Springer Rare Earth & Gallium Project
Springer Project is North America’s 5th largest Rare Earth Deposit located near Sudbury, Ontario, Canada
2026 September Mineral Resource Estimate ranks Springer in the top 5 largest Rare Earth Deposits in North America with a supplementary estimate for Gallium, a critical metal for semiconductor and defence applications.
Resource Estimate (MRE, 2026)
5th Largest in North America (M&I Tonnage)
197.5Mt @ 0.53% TREO Inf.
122.4Mt @ 0.59% TREO Ind.
Supplementary Gallium Estimate:
19.6Mt @ 53 g/t Ga Inf.
14.9Mt @ 56 g/t Ga Ind.
Expansion Potential
> 300Mt Short Term Potential
Magnet Rare Earths
22.4% High Payable (Pr, Nd, Dy, Tb) in basket, with Ga add-on
Resource Details & Grade Profile
Mineral Resource: 122.4 Mt Indicated at 0.59% TREO and 197.5 Mt Inferred at 0.53% TREO (SLR, effective September 30, 2026). Mineralization starts at surface, sits within a conceptual pit shell with a 1.26 strip ratio, and remains open in all directions.
High-Grade Core. 27.6 Mt Indicated at 1.00% TREO, up 140%, plus 26.7 Mt Inferred at 0.94% TREO, which remains open.
High-Grade Intercepts. 0.81% TREO over 688 m (including 1.01% over 210 m), 1.06% TREO over 358.6 m and 0.95% TREO over 438.9 m.
Magnet-Rich. Magnet rare earth oxides (Nd, Pr, Dy, Tb) make up 22.4% of TREO in the Indicated resource. They are the only oxides assigned value in the resource estimate.
Heavy Rare Earths. 63 g/t Dy₂O₃ and 14 g/t Tb₄O₇ in the Indicated high-grade core, with drill intervals up to 157.8 g/t Dy₂O₃ and 26.2 g/t Tb₄O₇ from 124.4 m to 151.1 m.
High-Grade Gallium. First gallium estimate defines a Ga High Grade domain of 14.8 Mt at 56 g/t Ga (Indicated) and 19.6 Mt at 53 g/t Ga (Inferred). Drilling includes 81 g/t Ga₂O₃ over 131.9 m.
Continuity. Mineralization is continuous along a c. 800 m strike length.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Gallium is a supplementary estimate within the rare earth Mineral Resource, reported in situ, and is assigned no economic value. The MRE was prepared by Katharine Masun, M.Sc., MSA, P.Geo. (SLR), an independent Qualified Person. See the news release dated October 19, 2026.
The Gallium Opportunity
Gallium is essential for semiconductors, AI data centres and modern defence systems such as radar and telecommunications. China produces about 99% of the world’s primary gallium.
Springer’s September 2026 Mineral Resource estimate includes a first supplementary gallium estimate. The thick gallium zones intersected in drilling are now part of a defined high-grade domain.
High-Grade Gallium Domain. 14.8 Mt at 56 g/t Ga within the Indicated resource and 19.6 Mt at 53 g/t Ga within the Inferred resource.
Thick, High-Grade Intercepts. Including 87.5 m at 102.3 g/t Ga₂O₃ and 131.9 m at 81 g/t Ga₂O₃.
Path to Value. In initial testwork, gallium reports to both the rare earth concentrate and the flotation tailings. Recovery testwork is underway, supported by a collaboration with Idaho National Laboratory, ahead of a PEA targeted for H1 2027.
Access
Paved road to the property. 1 hour from Sudbury via Trans Canada Highway. 30 minutes from North Bay. Power lines run through the property.
Power
Crystal Falls Power Generating Dam is 7 km from the resource.
Logistics
Sturgeon Falls Dam and Railway station are 8.5 km from the project site.
Community
MOU signed with Nipissing First Nation. Fostering constructive relationships with local First Nations communities.
Government Support
Ontario announced $500M Critical Mineral Processing Fund. Federal Government $2B Critical Mineral Investment Fund.
NI 43-101 Technical Report
An independent NI 43-101 Technical Report on the Springer Rare Earth Project, Sturgeon Lake, Ontario. Prepared by SLR Consulting (Canada) Ltd. with an effective date of December 31, 2025.
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