Peak Project Core Fundamentals<\/b><\/p>\n
Independent testing.<\/b> Work to date has been supported by APEX Geoscience, Kemetco Research, Forte Dynamics and the University of Texas at Austin.<\/p>\n
Heavy rare earth profile.<\/b> Analytical work showed heavy rare earth elements plus yttrium averaging 2.09 times the light rare earth elements.<\/p>\n
Material already mined.<\/b> Two decades of railway ballast crushing at the Sierra Blanca Quarry produced pre-crushed fines materials that are stockpiled on surface. The Company\u2019s 2022 technical report described the material as already mined, crushed, conveyed and stockpiled.<\/p>\n
Secured feedstock position.<\/b> The pre-crushed fines stockpiled material is accessible to Tactical under a 2026 purchase and sale agreement, together with an option over the quarry operation itself.<\/p>\n
\nRanjeet Sundher, Chief Executive Officer of Tactical, said, \u201cPeak is a very special project in this sector because the potential feedstock material is already out of the ground. Two decades of quarry operations produced it, and it is sitting on surface in West Texas. Our technical work has concentrated on whether that material can be processed, and on the heavy rare earth profile it carries, which is where the United States is most exposed. With the Nasdaq listing complete, we are moving the project into its next phase.\u201d<\/p>\n
Peak\u2019s Rare Earth Momentum<\/b><\/p>\n
Work Completed to Date<\/b><\/p>\n
\nSince acquiring its interest in the Peak Project, Tactical has advanced work across field sampling, independent assaying, quality assurance and quality control, mineralogical studies, drone surveys, scoping metallurgical testing, sample characterization, bench-scale leach testing, vat-leach testing, permeability testing and project planning. This work has established a technical base for the next work program, which includes exploration and an assessment of mineral resources.<\/p>\n
Independent Geological Foundation<\/b><\/p>\n
\nTactical\u2019s 2021 program collected samples from the active and historical quarry areas. The samples were analyzed by an independent accredited laboratory, reviewed by independent Qualified Persons, who found that the data were suitable for the report and potential future mineral resource modelling.<\/p>\n
\nIn September 2022, Tactical filed the initial NI 43-101 \/ SK-1300 technical report for Peak. Prepared by APEX Geoscience Ltd. and Kemetco Research Inc., the report summarized the Company\u2019s 2021 and 2022 exploration and metallurgical work and set out recommendations for a two-phase work program.<\/p>\n
Heavy Rare Earth Element and Mineralogical Profile<\/b><\/p>\n
\nTactical\u2019s analytical dataset (n=40 samples) showed that heavy rare earth elements plus yttrium (\u201cHREE+Y\u201d) averaged 2.9 times the light rare earth elements (\u201cLREE\u201d). Additionally, independent samples collected by the Qualified Person during a site inspection (n=8 samples) returned a comparable profile and validated the HREE mineralization and other elements. The material also showed enrichment in lithium, niobium, rubidium, yttrium and zirconium.<\/p>\n
\nMineralogical work at the University of Texas at Austin identified accessory minerals including cassiterite, columbite, yttrofluorite, yttrocerite, thorite and zircon. Two drone surveys completed by Texas registered land surveyors mapped the active pre-crushed fines stockpile.<\/p>\n
Metallurgical Results<\/b><\/p>\n
\nInitial metallurgical test work conducted by Kemetco assessed direct-leach amenability and maximum extraction potential across four leach conditions. Results from all four are reported below. Extraction response varied widely by reagent and test condition, from less than 25.3 percent to 96.1 percent.<\/p>\n
\nPreliminary total rare earth elements plus yttrium (\u201cTREE+Y\u201d) extraction rates were as follows:<\/p>\n
- \n
- \nAmbient-temperature hydrochloric acid bottle-roll: less than 25.3 percent<\/p>\n<\/li>\n
- \nAmbient-temperature sulfuric acid bottle-roll: 88 percent to 93 percent<\/p>\n<\/li>\n
- \nHeated sulfuric acid agitated-tank: 89 percent to 90 percent<\/p>\n<\/li>\n
- \nHeated hydrochloric acid agitated-tank: 95.6 percent to 96.1 percent<\/p>\n<\/li>\n<\/ul>\n
\nThe work also identified lithium as a potential by-product for further study. Heated hydrochloric acid agitated-tank tests returned lithium extraction results of 66.2 percent to 87.6 percent, while acid-bake and water-leach tests returned 90 percent to 96 percent lithium extraction.<\/p>\n
