High-grade lithium, caesium, tantalum pegmatite discoveries in surface exploration
Canada NewsWire PMET's premier James Bay - Quebec geology delivers further exploration success with 2.94% Li 2 O, 16.43% Cs 2 O, and 3,768ppm Ta 2 O 5 in surface samples at its Pontois, Shaakichiuwaanaan, and Pontax properties, respectively. MONTREAL , June 2, 2026 /CNW/ - June 3, 2026 – Sydney, Australia HIGHLIGHTS New high-grade caesium pegmatite discovery ("Cosma") situated ~22 km west of the cornerstone CV5 Pegmatite Deposit on the Shaakichiuwaanaan Property: Outcrop grab assay of  9.42% Cs 2 O and 267 ppm Ta 2 O 5 . Channel assay of  4.4 m at 3.61% Cs 2 O and 609 ppm Ta 2 O 5 , including 0.5 m at 16.43% Cs 2 O. Emerging spodumene pegmatite discovery ("Felix") , located near the western margins of Shaakichiuwaanaan, proximal to the recently acquired Pikwa Property and its Drakkar spodumene pegmatite: Outcrop assays including  1.80% Li 2 O and 1.21% Li 2 O. Multiple mineralized outcrops over ~450 m trend.  Drakkar Pegmatite (2.45% Li 2 O) situated ~550 m to the southwest.
Collectively, the Cosma, Felix, and Drakkar Li-Cs-Ta ("LCT") pegmatite clusters extend the prospective Mickel Trend to ~10.5 km in length – from CV9 to Drakkar, with only ~450 m of strike drill tested at CV9. New spodumene pegmatite discovery ("Skald") at the Pontois Property, with outcrop assay of 2.94% Li 2 O . New caesium pegmatite discovery ("Overload") at the Pontax Property, with outcrop assay of 7.53% Cs 2 O and 3,768 ppm Ta 2 O 5 .
Darren L. Smith, Executive Vice President Exploration for the Company, comments: "The recent surface exploration at Shaakichiuwaanaan has delivered multiple new discoveries with strong results that continue to support the scale and growth potential for lithium, caesium, and tantalum across the Property. The discovery of a new caesium-rich LCT pegmatite occurrence (Cosma), located along the highly prospective Mickel Trend – which also hosts the CV9, CV10, CV14, and CV15 pegmatites – supports the presence of a large, highly-evolved, and fertile LCT pegmatite system within the western area of the Property, which has seen only limited drill testing to date. Additionally, the presence of well-mineralized LCT pegmatites at Pikwa, Pontois, and Pontax demonstrates the strength and prospectivity of the Company's broader portfolio of properties," added Mr. Smith.
PMET RESOURCES INC. (THE "COMPANY" OR "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce multiple new Li-Cs-Ta ("LCT") pegmatite discoveries at its flagship Shaakichiuwaanaan Property, as well as at its broader portfolio of properties (Pikwa, Pontois, and Pontax), all located in Eeyou Istchee James Bay, Quebec ( Figure 1 ). In addition to the Company's core discoveries and resources at the CV5 and CV13 pegmatites, exploration activities continue within the near-field core Shaakichiuwaanaan area and across the adjacent regional tenure ( Figure 2 ). Collectively, the Shaakichiuwaanaan, Pikwa, and Pontois properties cover more than 70 km of continuous and highly prospective greenstone belt, which the Company believes to be the most significant trend for LCT pegmatites in North America.
The Shaakichiuwaanaan Property is the Company's flagship asset and hosts one of the largest pegmatite Mineral Resources 1 (Li, Cs, Ta) and Mineral Reserves 2 (Li) in the world ( Figure 1 and Figure 2 ), situated approximately 13 km south of the regional and all-weather Trans-Taiga Road (accessible year-round by road) and Hydro Quebec infrastructure corridor. The Company recently announced a robust lithium-only Feasibility Study for the CV5 Pegmatite, which positions the Project as a potential North American critical mineral powerhouse (see news release dated October 20, 2025 ).   SHAAKICHIUWAANAAN (PLUS PIKWA AND PONTOIS) Cosma LCT Pegmatite Several outcropping and well-mineralised LCT pegmatite discoveries have been made at Shaakichiuwaanaan in recent surface exploration. This includes the Cosma Pegmatite (outcrop), which returned significant grades of caesium and tantalum in initial grab sampling in 2025 – 9.42% Cs 2 O and 267 ppm Ta 2 O 5 (0.01% Li 2 O).
