Work Programs Commence to Unlock Tantalum as a High- Value By-Product Critical Metal Opportunity Shaakichiuwaanaan rapidly evolving into an emerging critical minerals powerhouse, with workstreams now underway on caesium, tantalum, and gallium opportunities
Patriot Battery Metals Inc.
Suite 900 - 1801, McGill College, Montreal, Qc, H3A 1Z4
www.patriotbatterymetals.com TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
Work Programs Commence to Unlock Tantalum as a High-
Value By-Product Critical Metal Opportunity
Shaakichiuwaanaan rapidly evolving into an emerging critical minerals powerhouse, with
workstreams now underway on caesium, tantalum, and gallium opportunities
June 25, 2025 – Montreal, QC, Canada June 26, 2025 – Sydney, Australia
HIGHLIGHTS
• Emerging and high -growth applications of tantalum are being driven by both
technological innovation and strategic shifts in global industries.
• Shaakichiuwaanaan ranks as a top -51 tantalum pegmatite Mineral Resource 2
globally in terms of both grade and tonnage:
o Indicated: 108.0 Mt at 1.40% Li2O, 166 ppm Ta2O5, and 66 ppm Ga.
o Inferred: 33.3 Mt at 1.33% Li2O, 156 ppm Ta2O5, and 65 ppm Ga.
• High-grade tantalum (and lithium) drill intersections include:
o 9.6 m at 0.94% Li2O and 2,307 ppm Ta2O5 (CV23-271) – CV13
o 9.5 m at 1.12% Li2O and 1,538 ppm Ta2O5 (CV24-441) – CV5
o 22.7 m at 2.79% Li2O and 972 ppm Ta2O5 (CV24-661) – CV5
o 22.9 m at 2.58% Li2O and 621 ppm Ta2O5 (CV23-181) – CV5
• Tantalite is the primary mineral host for the tantalum identified at Shaakichiuwaanaan.
• Tantalite is commercially recover ed as a by -product from multiple lithium
pegmatite operations globally using simple, well-understood, and conventional
methods – including Greenbushes, Pilgangoora, Wodgina, and Tanco.
• The Company has commenced evaluating options to advance and incorporate
the tantalum opportunity at Shaakichiuwaanaan as a potential by-product into
the overall economic development of the Project , to follow the completion of the
lithium-only Feasibility Study on the CV5 Pegmatite which remains on track for Q3 2025:
o Test programs now underway to thoroughly evaluate tantalum recovery, with ~19%
Ta2O5 tantalite concentrate produced in the initial test program.
1 Determination based on Mineral Resource data, sourced through April 11, 2025, from corporate disclosure of NI 43-101, JORC,
or equivalent regulatory body (see news release dated May 12, 2025).
2 Cut-off grade is variable depending on the mining method and pegmatite (0.40% Li 2O open-pit, 0.60% Li2O underground CV5,
and 0.70% Li2O underground CV13). The Effective Date of the MRE (announced May 2025) is January 6, 2025 (through drill hole
CV24-787). Mineral Resources are not Mineral or Ore Reserves as they do not have demonstrated economic viability.
2
Darren L. Smith, Executive Vice President Exploration, comments: “The Shaakichiuwaanaan Project
is rapidly evolving into a critical minerals powerhouse with tantalum, caesium, and gallium already identified
as significant potential by-product opportunities to a primary lithium operation . Of these opportunities,
tantalum is the most common in the industry , when grades are sufficiently high, and may be recovered
using simple and conventional processing methods with no material impact on lithium recoveries.”
“With Shaakichiuwaanaan ranking as one of the top-5 tantalum pegmatites globally in terms of grade and
tonnage, there is strong potential for tantalum to further enhance the economic and financial returns of
the Project,” added Mr. Smith.
PATRIOT BATTERY METALS INC. (THE “COMPANY” OR “PATRIOT”) (TSX: PMET) (ASX:
PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on work streams
currently underway to unlock t antalum – another important and high-value critical and strategic
metal present in abundance at its 100% -owned Shaakichiuwaanaan Property (the “Property” or
“Project”), located in the Eeyou Istchee James Bay region of Quebec . The Shaakichiuwaanaan
Mineral Resource 3, comprised of the CV5 and CV13 Li-Cs-Ta (“LCT”) pegmatites, is situated
approximately 13 km south of the regional and all ‑weather Trans -Taiga Road and powerline
infrastructure corridor, and is accessible year-round by all-season road.
