eMetals Secures 109 Mineral Claims at Mineral Range Tungsten Project After Strong Q2 2026 Exploration Results

Acquisition Finalized: 109 Mineral Claims Fully Granted in Utah’s Mineral Range Tungsten District

eMetals Limited announced the completion of its acquisition of the Mineral Range Tungsten Project following the granting of all 84 mineral claim applications during the quarter ending 30 June 2026. The company entered a binding agreement on 2 April 2026 to acquire a 100% interest in 25 mineral claims and 84 mineral claim applications covering the Mineral Range batholith in Beaver County, Utah. With the successful granting of these applications, the project now totals 109 mineral claims, covering 2,072 acres (approximately 838 hectares) of highly prospective terrain.

This tenure grants eMetals control over roughly 12 kilometres of strike length across the Mineral Range batholith, with multiple exploration prospects identified to test known strike and depth extensions of historic mines. Headquartered at Ground Floor, 28 Ord Street, West Perth, WA 6005, the project marks a significant expansion into tungsten exploration within a district boasting a documented mining history spanning several decades. The granting of all pending applications this quarter consolidates the company’s tenure position and removes uncertainty from its exploration program moving forward.

Historic Tungsten Mining Operations Provide Geological and Production Framework

The Mineral Range district has a rich history of tungsten mining, with several past-producing operations documented in historical records. The Garnet Group mine yielded 634 tonnes at an average grade of 0.64% WO 3, the Big Pass Group produced 279 tonnes at 0.79% WO 3, and the Two R's Property delivered 70 tonnes at 0.58% WO 3. This production data, summarized in a June 1957 technical report titled "Tungsten Deposits of the Mineral Range, Beaver County, Utah" by Arthur L Crawford and Alfred M Buranek, highlights the district’s mineral potential and offers a clear exploration framework for current activities.

The district’s tungsten mineralization is genetically linked to scheelite-bearing skarn zones formed at the contact between the Mineral Range granite batholith and Paleozoic limestone host rocks. Paleozoic carbonate rocks have been altered into garnet-rich skarn assemblages along the intrusive contact, with scheelite occurring as fine disseminations throughout the skarn and in higher-grade concentrations along fractures, shears, and structural conduits. This predictable geological setting provides eMetals with a focused targeting strategy centered on contact metasomatic processes responsible for mineralization in historically productive zones.

Initial Field Reconnaissance Yields 42 High-Grade Grab Samples from Surface and Underground

During the quarter, eMetals’ exploration program concentrated on detailed geological and structural mapping, rock chip sampling, and selective underground re-entry of the historic Garnet Mine. Early efforts included compiling and integrating historic maps, geological data, and land positions into a unified GIS framework. Reconnaissance methods involved detailed geological mapping, UV scheelite scanning, portable X-ray fluorescence (pXRF) analysis, and both surface grab sampling and underground sample collection to define priority drill targets for future phases.

A total of 42 grab samples were collected from mapping and underground reconnaissance during the quarter. Multiple high-grade samples assayed 0.74% WO 3, 0.51% WO 3, 0.41% WO 3, 0.36% WO 3, and 0.32% WO 3, confirming the project’s prospectivity. Company directors’ initial field visits returned eight rock chip samples grading 0.35% WO 3 and 0.33% WO 3. The spatial distribution of these samples, depicted on detailed maps compiled this quarter, reveals multiple mineralized zones across the tenure with strong potential for further development and systematic exploration.

Historic Garnet Mine Re-Entry Produces 3D Mapping and Channel Sampling Data

A major achievement this quarter was the successful re-entry of the historic Garnet Mine, enabling access to underground workings and collection of samples from mineralized zones at depth. The team accessed the mine at the 40-foot (12 metre) and 100-foot (30 metre) levels, plus a winze extending about 30 feet below the 100-foot level. Mineralization was confirmed underground using shortwave UV lighting, verifying scheelite presence in historic workings. An Exyn Pak SLAM LiDAR system generated high-resolution 3D models of the underground workings, supporting volume estimates of historically mined material and aiding future development planning.

Channel sampling underground provided more representative assay data than grab samples alone. Seven channel samples were collected from the 40-foot and 100-foot levels of the Garnet Mine, along with one rock chip sample from the winze below the 100-foot level. Additional channel and composite rock chip samples were taken from the historic Contact mine. These samples were submitted for laboratory analysis, with results received after quarter-end, delivering critical data for targeting future drilling and exploration.

