 2.00% Li₂O (CV25-961A).
• A total of 57,024 m (245 holes) of diamond drilling was completed in 2025 with results for lithium and tantalum for the remaining 15,081 m (72 holes) reported in this announcement:
  • Core assay results for caesium are pending for CV13 with overlimit¹ analysis triggered for multiple holes, including the newly discovered Helios Zone.

Darren L. Smith, Executive Vice President Exploration, comments: "This batch of results from the 2025 drill campaign at Shaakichiuwaanaan include the best lithium intercepts reported to date from the high-grade Vega Zone and from the Property overall. The abundance of spodumene mineralization in these drill holes at Vega is among the strongest to have ever been reported globally. Moreover, discoveries beyond Vega continue to be made with the identification of a new high-grade lithium zone ("Helios") at CV13."

"Results for caesium, including multiple holes with overlimits triggered, are pending. We eagerly await these final assays and will announce results once they have all been received and compiled," added Mr. Smith.

/PRNewswire/ - PMET Resources Inc. (the "Company" or "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce lithium and tantalum assay results for all remaining holes from its extensive 2025 drill campaign at the Company's wholly-owned Shaakichiuwaanaan Property (the "Property" or "Project"), located in the Eeyou Istchee James Bay region of Quebec.

The Property hosts one of the largest pegmatite Mineral Resources² (Li, Cs, Ta) and Mineral Reserves³ (Li) in the world, situated approximately 13 km south of the regional Trans-Taiga Road and powerline infrastructure corridor, and is accessible year-round by road. The Company recently announced a robust lithium-only Feasibility Study for the CV5 Pegmatite, which outlined the Project as a potential North American critical mineral powerhouse (see news release dated October 20, 2025).

The 2025 drill campaign at the Property was expansive in nature and included testing of multiple Li-Cs-Ta ("LCT") pegmatite prospects (CV4, CV8, CV12), step-out drilling at CV5 and CV13, infill drilling at CV13, as well as sterilization (i.e., condemnation) and geomechanical drilling in support of the development at CV5 and CV13, respectively. Over the course of the campaign, which was concluded in October, a total of 57,024 m (245 holes) of diamond drilling was completed, of which, results for 41,943 m (173 holes) were reported in news release dated December 14, 2025.

Lithium and tantalum results for the remaining 15,081 m (72 holes) are reported in this announcement (see Figure 1, Figure 3, Figure 6, and Figure 7, and Table 1 through Table 4). Core assay results for caesium remain to be reported for the CV13 Pegmatite with overlimit¹ analysis triggered for multiple holes, including the newly discovered Helios Zone.

The 2025 drilling at the CV13 Pegmatite included infill and step-out holes, and geomechanical drilling in support of development. A total of 23,451 m (106 holes) were completed, of which, lithium results for the remaining 9,771 m (59 holes) are reported in this announcement (see Figure 3, Table 1, and Table 4). Core assay results for caesium remain pending for multiple holes, with a significant number of overlimits triggered, and will be reported once received and compiled.

At the Vega Zone, the strongest lithium results to date were returned from the 2025 campaign, including three (3) individual samples grading >7% Li₂O (7.71%, 7.32%, and 7.02%, see Figure 2 and Figure 4) as well as an intercept of 7.0 m at 6.04% Li₂O (Figure 5). These results include the highest-grade individual sample (7.71% Li₂O, Figure 2), and the widest interval over 6% Li₂O (7.0 m, see Figure 5) ever reported from the Property, including the high-grade Nova Zone. Further, a total of five (5) individual core samples to date have assayed over 7% Li₂O from the Property – all from the Vega Zone.

Additionally, a new shallow high-grade lithium zone has been discovered ("Helios") at the CV13 Pegmatite. Similar to Vega and Rigel, the Helios Zone also contains coincident high-grade tantalum (Table 1, Figure 3). Additionally, at Helios, significant caesium mineralization has been identified through overlimit analysis triggered for multiple holes. Core assay results for caesium will be reported once results for all holes have been received and compiled. Drill result highlights for lithium include (Figure 3).

• 55.0 m at 2.58% Li₂O including 29.9 m at 4.11% Li₂O (CV25-1006).
• 24.7 m at 4.00% Li₂O including 7.0 m at 6.04% Li₂O (CV25-1017A).
• 31.2 m at 2.07% Li₂O including 1.1 m at 7.32% Li₂O (CV25-1023).
• 20.6 m at 3.31% Li₂O including 8.8 m at 5.02% Li₂O (CV25-1024).
• 49.7 m at 2.08% Li₂O including 4.0 m at 5.16% Li₂O (CV25-1016).
• 40.1 m at 1.97% Li₂O including 9.3 m at 3.66% Li₂O (CV25-948).
• 22.1 m at 2.31% Li₂O including 9.0 m at 4.18% Li₂O (CV25-1010).