\nThese were scoping-scale results from composite samples. They do not establish commercial-scale recovery. Further work is required on material variability, reagent consumption, impurity removal, leach-solution processing, production of saleable products, water balance, and by-product and waste handling.<\/p>\n
Phase 1 Metallurgical Work Program<\/b><\/p>\n
\nIn May 2024, Tactical reported that sample characterization, bench-scale leach testing, vat-leach testing and permeability testing had been completed, with data analysis and reporting in progress. Currently, column-leach testing results and internal desktop benchmarking and scoping studies are ongoing.<\/p>\n
\nThe programs were designed to build an initial geometallurgical database, assess leaching at fine and coarse particle sizes, evaluate hydraulic conductivity of potential feed blends and identify project value drivers. Tactical also engaged Forte Dynamics Inc. to review available data, conduct a gap analysis and develop a roadmap toward a preliminary economic assessment.<\/p>\n
\nThe 2022 technical report recommended future sonic drilling, geophysical surveys, core sampling and bench- and column-scale metallurgical testing, followed, if warranted, by advanced metallurgy, demonstration plant planning, permitting and environmental work, community engagement and technical reporting.<\/p>\n
Next Phase of Technical Work<\/b><\/p>\n
\nBuilding on the work completed to date and pending the receipt and review of the results from the Phase-1 Metallurgical Work Program, Tactical is starting to pre-plan the next phase of work at the Peak Project. Key areas of focus are intended to include:<\/i><\/p>\n
- \n
- \nFinalizing Phase-1 work program results<\/p>\n<\/li>\n
- \nAdvancing process development<\/p>\n<\/li>\n
- \nDeveloping permitting and environmental roadmaps<\/p>\n<\/li>\n
- \nGrowing downstream strategic partnerships<\/p>\n<\/li>\n
- \nEstablishing engineering workflows<\/p>\n<\/li>\n
- \nExpanding exploration and geological studies<\/p>\n<\/li>\n
- \nUpdating Technical Reports<\/p>\n<\/li>\n<\/ul>\n
\nThe company\u2019s immediate efforts are aimed at accelerating project growth and development activities in support of future fast-tracked production decisions.<\/p>\n
Project Background<\/b><\/p>\n
\nPeak is located within the active Sierra Blanca Quarry, approximately 90 miles southeast of El Paso. The project focuses on rare earth-enriched pre-crushed fines stockpiles generated by quarry operations. The Company\u2019s 2022 NI 43-101 \/ SK-1300 technical report described the material as already mined, crushed, conveyed and stockpiled, and identified road access, a rail spur, power and space for project work at the quarry.<\/p>\n
Secured Feedstock Position<\/b><\/p>\n
\nIn March 2026, Tactical entered into a Purchase and Sale Agreement with Sierra Blanca Quarry, LLC covering approximately four million tons of pre-crushed fines stockpiled material generated by the ballast crushing plant, rights to additional stockpiled fines materials produced thereafter, and an exclusive option to acquire 100 percent of the membership interests of Sierra Blanca Quarry, LLC through a blend of cash and stock. The agreement has an initial term expiring July 31, 2036. In April 2026, the Company entered into an Asset Purchase Agreement converting approximately 1.5 million tons of that fines materials access into secured ownership, the first tranche within a staged acquisition strategy. The agreements remain subject to their respective terms and conditions.<\/p>\n
\nNo mineral resources or mineral reserves have been estimated for the pre-crushed fines stockpiled material. The tonnage figures above are derived from the Company\u2019s commercial agreements rather than from an estimate of mineral resources or mineral reserves.<\/p>\n
\nThe Company\u2019s common shares began trading on the Nasdaq Capital Market under the symbol \u201cTREO\u201d on August 20, 2026. The listing provides access to U.S. capital markets as Tactical continues technical, engineering and permitting work at Peak.<\/p>\n
Technical Disclosure<\/b><\/p>\n
\nThe scientific and technical information in this release is based on the Company\u2019s NI 43-101 technical \/ SK-1300 report with an effective date of September 15, 2022, and prior Company disclosures. The Peak Project remains an early-stage project, and Tactical has not completed mineral resource estimation work.<\/p>\n
\nRoy Eccles P. Geol. of APEX Geoscience Ltd., an independent \u201cqualified person\u201d as defined by National Instrument 43-101 \u2013 Standards of Disclosure for Mineral Projects and is independent of the company, has reviewed and approved the geologic scientific and technical information in this press release as they relate to the geological sections of the technical report he is responsible for.<\/p>\n
