Critical Resources Reports Major Lithium Exploration Progress in Ontario and Confirms High-Grade Tungsten and Gold Prospects in New Zealand

Corona Pegmatite Field Program Uncovers Six New Pegmatite Bodies in Northern Ontario

During the June 2026 quarter, Critical Resources completed a systematic first-pass field mapping program at the Corona Pegmatite target, situated roughly 4 kilometres north of the Main Zone at the Mavis Lake Lithium Project in northwestern Ontario, Canada. The program successfully identified 14 pegmatite bodies along a ~5 kilometre trend, including six previously unmapped occurrences. Field teams collected 106 rock samples, produced 161 outcrop maps, and recorded 74 structural measurements, generating extensive geological and structural data for the underexplored Northern Prospects area.

This data was combined with whole-rock lithogeochemical analyses to distinguish highly evolved lithium-caesium-tantalum (LCT) pegmatites from less fractionated systems. The company’s geochemical work pinpointed top-priority targets for further exploration based on fractionation indicators. Pegmatites in the Corona Pegmatite Field showed slight to moderate magmatic fractionation, while the most highly fractionated pegmatites were concentrated within the northern claim package acquired in August 2025. Permitting and government engagement efforts continued with support from SLR Consulting and Pathway Group, positioning Critical Resources to advance exploration in upcoming quarters.

Northern Prospects Identified as Premier Lithium Target at Mavis Lake

Whole-rock lithogeochemical analyses from samples at Corona Pegmatite Field and Northern Prospects clearly identified the highest-priority exploration targets at Mavis Lake. The most fractionated pegmatites occur within the Northern Prospects Area, where granitic-hosted pegmatites exhibited potassium-rubidium (K/Rb) ratios as low as 17.4. These samples showed enrichment in lithium pathfinder elements, including rubidium up to 5,510 ppm, caesium up to 221 ppm, tantalum up to 53 ppm, and beryllium. These signatures confirm the presence of highly evolved LCT pegmatite systems, establishing Northern Prospects as the top exploration focus.

These geochemical results will be integrated with geological, structural, geophysical, and historical data to prioritize prospecting, refine drill targets, and advance exploration across Northern Prospects. This approach supports Critical Resources’ goal of expanding beyond the current Mineral Resource to develop a multi-deposit lithium district. Since acquiring Mavis Lake in 2022, the company has completed over 58,000 metres of drilling, delivering a maiden 8 Mt @ 1.07% Li 2O JORC Inferred Mineral Resource (May 2023) and an 1829 Mt @ 0.81.2% Li 2O JORC Exploration Target (May 2024).

Granite Creek Tungsten Confirmation Elevates New Zealand Prospect

Critical Resources confirmed high-grade tungsten mineralisation at the Granite Creek target in New Zealand following initial field programs at Croesus and Lammerlaw. Channel sampling at Granite Creek returned a peak grade of 16.63% WO 3 over 0.41 metres (sample A1419). Out of 25 samples, 9 yielded tungsten oxide grades between 0.67% and 16.63%, significantly raising Granite Creek’s priority as a tungsten target within the company’s New Zealand portfolio. This surface tungsten mineralisation confirmation lays a strong foundation for advancing exploration in coming quarters.

To secure future options, Critical Resources lodged an Extension of Land application covering the full mapped Granite Creek pluton and aims to submit an exploration permit application in the second half of 2026. This milestone advances the prospect’s development and aligns with the company’s strategy to build a diversified gold and critical minerals portfolio in New Zealand, where tungsten is increasingly recognized as a strategic critical mineral. This progress offers investors clear visibility on near-term exploration and regulatory milestones.

Croesus Gold-Antimony System Confirmed with High-Grade Surface Samples

Initial field sampling at the Croesus prospect confirmed a structurally controlled gold-antimony mineral system in New Zealand. Samples returned up to 13.3 g/t gold and 0.7% antimony, establishing a discrete mineralised system containing both precious and critical minerals. This surface confirmation supports follow-up exploration and target refinement, with structural controls guiding potential drilling or deeper geochemical surveys.

The Croesus discovery enhances Critical Resources’ New Zealand portfolio, which includes multiple commodities such as gold, antimony, tungsten, and other critical minerals. This diversification positions the company to benefit from varying commodity cycles. The gold-antimony association is particularly significant amid growing global demand for antimony in batteries and electronics, aligning exploration with emerging market drivers.

Lammerlaw Gold Surface Mineralisation Confirmed with 5.42 g/t Sample

Rock-chip sampling at Devils Creek within the Lammerlaw prospect confirmed surface gold mineralisation. A channel sample returned 5.42 g/t gold (sample A0911), while float samples along the interpreted vein strike yielded 1.63 g/t and 1.45 g/t gold respectively. These results demonstrate surface gold continuity and guide future exploration.