Post-Quarter Assays Confirm Significant High-Grade Tungsten Intercepts from Channel Sampling

After quarter-end, assay results from underground channel sampling revealed significant high-grade tungsten mineralization at depth in historic workings. Reported intercepts include 1.2 metres at 0.76% WO 3, 5.5 metres at 0.18% WO 3, and 1.5 metres at 0.27% WO 3. These extend known mineralization vertically and along strike within the Garnet Mine, supporting the company’s view of significant tungsten resources at depth in the district.

The 1.2-metre intercept at 0.76% WO 3 is the highest single assay result to date from the project. The 5.5-metre intercept at 0.18% WO 3, though lower grade, indicates a thicker mineralized interval within skarn zones and continuity over greater sample lengths. These post-quarter results validate eMetals’ exploration approach and provide a strong foundation for advancing toward drilling. The timing of these assays, received after quarter-end, shows fieldwork and sample processing continued into early July 2026.

Geological Framework Highlights Garnet-Rich Skarn Zones as Key Exploration Targets

During the quarter, the geological team prioritized mapping and evaluation of the sub-vertical, irregular intrusive contact exposed in historic workings, identifying it as a key control on tungsten mineralization. A series of bedding-parallel, near-vertical garnet-rich skarn zones near the Garnet Mine were identified as the most productive mineralization style to date and are considered highly prospective for tungsten enrichment. This interpretation guides the company’s drilling strategy to focus on testing these favorable zones along strike and at depth.

Initial reconnaissance successfully located and characterized primary mineralized zones, emphasizing garnet-rich skarn assemblages that hosted historic mining. Detailed geological and structural mapping has built a 3D understanding of the mineralized environment, supported by 3D LiDAR models from the Garnet Mine underground. This geological framework provides a solid base for designing a drilling program to test lateral and vertical continuity of high-grade zones.

GIS Integration and Historical Data Compilation Enable Systematic Exploration Planning

A key part of eMetals’ initial work involved compiling and integrating historic maps, geological data, and land positions into a unified GIS framework. This effort builds on the district’s extensive historical record, including the 1957 technical report documenting past mining and geological observations by industry and government geologists. Digitizing and organizing this information has created a comprehensive exploration database for rapid target assessment and efficient fieldwork planning.

The GIS framework supports mapping and sampling programs by providing spatial context for all activities and visualizing mineralization patterns across the tenure. Combining reconnaissance methods such as UV scheelite scanning, portable X-ray fluorescence, traditional geological mapping, and grab sampling has generated a robust dataset defining tungsten mineralization’s location, grade, and distribution. This systematic data collection and management demonstrates disciplined exploration methodology, positioning eMetals to efficiently advance toward drilling.

Company Overview and Operational Details

eMetals Limited is an exploration company focused on mineral discovery and development in the United States. Registered in Australia under ACN 142 411 390, its registered office is Ground Floor, 28 Ord Street, West Perth, WA 6005. Investor inquiries can be directed to telephone +61 8 6385 2282 or email [email protected]. The Mineral Range Tungsten Project represents a major commitment to tungsten exploration in one of North America’s established tungsten districts.

Exploration activities are managed by a technically experienced team specializing in mineral exploration and mine development. The quarterly report includes detailed Appendix 5B financial disclosures, reflecting eMetals’ status as a reporting entity on the Australian Securities Exchange with corresponding governance and disclosure obligations. The company’s presence in the Mineral Range district reflects a strategic focus on tungsten exploration in an area with proven mineralization. Successful historic mine re-entry and early high-grade sampling results demonstrate effective identification and access to key mineralized zones.

Upcoming Plans and Exploration Program Advancement

Following successful initial reconnaissance and receipt of high-grade assay results post-quarter, eMetals is positioned to progress its exploration program toward drilling. The next major milestone involves designing and executing a systematic drilling campaign to test continuity of high-grade zones along strike and at depth within garnet-rich skarn mineralization. The 3D mapping data from Garnet Mine re-entry provides critical input for precise drill targeting.

Details on timing and scope of upcoming field activities are not disclosed in this report. However, the established systematic exploration framework offers a clear path forward. Investors should monitor company updates for announcements on drilling schedules, funding for subsequent phases, and further assay results from grab and channel samples as laboratory analyses conclude. The company’s demonstrated ability to access historic underground workings and generate representative sampling data indicates operational capability to execute forthcoming exploration stages.