Eastport Critical Metals Provides Operational Update to May 2026
Eastport Critical Metals Provides Operational
Update to May 2026
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Eastport Critical Metals Corp. (TSXV:
EVI) (OTCQB: EVIIF) ("Eastport" or the "Company") is pleased to provide an operational update
covering the period from which the Company completed its Qualifying Transaction and admission to the
TSX Venture Exchange (the "TSX-V") on 20 November 2025 to present date.
Chief Executive Officer, Burns Singh Tennent-Bhohi commented,
"
In less than 6 months of completing our listing on the TSX-V, the Eastport team have been and
continue to operate at an accelerated pace as we progress our critical metal projects in Botswana.
This operational update today provides a consolidated overview of both our deliverables and future
objectives. The current geo-political landscape and global financial markets are experiencing
enormous waves of uncertainty, disruption and volatility… what is consistent is our dependency on
energy and raw materials and the ever-changing de-globalised environment that the world now faces.
New discoveries and economic deposits are expected to become increasingly valuable in the current
global environment, and Eastport's objective is to contribute via one or more of the critical metals
projects we are progressing in Botswana. In order to do so, we believe that it is essential to maintain
and build on our current momentum in these current metals markets where scale and advancement
are increasingly rewarded."
Highlights:
Launched three concurrent Phase (1) drill programs
across Eastport's Copper, Rare Earth
Element (REE) and Uranium projects in Botswana
Completion of over 4,000m of Diamond Core Drilling and Reverse Circulation ("RC")
Drilling at Eastport's Flagship Matsitama Copper-project
testing three independent copper
targets including resource definition drilling at NAK (
see Figure 1
)
1
Completion of over 2,000m of Phase (1) RC Drilling at the Foley Uranium
on two drill hole
fence lines immediately north of the Letlhakane deposit, a project owned by Lotus Resources
Limited, hosting a reported mineral resource estimate of 142Mt @ 363 ppm U
₃
O
₈
for 113.7 Mlb
contained uranium
2, [A]
Ongoing Phase (1) Diamond Core Drilling at Eastport's Semarule REE Project
where
Drilling to date has intersected visual indicators suggesting the presence of a carbonatite intrusion.
Observations include; fenite alteration, thick calcite veining, and extensive apatite-rich intervals.
Completed a Strategic Financing
with significant natural resource fund manager in less than 3
months of going public.
Completed Secondary Listing
for the Company's common shares in the United States on the
OTCQB Venture Market (OTCQB: EVIIF).
High Level Project Review & Proposed Forward Objectives:
1
.
Matsitama Copper Project
The Matsitama Copper Project, located 75km west of Francistown in eastern Botswana, covers the bulk
of the Matsitama Schist Belt. This primarily metasedimentary belt hosts the adjacent, operating Kopano
Mine where mineralization is structurally constrained and within a significant regional structure, the
Bushman Fault. The mineralization is interpreted to extend south from the Kopano mining licence's
southern boundary for approximately 60km, within ground covered by Eastport licences.
[B]
At Eastport's
licences, notable prospects include Phudulooga and Mmai where historic Eastport drilling has
intersected high-grade copper mineralization.
At the
Nakalakwana
copper deposit (in the southern prospecting licenses that make up the Matsitama
Copper Project), the mineralization is both structurally and lithologically constrained. Both styles of
mineralization feature disseminated chalcopyrite with lessor bornite and chalcocite. The subject of a
historic SAMREC (2007) compliant mineral resource estimate the Nakalakwana extensions are open
with evidence of additional areas of mineralization extending over a strike length of +11km.
1
Elsewhere within the Matsitama Copper Project, an extensive ~25km copper-in-soil anomaly, known as
the Copper Cobra, is poorly understood and explored (Figure 1). Eastport's ongoing exploration has
included, a first phase of Reconnaissance-RC drilling over the length of this target. Planned regional
gravity and electromagnetic ("EM") geophysical surveys will target areas of structural enhancement
coincident with the copper anomalies.
Eastport completed the acquisition of the Matsitama project in 2021 and inherited; circa 50,000m of drill
data, a camp, over 1TB of geophysical data, ~100,000 geochemical soil sample assays and three
SAMREC (2007) Compliant Mineral Resource estimates at the NAK-Prospect.
(Projection: Cape, UTM zone 35 south)
Figure 1: Location of the Matsitama Copper Project Licence Areas, and the
Nakalakwana Hill
(NAK) Deposit, Copper Cobra and Kopano South Prospect Areas in Relation to the Operating
Kopano Copper Mine
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Matsitama-Copper Project - Key Objectives Completed:
Kopano-South:
Reconnaissance RC drilling has been completed along the southern extension of
the active adjacent Kopano Mine and successfully traced the Bushman Fault into Eastport's
prospecting licences. The programme was designed to evaluate the potential for strike continuity
of structurally-controlled semi-massive chalcopyrite-bornite-chalcocite sulphide mineralisation
along the regionally significant Bushman fault, which hosts over 60 km of prospective strike within
the Company's licences in the Matsitama Schist Belt.
