PMET Resources Invited to Participate in Prime Minister Carney’s Canada Investment Summit
PMET Resources Inc.
Suite 900 - 1801 McGill College, Montreal, Qc, Canada, H3A 1Z4
www.pmet.ca / TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
PMET Resources Invited to Participate in Prime Minister Carney’s
Canada Investment Summit
September 14, 2026 – Montreal, QC, Canada September 14, 2026 – Sydney, Australia
HIGHLIGHTS
• PMET Resources has been invited to participate in the Canada Investment Summit
on September 14 -15, 2026 , in Toronto, Canada, with its 100% -owned
Shaakichiuwaanaan critical minerals Project included in the Summit Prospectus.
• Shaakichiuwaanaan represents a strategic large-scale, globally relevant Canadian
critical minerals development opportunity, targeting to be one of the largest lithium
pegmatite mines in the world, with significant co-product opportunities (tantalum and
caesium).
• The Project’s co-products opportunities are supported by one of the largest tantalum
pegmatite resources in the world and the largest pollucite -hosted caesium pegmatite
resource in the world 1, both offering Canada the opportunity to re -write the current
respective supply chains of these minerals.
Ken Brinsden, President, CEO and Managing Director, comments: “The Canada Investment
Summit provides an important opportunity to showcase a selection of the most compelling
Canadian assets to some of the world’s leading pools of long-term capital. We believe
Shaakichiuwaanaan is exactly the type of project Canada is seeking to advance: large-scale,
located in a premier jurisdiction, supported by renewable hydroelectric power , and capable
of supplying several critical minerals into North American and allied supply chains.
“Its inclusion in the Summit’s prospectus provides another opportunity to engage with
institutional, strategic , and government -aligned partners as we continue to advance
Shaakichiuwaanaan toward a final investment decision.”
PMET Resources Inc. (the “Company” or “PMET”) (TSX: PMET) (ASX: PMT) (OTCQX:
PMETF) (FSE: R9GA) is pleased to announce its participation in the Canada Investment
1 Consolidated MRE (CV5 + CV13 pegmatites) totals 108.0 Mt at 1.40% Li 2O and 166 ppm Ta 2O5 (Indicated), and 33.4 Mt
at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), at an Li2O cut-off grade of 0.40% (open-pit), 0.60% (underground CV5), and
0.70% (underground CV13). A grade constraint of 0.50% Cs 2O was used to model the Rigel and Vega caesium zones,
contained entirely within CV13, with a MRE of 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred). The
Effective Date is June 20, 2025. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic
viability. Mineral Resources are inclusive of Mineral Reserves.
Summit 2026, taking place September 14 and 15 in Toronto, Ontario, Canada, and the
inclusion of its 100%-owned Shaakichiuwaanaan Project in the Canada Investment Summit
Prospectus. The document highlights selected investment opportunities in Canada by the
government.
The summit, which will be hosted in Toronto on September 14 and 15, is a first-of-its-kind
national investment forum initiated by Canadian Prime Minister Mark Carney in
partnership with Canada Pension Plan Investment Board and Public Section Pension
Investment Board, two of Canada’s largest pension fund investors.
The Prime Minister has confirmed that investors participating in the summit collectively
manage more than $100 trillion in assets, which underscores the scale of the global
investment audience being convened in Canada. The Government of Canada has an
ambitious plan to catalyze $1 trillion in total investment in Canada over the next five years.
SHAAKICHIUWAANAAN - A LARGE-SCALE CANADIAN CRITICAL MINERALS
OPPORTUNITY
The Company’s October 2025 lithium -only Feasibility Study 2 for the CV5 Pegmatite
outlined an approximate 20-year mine life, with nominal production capacity of up to
~800,000 tonnes per annum of SC5.5 spodumene concentrate. The study estimated an
AISC of approximately US$597/t SC5.5 and an after -tax NPV8% of approximately C$1.6
billion using a long -term SC5.5 p rice assumption of US$1,221/t. See news release dated
October 20, 2025.
The Project is supported by strategic investments from global leaders in the lithium and
battery value chain. Volkswagen Group and Albemarle Corporation are among PMET’s
largest strategic shareholders. Volkswagen initially invested approximately C$69 million for
a 9.9% interest in 2024, while Albemarle invested approximately C$109 million for a 4.9%
interest in 2023. Volkswagen’s wholly-owned battery subsidiary, PowerCo SE, has entered
into a binding offtake term sheet for 100,000 tonnes per annum of SC5.5 spodumene
concentrate for 10 years, equivalent to approximately 12.5% of the Project’s nominal
aggregate ~800,000 tpa production capacity. Subject to a final investment decision, the
Company is targeting commercial production in 2030, with full scale production by 2032.
ADVANCING CANADIAN VALUE-ADDED PROCESSING AND CO-PRODUCTS
The Company continues to evaluate opportunities to capture additional value from
Shaakichiuwaanaan’s lithium, caesium, and tantalum endowment.