Follow-up channel sampling returned 4.4 m at 3.61% Cs 2 O and 609 ppm Ta 2 O 5 , including 0.5 m at 16.43% Cs 2 O (CH25-133), confirming the significance of the surface exposure ( Figure 2  and Figure 3 ). The Cosma Pegmatite is expressed at surface as a ~8 x 4 m white outcrop and is open in multiple directions. The outcrop is situated approximately 2.5 km along trend to the west-southwest of the CV15 pegmatite cluster and – together with the Felix and Drakkar spodumene pegmatites discussed below – now extends the Mickel LCT Pegmatite Trend to ~10.5 km (from the previous 5.5 km) ( Figure 4 ).
Of this ~10.5 km length, only the CV9 Pegmatite – at the eastern-most end of the trend – has been drill tested. Drill results at CV9 include 30.6 m at 0.80% Li 2 O (CV23-345), 10.8 m at 1.00% Li 2 O (CV23-267), and 7.7 m at 1.35% Li 2 O (CV23-333), with an area of the pegmatite estimated at up to 80 m true width, demonstrating significant scale potential (see news release dated April 8, 2024 ). Cosma is the westernmost occurrence of caesium pegmatite encountered at Shaakichiuwaanaan to date.
The discovery is very encouraging, as most caesium deposits (apart from the world-class Vega Caesium Zone at the CV13 Pegmatite held by the Company) tend to be on the order of tens- to hundreds-of-thousands of tonnes. Therefore, relatively small occurrences can mark very material discoveries – especially when exposed at surface. The Company intends to follow-up on this discovery during the 2026 surface program.
A total of 355 rock samples (outcrop, boulder, and channels) were collected during the 2025 exploration of the Shaakichiuwaanaan Property, with results ranging from <0.01 to 4.51% Li 2 O, <5 to 2,580 ppm Ta 2 O 5 , and <0.01 to 16.43% Cs 2 O. Exploration was focused on LCT pegmatite. Felix & Drakkar LCT Pegmatites Additionally, the Company is pleased to announce an emerging discovery of LCT Pegmatite called Felix , located near the western margins of the Shaakichiuwaanaan Property, proximal to the recently acquired Pikwa Property and its Drakkar Spodumene Pegmatite. The Felix Pegmatite is characterized by a cluster of multiple mineralized outcrops spread over a ~450 m trend, with assays including 1.80% Li 2 O and 1.21% Li 2 O in outcrop .
Channel sampling at Felix is planned for the 2026 exploration field program. The Drakkar LCT Pegmatite (2.45% Li 2 O in outcrop), discovered by Azimut Exploration and Soquem, is situated ~550 m to the southwest of the Felix Pegmatite on the adjoining Pikwa Property, which is now held 100% by the Company (see news release dated November 12, 2025 ). The Company is currently designing an inaugural surface exploration program at Pikwa, which will be focused on LCT pegmatite.
Historical exploration of the Pikwa Property was focused on base and precious metals with several notable discoveries including the Hyperion Prospect 3  ( 7.17 g/t Au in outcrop) and the Copperfield Prospect 4 ( 13.45 g/t Au, 9.81 % Cu, and 37.6 g/t Ag in outcrop). However, the primary greenstone belt trend has seen only limited exploration focused on LCT pegmatite ( Figure 5 ). Skald LCT Pegmatite The Skald LCT Pegmatite was discovered in 2025 during surface exploration of the Pontois Property, which is situated immediately adjacent to the western border of the Pikwa Property ( Figure 5 ).
