PMET Successfully Completes Phase 2 Caesium Testwork Program with Koch Technology Solutions Phase 2 bench-scale testwork program demonstrates a compelling opportunity for a more simplified and selective processing pathway to produce a variety of high purity caesium
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 Successfully Completes Phase 2 Caesium Testwork Program with
Koch Technology Solutions
Phase 2 bench-scale testwork program demonstrates a compelling opportunity for a more
simplified and selective processing pathway to produce a variety of high purity caesium
based chemical products from Shaakichiuwaanaan’s pollucite concentrate.
September 22, 2026 – Montreal, QC, Canada September 23, 2026 – Sydney, Australia
HIGHLIGHTS
• The Company continues to work with Koch Technology Solutions (“KTS”), part of
Koch Inc., in evaluating downstream processing pathways to produce value-added
caesium chemical products.
• The results of the recent Phase 2 testwork program have successfully
demonstrated a pathway for the production of multiple caesium products.
• KTS’s proprietary technology could significantly simplify and lower the costs of
producing a wide variety of high-purity caesium products from pollucite.
• Follow-up testwork program is now being designed and is anticipated to be
expanded to include a complete bench -scale proof-of-concept with production of
marketable samples.
• Pollucite concentrate generated from the ongoing BerryPick Program will underpin
the next phase of the testwork with KTS (see press release, September 8, 2026).
• The Company continues to advance discussions with strategic caesium players
downstream, including deepening its existing relationship with KTS , for future
chemical processing opportunities.
• Caesium and tantalum are anticipated co-products at Shaakichiuwaanaan, with the
potential for future revenue to be credited against the cost of lithium production. A
Preliminary Economic Assessment, targeted for Q4 2026, will provide the first
economic evaluation of the caesium credit.
PMET RESOURCES INC. (THE “COMPANY” OR “PMET”) (TSX: PMET) (ASX: PMT) (OTCQX:
PMETF) (FSE: R9GA) is pleased to report results from its Phase 2 bench -scale caesium
testwork program completed by Koch Technology Solutions (“KTS”), part of Koch Inc., on
pollucite concentrate from its Shaakichiuwaanaan Project, host to the world's largest
pollucite-hosted caesium pegmatite Mineral Resource and one of the world’s largest
lithium pegmatite Mineral Reserves1.
The Company continues to evaluate downstream opportunities beyond pollucite
concentrate production at site to potential “value-added” caesium chemicals, produced
with strategic partners with chemical expertise to maximize value from its globally
significant caesium resource . The KTS proprietary process offers an attractive and
compelling process route for caesium extraction from pollucite concentrate into
marketable chemical products , potentially capturing more economic value from the
caesium resource. This program further develops the potential process pathway.
KOCH TECHNOLOGY SOLUTIONS CAESIUM EXTRACTION TESTWORK PROGRAM
The program was carried out under a testwork arrangement with KTS, announced on April
15, 2026. KTS, part of Koch Inc., one of the largest privately held companies in the world,
develops, commerciali zes, and licenses critical minerals extraction technologies . The
arrangement with KTS allows the Company’s testwork program to leverage demonstrated
capabilities in engineering, development , and commercialization of critical minerals
extraction technologies.
Following completion of Phase 1 (see news release dated July 12, 2026), t he Phase 2
bench-scale program advanced by KTS was designed to assess the application of their
proprietary flowsheet technology that uses highly selective media. The approach targets
simplification of the existing , more conventional caesium recovery methodology by
significantly increasing selectivity for caesium, which would allow for much of the impurity
removal stage(s) to be bypassed. In contrast, existing approaches require additional
stages to obtain the desired caesium product purity. If successful, the approach using
KTS’s proprietary flowsheet offers an opportunity to significantly lower the cost of
recovery into a final high-purity caesium product.
The results of the recent bench -scale testwork have successfully established the
potential for a wide variety of caesium end -products to be produced by the KTS
process, demonstrating high selectivity for caesium and a much-reduced impurity profile.
Further work is required to validate the process through to marketable samples; however,
the confirmation of high selectivity for caesium using Shaakichiuwaanaan pollucite
concentrate, is a significant milestone.
1 Consolidated MRE (CV5 + CV13 pegmatites) totals 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (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% Cs2O 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. Project hosts
a Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O at the CV5 Pegmatite with a cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O
(underground). The Effective Date is September 11, 2025. See Feasibility Study news release dated October 20, 2025.