The Shaakichiuwaanaan LCT pegmatites are highly evolved through the process of crystal
fractionation during formation, whereby mineral crystallization leads to progressive changes in the
chemistry of the remaining melt, resulting in increasingly rare minerals being formed as the process
unfolds. This process of LCT pegmatite formation most commonly leads to only modest
enrichment of lithium and other critical metals ; however, in rare circumstances may result in
extreme enrichment.
The Company is very fortunate that the Shaakichiuwaanaan LCT pegmatites are highly evolved ,
which has resulted in the extreme enrichment of lithium, caesium, and tantalum –
each at potentially world -class scale – as well as other potentially recoverable critical and
strategic metals (e.g., gallium). Each of these critical metals could become further value-added by-
products to the envisioned primary lithium operation at Shaakichiuwaanaan. Additional
information is provided below describing the tantalum oppor tunity and the steps being taken to
evaluate the development of this unique asset.
TANTALUM OPPORTUNITY
Tantalum, which is primarily hosted in the mineral tantalite at Shaakichiuwaanaan , ha s been
commercially recovered from LCT pegmatites historically and at active mining
operations today (e.g., Greenbushes, Pilgangoora, Wodgina, and Tanco). This potentially de -
risks the pathway to recover tantalum at Shaakichiuwaanaan.
3 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (108.0 Mt at 1.40% Li2O, 166 ppm Ta2O5 and 66 ppm Ga, Indicated,
and 33.3 Mt at 1.33% Li2O, 156 ppm Ta2O5, and 65 ppm Ga, Inferred) is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60%
Li2O (underground CV5), and 0.70% Li2O (underground CV13) with an Effective Date of January 6, 2025 (through drill hole CV24-
787). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.
3
Further bolstering this potential is the ranking of the MRE at Shaakichiuwaanaan as a top-54
tantalum pegmatite in the world in terms of both grade and tonnage (Figure 1),
highlighting the exceptional critical metal endowment present at the Project – 108.0 Mt at 1.40%
Li2O and 166 ppm Ta2O5 Indicated, and 33.3 Mt at 1.33% Li2O and 156 ppm Ta2O5 Inferred.
This equates to contained tantalum content of 23,104 tonnes (50.9 million pounds) Ta2O5.
Figure 1: MRE tonnage vs grade chart highlighting Shaakichiuwaanaan as a top-5 tantalum pegmatite
Mineral Resource globally. Mineral Resource data sourced through April 11, 2025, from corporate disclosure of NI 43-
101, JORC, or equivalent regulatory body. Deposit/Project data presented includes the total resource tonnage. Mineral resources
are presented on a 100% basis and inclusive of reserves where applicable. Data is presented for all pegmatite deposits/projects
reporting tantalum resources to the knowledge of th e Company . See Appendix 2 and 3 for further details and supporting
information.
As is common in LCT pegmatites, the tantalum mineralization is zoned within the wider pegmatite
body and often overlaps with lithium mineralization zonation. Very high-grade tantalum zones are
present within the deposit, which may overlap with high -grade lithium zones. Drill intersections
include (Table 1, Table 2):
o 9.6 m at 0.94% Li2O and 2,307 ppm Ta2O5 (CV23-271) – CV13
o 9.5 m at 1.12% Li2O and 1,538 ppm Ta2O5 (CV24-441) – CV5
o 22.7 m at 2.79% Li2O and 972 ppm Ta2O5 (CV24-661) – CV5
o 22.9 m at 2.58% Li2O and 621 ppm Ta2O5 (CV23-181) – CV5
4 Determination based on Mineral Resource data, sourced through April 11, 2025, from corporate disclosure of NI 43-101, JORC,
or equivalent regulatory body (see news release dated May 12, 2025).