2 See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut -off grade is 0.40% Li 2O (open-
pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above
0.37% Li2O are also included in the statement. Effective Date of September 11, 2025.
The Company is preparing an updated CV5 lithium -tantalum Feasibility Study and a
parallel lithium-caesium-tantalum Preliminary Economic Assessment (PEA) covering
the broader CV5 and CV13 Project, both targeted for completion in Q4 2026.
Future value-add processing initiatives are also a key study focus for the company. They
would potentially enable capturing more downstream value from the raw materials at site,
reducing transportation costs and making Canada more sovereign in critical minerals.
For lithium processing , a recent Concept Study undertaken by the Company identified
Primero’s proprietary ALi® atmospheric leach process as a potential preferred pathway
for further evaluation, with bench-scale work successfully producing 99.8% battery -grade
lithium carbonate from Shaakichiuwaanaan spodumene concentrate (see news release,
June 14, 2026). The Company has also entered into a Memorandum of Understanding with
Mitsui & Co ., Ltd. and Microwave Chemical Co ., Ltd. to evaluate microwave -assisted
electric calcination technology, potentially leveraging Québec’s low -cost renewable
hydroelectricity to support the production of higher-value lithium products in Québec.
For potential downstream processing of caesium, the Company is working with Koch
Technology Solutions, part of Koch Inc., to evaluate proprietary processing pathways for
converting Shaakichiuwaanaan pollucite concentrates into higher-value caesium chemicals
(see news release, April 15, 2026). For this purpose the Company’s September 2026 large-
scale sampling program called “BerryPick” is targeting the collection of substantially larger
quantities of material to support further generation of pollucite concentrate for
downstream caesium chemical testwork.
PROJECT FINANCING ENGAGEMENT
The Company continues to advance its Project-financing strategy in parallel with technical
studies, permitting, and commercial development. A non-binding Letter of Interest has
been received from Société Générale (see news release June 3, 2026), which has expressed
interest in participating as a Mandated Lead Arranger for a potential debt financing
package. The Company has also received non -binding support and engagement from
Export Development Canada (“EDC”), KfW IPEX-Bank, and an additional major Canadian
government financial institution in connection with the potential financing of
Shaakichiuwaanaan (see news release May 19, 2026).
These expressions of interest and support are preliminary, non-binding , and conditional,
and do not constitute credit approvals, commitments to lend, or definitive financing
arrangements.
ABOUT TANTALUM
Tantalum is an essential component required for a range of high-tech devices, electronics,
superalloys, and essential niche applications including capacitors used in mobile phones
and other electronics. It has been recently part of the AI roll out with data centers which
has contributed to recent price increases. 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 A.I.-focused GPUs and CPUs, advanced electronics and 5G
infrastructure, semiconductor manufacturing used in cloud computing. It’s also a key input
in medical technology including implants and medical imaging equipment, aerospace
including defense applications, and quantum computing.
According to the United States Geological Survey, an estimated 2,100 tonnes of tantalum
was produced globally in 2024. No 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 with poor worker conditions. Growing tantalum production from
lithium pegmatites, predominantly out of Australia at this time, is seen as a source of
alternative, secure, stable, and traceable supply to global markets, while the USGS reported
no U.S. mine production.
Tantalum currently trades for $232/lb as a spot concentrate pricing per pound of contained
Ta₂O₅ (Ta ≥30%), per Shanghai Metals market reporting3.
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 supply. 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 to over 100 Mt).
The market for caesium compounds and metals is niche and 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. As an example, caesium carbonate (Cs 2CO3≥99%) as an indicative spot price
currently trades at around US$250/kg (excluding VAT, Price Sourcing – Shanghai Metal
3 Shanghai Metals Market (SMM), September 11, 2026: CIF China 30% Tantalum Ore Price Charts - Shanghai Metals
Market (SMM)
Markets4.
Caesium is currently supply constrained, with only limited sources supplying the global
market. A discovery at the size, grade, and scale of Shaakichiuwaanaan has the potential
to be a primary source of supply for global markets over the long -term. This in cludes
existing applications for caesium in oil/gas drilling (Caesium Fromate), medical imaging,
emissions reduction, atomic clocks and precision GPS navigation, as well as new and
potentially growing applications in the terrestrial solar panel industry. Caesium has been
found to play a vital role in significantly improving next gen eration solar panel efficiency,
stability, and life span. Additionally, the use of caesium in lithium-ion batteries to improve
performance is actively being explored through use as an additive in certain cathode,
anode, and electrolyte chemistries.
QUALIFIED/COMPETENT PERSON
The technical and scientific information in this news release that relates to the Mineral
Resource Estimate and exploration results for the Company’s properties 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 (“NI 43 -101”), and member in good standing with the Ordre des
Géologues du Québec (Geologist Permit number 01968), and with the Association o f
Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith
has reviewed and approved the related 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), Performance Share Units (PSUs), and
options in the Company.
