Spartan Metals announced the confirmation of two tungsten skarn zones at the Tungstonia claims within its wholly owned Eagle Project in Nevada, US. As part of its ongoing exploration programme launched in May 2026, rock sampling from the historic Yellow Jacket Mine within the project returned tungsten trioxide grades ranging from 0.89% to 1.87%. Crucially, assays from the mine entrance and dumps detected notable concentrations of zinc (up to 3.3%) and 1,320 ppm beryllium, the latter being a newly discovered critical metal at the property. Backpack core drilling at the mine also intercepted a 0.3-meter interval grading 0.21% tungsten trioxide and 0.33% zinc. The confirmed mineralization, spanning an estimated 2-kilometer area, hosts a complex system of tungsten, molybdenum, beryllium, rubidium, and silver. Spartan Metals intends to launch approximately 3,000 meters of diamond core drilling at selected targets from early to mid-August to further untangle this expanding mineralized system.

Vizsla Copper announced the commencement of diamond drilling at its Palmer volcanogenic massive sulphide (VMS) project in southeast Alaska, launching the first phase of a multi-year exploration programme. The fully funded 2026 campaign will utilize two drill rigs to complete approximately 10,000 meters of drilling during the field season, with initial work focused on defining and expanding the high-grade copper-rich core at the South Wall Zone. According to the company's 2025 NI 43-101 technical report, Palmer hosts a substantial critical metals endowment, including an indicated mineral resource of 4.77 mt grading 1.69% copper and 5.17% zinc, alongside an inferred resource of 12 mt grading 0.57% copper and 3.92% zinc. The company plans to expand drilling to the HG and Waterfall prospects later in the season while advancing environmental and technical evaluations across more than 15 kilometers of prospective stratigraphy.

Viridian Metals (VRDN.CN) will begin a minimum 50-hole diamond drill program in early June at its Kraken Copper-Nickel Project in Labrador, targeting copper-nickel sulphide mineralization along an approximately 5-kilometre strike length in the Main Zone. The 2026 campaign aims to connect broad-spaced drilling across the full Main Zone with tighter-spaced results from the northern portion of the system, advancing the project toward a continuously drill-defined mineralized footprint. Holes will target mineralization within 50 metres of surface, extend previously reported intercepts where earlier holes ended in mineralization or fell short of target depth, and test newly modeled conductor plates via downhole electromagnetic surveying.

SMM Morning Meeting Summary: Overnight, LME copper opened at $13,489/mt, initially rising to $13,533.5/mt before the price center gradually shifted lower to $13,386/mt, ultimately closing at $13,427/mt, down 1.2%. Trading volume reached 20,000 lots, and open interest stood at 277,000 lots, a decrease of 6,463 lots from the previous trading day, indicating bulls reducing positions. Overnight, the most-traded SHFE copper 2606 contract opened at 104,130 yuan/mt, initially touching a high of 104,170 yuan/mt before the price center shifted lower to a low of 103,390 yuan/mt, ultimately moving sideways to close at 103,670 yuan/mt, down 0.82%. Trading volume reached 31,000 lots, and open interest stood at 143,000 lots, a decrease of 4,124 lots from the previous trading day, indicating bulls reducing positions.