4
Figure 2: Very coarse-grained tantalite crystals at ~217 m depth in drill hole CV23-109 at the CV5
Pegmatite. Core grades 1,688 ppm Ta2O5 over 0.5 m (216.5 m to 217.0 m).
PROCESS RECOVERY
At historical and active lithium pegmatite mine operations (e.g., Greenbushes, Pilgangoora,
Wodgina, and Tanco), tantalum is recovered into a mineral concentrate (typically tantalite) using
well-understood, simple, and conventional methods. At Shaakichiuwaanaan, the tantalite is
envisioned to be recovered from the lithium process waste streams using simple, conventional,
and low -cost magnetic and gravity methods (e.g., spirals). It is anticipated that t he tantalum
recovery circuit could be positioned as a “ bolt-on” to the primary lithium recovery circuit using
these waste streams as feed, with no impact on the overall lithium recovery.
The Company has active testwork programs underway at SGS Canada (Lakefield, ON, facility)
targeting tantalite recovery on both early open-pit and early underground mine-life material. Initial
results have been very encouraging with concentrate from the first lithium waste stream tested
grading ~12% to 19% Ta2O5 at good stage recovery. Testing is continuing on the remaining waste
streams from the lithium process circuit , which will allow for an overall concentrate grade and
recovery to be determined.
TANTALUM MARKET
Tantalum is a n essential component required for a range of high -tech devices, electronics,
superalloys, and essential niche applications including capacitors. Due to these essential uses ,
tantalum is listed as a critical and strategic mineral by the province of Quebec (Canada), Canada,
European Union, United Kingdom, Australia, Japan, India, South Korea, and the United States.
Tantalum is a unique , high -performance metal known for its high melting point, exceptional
corrosion resistance, and ability to efficiently store and transfer electrical charge. High-growth and
emerging applications of tantalum are being driven by both technological innovation and strategic
shifts in global industries. Emerging industry applications include advanced electronics and 5G
5
infrastructure, semiconductor manufacturing , medical technology including implants and medical
imaging equipment, aerospace, and quantum computing.
According to the United States Geological Survey , an estimated 2,100 tonnes of tantalum was
produced globally in 2024. N o significant amounts of tantalum are currently produced in North
America or Europe, with a majority (85%+) of production coming out of the Democratic Republic
of Congo, Rwanda , Nigeria, and Brazil. However, a significant amount of global supply ( ~60%)
comes out of certain African regions where serious conflict and corruption are present and worker
conditions are secondary, thus necessitating a conflict free source of supply. Growing t antalum
production from lithium pegmatites, predominantly out of Australia at this time, is seen as a source
of alternative, secure, stable, and conflict-free supply to global markets.
Tantalum currently trades for ~US$239/kg ($527/lb) in its refined form (Ta2O5 ≥99.5%). Depending
on the source, market growth is forecasted at 4-6% CAGR through the end the decade.
NEXT STEPS
Through the lithium-focused exploration and resource development drilling completed to date at
the Property, the Company has identified other high- value critical metal potential by -
products in addition to the existing large- scale lithium Mineral Resource at Shaakichiuwaanaan,
namely caesium, tantalum, and gallium. The caesium opportunity was outlined in the News
Release dated June 10, 2025, with the tantalum opportunity described in this news release.
The current phase of tantalum recovery testwork at SGS Canada’s Lakefield, ON, facility is
anticipated to be completed in the coming weeks and is focused on recovery from the lithium
process waste streams. This work will allow for a preliminary understanding of process design to
be developed and an estimate of the overall concentrate grade and recovery that may be expected.
A follow -up program is planned that will include further assessment as a potential “bolt-on”
recovery circuit to the primary lithium recovery circuit , as well as targeting optimizations of the
process.
Additionally, t he Company is actively engaged with potential end -users and supply chain
participants to further develop the economic opportunity in the tantalum products anticipated to
be derived from the Project.
The lithium-only Feasibility Study based on the CV5 Mineral Resource component of the overall
Shaakichiuwaanaan MRE is on-track for completion in Q3-2025 and remains the near-term focus
for the Company. The economic potential in critical metal by -products will be assessed once the
lithium-only Feasibility Study is completed, with various studies concurrently underway to better
evaluate the opportunities present for caesium, tantalum, and gallium specifically.