The pollucite concentrate (~6 kg) used as feed for the KTS caesium extraction testwork
program was produced by X-Ray Transmission (XRT) ore sorting of drill core material from
the Vega Caesium Zone at the CV13 Pegmatite ( see news release dated October 9, 2025)
and assayed 12% Cs2O (Figure 1)
Figure 1: Pollucite concentrate (~12% Cs2O) produced from
prior XRT ore sorting program (see news release dated
October 9, 2025), of which a portion was used as feed for
the bench-scale caesium extraction and recovery program
through Koch Technology Solutions discussed herein.
NEXT STEPS
A follow-up testwork program is now being designed and is anticipated to comprise a
complete bench-scale proof-of-concept for the processing of pollucite concentrate
from Shaakichiuwaanaan th rough to gram quantities of marketable caesium
products (e.g., caesium formate, caesium carbonate), as well as an initial assessment
of OPEX -CAPEX. This program will utilize a larger quantity of concentrate, which is
currently targeted to be produced from the ongoing BerryPick Program (see news release
dated September 8, 2026).
The pollucite sample collection methodology undertaken in the BerryPick program is
designed to produce >500 kg to potentially >1 tonne of pollucite concentrate to support
ongoing development and downstream caesium chemical testwork initiatives. This
includes future chemical testwork programs with Koch Technology Solutions, as well as
with others as the Company furthers its engagement with strategic partners in the
caesium industry downstream (see news release dated April 15, 2026).
In addition to being one of the largest lithium -tantalum pegmatite Mineral Re sources2
and lithium pegmatite Mineral Reserves 3 globally, the Property also hosts the world’s
largest in-situ pollucite-hosted caesium pegmatite Mineral Resource, comprising 0.69 Mt
at 4.40% Cs2O (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred). The CV13 Pegmatite, host
to the caesium Mineral Resource, is located <3 km along trend from the CV5 Pegmatite,
which is situated approximately 13 km south of the regional Trans -Taiga Road and
powerline infrastructure corridor, and is accessible year-round by road.
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 private 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 Markets (SMM)4
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, 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
2 Consolidated MRE (CV5 + CV13 pegmatites) totals 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (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% Cs2O 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.
3 Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O at the CV5 Pegmatite with a 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% Li 2O are also included in
the statement. The Effective Date is September 11, 2025. See Feasibility Study news release dated October 20, 2025.
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.
role in significantly improving next generation 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, ano de, and
electrolyte chemistries.
ABOUT KOCH TECHNOLOGY SOLUTIONS.
Koch Technology Solutions (KTS) is a global leader in technology development,
commercialization and licensing. KTS works with owners, developers, and investors in the
process, manufacturing and critical minerals sectors to solve complex technical and
investment challenges before large capital is committed, helping clients make confident
decisions from early concept through EPC -ready design. With a global network and rich
history of domain experience and expertise, KTS gains additional strength from its
position within Koch Engineered Solutions (KES). This backing enhances our ability to
partner with companies developing chemical process technologies, create attractive
licensing solutions for commercial deployment, and bring the next generation of
technologies to the market.
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.
QUALIFIED/COMPETENT PERSON
The technical and scientific information in this news release that relates to the Mineral
Resource Estimate, exploration, and metallurgical 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 of 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.
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.
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 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 Resource6 totalling 108.0 Mt at 1.40% Li2O and
166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (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
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.
“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 in such statements. You are hence cautioned not to place undue
reliance on forward -looking statements. Forward-looking statements are typically
identified by words or expressions such as “opportunity”, “continues”, “potential”, “follow-
up”, “anticipated”, “expanded”, “advance, “future”, “targeted”, “maximize”, “marketable”,
“targets”, “if successful”, “further”, “milestone”, “next steps”, “initial”, “designed to”,
“growing”, “being explored” or variations of such words or expressions 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
ability to produce value -added caesium chemical products, the ability of Koch’s
proprietary technology to significantly simplify and lower the costs of producing a wide
variety of high-purity caesium products from pollucite, the ability to design a follow -up
expanded testwork program to include a complete bench -scale proof -of-concept
program with production of marketable samples, the ability to continue to advance
discussions with strategic caesium players down stream, including deepening for future
chemical processing opportunities, the timing of the PEA and the ability of Koch’s
proprietary technology to significantly lower the cost of recovery into a final high-purity
caesium product.
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 ability of developing
Koch’s technology, to obtain the required financing to bring the project to development,
the ability to make discoveries, the potential of each of tantalum, lithium and caesium ,
that proposed exploration work on the Property and the results therefrom will continue
as expected, the accuracy of reserve and resource estimates, the classification of resources
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 the Property’s 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 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 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, w hich 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 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 from the Feasibility
Study referred to in this news release was rep orted by the Company in accordance with
ASX Listing Rule 5.16 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