The information in this news release that relates to the Mineral Reserve Estimate and
Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric
Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and
member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin
has reviewed and approved the related technical information in this news release.
Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources
Inc. and holds common shares, RSUs, PSUs, and options in the Company.
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
4 SSM publishes an indicative spot price for 99% caesium carbonate in China. Given the small and relatively opaque
nature of the global caesium market and the limited observable transaction volumes traded on SMM, the SMM
should be regarded as an indicative market reference rather than a directly achievable price for PMET’s potential
caesium products.
in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year -round
by all-season road and proximal to regional hydro-power infrastructure.
In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5
Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of
84.3 Mt at 1.26% Li 2O (Probable)5. The study 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.
Further, the results highlight Shaakichiuwaanaan as a potential North American critical
mineral powerhouse with significant opportunity for tantalum and caesium in addition to
lithium.
The Project hosts a Consolidated Mineral Resource 6 totalling 108.0 Mt at 1.40% Li 2O and
166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li 2O and 155 ppm Ta 2O5 (Inferred), and
ranks as a top ten lithium pegmatite globally in size. 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).
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 tho se
expressed or implied by such statements. You are hence cautioned not to place undue
reliance on forward -looking statements. Forward-looking statements are typically
5 See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is 0.40% Li2O (open-
pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above
0.37% Li2O are also included in the statement. Effective Date of September 11, 2025.
6 Consolidated MRE (CV5 + CV13 pegmatites) is reported at an Li2O cut-off grade of 0.40% (open-pit), 0.60%
(underground CV5), and 0.70% (underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and
Vega caesium zones, contained entirely within CV13. The Effective Date is June 20, 2025. Mineral Resources are not
Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral
Reserves.
identified by words such as “potential”, “advance”, “advancing”, “targeting”, “opportunity”,
“expected”, “continue”, “development”, “completion”, “support”, “engage”, “could”, “may”,
“would”, “might” or “will”, or variations of such words and phrases.
Forward-looking statements include, but are not limited to, statements concerning the
potential benefits arising from participation in the Canada Investment Summit and
inclusion of the Shaakichiuwaanaan Project in the Summit investment deal book; the
development, production and economic potential of the Shaakichiuwaanaan Project; the
Primero, Mitsui, Microwave Chemical Co., Ltd. and Koch Technology Solutions initiatives;
potential lithium, tantalum and caesium co -product and downstream opportunities; the
updated CV5 lithium -tantalum Feasibility Study and parallel lithium -caesium-tantalum
PEA/Scoping Study on the broader Project; future project financing and the non-binding
interest or support of Société Générale, EDC, KfW IPEX -Bank and other prospective
financing partners; and the timing and potential achievement of a final investment
decision.
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 include, without limitation,
the accuracy of Mineral Resource and Mineral Reserve estimates and the assumptions on
which they are based; the ability to complete ongoing technical studies an d testwork as
planned; the ability to achieve expected recoveries, product specifications and
development outcomes; long-term demand for lithium, tantalum and caesium; the ability
to obtain all required regulatory approvals; the availability of financing o n acceptable
terms; and that exploration and development results continue to support management’s
current plans for the Project.
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 should
review 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 the forward-looking stateme nts, 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 abov e, 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, e xcept 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 RULES)
The information in this news release that relates to the Feasibility Study (“FS”) for the
Shaakichiuwaanaan Project, which was first reported by the Company in a market
announcement titled “PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study
for its Large-Scale Shaakichiuwaanaan Project” dated October 20, 2025 (Montreal time), is
available on the Company’s website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and
on the ASX website at www.asx.com.au. The production target and forecast financial
information from the Feasibility Study referred to in this news release was reported by the
Company in accordance with ASX Listing Rule s 5.16 and 5.17 on the date of the original
announcement. The Company confirms that, as of the date of this news release, all material
assumptions and technical parameters underpinning the production target and forecast
financial information in the original announcement continue to apply and have not
materially changed.
The Mineral Resource and Mineral Reserve Estimates in this release were first reported by
the Company in accordance with ASX Listing Rule s 5.8 and 5.9 in market announcements
titled “World’s Largest Pollucite -Hosted Caesium Pegmatite Deposit” dated July 20, 2025
(Montreal time) and “PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study
for its Large -Scale Shaakichiuwaanaan Project” dated Oc tober 20, 2025 (Montreal time)
and are available on the Company’s website at www.pmet.ca, on SEDAR+ at
www.sedarplus.ca and on the ASX website at www.asx.com.au. The Company confirms that,
as of the date of this news release, it is not aware of any new information or data verified
by the competent person that materially affects the information included in the relevant
announcement and that all material assumptions and technical parameters underpinning
the estimates in the relevant announcement continue to a pply 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.