Jiangsu Lopal Tech Co., Ltd., through its overseas wholly-owned subsidiary Lopal Tech Perth Pty Ltd (hereinafter referred to as "Lopal Perth") and Global Lithium Resources Limited ("GL1") and MB Lithium Pty Ltd ("MB Lithium", together with "GL1", the "Sellers"), signed the "Tenements and Mineral Rights Sale Agreement". The subject matter of this transaction is the sellers' collectively held exploration tenements for five lithium mines in Western Australia, as well as the lithium mineral rights for another 11 mining areas. The transaction involves lithium exploration tenements located in the Pilbara region of Western Australia, approximately 150 km southeast of Port Hedland. Since acquiring the mineral rights in 2019, GL1 has continuously carried out exploration work on one of the core tenements, E45/4309, completing a total of 734 reverse circulation drill holes and 7 diamond drill holes, with drilling footage exceeding 102.5 km. According to the "Marble Bar Lithium Project Mineral Resource Estimate Report" prepared in 2022 in accordance with the JORC Code, the project has an ore resource of 18 million tonnes with an average lithium oxide grade of 1.0%. Based on relevant data, the mining area still has good exploration potential. The Company engaged a professional team from SRK Consulting (Hong Kong) Limited ("SRK") in December 2025 to conduct an on-site field inspection of the mining area and carry out due diligence regarding the geological conditions, resource estimation and exploration prospects. At the same time, the Company also engaged Australian law firm Herbert Smith Freehills Kramer in December 2025 to provide legal services including due diligence for the project. Pursuant to the agreement, Lopal Tech Perth Pty Ltd acquired the lithium exploration tenements and related assets held by Global Lithium Resources Limited and MB Lithium Pty Ltd in Australia for a consideration of AUD 14.85 million. The lithium mining project will subsequently require exploration, mining licence application, beneficiation and mining capacity construction, with an expected investment of over USD 200 million and a construction and production ramp-up period of approximately 2–3 years. Through its overseas wholly-owned subsidiary Lopal Perth, the Company signed the "Tenements and Mineral Rights Sale Agreement" with the counterparties GL1 and MB Lithium, acquiring the lithium exploration tenements and related assets held by them in Australia, with the transaction amount being AUD 14.85 million. 1. Counterparties (i) Counterparty 1 Name: Global Lithium Resources Limited Registered Address: Level 1, 16 Ventnor Avenue, West Perth WA 6005 Date of Establishment: May 11, 2018 Major Shareholders: As of April 20, 2026, MINERAL RESOURCES LIMITED holds 9.85%, CANMAX TECHNOLOGIES CO LTD holds 9.45%, SINCERITY DEVELOPMENT PTY LTD holds 7.49%, YONGFANG GUO holds 6.23%, DIANMIN CHEN holds 5.32% Principal Business: GL1 is a lithium resource exploration and development company listed on the Australian Securities Exchange, primarily engaged in the exploration, development and future production of hard-rock lithium resources. (ii) Counterparty 2 Name: MB Lithium Pty Ltd Registered Address: Level 1, 16 Ventnor Avenue, West Perth WA 6005 Date of Establishment: June 10, 2021 Major Shareholders: GL1 holds 100.00%; MB Lithium is a wholly-owned subsidiary of GL1. Principal Business: MB Lithium holds the mineral rights related to the Marble Bar Lithium Project. 2. Agreed Product and Technical Specifications Any spodumene concentrate produced from the Manna Lithium Project with a lithium oxide (Li₂O) content of not less than 5% and meeting the specifications agreed by both parties. The Company has the right to reject products with a lithium oxide content of less than 4.5%. 