Nakalakwana Hill ("NAK"):
Completion of 3,645m of diamond core drilling focused on tighter-
spaced infill drilling on the NAK Main Zone, which hosts a historical SAMREC (2007) resource of
9.9Mt @ 0.464 % Cu, comprising Indicated Mineral Resources of 6.8 Mt at 0.48% Cu and Inferred
Mineral Resources of 3.1 Mt at 0.43% Cu, within an open-pit shell (see
Nakalakwana Hill
Historical Resource
section below).
Completion of exploratory Step-Out Exploration at
NAK-West and NAK-East to chase
extensions on both sides of the main zones.
Copper-Cobra:
an extensive district scale ~25km Cu-in-soil anomaly. Completion of
Reconnaissance RC-Drilling to test structure and geology ahead of planned large gravity and EM
geophysical surveys to generate Phase (1) Drill Targets.
Matsitama: Forward Objectives
Prospect / Target
Action
Anticipated Timeline
NAK
Assay Results
Q2-Q3 - results anticipated imminently
NAK
Pit Optimisation Study
Q2-Q3 - study to evaluate potential optimisation/re-allocation of tonnage lost in past due
to depressed Cu price
NAK
East & West Expansion Core
Drilling
Q3-Q4 - Upon receipt of assay results, plan for Phase (2) expansion drilling to evaluate
potential extensions of mineralization within the Main Zone and East/West Zones
Copper-Cobra
Gravity Geophysics Survey
Q2-Q3 - program designed to model density over ~25km Cu-in-soil anomaly, to determine
Phase (1) Diamond Drill Targets
Copper-Cobra
Diamond Drilling
Q3-Q4 - subject to results of Gravity survey and finalised drill targets
Kopano South
Geophysics
Q2-Q3 Drone Magnetic Survey
Kopano South
Diamond Drilling
Q3-Q4 - subject to results of planned geophysics, follow-up drilling to better define
structural controls and relationships with the Bushman Fault and the neighbouring and
operating Kopano Mine
2
.
Foley Uranium Project
The Foley Uranium Project covers 421 km² in Botswana's Central District and lies immediately north of
Lotus Resource Limited's Letlhakane deposit, which hosts a reported mineral resource estimate of
142.2 Mt @ 363 ppm U
₃
O
₈
for 113.7 Mlb contained uranium.
2, [C]
Eastport believes the Foley Project is
prospective for uranium mineralization based on regional geological interpretations and its proximity to
the Letlhakane deposit. The Foley geology features Karoo Supergroup sediments that unconformably
overlie Archean basement. Paleo-channels, etched into the covered basement surface, host uranium
mineralization like the Langer Heinrich-style, shallow (40-80 m) redox-controlled uranium mineralisation.
Historic drilling at Foley also indicates that lithologies within the overlying Karoo host uranium as
observed to the immediate south at Letlhakane.
Figure 2: Foley Uranium Project Licence with neighbouring Letlhakane Deposit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8324/296440_95c3dc52640689b8_002full.jpg
Foley Uranium Project - Key Objectives Completed:
Completion of Phase (1) >2,000m RC Drill Program, testing the area to the north of the Letlhakane
Deposit (Figure 2).
Two initial ~3.0km long drill fences comprising 24 RC holes (16 and 8 holes) on 200m and 400m
spacing returned consistent radioactive anomalies that remain open to the north, northeast and
northwest.
Downhole gamma-logging results exceeded management expectations prompting planning for a
follow-up drill-program starting in late Q2.
Just over 2,000 RC chip samples are presently in the laboratory circuit. These assays will directly
measure the uranium content and allow for calibration of the downhole gamma logs.
Foley: Objectives to Year End
Prospect/Target
Action
Anticipated Timeline
Gojwane
Assays
Q2 - Underway
Gojwane
Phase 2 Drill Program
Q2-Q3, Phase 2 Drill Program at Gojwane-North to drill on wider, 1km spacing, to locate
the edges of mineralisation discovered during the first drilling phase
Gojwane-North
Phase 1 Drill Program
Q3, Program to test historic mineralisation in the north-west of the Gojwane area, where
prior drilling returned U
3
O
8
mineralisation
3
.
Semarule Rare Earth Element (REE) Project
The Semarule rare earths (REE) project is located 27km north-west of Gaborone in south Botswana.