Critical Resources is finalizing a follow-up program at Cap Burn, including down-plunge drilling and soil geochemistry across the ~10 km Cap Burn Fault corridor. This program aims to advance the prospect toward a more advanced stage. The fault corridor spans a significant strike length within the New Zealand landholding, offering multiple discovery opportunities. Soil surveys will identify geochemical anomalies to optimize drilling and improve discovery potential.

Halls Peak Base Metals Project – Mayview Prospect Land Access Progressing

Critical Resources is advancing landowner engagement near the Mayview prospect at the Halls Peak Base Metals Project. The company plans a low-impact soil geochemistry survey adjacent to Larvotto Resources’ Hillgrove Antimony-Gold Project. Securing land access and conducting reconnaissance surveys are key steps to establish baseline data and identify priority targets. The Halls Peak project includes multiple base and precious metal prospects within the company’s diversified Australian portfolio.

Engagement with local landowners is progressing positively, reflecting management’s confidence and partner receptiveness. Low-impact surveys minimize environmental disruption while delivering high-quality data. Proximity to Larvotto’s Hillgrove project offers geological context for Mayview. Investors will monitor updates on survey start and assay results, which could materially enhance prospect understanding.

Solid-State Lithium-Ion Battery Technology Reaches Full-Format Pouch-Cell Assembly Milestone

Critical Resources achieved a major technical milestone by assembling a dry-spray-deposition (DSD)-built cathode composite into full-format pouch cells for the first time using a liquid-electrolyte baseline. Initial electrochemical testing is underway, marking a shift from component-level validation to full-cell evaluation. This step is vital for de-risking and generating performance data closer to real-world battery conditions. Full-format pouch cells incorporate multiple layers and complexities absent in single-component tests, providing more relevant commercial viability indicators.

Simultaneously, the company advanced solid electrolyte development by depositing a complete composite layer—cathode, solid electrolyte, and conductive carbon nanotube network—in a single dry, room-temperature step. This work, conducted at the South Dakota School of Mines under the NSF-supported Centers for Energy and Power Systems (CEPS) program, offers manufacturing efficiency advantages that could reduce future production complexity and costs. The amorphous solid-state electrolyte (ASE) demonstrated superionic-class ionic conductivity of 3.2 mS cm B9 and lithium-metal interface stability over 1,200 hours.

Exclusive Worldwide Licence Secured for Two-Phase Spray-Cooling Thermal Management Technology

Critical Resources secured an exclusive worldwide licence for a two-phase spray-cooling technology portfolio targeting batteries and high-density data centre electronics, expanding its technology offerings into thermal management. The technology enables chiller-free operation at near-ambient coolant temperatures (~30 B0C), delivering significant energy efficiency gains over conventional cooling methods. This broadens the company’s scope beyond cell-level battery performance to system-level thermal management, creating additional value opportunities in battery and electronics cooling markets.

This technology addresses critical heat generation challenges in high-energy-density batteries and high-compute data centres by reducing operational power consumption and cooling costs without traditional chillers. The exclusive licence provides strong IP protection and market positioning, complementing the company’s solid-state battery program by enabling integration with optimized thermal management for future commercial applications.

Financial Position and Cash Reserves as of 30 June 2026

Critical Resources reported cash and cash equivalents of A$1.2 million at 30 June 2026. This reflects ongoing investments in exploration across Canadian and New Zealand projects, alongside solid-state battery technology development. The cash position offers investors insight into the company’s financial runway and near-term capital requirements. Monitoring cash levels will be crucial to assess funding for planned exploration and technology advancement without additional capital raises.

The company balances capital allocation between multi-jurisdictional exploration and battery technology development. During the quarter, active field programs continued in Ontario and New Zealand, while technology development progressed through partnerships with research institutions such as the South Dakota School of Mines and exclusive licensing deals. Investors will watch for updates on capital raising, funding partnerships, or exploration spending adjustments if cash reserves decline.

Strategic Vision for Mavis Lake: Developing a Multi-Deposit Lithium District

Critical Resources’ exploration strategy at Mavis Lake focuses on advancing beyond the existing mineral resource toward a multi-deposit lithium district. The 2026 field programs, including Corona Pegmatite and Northern Prospects targeting, aim to systematically test multiple pegmatite trends and structural corridors across the project footprint. Since acquiring Mavis Lake in 2022, the company has completed over 58,000 metres of drilling, establishing a declared mineral resource and exploration target. This shift from resource definition to district-scale exploration marks a significant value creation strategy evolution.

The discovery of highly fractionated LCT pegmatite systems within Northern Prospects, especially along the Gullwing2Tot corridor (~10 km), presents substantial exploration opportunities. Both Gullwing and Tot prospects feature surface spodumene mineralisation, offering multiple drill targets within a district-scale structural corridor. This strategic approach aligns with global lithium industry trends favoring district-scale production over single deposits, positioning Critical Resources to capture significant geological optionality. The company’s systematic exploration, supported by high-quality geochemical data, provides a solid framework for prioritizing drilling and resource estimation.