Ms. Natacha Garoute reports

PMET RESOURCES RECEIVES LETTER OF INTEREST FROM SOCIETE GENERALE FOR SHAAKICHIUWAANAAN PROJECT FINANCING

PMET Resources Inc. has received a non-binding letter of interest (LOI) from Societe Generale (SG), a leading international corporate and investment bank, in relation to potential project financing for the phase 1 development of the company's 100-per-cent-owned Shaakichiuwaanaan project, located in the Eeyou Istchee James Bay region of Quebec, Canada.

Under the LOI, SG has expressed interest in participating as a mandated lead arranger for potential debt financing package. The LOI represents another important step in advancing PMET's long-term financing strategy and aligns with PMET's objective to assemble a high-quality syndicate of internationally recognized mining project finance lenders and export credit agencies. This builds on the recently announced support and engagement from EDC, KfW IPEX-Bank and an additional major Canadian financial institution.

The LOI is intended to facilitate lender due diligence, including technical, environmental and commercial reviews, as PMET advances toward completion of its updated feasibility study targeted for calendar Q4 2026.

Natacha Garoute, chief financial officer, comments: "Societe Generale brings extensive global mining project finance expertise, including meaningful experience financing Quebec-based mining assets. Their interest further reinforces the quality, scale and strategic importance of the Shaakichiuwaanaan project. We look forward to working closely with the SG team as we progress lender due diligence and continue building a robust financing syndicate to support the development of phase 1."

The company cautions that this letter is preliminary, non-binding and conditional in nature. It does not constitute a credit approval, financing commitment or definitive financing arrangement. Any future financing remains subject to satisfactory completion of comprehensive due diligence (including a site visit by SG), internal management and credit approvals, agreement on commercial terms, and final documentation. Financing discussions continue to progress in parallel with permitting, engineering optimization, product marketing and continuing strategic commercial engagement.

About PMET Resources Inc.

PMET Resources is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100-per-cent-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 (million tonnes) at 1.26 per cent Li2O (probable). The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to approximately 800,000 tpa (tonnes per annum) 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 totalling 108.0 Mt at 1.40 per cent Li2O and 166 ppm Ta2O5 (indicated) and 33.4 Mt at 1.33 per cent Li2O and 155 ppm Ta2O5 (inferred), and ranks as a top 10 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 per cent Cs2O (indicated) and 1.70 Mt at 2.40 per cent Cs2O (inferred).

Qualified/competent person

The technical and scientific information in this news release that relates to the mineral resource estimate for the company's properties is based on, and fairly represents, information compiled by Darren L. Smith, MSc, PGeo, 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 Geologues du Quebec (geologist permit No. 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member No. 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 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 Frederic Mercier-Langevin, Ing MSc, who is a qualified person as defined by National Instrument 43-101, and member in good standing with the Ordre des Ingenieurs du Quebec. 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, and holds common shares, RSUs, PSUs and options in the company.

We seek Safe Harbor.