MONTREAL, December 19, 2025 /PRNewswire/ — December 19, 2025 – Sydney, Australia
PMET Resources Inc. (the “Company” or “PMET”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce that its largest strategic investor, Volkswagen Finance Luxemburg SA (Volkswagen), has accepted an offer from the Company to subscribe for 89,125 fully paid ordinary shares of the Company at an issue price of $4.03 per share, in accordance with the investor rights agreement with the Company, for total gross proceeds of approximately $359,000. The Company intends to use this product for general corporate purposes.
Volkswagen’s subscription follows the Company’s recent issuance of shares to Exploration Azimut Inc. and SOQUEM Inc at the deemed issue price of $3.68 per share as part of the acquisition of Pikwa announced on November 12, 2025.
The Toronto Stock Exchange conditionally approved the issuance of the 89,125 shares to Volkswagen. The Shares will be issued in accordance with the Company’s existing investment capacity under ASX Listing Rule 7.1.
About PMET Resources Inc.
PMET Resources Inc. is a critical pegmatite mineral exploration and development company focused on advancing its 100% district-wide Shaakichiuwaanaan property located in the Eeyou Istchee Baie-James region of Quebec, Canada, which is accessible year-round by an all-weather road and close to regional hydroelectric infrastructure.
In late 2025, the Company announced a positive lithium-only feasibility study on the CV5 pegmatite (the “Feasibility Study”) and declared an initial mineral reserve of 84.3 Mt at 1.26% Li.2O (Probable)1. The study describes the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa of spodumene concentrate using a simple dense media separation (“DMS”) process flowsheet only. Additionally, the results highlight Shaakichiuwaanaan as a potential critical minerals powerhouse in North America with significant opportunities for tantalum and cesium in addition to lithium.
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1 See Feasibility Press Release dated October 20, 2025. The cut-off grade for probable mineral reserves is 0.40% Li.2O (open-air) and 0.70% Li2O (underground). Underground development and marginal open pit tonnage containing material greater than 0.37% Li2O are also included in the declaration. Effective date September 11, 2025. |
The project hosts a consolidated mineral resource2 totaling 108.0 Mt at 1.40% Li2O and 166 ppm Ta2Oh5 (Indicated), and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2Oh5 (inferred), and ranks as the largest3 lithium pegmatite resource in the Americas and among the top ten in the world. Additionally, the project hosts the world’s largest pollucite-hosted cesium pegmatite mineral resource in the Rigel and Vega areas with 0.69 Mt at 4.40% Cs.2O (indicated) and 1.70 Mt at 2.40% Cs2O (inferred).
For more information, please contact us at info@pmet.ca or by calling +1 (604) 279-8709, or visit www.pmet.ca. Please also refer to the Company’s continuous disclosure documents, available under its profile at www.sedarplus.ca And www.asx.com.aufor available exploration data.
This press release has been approved by
“KEN BRINSDEN”
Kenneth Brinsden, President, CEO and Managing Director
Qualified person(s)
The technical and scientific information contained in this press release regarding the mineral resource estimate and exploration results of the Company’s properties is based upon and fairly represents information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Regulation 43-101 – Information standards concerning mining projects (“NI 43-101”), and member in good standing with the Order of Geologists of Quebec (Geologist License number 01968) and with the Association of Professional Engineers and Geoscientists of Alberta (membership number 87868). Mr. Smith has reviewed and approved the related technical information contained in this press release.
Mr. Smith is a Director and Vice President of Exploration for PMET Resources Inc. and holds common stock, restricted stock units (RSUs) and performance share units (PSUs) of the Company.
The information contained in this press release regarding the feasibility study and the estimation of mineral reserves is based on and faithfully represents the information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a qualified person within the meaning of Regulation 43-101 and a member in good standing of the Order of Engineers of Quebec. Mr. Mercier-Langevin has reviewed and approved the related technical information contained in this press release.
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2 The Consolidated MREs (CV5 + CV13 pegmatites), which include the Rigel and Vega cesium zones, total 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppmTa2Oh5and 66 ppm Ga, indicated, and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppmTa2Oh5and 65 ppm Ga, deduced, and is reported at a cut-off grade of 0.40% Li2O (open air), 0.60% Li2O (underground CV5) and 0.70% Li2O (underground CV13). A slope constraint of 0.50% Cs2O was used to model the Rigel and Vega cesium zones. The effective date is June 20, 2025 (through borehole CV24-787). Mineral resources are not mineral reserves because they have not demonstrated economic viability. Mineral resources include mineral reserves. |
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3 Determination based on mineral resource data, obtained through July 11, 2025, from information provided by the company. |
Mr. Mercier-Langevin is Chief Operating and Development Officer of PMET Resources Inc. and holds common shares, options, restricted stock units (RSUs) and performance share units (PSUs) of the company.
Competent Person Declaration (ASX Listing Rules)
The information contained in this press release 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.caon SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The production target for the feasibility study referred to in this press release was reported by the Company in accordance with ASX Listing Rule 5.16 as of the date of the original announcement. The Company confirms that as of the date of this press release, all significant technical assumptions and parameters underlying the production target in the original announcement continue to apply and have not changed significantly.
The mineral resource and mineral reserve estimates contained in this release were first published by the Company in accordance with ASX Listing Rules 5.8 and 5.9 in market announcements entitled “The world’s largest pollutant-hosted cesium 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 October 20, 2025 (Montreal time) and are available on the Company’s website at www.pmet.caon 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 press release it is not aware of any new information or data verified by the relevant person which materially affects the information included in the relevant announcement and that all significant technical assumptions and parameters underlying the estimates in the relevant announcement continue to apply and have not changed materially. The Company confirms that as of the date of this announcement, the form and context in which the competent person’s conclusions are presented have not been materially changed from the initial market announcement.
Contact: Olivier Caza-Lapointe, Head of Investor Relations, T: +1 (514) 913-5264, E: ocazalapointe@pmet.ca
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SOURCE PMET Resources Inc.
