Pancontinental Energy (PCL) Q4 2025 TU earnings summary

Executive summary

• Advanced exploration in North Sweden identified key mineralised structures with high uranium, zinc, and rare earth oxide grades in rock chip samples, supporting next-stage target definition.

• 441 drill core samples from 36 historical holes are at the lab for multi-element assays to refine exploration targets.

• Initiated discussions with potential partners to unlock value from non-core deeper unconformity uranium targets.

• Focus remains on shallow uranium and green energy metal projects in Sweden and Canada.

Segment performance

• North Sweden projects (Virka, Björkberget, Rävaberget, Trollberget) yielded high-grade uranium (up to >5.9% U3O8), zinc (up to 9.8%), and rare earths in surface and boulder samples.

• Historic drilling at Virka confirmed shallow uranium mineralisation, with intervals such as 9m at 1,087 ppm U3O8 and 12m at 380 ppm U3O8 remaining open down dip and along strike.

• Canadian projects in the Athabasca Basin (Geikie, Marshall, North Millennium) advanced with new claims staked, geophysical surveys, and joint venture agreements; Geikie drilling identified a 1.5 km alteration zone typical of basement-hosted uranium.

• Marshall and North Millennium projects identified high-priority unconformity uranium targets, with ground EM confirming geological models.

Significant events and developments

• Completed structural relogging of historical drill core across key Swedish projects, guiding future exploration.

• Acquired two additional mineral claims at Geikie, expanding prospective strike length for uranium exploration.

• Converted North Millennium project option into a 40:60 joint venture with CanAlaska, aligning with a focus on shallow basement targets.