Highlights

• PMET has signed a non-binding Letter of Intent with the Cree Nation of Chisasibi, to provide a structured framework for engagement, information-sharing, discussion, and process clarity in respect of the proposed Shaakichiuwaanaan Project.
• The LOI does not constitute consent to, approval of, or endorsement for the Shaakichiuwaanaan Project.
• During the Engagement and Assessment Period, Chisasibi and PMET intend to build and maintain a respectful working relationship during which the parties may exchange information and perspectives, identify questions or concerns, and discuss potential benefits, risks, impacts, mitigation measures, capacity considerations, and community priorities.
• Under the LOI, the parties intend to establish time-limited, subject-matter focused working groups to support discussion and information exchange on specific topic areas, which may include training, employment, skills development, local economic development, environment, transportation and other matters of interest.

Ken Brinsden, CEO and Managing Director, comments: “Since 2022, the Company has engaged with Chisasibi regarding the Company’s exploration activities at the Shaakichiuwaanaan Project. This has included community consultation and local employment initiatives. During 2025, approximately 25% of the site’s workforce were Cree.

“As the Company continues the review, permitting, and planning process for the Project, the LOI provides a framework for continued engagement, discussion, and information sharing with Chisasibi. We look forward to providing further information and continuing discussions regarding the Shaakichiuwaanaan Project including potential training, employment, and business development opportunities, while respecting Chisasibi’s own governance and decision-making processes,” Mr Brinsden added.

PMET RESOURCES INC.  (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce that it has signed a non-binding Letter of Intent with the Cree Nation of Chisasibi in respect of the Company’s 100%-owned Shaakichiuwaanaan Project, located in the Eeyou Istchee James Bay region of Quebec, Canada, within Chisasibi traditional territory on Category III Lands.

The purpose of the non-binding LOI is to describe a process for engagement, information-sharing, and discussions between the PMET and the Cree Nation of Chisasibi during the Engagement and Assessment Period. The LOI is intended to support analysis, dialogue and learning so that Chisasibi can assess information, identify questions or concerns, and determine, through its own governance and decision-making processes, whether and on what basis it may wish to engage further.

During the Engagement and Assessment Period, Chisasibi and PMET intend do:

• Engage in respectful dialogue grounded in openness, transparency, and mutual understanding.
• Share information and perspectives to support understanding of the Shaakichiuwaanaan Project and its potential implications.
• Identify questions or concerns and discuss potential benefits, risks, impacts, and mitigation measures.
• Discuss capacity considerations, constraints, and readiness needs on that may inform Chisasibi’s independent assessment and any decision it may make, in its sole discretion, as to whether, when, and on what basis it may wish to engage in any future discussions or processes, including with respect to a potential Impact Benefit Agreement (IBA).

The LOI identifies guiding principles for engagement during the Engagement and Assessment Period, including:

• Transparency and good faith: information will continue to be shared in a timely and transparent manner to support understanding of relevant issues.
• Respect for Cree governance and community: Chisasibi’s governance structures, land users, and community perspectives will be heard in accordance with Chisasibi’s processes.
• Respect for Chisasibi decision-making: Chisasibi will determine its positions and any decisions in accordance with its own governance processes.
• Two-way dialogue: discussions are intended to support the exchange of information, clarification of issues, and mutual understanding.
• Care for land, water, wildlife, and people: concerns related to the environment, health, and community well-being may be identified and considered as part of the assessment process.
• Identification of areas of interest: the parties intend to discuss areas of mutual interest, including training, employment, environment and business opportunities.

Potential next steps under the LOI include the establishment of time-limited, subject-matter focused working groups, with participation determined by each party in its sole discretion, to support discussion and information exchange regarding specific topic areas. Working groups are intended as discussion forums and will provide recommendations. They will not have authority to make decisions, establish commitments, or bind either party. Potential topic areas include training, employment, skills development, local economic development, environment, transportation, and other matters of interest.

The Company also thanks the Cree Nation of Chisasibi for hosting Company representatives in the community and for the time provided by Council to learn about and discuss the Project as part of the ongoing engagement and assessment process.

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% Li₂O (Probable)[1]. 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[2] 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).