High Recovery Caesium Concentrate Produced from Latest Metallurgical Testwork at Shaakichiuwaanaan Initial testwork supports pathway to potential valuable caesium by/co-product alongside lithium and tantalum at the CV13 Pegmatite
PMET Resources Inc.
Suite 900 - 1801 McGill College, Montreal, Qc, Canada, H3A 1Z4
www.pmet.ca / TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
High Recovery Caesium Concentrate Produced from Latest
Metallurgical Testwork at Shaakichiuwaanaan
Initial testwork supports pathway to potential valuable caesium by/co-product alongside
lithium and tantalum at the CV13 Pegmatite
October 8, 2025 – Montreal, QC, Canada October 9, 2025 – Sydney, Australia
HIGHLIGHTS
• Marketable commercial grade pollucite concentrate successfully produced from
the Vega Caesium Zone at the CV13 Pegmatite via bench-scale X-Ray Transmission (XRT)
ore sorting testwork:
o 11.9% Cs2O at 88% global recover y, which reflects the weighted-average of two
combined size fractions that individually graded:
o 20.0% Cs2O (12.5 to 25 mm fraction); and
o 11.5% Cs2O (+25 mm fraction).
o Pollucite concentrate grading > 8-10% Cs 2O is typically considered a highly
marketable and favorable feed for downstream chemical conversion.
• XRT ore sorting is a conventional, well -understood, dry , mechanical, and
commercial process applied to relatively coarsely crushed material across the mining
industry globally, and is the preferred method for pollucite recovery:
o As no water or chemical reagents are required, no tailings are produced – only coarse,
dry, reject material.
• Reject material from the XRT ore sorter at CV13 also contains significant lithium
(spodumene) and tantalum (tantalite) , which may subsequently be recovered
using standard processing methods.
• The Rigel and Vega Z ones at Shaakichiuwaanaan’s CV13 Deposit combined rank as the
largest known pollucite-hosted caesium pegmatite Mineral Resource 1 in the world ,
comprising:
o Indicated: 693,000 t at 4.40% Cs2O, 2.12% Li2O, and 283 ppm Ta2O5.
o Inferred: 1,698,000 t at 2.40% Cs2O, 1.81% Li2O, and 245 ppm Ta2O5.
• The Company has commenced evaluating options to advance and incorporate the caesium
opportunity at Shaakichiuwaanaan as a potential future by/co-product value stream.
1 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). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. The
Effective Date of the MRE (announced July 20, 2025) is June 20, 2025 (through drill hole CV24- 787). Mineral Resources are not
Mineral or Ore Reserves as they do not have demonstrated economic viability.
Darren L. Smith, Executive Vice President Exploration, comments: “These initial testwork results
confirm that Shaakichiuwaanaan’s CV13 Deposit has the potential to deliver highly marketable commercial
grade pollucite concentrates using a relatively simple and cost-effective recovery method – XRT ore sorting.
This is a n encouraging outcome for this stage of testwork, with strong recoveries and upgrading .
Importantly, the reject material from the XRT circuit remains well sized for subsequent spodumene
recovery via conventional DMS and tantalite recovery using gravity and magnetic methods, creating a clear
pathway to potentially unlocking multiple value streams from the Project.”
“A follow-up testwork program is being planned which will focus on optimization of the XRT circuit for
pollucite recovery as well as subsequent recovery of spodumene and tantalite . The Company is actively
exploring approaches and opportunities to unlocking this globally leading caesium opportunity at
Shaakichiuwaanaan,” added Mr. Smith.
PMET RESOURCES INC. (THE “COMPANY” OR “PMET”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to announce that it has successfully produced
marketable commercial grade pollucite concentrates from an initial bench-scale testwork program
undertaken on representative material from the Vega Caesium Zone at the CV13 Pegmatite. The
CV13 Pegmatite is situated ~2.5 km along strike of the CV5 Pegmatite and forms part of the
Company’s 100%-owned Shaakichiuwaanaan Project (the “Property” or “Project”), located in the
Eeyou Istchee James Bay region of Quebec.
The Shaakichiuwaanaan Mineral Resource 2, 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.