6
Table 1: Select high-grade tantalum intercepts at the CV5 and CV13 pegmatites.
Hole ID
From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Hole ID
From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
CV22-083 292.0 304.0 12.0 1.06 455 CV24-437 282.7 301.9 19.2 2.10 516
CV22-093 257.5 269.5 12.0 3.88 438 CV24-441 174.5 199.9 25.4 0.69 874
CV22-100 280.5 281.5 1.0 3.39 25,600 Incl. 181.9 191.4 9.5 1.12 1,538
Incl. 360.0 379.0 19.0 0.59 435 CV24-559 454.0 466.5 12.5 0.40 410
CV23-107 295.0 318.0 23.0 1.56 491 CV24-586 269.3 275.1 5.8 1.77 978
Incl. 299.4 310.0 10.6 0.88 621 CV24-620 330.1 342.0 11.9 0.52 505
CV23-116 319.2 366.5 47.3 0.64 406 CV24-626 38.0 49.0 11.0 0.01 752
Incl. 319.2 344.8 25.6 0.84 526 CV24-648 439.0 449.5 10.5 0.27 414
CV23-118 249.5 264.4 14.9 0.28 1,849 CV24-661 25.4 48.0 22.7 2.79 972
Incl. 260.0 261.0 1.0 0.23 11,292 Incl. 33.7 46.0 12.3 2.18 1,395
CV23-120 303.0 318.5 15.5 0.31 588 CV24-693 239.7 259.1 19.4 1.62 524
CV23-121 217.4 225.3 8.0 2.99 845 CV24-699 330.6 336.0 5.4 0.19 1,342
CV23-140 353.2 366.3 13.1 0.08 402 CV24-700 285.7 290.1 4.3 0.07 2,073
CV23-141 290.5 315.5 25.0 0.29 444 CV24-704 231.6 268.5 36.9 1.66 452
Incl. 296.8 300.5 3.7 0.25 865 CV24-708 346.0 357.5 11.5 0.11 490
CV23-161 37.3 46.8 9.6 0.94 758 CV24-709 205.7 216.3 10.6 2.04 542
CV23-181 276.5 299.4 22.9 2.58 621 CV24-711A 46.1 51.0 5.0 1.36 1,046
Incl. 289.5 297.5 8.0 1.34 1,007 CV24-717 51.4 62.4 11.0 1.40 403
CV23-183 323.1 332.3 9.3 1.92 625 CV24-719 205.5 219.9 14.4 1.60 431
CV23-241 184.5 199.0 14.5 2.29 446 CV24-727 336.6 348.5 11.9 0.02 650
CV23-259 111.8 121.9 10.2 1.47 967 CV24-733 296.2 307.5 11.3 1.24 493
CV23-268 85.2 95.7 10.4 0.30 998 CV24-735 195.8 206.3 10.5 2.45 824
CV24-418 199.2 203.2 4.1 2.31 1,023 CV24-737 324.3 342.0 17.7 0.36 522
CV24-433 214.2 234.5 20.3 0.89 443 CV24-739 279.9 293.9 14.0 0.87 460
Hole ID
From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Hole ID
From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
CV23-207 69.7 83.3 13.7 0.06 658 CV24-582 143.7 161.5 17.8 1.77 604
CV23-271 63.2 72.8 9.6 0.94 2,307 Incl. 143.7 149.2 5.5 0.78 1,006
Incl. 65.0 66.0 1.0 1.55 12,455 CV24-754 145.5 167.3 21.8 1.76 468
CV24-520 144.6 145.9 1.3 4.38 8,432 CV24-770 135.8 150.9 15.1 0.53 461
CV24-524 142.5 157.1 14.6 3.13 402 CV24-773 147.1 163.6 16.5 2.13 509
CV24-546 143.8 157.6 13.8 1.82 798 Incl. 152.3 156.1 3.8 1.06 1,147
Incl. 150.0 153.5 3.5 0.96 1,532
CV24-571 153.0 164.6 11.7 1.49 632
CV13 Pegmatite
CV5 Pegmatite
(1) All intervals are core length. Intervals are of pegmatite but may include minor
(typically <3 m) of low-grade pegmatite and/or non-pegmatite dillution.
