Metatek awarded Department of Energy contract in Philippines
Calgary, Alberta--(Newsfile Corp. - August 4, 2026) - Metatek Group Ltd. (TSX: MTEK) ("Metatek" or the "Company"), the exclusive global provider of Enhanced Full Tensor Gravity Gradiometry ("eFTG") and Digital Full Tensor Gravity Gradiometry ("dFTG"), today announced that it has been awarded a multi-disciplinary airborne geoscience data acquisition, processing and interpretation contract by the Department of Energy ("DOE") of the Government of the Philippines following a competitive international tender process.
The program will use Metatek's integrated airborne geoscience technologies to support the DOE's objective of improving its understanding of the country's subsurface geology and identifying areas with potential for future resource development.
"This contract award represents another important milestone for Metatek and reflects the dedication of our technical, commercial and operational teams in working closely with the DOE to understand its objectives and design a program tailored to its requirements," said Dr. Mark Davies, Chief Executive Officer of Metatek.
"As one of Southeast Asia's largest and most geologically prospective countries, the Philippines has significant potential across a broad range of mineral and energy systems. While exploration has been undertaken in many regions, substantial areas have yet to benefit from modern, high-resolution airborne geophysical surveys. Through this program, the DOE will establish an important new geoscience foundation to support future exploration, investment and resource development."
"This award establishes Metatek's first program in the Philippines and further expands our sovereign government portfolio across Southeast Asia and the Pacific Rim, where we are now supporting five national governments through eFTG led programs. It also reinforces our strategy of partnering with governments to build the geoscience foundations that support resource discovery, attract investment and underpin sustainable economic development."
"National geoscience programs are typically delivered in phases over a number of years as governments progressively expand coverage, integrate complementary legacy datasets and refine Areas of Interest for follow-up exploration. The Philippines represents a significant long-term opportunity as additional regions are evaluated using modern airborne geophysical methods. While the timing and scope of future work will remain subject to government priorities and funding, we look forward to supporting the DOE as it continues to advance its understanding of the country's geological potential."
Highlights:
Awarded a multi-disciplinary airborne geoscience data acquisition, processing and interpretation contract by the Department of Energy of the Government of the Philippines.
Selected following a competitive international tender process.
Represents Metatek's first program in the Philippines, further expanding the Company's sovereign government portfolio across Southeast Asia and the Pacific Rim.
Mobilisation of the Company's FTG system and commencement of in-country operations planned for Q4 2026.
About Metatek
Metatek ( www.metatek-group.com ) is a global geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land, and sea environments.
Metatek supports national energy security and helps accelerate the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel, and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.
For further information:
Investor Relations Dennis Fong (416) 283-9930 investorrelations@metatek-group.com
Media Relations Oliver Chesher or Hannah Martland Phone: +44 161 302 0671 Email: oc@galibierpr.co.uk Email: hannah.martland@galibierpr.co.uk
Forward-Looking Information
This press release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "seek", "potential", "estimate", "anticipate", "believe", "could", "would", "should", "continue", "plans", "target", "is/are likely to", or the negative of these terms, or similar expressions intended to identify forward-looking statements.
Forward-looking statements reflect the Company's current views with respect to future events and are subject to various known and unknown risks and uncertainties, which are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Metatek, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These factors may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the timing and execution of the Company's contracts; the ability to mobilize and operate in international jurisdictions; regulatory and permitting processes; the continuation of client relationships; and general economic, geopolitical and industry conditions.
The risks and assumptions outlined above should not be construed as exhaustive. For additional information with respect to certain of these risks or uncertainties and other factors that could affect Metatek's operations and financial results, reference should be made to the section entitled "Risks and Uncertainties" in the Company's MD&A for the fiscal year ended December 31, 2025 and to Metatek's continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Company's most recent Annual Information Form under the section entitled "Risk Factors", which are available under the Company's profile on SEDAR+ at www.sedarplus.ca .
Forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update forward-looking statements except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307901
Newsfile Corp.
August 4, 2026 - 4:21 AM PDT
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