The project is focused on a 15km
2
multi-phase alkaline igneous complex of syenite, syenite-related
lithologies and rare carbonatite dykes. The REE, determined by laboratory analysis, optical study and
hand-held XRF measurements on drill core, is hosted within the mafic mineral rich phases of the syenite
where observations of minerals known to host REE, such as apatite, are common. The observed mafic
mineral components in drill core range from 40% to >90%. The final drill hole of the first drilling phase is
testing an area of increased carbonatite veining, up to 2.75m thick, featuring calcite with up to 15%
mafic minerals, coincident with a gravity low.
Figure 3: Semarule Rare Earth Element (REE) Project showing Location of Diamond Drill Hole
Traces
To view an enhanced version of this graphic, please visit:
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Semarule REE Project - Key Objectives Completed
Completion of gravity survey to better understand the nature of the syenite intrusion and aid in
future drill collar location.
Currently completing Phase (1) Drill program testing compelling gravity high & gravity low areas,
where mineralisation features zones of fenite alteration.
Completed the selection of representative surface and core samples for mineral characterization
(Phase 1) and mineral deportment (Phase 2) studies.
Semarule: Objectives to Year End
Prospect/Target
Action
Anticipated Timeline
SEM-Hill
Drilling
Final core drilling to conclude before end of May
SEM-Hill
Sampling
Detailed sampling ongoing, supported by XRF measurements ongoing to drive effective
cost measures in laboratory sample-prep
SEM-Hill
Assays
Q3-Q4
SEM (all)
Mineral Study
Q3 to commence detailed multi-phase mineralogical study
SEM-Hill
Systematic RC Drilling
Future planned drilling at Semarule will be contingent on assay-results and the outcome
of the mineralogical study, which will support/determine the potential economics of the
project
Notes & References
Nakalakwana Hill Historical Resource
Eastport does not consider the 2013 SRK Consulting (South Africa) Pty Limited ("SRK") mineral
resource as current.
SRK was contracted by Matsitama Minerals (Pty) Ltd ("Matsitama") to undertake
the update of the Mineral Resources for the Nakalakwana Hill copper deposit on the basis of data from
30 drillholes completed during 2012.
Mineral Resources classified as Indicated and Inferred in
accordance with the definitions and guidelines of the SAMREC Code 2007 edition were reported from
the optimistic pit as shown in Table 2.
1
Table 2: Historical Mineral Resources for Nakalakwana based on the optimistic pit and a cut-off
grade of 3000 ppm, SRK 2013
Resource Class
Tonnage (Mt)
Copper Grade (ppm)
Indicated
6.8
4,800
Inferred
3.1
4,294
Total
9.9
4,640
Table Note:
Historical Resource stated in compliance with SAMREC 2007
In classifying the Mineral resources for Nakalakwana, SRK reviewed the drillhole data distribution, the
consistency in the grade distributions, the QA/QC, the spatial continuity observed in the variograms and
the quality of the estimates concomitant with the quantity of composites informing the estimates. SRK
considered the relatively well informed areas with drillhole intersections within 50 m spacing and with
demonstrated consistency in the grade distribution as Indicated Mineral Resources. The block estimates
informed by data spaced more than 50 m apart were classified as Inferred Mineral Resources. The
classification was consistent with the guidelines and definitions of The SAMREC Code (2007 edition),
which has since been superseded.
For Cut-off grade optimisation SRK obtained realistic costs based on the Mowana pit operations from
African Copper PLC and applied an escalation factor of 30% to the revenue factors and reduced the
mining costs by 30 % for the optimistic scenario for reporting resources. The pit optimisation run based
on this scenario indicated a cut-off grade of about 3 000 ppm Cu and a pit shell within which total mineral
resources of 9.9 Mt at 4,640 ppm Cu were reported at the 3,000 ppm cut-off grade (Table 2).
The Qualified Person ("QP") considers the historical estimate to be relevant as an indication of the
potential scale and grade of mineralization at Nakalakwana and as a basis for guiding future exploration
and resource delineation programs. The estimate was prepared by a reputable independent consulting
firm using industry-standard methodologies applicable at the time. However, its reliability is limited by
the age of the data (2012 drilling), the relatively wide drill spacing in portions of the deposit, and the
absence of verification work by the current QP. In addition, key economic and technical assumptions,
including costs, recoveries, and metallurgical performance, have not been independently validated by the
Company.
The Indicated and Inferred Mineral Resource categories reported under the SAMREC Code (2007) are
broadly comparable to the Indicated and Inferred Mineral Resource categories as defined in the
Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards adopted under NI
43-101, in that both classification systems are based on geological confidence and data quality.