3. Supply Term The initial term is 10 years from the date of the first supply of the agreed product. Subject to satisfaction of the relevant conditions, the Company has the right to extend the initial term by 4 years by giving notice within one month prior to the expiry of the initial term. 4. Supply Volume GLR shall supply to the Company annually 40% of the actual annual production of spodumene concentrate from the Manna Lithium Project. GLR shall use its best efforts to achieve an annual supply volume of at least 70,000 tonnes of the agreed product. 5. Product Pricing The pricing of the supplied products is based on the average of price indices published by SMM , Fastmarkets, Benchmark Minerals Intelligence, Asian Metal, Platts S&P Global and other agencies, subject to a certain price concession. 6. Supply Shortfall If a supply shortfall occurs during a contract year, GLR shall use reasonable efforts to make up such shortfall within three months after the end of the relevant contract year. If GLR fails to provide the shortfall supply to complete the delivery within such three-month period (the "rectification period"), GLR shall pay in full the price difference to the Company within 30 days after the end of the rectification period. 7. Prepayment Amount Subject to satisfaction of the conditions precedent for the prepayment, the Company shall pay GLR a prepayment of not more than US$75 million (the "Maximum Amount"), which shall be strictly used for the development expenditure of the Manna Lithium Project and the operation of the project after its completion. When the Company accepts the agreed products, such prepayment shall be applied to offset the payable purchase price in batches. Considering the extended period of the prepayment, GLR shall pay the Company a funding fee calculated at a compound annual interest rate of 5%. 8. Overview of the Investment Target GL1 (ABN 58 626 093 150) is an Australian listed company located in Western Australia, primarily engaged in the exploration and development of lithium resources. Its core asset, the Manna Lithium Project, is located 100 km east of Kalgoorlie, Western Australia, and is the third largest lithium resource project in the resource-rich Eastern Goldfields region. The project has a mineral resource of 51.6 million tonnes with an average lithium oxide grade of 1.0%. GL1 holds and operates the Manna Lithium Project through its wholly-owned subsidiary GLR (ACN 653 130 575). GL1 has obtained the mining lease for the lithium project and completed the project feasibility study. GLR expects to make a final investment decision (FID) for the Manna Lithium Project by the end of 2026. Following the FID, GLR will commence project construction, and the lithium project is expected to commence shipments in June 2028. This transaction represents an important measure for the Company to anchor its core business of lithium iron phosphate cathode materials and deepen its upstream resource layout. Currently, the Company's lithium iron phosphate business continues to expand in production and sales volume, its overseas capacity is progressing steadily, and the demand for stable supply and cost control of upstream lithium resources is increasing. Through this transaction, the Company will further enhance its lithium resource security capability, strengthen raw material supply stability and anti-cyclical resilience, improve vertical integration and overall competitiveness, which is in line with the Company's long-term development strategy and the interests of all shareholders. Source: China Securities Journal

