PMET signs transshipment agreement with Matagami for Shaakichiuwaanaan lithium project

MONTREAL, Oct. 5, 2026 /PRNewswire/ -- October 5 – Sydney, Australia

• Letter of Intent ("LOI") signed with the City of Matagami for the planned transshipment of spodumene concentrate, transferring the concentrate inbound from the mining site via trucks to rail cars outbound to port at Matagami's transshipment yard.
• LOI establishes a framework for the infrastructure upgrades and long-term transshipment services required to support the planned concentrate logistics route to market.
• LOI represents an important step in advancing the Project's supporting infrastructure and logistics. The Company is targeting a definitive commercial agreement with Matagami prior to a Final Investment Decision for Shaakichiuwaanaan.

PMET's chief Operating Officer, Frédéric Mercier-Langevin, commented: "The LOI with Matagami marks another tangible step in advancing the infrastructure required to support the development of Shaakichiuwaanaan. Transshipment at Matagami is expected to provide a key link in our planned logistics chain, connecting concentrate trucked from the Project to onward rail transportation. We look forward to working closely with the City of Matagami to progress the required infrastructure and commercial upgrades as we continue to advance Shaakichiuwaanaan towards a Final Investment Decision."

PMET Resources Inc. (the "Company" or "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce that it has signed a Letter of Intent ("LOI") with the City of Matagami for transshipment services to support the Company's Shaakichiuwaanaan Project in Quebec.

Under the planned transportation arrangement, spodumene concentrate would be trucked from Shaakichiuwaanaan to Matagami's existing transshipment yard, where it would be transferred to rail for onward transportation to port. The LOI establishes the principles for infrastructure upgrades and operating arrangements required to support this activity, advancing an important component of the project's planned logistics chain.

The parties intend to finalize a definitive commercial agreement before the Company announces a Final Investment Decision for Shaakichiuwaanaan. Infrastructure contributions, service pricing, and detailed operating arrangements remain subject to further negotiation and agreement between the parties.