Marketable Tantalite Concentrates Successfully Produced from the CV5 Deposit at Shaakichiuwaanaan

Core Insights - The company has successfully produced a marketable tantalite concentrate from the CV5 Pegmatite's dense media separation (DMS) waste streams, achieving grades of 8.7% Ta2O5 at 45% global recovery and 6.6% Ta2O5 at 49% global recovery, indicating strong recovery rates in line with industry peers [4][9][10] - The Shaakichiuwaanaan Project is recognized as one of the largest tantalum pegmatite mineral resources globally, with an indicated resource of 108.0 million tonnes at 166 ppm Ta2O5 and an inferred resource of 33.4 million tonnes at 155 ppm Ta2O5 [4][12][17] - The company plans to advance a follow-up testwork program to support the inclusion of tantalum as a co-product in future economic studies, enhancing the project's financial returns [3][15][17] Company Overview - PMET Resources Inc. is focused on advancing its 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, which is accessible year-round [5][28] - The project hosts significant mineral resources, including lithium, caesium, and tantalum, with ongoing metallurgical test programs evaluating recovery methods [6][72] Tantalum Market Context - Tantalum is classified as a critical and strategic mineral due to its essential applications in high-tech devices, electronics, and aerospace, with a current market price of approximately US$214/kg for refined tantalum [18][20] - The global tantalum supply is predominantly sourced from conflict-affected regions, highlighting the importance of developing stable and conflict-free sources, such as those from lithium pegmatites in Australia [20] Future Developments - The company is advancing its lithium-only feasibility study for the CV5 Pegmatite, targeted for completion in the second half of 2025, while also evaluating the economic potential of tantalum and other by-products [17][23] - An expanded testwork program is being initiated to design a tantalum recovery circuit, which is envisioned as a "bolt-on" addition that will not impact lithium recovery [15][14]