The Skald Pegmatite is characterized by a spodumene-bearing pegmatite outcrop of ~2 m x 3 m in size (open), with a sample assay of 2.94% Li 2 O and 60 ppm Ta 2 O 5 . The discovery is very promising as it highlights the potential of the ~12 km's of highly prospective greenstone belt corridor at the Pikwa Property where only limited LCT pegmatite exploration has been completed historically. Coupled with Pikwa and Shaakichiuwaanaan, the Company controls more than 70 km of the La Grande Greenstone Belt, which is considered highly prospective for LCT pegmatite and is host to the world-class CV5 (Li-Ta) and CV13 (Li-Cs-Ta) pegmatite deposits currently under development.  A total of 69 rock samples (outcrop and boulder) were collected during the 2025 exploration of the Pontois Property, with results ranging from <0.01 to 2.94% Li 2 O, <5 to 60 ppm Ta 2 O 5 , and <0.01% to 0.077% Cs 2 O. Exploration was focused on LCT pegmatite.   Pontax In 2025, surface exploration of the Company's Pontax Property resulted in the discovery of the Overload Caesium-Tantalum Showing with an outcrop sample assaying 7.53% Cs 2 O and 3,768 ppm Ta 2 O 5 ( Figure 6 ).
The sample was collected from a 0.5 - 1 m wide by >50 m long white pegmatite dyke, which remains open along strike. Although not identified during field observations, the presence of pollucite (and likely columbo-tantalite) are inferred given the grades, as well as mineralogy confirming the presence of both minerals at the nearby Resisto Showing. Next to Pikwa, the Pontax Property is the most advanced regional asset in the Company's portfolio.
Prior exploration has discovered a multi-kilometre long trend containing a significant number of well-mineralized (in Li and Ta) LCT pegmatite outcrops – namely, Resisto (2.86% Li 2 O; 9,152 ppm Ta 2 O 5 ), Inducto (2.69% Li 2 O; 397 ppm Ta 2 O 5 ), and Capacito (3.81% Li 2 O; 365 ppm Ta 2 O 5 ) ( Figure 5 ). The Resisto Showing is the most significant occurrence, characterized by a swarm of white pegmatite outcrops, with channel sampling (completed in 2022) returning considerable tantalum grades – 12.1 m at 0.55% Li₂O and 2,166 ppm Ta ₂O ₅ , including 4.0 m at 4,596 ppm Ta ₂O ₅. The Overload Showing is situated approximately 1.6 km along strike of the Resisto Showing, with the prospective trend now expanded to over 3.7 km between Capacito and Overload .
None of the showings along this trend have been drill tested. A total of 54 rock samples (outcrop and boulder) were collected during the 2025 exploration of the Pontax Property with results ranging from <0.01% to 2.65% Li 2 O, <5 to 3,768 ppm Ta 2 O 5 , and <0.01% to 7.53% Cs 2 O. Additionally, one sample collected from an amphibolite outcrop, approximately 35 m from the Overload Showing, assayed 1.02 g/t Au, 17 g/t Ag, and 1.11% Cu (the "Subordi" Showing). Exploration was focused on LCT pegmatite.
Next Steps The 2025 surface exploration programs at Shaakichiuwaanaan, Pontois, and Pontax, included geological mapping, regional prospecting, and surface sampling and was focused on the discovery of new LCT pegmatite occurrences. Collectively, over 400 rock samples were collected in 2025, with notable LCT pegmatite occurrences discovered at each of the three properties. The discoveries highlight the prospective nature of the Company's broader portfolio of properties, and further enhance the prospectivity of its flagship Shaakichiuwaanaan asset.   The Company is currently planning follow-up surface work in 2026 at its Shaakichiuwaanaan, Pikwa (inaugural program), and Eastmain properties, and is evaluating options for the next stage of exploration at Pontax.
QUALITY ASSURANCE / QUALITY CONTROL (QAQC) The Company has relied on internal laboratory checks and blank / certified reference material insertion for surface rock samples. Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled. All surface samples collected were shipped to SGS Canada's laboratory in Val-d'Or, QC, for sample preparation (code PRP90 special) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns.
The pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50). Overlimits for Cs were completed at SGS Canada's laboratory in Lakefield, ON, by borate-fusion XRF (code GC_XRF76V). QUALIFIED/COMPETENT PERSON The technical and scientific information in this news release that relates to the Mineral Resource  Estimate and exploration results for the Company's properties is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 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 Inc. 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 Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec.
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 Inc. and holds common shares, RSUs, PSUs, and options in the Company. 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% Li 2 O (Probable) 5 . 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 6 totalling 108.0 Mt at 1.40% Li 2 O and 166 ppm Ta 2 O 5  (Indicated) and 33.4 Mt at 1.33% Li 2 O and 155 ppm Ta 2 O 5  (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% Cs 2 O (Indicated), and 1.70 Mt at 2.40% Cs 2 O (Inferred). For further information, please contact us at info@pmet.ca  or by calling +1 (604) 279-8709, or visit www.pmet.ca .
Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca  and www.asx.com.au , for available exploration data. This news release has been approved by " KEN BRINSDEN "                                                          Kenneth Brinsden, President, CEO, & Managing Director DISCLAIMER FOR FORWARD-LOOKING INFORMATION This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. All statements, other than statements of present or historical facts, are forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as "continue", "support", "potential", "to date", "prospectivity", "intends", "follow-up", "2026 program", "development", "next steps", "progress" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.  Forward-looking statements include, but are not limited to, statements concerning the scale and growth potential for lithium, caesium and tantalum across the Property, the presence of a large and highly-evolved LCT pegmatite system within the western area of the Property , the strength and prospectivity of the Company's broader portfolio, the Project's potential as a North American critical mineral powerhouse, the Company's ability to follow-up on the Cosma discovery during the 2026 surface program, the prospectivity of the Company's flagship Shaakichiuwaanaan asset, the Company's ability to follow-up on surface work at Shaakichiuwaanaan and Pikwa (inaugural program) in 2026 and further progress exploration at Pontax.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the ability to make discoveries, the potential of each of tantalum, lithium, caesium as a co-product, the ability to complete an updated Feasibility Study for the CV5 Pegmatite with the addition of tantalum as a co-product, as well as a Preliminary Economic Assessment for the broader Project inclusive of lithium, caesium, and tantalum, that proposed exploration work on the Property and the results therefrom will continue as expected, the accuracy of reserve and resource estimates, the classification of resources and the assumptions on which the reserve and resource estimates are based, long-term demand for lithium (spodumene), tantalum (tantalite), and caesium (pollucite)  supply, and that exploration and development results continue to support management's current plans for the Property's development.
Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Readers should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements. The forward-looking statements contained herein are made only as of the date hereof.
The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements. COMPETENT PERSON STATEMENT (ASX LISTING RULES) The information in this news release that relates to the Feasibility Study ("FS") for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled " PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project " dated October 20, 2025 (Montreal time) is available on the Company's website at www.pmet.ca , on SEDAR+ at www.sedarplus.ca  and on the ASX website at www.asx.com.au .
The production target from the Feasibility Study referred to in this news release was reported by the Company in accordance with ASX Listing Rule 5.16 on the date of the original announcement. The Company confirms that, as of the date of this news release, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed. The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rule 5.8 in market announcements titled " World's Largest Pollucite-Hosted Caesium Pegmatite Deposit " dated July 20, 2025 (Montreal time) and " PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project " dated October 20, 2025 (Montreal time) and are available on the Company's website at www.pmet.ca , on SEDAR+ at www.sedarplus.ca  and on the ASX website at www.asx.com.au .
The Company confirms that, as of the date of this news release, it is not aware of any new information or data verified by the competent person that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement. APPENDIX 1 – JORC CODE 2012 TABLE 1 (ASX LISTING RULE 5.7.1) Section 1 – Sampling Techniques and Data Section 2 – Reporting of Exploration Results   View original content to download multimedia: https://www.prnewswire.com/news-releases/new-high-grade-lithium-caesium-and-tantalum-pegmatite-discoveries-in-surface-exploration-works-302788190.html SOURCE PMET Resources Inc. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2026/02/c7678.html Canada Newswire June 2, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com