As chips evolve toward higher integration and higher power, traditional copper heat dissipation materials can no longer meet stringent thermal management demands. Diamond thermal conductivity can reach four to five times that of copper, making it a key heat dissipation material for resolving chip performance bottlenecks. Currently, China has achieved mass production of large-size diamond wafers, and coupled with the implementation of related cooperation with NVIDIA, diamond heat dissipation has officially moved from the laboratory to the industrialisation stage. Liquid cooling and diamond materials will create synergistic effects, and China's diamond industry, leveraging its globally leading capacity advantages, is expected to embrace broad development prospects.

[Strategic Partnership Drives Canadian Lithium Processing Development, Supporting EV Battery Materials Supply Chain] Rock Tech Lithium has partnered with Canada's BMI Group to develop its lithium converter facility in Red Rock, Ontario. The partnership is expected to adopt a general partner/limited partner structure, with Rock Tech controlling the general partner and BMI serving as the primary limited partner and anchor investor. Rock Tech will retain full control over project development, engineering, operations, and key technical and strategic decisions. Rock Tech is developing an integrated lithium platform in Canada, connecting upstream supply from the Georgia Lake project with downstream production from the Red Rock converter. The project aims to build a domestic mine-to-battery-grade lithium chemicals supply chain that meets IRA and CUSMA requirements, enhances Canada's critical minerals processing capacity, and supports North American and European supply chains. Source: [Argentina's RIGI Framework Drives Fénix Phase 1B Lithium Mine Expansion Transformation] Argentina's lithium industry is at a critical transformation period, where next-generation extraction technologies converge with unprecedented regulatory incentives. Advanced direct lithium extraction (DLE) systems, combined with Argentina's newly implemented RIGI framework, have created a highly attractive investment outlook that could reshape South America's position in the global battery supply chain. This synergy between technology and regulation offers mining developers multiple pathways to optimize capital allocation, operational efficiency, and long-term profitability under varying market conditions, with Argentina lithium industry insights presenting significant opportunities. Argentina's Large Investment Incentive Regime (RIGI) has fundamentally transformed the economic model for mining projects through comprehensive tax reform and stability guarantees. The framework requires a minimum project investment of $200 million to qualify, setting a clear threshold that aligns with large-scale lithium mine expansion plans such as the Fénix Phase 1B Argentina lithium mine expansion. The RIGI framework delivers quantifiable economic advantages through multiple mechanisms. The corporate income tax rate for registered projects is reduced to 9%, compared to Argentina's standard corporate income tax rate of 35%. Based on an investment of $251 million, this reduction could save approximately $6.5 million to $7.2 million in taxes annually, generating cumulative undiscounted benefits of approximately $195 million to $216 million over the 30-year stability period. Source: https://discoveryalert.com.au/ [Wildcat Expands Bolt Cutter Project, Drilling Extends Lithium Mineralization System] Wildcat Resources has expanded exploration at the Bolt Cutter Central lithium discovery in the Pilbara region of Western Australia, with a new round of drilling confirming that mineralization continues along strike and remains open. The company reported that recent diamond drilling results indicated that the interpreted spodumene mineralization extended approximately 300 meters to the north, further highlighting the scale of this emerging mineralization system. Bolt Cutter Central currently extends over 2.3 kilometers to the northwest and up to 800 meters to the northeast. The latest drilling results built upon the project's earlier achievements. Previously, Wildcat had identified the "Harry" and "Hermione" pegmatite groups, which are now considered to be components of a single large, continuous lithium mineralization system rather than separate ore bodies. Previous drilling between these zones confirmed good continuity, with widespread spodumene mineralization and high-grade intercepts supporting the interpretation of a stacked pegmatite system open in multiple directions. Source: https://www.australianmining.com.au/ [Zimbabwe's New Lithium Ore Export Quotas Reshape Mining Industry] Zimbabwe's evolving lithium ore export quota policy reflected the strategic transformation of resource-rich nations in capturing the value of critical minerals assets. This comprehensive framework moved beyond traditional extraction models toward processing requirements, fundamentally reshaping the battery supply chain landscape. In addition, the implementation of the quota system created both immediate market impacts and long-term industrial development opportunities for enterprises operating within this complex regulatory environment. Zimbabwe has implemented a comprehensive quota-based export management system that fundamentally reshaped the country's approach to controlling lithium concentrates exports. This strategic initiative went beyond simple export restrictions toward a tiered quota allocation system designed to incentivize local value-added processing while maintaining revenue streams during the transitional period. The framework operates through individual quota allocations for producers directly linked to processing infrastructure commitments. Each mining project must demonstrate concrete plans to construct lithium sulfate processing facilities by January 1, 2027, in order to qualify for quota access. This deadline is driving enterprises to accelerate the transition from raw ore and concentrates extraction toward intermediate processing capabilities. Source: https://discoveryalert.com.au/

Recently, Xinjiang Blue Diamond Lithium Energy Technology Co., Ltd. published the first official public notice for the environmental impact assessment of its lithium salt production project. The project is located in Toksun County, Turpan City, Xinjiang, with a total investment of 2.5 billion yuan. It will include a production line capable of producing 35,000 tons of battery-grade lithium carbonate and 935 tons of anhydrous lithium chloride per year, along with supporting facilities such as a raw material preparation area, pyrometallurgical area, leaching and electrolysis area, and production area.

Rio Tinto has officially ended production at its Diavik diamond mine in Canada's Northwest Territories after 23 years of operations, yielding over 150 million carats. While active mining has ceased at the sub-Arctic site, the company will continue to process and sell the remaining rough diamond inventory through 2026 and beyond. Extensive site rehabilitation activities, conducted in collaboration with Indigenous partners, are scheduled to run until 2029.

Xinjiang Blue Diamond Lithium Energy Technology Co., Ltd. has issued the first public notice for the environmental impact assessment of its lithium salt production project in Toksun County, Turpan, Xinjiang. With a total investment of 2.5 billion yuan, the project will build a production line capable of producing 35,000 tons of battery-grade lithium carbonate and 935 tons of anhydrous lithium chloride per year, along with supporting facilities. As a core project within the Xinjiang Nonferrous Rare Metal Industrial Cluster, it will fill a key gap in the upstream lithium material sector, strengthen the local lithium industrial chain, and accelerate the transformation of regional resource advantages into industrial and economic strengths.