However, the historical estimate has not been prepared in accordance with CIM Definition Standards,
including the explicit requirement to demonstrate reasonable prospects for eventual economic extraction
("RPEEE"), and therefore should not be relied upon as a current mineral resource.
Significant work is required to verify and upgrade the historical estimate to a current mineral resource
compliant with NI 43-101. The Company would need to validate historical data and QA/QC, complete
additional drilling, update geological modelling, undertake metallurgical work, and establish economic
parameters supporting RPEEE.
The SRK 2013 Mineral Resource estimate is considered to be historical as it was reported in line with
the 2007 Edition of the SAMREC Code which has subsequently been superseded by the 2016 Edion of
the SAMREC Code. The SAMREC Code (2016) adopted the CRIRSCO (Committee for Mineral
Reserves International Reporting Standards) standard definitions, bringing SAMREC 2016 into full
alignment with the International Reporting Code Template and as an acceptable foreign code under NI
43-101.
The planned CIM compliant Mineral Resource estimate will incorporate both infill drill data and update
underlying factors in order to support the required Reasonable Prospects of Eventual Economic
Extraction (RPEEE).
Neither the QP, the Company or its consultants have not done sufficient work to
make the resource current. The Company intends to complete a CIM-compliant mineral resource
estimate incorporating additional drilling and updated technical and economic assumptions. Neither the
QP, the Company, nor its consultants have undertaken sufficient work to classify the historical estimate
as current, and the Company is not treating the historical estimate as a current mineral resource.
References
1
SRK Consulting (South Africa) (Pty) Ltd Report titled:
Mineral Resource update for the Nakalakwana Hill copper deposit Botswana, Reported
Prepared for Matsitama Minerals (Pty) Ltd, Report Number 438430
, dated 24 May 2013. Report Author:
Senzeni Mandava, Resource Geologist. Site
Visit & Report Reviewer (QP): Victor Simposya, Partner and Principal Geologist.
2
Lotus Resources Limited, ASX announcement titled: "
Updated Letlhakane Scoping Study highlights Lotus' potential to become a 5.5Mlbpa
uranium producer
", corrected version dated 12 March 2025.
(see link:
https://wcsecure.weblink.com.au/pdf/LOT/02924086.pdf
)
Qualified Person
The technical information in this news release has been reviewed and approved by Nicholas O'Reilly
MIMMM (QMR) MAusIMM MSc DIC, an independent consultant and Qualified Person under National
Instrument 43-101 -
Standards of Disclosure for Mineral Projects
.
Eastport Critical Metals Corp: Project Location Map
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About Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF)
Eastport is a critical minerals development company advancing five projects in Botswana, with
cumulative historical and current expenditures approaching CAD$20 million. The Company's most
advanced asset is the Matsitama Copper Project, which hosts multiple sizeable targets across the
Matsitama copper district.
The Company's additional projects include Selebi East, a nickel-copper-cobalt project located seven
kilometres east of the historic Selebi Mines; the Semarule Rare Earth Elements Project, positioned
within the Gaborone-Molepolole corridor; the Foley Uranium Project, adjoining the Letlhakane uranium
deposit; and the Keng Project, which targets nickel, copper and PGE's on the northern margin of the
Molopo Farms Complex.
Botswana is widely regarded as one of Africa's strongest mining jurisdictions, combining the continent's
highest GDP per capita with a 50-year track record of large-scale mineral development since the Orapa
diamond discovery in 1967. The country ranks among the top performers globally on the Fraser
Institute's Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on the Policy
Perception Index. These rankings reflect Botswana's stable regulatory environment, consistent rule of
law, and long-standing support for responsible mineral development - factors that have underpinned
significant investment and major M&A activity in the natural resources sector in recent years.
On behalf of the Board of Directors
"
Burns Singh Tennent-Bhohi
"
Burns Singh Tennent-Bhohi, CEO
Eastport Critical Metals Corp.
For further information about Eastport, please contact:
Burns Singh Tennent-Bhohi
CEO and Director
Disclaimer for Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the expectations or beliefs of management of
the Company regarding future events. Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of
such words and phrases or statements that certain actions, events or results "may", "could", "should",
"would" or "occur". This information and these statements, referred to herein as "forward-looking
statements", are not historical facts, are made as of the date of this news release and include without
limitation, statements regarding discussions of future plans, estimates and forecasts and statements
as to management's expectations and intentions with respect to, among other things: the Company
delivering value to its shareholders through its critical metal's portfolio; the Company's exploration
and development programs; and the advancement of multi-asset drill campaigns across key critical
metals and the timing thereof.
These forward-looking statements involve numerous risks and uncertainties and actual results might
differ materially from results suggested in any forward-looking statements. These risks and