7
Table 2: Attributes for drill holes discussed in this announcement.
Hole ID Substrate
Total
Depth (m)
Azimuth
(°)
Dip
(°)
Easting Northing
Elevation
(m)
Core
Size
Cluster
CV22-083 Land 440.0 158 -65 571660.9 5931296.4 379.5 NQ CV5
CV22-093 Land 408.2 158 -65 571743.5 5931362.3 378.3 NQ CV5
CV22-100 Land 458.0 158 -45 571472.6 5931356.6 376.6 NQ CV5
CV23-107 Land 428.2 158 -65 572027.0 5931475.3 374.5 NQ CV5
CV23-109 Land 392.1 158 -45 571832.3 5931386.2 376.5 NQ CV5
CV23-116 Land 476.0 158 -65 572214.5 5931532.1 373.5 NQ CV5
CV23-118 Land 437.1 158 -45 572214.8 5931531.4 373.5 NQ CV5
CV23-120 Land 443.0 158 -45 572150.2 5931552.7 376.5 NQ CV5
CV23-121 Land 454.7 158 -48 571782.1 5931402.9 377.0 NQ CV5
CV23-140 Ice 545.3 158 -65 572306.4 5931573.2 373.0 NQ CV5
CV23-141 Land 400.9 158 -60 571781.4 5931403.7 377.9 NQ CV5
CV23-161 Land 360.0 158 -45 569627.6 5930449.9 384.8 NQ CV5
CV23-181 Ice 354.0 158 -46 571316.2 5931230.0 373.0 NQ CV5
CV23-183 Ice 477.1 158 -65 572368.7 5931548.1 372.8 NQ CV5
CV23-207 Land 278.0 140 -45 565058.1 5927953.0 419.0 NQ CV13
CV23-241 Water 418.9 158 -62 570172.4 5930717.8 372.6 NQ CV5
CV23-259 Land 383.0 158 -45 568550.1 5930065.0 393.5 NQ CV5
CV23-268 Land 417.6 158 -65 568550.3 5930064.6 393.5 NQ CV5
CV23-271 Land 149.2 110 -75 565068.5 5927999.1 429.0 NQ CV13
CV24-418 Ice 624.4 158 -47 570600.7 5930984.1 372.1 NQ CV5
CV24-433 Ice 508.9 158 -48 570881.7 5931098.0 372.1 NQ CV5
CV24-437 Land 433.9 158 -55 571679.2 5931388.7 374.3 NQ CV5
CV24-441 Ice 342.2 158 -65 571004.7 5931058.3 372.0 NQ CV5
CV24-520 Land 243.7 320 -60 565459.7 5928564.3 387.4 NQ CV13
CV24-524 Land 209.0 20 -60 565464.9 5928560.5 387.7 NQ CV13
CV24-546 Land 385.3 260 -65 565279.3 5928733.5 388.3 NQ CV13
CV24-559 Land 558.8 170 -53 572567.1 5931725.4 374.8 NQ CV5
CV24-571 Land 236.1 90 -65 565032.3 5928630.7 398.2 NQ CV13
CV24-582 Land 227.2 10 -65 565031.2 5928632.1 398.3 NQ CV13
CV24-586 Land 395.9 156 -45 568872.3 5930201.4 390.1 NQ CV5
CV24-620 Land 413.0 160 -60 572214.9 5931531.8 373.1 NQ CV5
CV24-626 Land 245.5 10 -45 569488.6 5930276.8 383.9 NQ CV5
CV24-648 Land 484.9 180 -48 572564.4 5931724.7 374.6 NQ CV5
CV24-661 Land 283.8 158 -50 569678.9 5930468.7 382.5 NQ CV5
CV24-693 Land 344.0 125 -45 570647.6 5931010.5 373.8 NQ CV5
CV24-699 Land 409.7 150 -58 572151.3 5931550.9 375.9 NQ CV5
CV24-700 Land 302.1 163 -45 569453.6 5930438.9 380.5 NQ CV5
CV24-704 Land 355.0 200 -50 571097.9 5931094.0 375.3 NQ CV5
CV24-708 Land 431.0 160 -61 572052.0 5931534.6 372.6 NQ CV5
CV24-709 Land 320.3 155 -73 571442.8 5931177.7 377.0 NQ CV5
CV24-711A Land 368.0 162 -63 571560.9 5931282.6 374.4 NQ CV5
CV24-717 Land 353.0 167 -45 570110.3 5930637.3 377.0 NQ CV5
CV24-719 Land 305.0 158 -53 571132.6 5931145.0 376.4 NQ CV5
CV24-727 Land 446.9 146 -63 572052.3 5931534.8 372.7 NQ CV5
CV24-733 Land 392.2 145 -63 571561.7 5931282.9 374.5 NQ CV5
CV24-735 Land 404.2 155 -51 571653.2 5931324.2 376.8 NQ CV5
CV24-737 Water 415.8 170 -62 572324.5 5931536.8 373.0 NQ CV5
CV24-739 Land 401.0 158 -55 568598.9 5930071.1 388.9 NQ CV5
CV24-754 Land 235.9 280 -65 565288.0 5928612.6 390.0 NQ CV13
CV24-770 Land 220.9 0 -90 565129.6 5928730.6 395.0 NQ CV13
CV24-773 Land 200.0 35 -55 565291.6 5928615.0 389.7 NQ CV13
