Mr. Kenneth Brinsden reports

PMET RESOURCES FILES AMENDED VERSION OF ITS NI 43-101 TECHNICAL REPORT ON THE CV5 LITHIUM-ONLY FEASIBILITY STUDY PREVIOUSLY PUBLISHED IN 2025 ON ITS SHAAKICHIUWAANAAN PROJECT

Following a routine review pursuant to the continuous disclosure review program by the AMF, PMET Resources Inc. has filed on SEDAR+ an amended version, with an unchanged effective date of Oct. 20, 2025, an issue date of Nov. 14, 2025, and an amended date of Oct. 2, 2026, of its previously filed technical report for the Shaakichiuwaanaan project titled "CV5 Pegmatite Lithium-Only Feasibility Study NI 43-101 Technical Report - Shaakichiuwaanaan Project," prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The amended technical report is a reissuance of the results originally announced in the Oct. 20, 2025, news release by the company announcing a positive lithium-only feasibility study (FS) on the CV5 pegmatite outlining the potential for a large-scale mining operation at the Shaakichiuwaanaan project.

Following a routine review by the Autorite des marches financiers (AMF), the government agency responsible for regulating securities in the province of Quebec, Canada, the company has filed an amended technical report correcting certain compliance-related irregularities.

Highlights

• The clarification, formatting and additional disclosure in the amended technical report have no impact on the economic or technical conclusions of the 2025 lithium-only FS (as defined below) which remain as previously stated.
• The refiling is not to be confused with the previously announced updated feasibility study inclusive of tantalum economics that is currently under way which the company intends to release in Q4 of this year.

The amended technical report addresses comments requesting clarification, formatting and additional disclosure for compliance purposes in a small number of areas, including, qualified persons' certificates content, improper scaling and map formatting, clarifications with respect to the reasonable prospects for eventual economic extraction for caesium, tantalum and gallium, and clarifications with respect to the cut-off grade for caesium oxide.

The corrections causing the refiling do not, in any way, shape or form, affect the economic or technical conclusions of the FS. Furthermore, this amended technical report is not to be confused with the previously announced updated feasibility study inclusive of tantalum economics that the company currently has under way and intends to release in Q4 of this year.

The amended version of the report is available on SEDAR+ and will be available shortly thereafter on the company's website. Readers are encouraged to read the amended technical report in its entirety, including all qualifications, assumptions, exclusions, and risks that relate to the mineral resource, mineral reserve and life of mine plan. The amended technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

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 (parts per million) 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 (s)

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 Darren L. Smith, MSc, PGeo, who is a qualified person as defined by National Instrument 43-101, 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.

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 Exploration 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 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.