Further to news releases dated April 9, June 10, and July 20, 2025 – which outlined the pollucite
discovery (Figure 4) and subsequent Mineral Resource at the Rigel and Vega Caesium Zones – the
Company has recently completed a preliminary XRT ore sorting test program on an approximate
~250 kg drill core composite sample (1/2 core NQ) from the Vega Zone (Table 1 and Table 2).
An XRT ore sorter classifies material by analyzing the sample’s atomic density, prompting a blast
of compressed air to separate the high-density pieces of rock (e.g., pollucite) to the concentrate
fraction while the remaining lower -density pieces pass through to the reject fraction (Figure 2).
XRT ore sorting is a commonly used method for producing pollucite concentrates from pegmatite.
It is a simple, well-understood, dry, mechanical, and commercial process that requires
only a coarse crush of the feed material as preparation and therefore, no high-cost grinding, water,
or chemicals are required. Further, as no water or chemicals are used, no tailings are produced –
only coarse, dry reject material that, in the case of CV13, is also amenable to further spodumene
and tantalite recovery downstream.
2 Shaakichiuwaanaan’s Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0
Mt at 1.40% Li 2O, 0.11% Cs 2O, 166 ppm Ta 2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li 2O, 0.21% Cs 2O, 155 ppm
Ta2O5, and 65 ppm Ga, Inferred, and 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 June 20, 2025 (through drill hole CV24- 787). Mineral Resources are
not Mineral or Ore Reserves as they do not have demonstrated economic viability.
For the test program, the composite core sample – with an ~2.5% Cs2O representative head grade
– was crushed and separated into three size fractions (<12.5 mm, 12.5 to 25 mm, and >25 mm) .
The two larger fractions were processed independently through the ore sorter , producing two
pollucite concentrates and corresponding reject fractions (Figure 1 and Figure 3). Both of these
fractions successfully produced marketable >10% Cs 2O pollucite concentrates grading 20.0%
Cs2O (12.5 to 25 mm fraction) and 11.5% Cs2O (+25 mm fraction) and, when combined, result
in a highly marketable commercial grade pollucite concentrate (11.9% Cs2O) at high
overall recovery (88%).
Figure 1: Block flow diagram for pollucite recovery from the Vega Caesium Zone (CV13 Pegmatite)
Figure 2: Simplified schematic of XRT ore sorting machine used to produce pollucite concentrate
(courtesy TOMRA)
Figure 3: Left - 20.0% Cs2O pollucite concentrate (12.5 to 25 mm fraction); Right - 11.5% Cs2O pollucite
concentrate (+25 mm fraction). See Table 1, Figure 5, and news release dated April 9, 2025, for drill hole
composite sample intervals, location, and assay data.
Additionally, the reject fractions contain significant lithium (spodumene) and, as it remains
appropriately sized, may be subsequently recovered using standard dense media separation
(“DMS”). Significant tantalum (tantalite) i s also present in the rejects and may typically be
recovered using simple gravity and magnetic methods.
The pollucite recovery testwork programs are being carried out at TOMRA Mining’s Test Center
in We del, Germany (XRT ore sorting) and at SGS Canada ’s Lakefield, ON, Canada, facility
(material preparation, assay, and spodumene-tantalite recovery). The programs are a collaborative
effort involving TOMRA Mining, SGS Canada, Primero Group Americas and associated Qualified
Person(s), as well as an independent expert in pollucite processing.
The Rigel and Vega Z ones at Shaakichiuwaanaan’s CV13 Deposit combined rank as the largest
known pollucite-hosted caesium pegmatite Mineral Resource3 in the world, comprising:
o Indicated: 693,000 t at 4.40% Cs2O, 2.12% Li2O, and 283 ppm Ta2O5.
o Inferred: 1,698,000 t at 2.40% Cs2O, 1.81% Li2O, and 245 ppm Ta2O5.
Such deposits of pollucite are very rare and typically range in scale from <10 kt to 350 kt,
highlighting the magnitude and potential of the caesium discovery at Shaakichiuwaanaan. XRT ore
sorting is considered an optimal recovery method for pollucite from pegmatite, requir ing only a
coarse crush, with the reject material remaining coarse enough for subsequent DMS recovery of
spodumene. This is commercially appealing as the pollucite XRT ore sorting recovery circuit may
be placed as a bolt -on ahead of the spodumene DMS recovery circuit, without complicating the
overall flowsheet.