\nNorman Chow M.A.Sc., P. Eng. President of Kemetco Research Inc., an independent \u201cqualified person\u201d as defined by National Instrument 43-101 \u2013 Standards of Disclosure for Mineral Projects and is independent of the Company, has reviewed and approved the metallurgical scientific and technical information in this press release as they relate to the sections of technical report he is responsible for.<\/p>\n
About Tactical Resources<\/b><\/p>\n
\nTactical Resources is a natural resources company focused on rare earth elements critical to advanced technologies, including semiconductors, electric vehicles, robotics, aerospace systems, and national defense applications. The Company is advancing the Peak Project in Hudspeth County, Texas, as part of its strategy to help build a secure domestic supply chain, reduce reliance on foreign-controlled sources and strengthen North American critical mineral security.<\/p>\n
\nTactical Resources is also pursuing innovative metallurgical processing and separation technologies designed to improve the economics, scalability, and sustainability of rare earth production. Through this integrated approach, the Company aims to become a key participant in the rapidly growing U.S. critical minerals ecosystem.<\/p>\n
\nFor additional information, please visit www.tacticalresources.com<\/a>.<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nCertain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cmay,\u201d \u201ctarget,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result,\u201d \u201cpreliminary,\u201d or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Tactical\u2019s or its management team\u2019s expectations concerning the outlook for Tactical\u2019s business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions, or economic performance and developments in the capital and credit markets and expected future financial performance, including expected net proceeds, expected additional funding, the support of key stakeholders in the U.S. government, growth prospects and outlook of Tactical\u2019s operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Tactical\u2019s projects, as well as any information concerning possible or assumed future results of operations of Tactical. Forward-looking statements also include statements regarding the expected benefits of the Business Combination. The forward-looking statements are based on the current expectations of the management team of Tactical, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the outcome of any legal proceedings that may be instituted against Tactical or Plum related to the Business Combination; (iii) failure to realize the anticipated benefits of the Business Combination; (iv) the risk that the price of Tactical\u2019s securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Tactical plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics\/pandemics, national security tensions, and macro-economic and social environments affecting its business; (v) the inability to implement business plans, forecasts, and other expectations, identify and realize additional opportunities, and manage its growth and expanding operations; (vi) the risk that Tactical may not be able to successfully develop its mining projects, and\/or its expansion plan; (vii) the risk that Tactical will be unable to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (viii) political and social risks of operating in the U.S. and other countries; and (ix) the operational hazards and risks that Tactical faces. The foregoing list is not exhaustive, and there may be additional risks that Tactical presently does not know or that Tactical currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the Registration Statement on Form F-4 and the amendments thereto, which was initially filed by Tactical with the SEC on October 29, 2024. Tactical cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Tactical does not undertake any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Tactical will make additional updates with respect to that statement, related matters, or any other forward-looking statements.<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260921855187\/en\/<\/a><\/span><\/p>\n
Investor Relations:
\n<\/b>
(778) 588-5483
\n
investors@tacticalresources.com
\n<\/a><\/p>\nMedia:
\n<\/b>
(646) 277-1200
\n
media@tacticalresources.com<\/a><\/p>\nKEYWORDS:<\/b> United States North America Texas<\/p>\n
INDUSTRY KEYWORDS:<\/b> Mining\/Minerals Natural Resources<\/p>\n
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