• 8.8 m at 2.97% Li₂O including 5.4 m at 4.60% Li₂O (CV25-984).
• 6.4 m at 2.61% Li₂O including 4.1 m at 3.94% Li₂O (CV25-977).
• 18.4 m at 1.19% Li₂O including 6.9 m at 2.49% Li₂O (CV25-986).

Several holes were completed as infill at the Rigel Zone during the drill campaign. The best lithium result was 11.5 m at 2.87% Li₂O including 6.9 m at 4.40% Li₂O (CV25-919). High-grade tantalum was also returned at Rigel highlighted by drill hole CV25-913, which returned 15.0 m at 1.15% Li₂O and 1,105 ppm Ta₂O₅ including 7.9 m at 2.15% Li₂O and 1,974 ppm Ta₂O₅. Core assay results for caesium will be reported once results for all holes have been received and compiled.

The CV4 Pegmatite, characterized at surface by multiple LCT pegmatite outcrops, is situated approximately 1.5 km along geological trend to the east of the CV5 Pegmatite. The 2025 campaign marked the maiden drill testing of the prospect with a total of 7,358 m (17 holes) completed, of which, results for the remaining 4,099 m (8 holes) are in this announcement (see Figure 6, Table 2, and Table 4). 

Results for the first batch of drill holes at the CV4 Pegmatite were announced on December 14, 2025 and included 27.0 m at 1.14% Li₂O (CV25-1013) and 13.0 m at 1.37% Li₂O (CV25-1013). Results for the remaining drill holes include:

• 15.0 m at 1.07% Li₂O (CV25-985).
• 12.0 m at 1.42% Li₂O (CV25-1002B).
• 7.0 m at 2.00% Li₂O (CV25-961A).

The discovery at CV4 is significant and, coupled with down-ice boulder discoveries in the area (see news release dated March 25, 2025) and observations in core, is interpreted to represent a potential 1.5 km extension of the CV5 Pegmatite to the east. As such, the discovery expands the potential for additional underground resources along strike of the current underground Mineral Reserves at the CV5 Pegmatite. The mineralization at CV4 remains open.

The CV8 Pegmatite, characterized at surface by multiple LCT pegmatite outcrops, is situated approximately 0.5 km south of the CV12 Pegmatite on a sub-parallel trend. A total of 2,523 m (11 holes) were completed, of which, results for the remaining 1,211 m (5 holes) are announced herein (see Figure 7, Table 3, and Table 4)

The best results from the 2025 program at the CV8 Pegmatite are 3.1 m at 1.52% Li₂O and 3.5 m at 1.26% Li₂O – both from drill hole CV25-940A. These intervals also returned high-grade tantalum at 321 ppm Ta₂O₅ and 295 ppm Ta₂O₅, respectively, in addition to an interval of 6.3 m at 701 ppm Ta₂O₅ in drill hole CV25-958. Further, the widest pegmatite intercepts at 20.4 m and 14.7 m – also anomalous in Li and Ta – were returned from the westernmost drill hole completed at the pegmatite, indicating good potential in this direction.

The target remains prospective and warrants further drilling given the association with ultramafic rocks proximal (often strongly associated with the widest spodumene pegmatite bodies at the Property), the large number of individual pegmatite intercepts in drill hole including three (3) greater than 9 m (indicates volume potential), and the presence of spodumene in the system (confirms a lithium content of significance is present in the system).

Results for lithium and tantalum for all drill holes completed in 2025 at Shaakichiuwaanaan have now been reported (57,024 m over 245 holes). Core assay results for caesium remain pending for 9,771 m (59 holes) at the CV13 Pegmatite, with a significant number of overlimits triggered, and will be reported once received and compiled.

The geology team is currently interpreting and working with the 2025 drill hole data to advance the host rock and pegmatite geological models for the Project. The work is focused on the CV5 and CV13 pegmatites ahead of updates that will feed into updated block models, culminating in a revised economic study scheduled for the second half of 2026. The data will also inform an underground bulk sample of mineralized pegmatite at CV5, which is currently being permitted.

Table 1: Core assay summary (lithium & tantalum) for drill holes reported herein at the CV13 Pegmatite.