3 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). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. The
Effective Date of the MRE (announced July 20, 2025) is June 20, 2025 (through drill hole CV24- 787). Mineral Resources are not
Mineral or Ore Reserves as they do not have demonstrated economic viability.
Figure 4: High grade pollucite drill core from the Vega Zone, assaying ~30% Cs 2O. Sample is a targeted
selection of pollucite from a drill core composite sample, which was used as a training sample for the XRT
ore sorter software. See Table 1, Figure 5, and news release dated April 9, 2025, for drill hole composite
sample intervals, location, and assay data.
NEXT STEPS
For next phase of testwork, the Company will collect a larger diameter drill core composite sample
to explore coarser and finer size fractions using the ore sorter to further optimize the proposed
processing pathway and build on these highly encouraging initial results. As part of this work, the
software program used to direct the ore sorter will be refined to take into account the specific
nature of the Shaakichiuwaanaan CV13 pollucite pegmatite material, with the intent to further
improve separation efficiency. Additionally, a program is currently underway to recover the
spodumene and tantalite present in the o re sorter reject fractions using simple gravity (DMS,
tables) and magnetic methods.
The Company has also commenced evaluating options to advance and incorporate the caesium
opportunity at Rigel and Vega as a potential future by/co -product value stream for the overall
Shaakichiuwaanaan Project. As part of this initiative, the Company has begun engaging with several
potential end-users and supply chain participants to further develop the economic opportunity in
the caesium product(s) 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 scheduled for completion in the coming weeks and remains the near-
term focus for the Company. The economic potential in critical metal co/ by-products will be
assessed separately from the lithium -only Feasibility Study, with various ear lier stage studies
concurrently underway to better evaluate the opportunities present for the future inclusion of
caesium, and tantalum specifically.
ABOUT CAESIUM
Mineral deposits of pollucite-hosted caesium are very rare globally and represent the most
fractionated component of LCT pegmatite systems, which are effectively the only known primary
economic source of caesium globally. Economic deposits of caesium pegmatite are typically
on a smaller scale of <10 kt to 350 kt in size compared to deposits of lithium pegmatite that
typically range in the millions of tonnes in size (<10 Mt and rarely over 100 Mt).
Globally, it is estimated only three (3) primary caesium mines have historically operated and all
were pollucite hosted – Tanco (Canada), Bikita (Zimbabwe), and Sinclair (Australia). At Bikita and
Sinclair, the in -situ pollucite resources are reported to have been exhausted in 2018 and 2019,
respectively. Tanco is understood to be approaching the end of its mine-life with extraction from
existing tailings piles and/or mine remnants being explored.
The market for caesium compounds and metals is largely opaque because it is not publicly traded
like copper or gold, but rather through bi-lateral and term contracts. Further, product prices vary
depending on their contained caesium form, purity and end- product use. Caesium carbonate
(Cs2CO3≥99%) currently trades at approximately US$155/kg (excluding VAT, Price Sourcing –
Shanghai Metal Markets).
Caesium is currently supply constrained, with only limited sources supplying the global market. A
discovery of this size, grade, and scale has the potential to be a primary source of supply for global
markets. This includes existing applications for caesium in oil/gas drilling, medical imaging and now
new and potentially growing applications in the terrestrial solar panel industry. Caesium has been
found to play a vital role in significantly improving next generation solar panel efficiency, stability,
and life span through the application of perovskite crystal structures.
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 PMET Resources 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 Explo ration 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 PMET RESOURCES INC.
PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused
on advancing its district -scale 100% -owned Shaakichiuwaanaan Property located in the Eeyou
Istchee James Bay region of Quebec, Canada, which is accessible year -round by all -season road
and proximal to regional powerline infrastructure. The Project hosts a Consolidated Mineral
Resource4, which includes the Rigel and Vega caesium zones, totalling 108.0 Mt at 1.40% Li 2O,
0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li 2O, 0.21% Cs2O,
155 ppm Ta2O5, and 65 ppm Ga, Inferred, and ranks as the largest 5 lithium pegmatite resource in
the Americas, and in the top ten globally. Additionally, the Project hosts the world’s
largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69
Mt at 4.40% Cs2O, Indicated, and 1.70 Mt at 2.40% Cs2O, Inferred
For further information, please contact us at [email protected] or by calling +1 (604) 279- 8709, or
visit www.pmet.ca. 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,
“KEN BRINSDEN”
Kenneth Brinsden, President, CEO, & Managing Director
Olivier Caza-Lapointe
Head, Investor Relations
T: +1 (514) 913-5264
DISCLAIMER FOR FORWARD-LOOKING INFORMATION
This news release contains “forward -looking statements” and “forward -looking information”
within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward -looking
statements. Forward-looking statements involve known and unknown risks, uncertainties and
assumptions and accordingly, actual results could differ materially from those expressed or implied
in such statements. You are hence cautioned not to place undue reliance on for ward-looking
statements. Forward -looking statements are typically identified by words such as “plan”,
“development”, “growth”, “continued”, “intentions”, “expectations”, “emerging”, “evolving”,
“strategy”, “opportunities”, “anticipated”, “trends”, “potential”, “outlook”, “ability”, “additional”,
“on track”, “prospects”, “viability”, “estimated”, “reaches”, “enhancing”, “strengthen”, “target”,
“believes”, “next steps” or variations of such words and phrases or statements that certain actions,
events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements include, but are not limited to, statements concerning the follow-up
testwork program, the potential presence of lithium (spodumene) and tantalum (tantalite) in the
rejects, the value of the caesium opportunity, the efforts to advance and incorporate the caesium
opportunity at Rigel and Vega as a potential future by/co -product value stream for the overall
Project, the studies currently under way, and the market for caesium
4 The Consolidated MRE 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). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega
caesium zones, which are entirely within the CV13 Pegmatite’s open- pit mining shape. The Effective Date of the MREs is June 20,
2025 (through drill hole CV24- 787). Mineral Resources are not Mineral or Ore Reserves as they do not have demonstrated
economic viability.
5 Determination based on Mineral Resource data, sourced through July 11, 2025, from corporate disclosure.
Forward-looking statements are based upon certain assumptions and other important factors that,
if untrue, could cause actual results to be materially different from future results expressed or
implied by such statements. There can be no assurance that forward-looking statements will prove
to be accurate. Key assumptions upon which the Company’s forward-looking information is based
include, without limitation, the market for caesium , that proposed exploration work on the
Property will continue as expected, the accuracy of reserve and resource estimates, the
classification of resources between inferred and the assumptions on which the reserve and
resource estimates are based, long -term demand for lithium ( spodumene), tantalum (tantalite),
and caesium (pollucite) supply, and that exploration and development results continue to support
management’s current plans for Property development.
Forward-looking statements are also subject to risks and uncertainties facing the Company’s
business, any of which could have a material adverse effect on the Company’s business, financial
condition, results of operations and growth prospects. Readers shou ld consider reviewing the
detailed risk discussion in the Company’s most recent Annual Information Form filed on SEDAR+,
for a fuller understanding of the risks and uncertainties that affect the Company’s business and
operations.
Although the Company believes its expectations are based upon reasonable assumptions and has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward -looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward -looking information will prove to be accurate. If any of the risks or
uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary
materially from those anticipated in the forward-looking statements.
The forward- looking statements contained herein are made only as of the date hereof. The
Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except to the extent required
by applicable law. The Company qualifies all of its forward-looking statements by these cautionary
statements.
COMPETENT PERSON STATEMENT (ASX LISTING RULE 5.23) FOR SHAAKICHIUWAANAAN
MRE
The mineral resource estimate in this release was reported by the Company in accordance with
ASX Listing Rule 5.8 on July 21, 2025. The Company confirms that, as of the date of this news
release, it is not aware of any new information or data verified by t he competent person that
materially affects the information included in the announcement and that all material assumptions
and technical parameters underpinning the estimates in the announcement continue to apply and
have not materially changed. The Company confirms that, as at the date of this announcement, the
form and context in which the competent person’s findings are presented have not been materially
modified from the original market announcement.