PMET Resources (PMET) Corporate presentation summary

Project overview and resource significance

• Shaakichiuwaanaan is a globally significant LCT pegmatite deposit, hosting lithium, caesium, and tantalum, with potential for simultaneous production of all three minerals via simple processing methods.

• The project contains the largest lithium pegmatite resource in the Americas and the world's largest pollucite-hosted caesium pegmatite resource, as well as one of the largest tantalum pegmatite resources globally.

• Consolidated mineral resource estimate: 108.0 Mt at 1.40% Li₂O (Indicated), 33.4 Mt at 1.33% Li₂O (Inferred), with significant caesium and tantalum grades.

• Proven management team with a strong track record and C$182M cash on hand to advance development.

Financials and feasibility study highlights

• Feasibility Study (FS) for CV5 targets ~800 ktpa production, 20-year mine life, and positions the project as the 4th largest spodumene producer globally.

• After-tax NPV8% of C$1.6B (US$1.2B), IRR of 18%, and payback period of 4.7 years; project net capex of C$1,510M.

• Total cash operating costs estimated at US$544/t (FOB Grande-Anse), AISC at US$597/t, with robust cost competitiveness.

• Project NPV is highly sensitive to lithium prices, with a C$450M NPV change per US$100/t SC5.5 price increment.

Development strategy and milestones

• Staged development: initial lithium-only operation, with future expansion into caesium and tantalum co-products.

• Updated FS underway to include tantalum recovery and optimized mine sequencing; CV13 PEA to assess multi-mineral scope.

• Key upcoming catalysts: ESIA submission, Nova Zone bulk sample, updated FS, metallurgy updates, and expanded drilling in 2026.

• Targeting FID in 2027 and commissioning from late 2029, aligning with projected lithium supply gaps.