(1) Coordinate system NAD83 / UTM zone 18N; (2) Azimuths and dips presented are those 'planned' and may vary off collar/downhole.
8
QUALIFIED/COMPETENT PERSON
The information in this news release that relates to exploration results for the Shaakichiuwaanaan
Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc.,
P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure
for Mineral Projects, and member in good standing with the Ordre des Géologues du Québec (Geologist
Permit number 01968), and with the Association of Professional Engineers and Geoscientists of
Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information
in this news release.
Mr. Smith is an Executive and Vice President of Exploration for Patriot Battery Metals Inc. and
holds common shares, Restricted Share Units (RSUs), and Performance Share Units (PSUs) in the
Company.
Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit
under consideration, and to the activities being undertaken to qualify as a Competent Person as
described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the
matters based on his information in the form and context in which it appears.
ABOUT PATRIOT BATTERY METALS INC.
Patriot Battery Metals Inc. is a hard -rock lithium exploration company focused on advancing its
district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette) located in
the Eeyou Istchee James Bay region of Quebec, Canada, which is acce ssible year-round by all -
season road and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral
Resource5, which includes the CV5 & CV13 spodumene pegmatites, totals 108.0 Mt at 1.40% Li2O,
166 ppm Ta 2O5, and 66 ppm Ga, Indicated, and 33.3 Mt at 1. 33% Li2O, 156 ppm Ta 2O5, and 65
ppm Ga, Inferred, and ranks 6 as the largest lithium pegmatite resource in the Americas, and the
8th largest lithium pegmatite resource in the world. Shaakichiuwaanaan also holds significant
potential for other critical and strategic metals including caesium, tantalum, and gallium.
A Preliminary Economic Assessment (“PEA”) was announced for the CV5 Pegmatite (lithium) on
August 21, 2024, and highlights Shaakichiuwaanaan as a potential North American lithium raw
materials powerhouse. The PEA outlines the potential for a competitive and globally significant
high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense
Media Separation (“DMS”) only process flowsheet.
For further information, please contact us at [email protected] or by calling +1 (604)
279-8709, or visit www.patriotbatterymetals.com. Please also refer to the Company’s continuous
disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available
exploration data.
This news release has been approved by the Board of Directors.
5 Cut-off grade is variable depending on the mining method and pegmatite (0.40% Li2O open- pit, 0.60% Li2O underground CV5,
and 0.70% Li2O underground CV13). The Effective Date of the MRE (announced May 2025) is January 6, 2025 (through drill hole
CV24-787). Mineral Resources are not Mineral or Ore Reserves as they do not have demonstrated economic viability.
6 Determination based on Mineral Resource data, sourced through April 11, 2025, from corporate disclosure of NI 43-101, JORC,
or equivalent regulatory body (see news release dated May 12, 2025).