Edmonton, Alberta--(Newsfile Corp. - April 23, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") is pleased to provide an update on its ongoing auger drilling program at its Turvolândia rare earth project ("Turvolândia" or the "Project"), located in the state of Minas Gerais, Brazil, approximately 200 kilometres northeast of São Paulo.
To date, the Company has completed 83 auger drill holes totalling 969 metres of a previously planned 1,000-metre program. Drilling activities have focused on three defined grid areas, followed by regional wildcat drilling across the remaining portions of the property. Based on encouraging initial assay results, Canamera has elected to expand the program to a total of 1,200 metres, with the additional drilling focused on extending the eastern grid area to evaluate the continuity of mineralization identified to date. See Figure 1: Turvolândia Drill Plan, showing the locations of completed and proposed drill holes.
"Turvolândia is delivering against our exploration thesis, with hole TUV-AUG-014 returning 3,255 ppm TREO over 13 metres from surface and a peak grade of 6,431 ppm TREO, the details of which were announced on March 11, 2026," said Brad Brodeur, CEO of Canamera Energy Metals Corp. "These results warrant an expanded program, and we have accordingly increased the auger drilling from 1,000 to 1,200 metres. The definitive agreement announced April 20, 2026 for USA Rare Earth, Inc. (NASDAQ: USAR) to acquire Serra Verde Group - operator of Brazil's only producing rare earth mine - for approximately US$2.8 billion underscores the scale of M&A activity now focused on Brazilian ion adsorption clay REE production and the strategic role this deposit class is expected to play in Western critical mineral supply chains. Canamera is positioning a multi-project Brazilian ion adsorption clay REE portfolio into that market."1
The Company's exploration strategy is focused on testing the regolith profile, particularly the saprolitic horizon developed over bedrock. The regolith at Turvolândia is interpreted to be derived from the weathering of Neoproterozoic orthogneiss units of the Machado Sheet, including the São Gonçalo, Elói Mendes, Paiolinho, Poço Fundo, Santa Luzia, and São João da Mata units. These orthogneisses represent metamorphosed granitoid protoliths, with the more evolved felsic varieties considered favourable for rare earth element ("REE") enrichment. Turvolândia also sits within a broader regional corridor of REE-fertile lithologies in southern Minas Gerais. The Company's exploration thesis is that prolonged tropical chemical weathering of these rocks may have produced ion adsorption clay ("IAC") style rare earth mineralization - a deposit class characterized by soft, near-surface saprolite hosting REEs adsorbed onto secondary clay minerals, typically amenable to low-cost free-dig open-pit mining and ion-exchange leaching with dilute electrolyte solutions.
Figure 1: Turvolândia Drill Plan
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Initial assay results from the Company's first batch of samples have been encouraging. Drill hole TUV-AUG-014 returned 3,255 parts per million ("ppm") total rare earth oxides ("TREO") over 13 metres from surface, (1,127 ppm magnetic rare earth oxides or "MREO"), including 5,486 ppm TREO (2,135ppm MREO) over 3 metres and a peak grade of 6,431 ppm TREO over 1 metre, (2,409 ppm MREO) (see Company news release dated March 11, 2026). In light of these positive results, the Company has elected to expand its auger drilling program from a previously planned 1,000 metres to 1,200 metres, with the additional drilling focused on extending the eastern grid area. The 615 meters of drill samples since the March 11th news release have been sent in three batches to SGS Geosol (ISO 9001, 14001 and 17025 certified), Belo Horizonte, Brazil, using lithium metaborate (LiBO2) fusion followed by inductively coupled plasma optical emission spectrometry and mass spectrometry (ICP-OES/MS) for 49-element analysis, including all rare earth elements. The results from these batches should be received sometime in May. QA/QC program includes the regular insertion of certified reference materials (CRMs), blank standards and field duplicates. The Company looks forward to providing further updates as the program progresses.
The scientific and technical information in this news release has been reviewed and approved by Warren Robb, P.Geo. (British Columbia), VP Exploration of Canamera Energy Metals Corp. and a "Qualified Person" as defined by National Instrument 43-101 ("NI 43-101"). Mr. Robb is not independent of the Company within the meaning of NI 43-101.
For a discussion of the Company's QA/QC processes and procedures, please see its most recently-filed technical report, a copy of which may be obtained under the Company's profile at www.sedarplus.ca.
About Canamera Energy Metals Corp.
Canamera Energy Metals Corp. is a rare earth elements exploration and development company with an expanding project portfolio across Brazil, the United States, and Canada. The Company is focused on advancing ionic clay REE projects in Brazil and critical mineral assets in North America to support Western rare earth supply chain independence. For more information, visit www.canamerametals.com.
For Further Information Please Contact:
Brad Brodeur
Chief Executive Officer
brad@canamerametals.com
780-238-7163
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding: the planned expansion of the Company's auger drilling program at Turvolândia from 1,000 metres to 1,200 metres; the planned focus of additional drilling on extending the eastern grid area; the potential to evaluate and delineate the continuity of rare earth element mineralization at Turvolândia; the Company's exploration strategy and program objectives; the geological potential of the regolith profile developed over the Machado Sheet orthogneisses; the Company's exploration thesis that Turvolândia may host ion adsorption clay style rare earth mineralization; the timing and content of future news releases; the strategic significance of Brazilian ion adsorption clay REE deposits to Western supply chains; and references to the announced acquisition of Serra Verde Group by USA Rare Earth, Inc.
Forward-looking information is based on certain assumptions, including: that the expanded drilling program will be completed as planned; that assay results will be received in the ordinary course; that weather, access, and permitting conditions will remain suitable for continued field work in Brazil; that the Company will have sufficient capital resources to execute its planned exploration programs; and that general market and regulatory conditions will remain stable.
Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied, including: delays in the receipt of laboratory assay results; the possibility that drill results do not confirm the continuity or tenor of mineralization identified to date; the possibility that the regolith profile at Turvolândia does not host economically significant REE mineralization; the possibility that the deposit class at Turvolândia is not analogous to other ion adsorption clay deposits in terms of grade, continuity, or metallurgical recovery; volatility in rare earth commodity prices and market demand; regulatory risks in Brazil; changes in applicable laws and regulations; the possibility that the announced acquisition of Serra Verde Group by USA Rare Earth, Inc. does not close on the terms or timeline disclosed by the parties, or at all; and general exploration risks inherent to the evaluation of mineral properties at an early stage. Readers are referred to the risk factors described in the Company's most recent continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information. Except as required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking information to reflect events or circumstances after the date of this news release.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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1 Information in this news release concerning Serra Verde Group and its acquisition by USA Rare Earth, Inc. (NASDAQ: USAR) has been derived from public disclosure by USA Rare Earth, Inc., including its news release dated April 20, 2026. Canamera has no interest in the Serra Verde project and has not independently verified such information. The Serra Verde project is hosted in different primary lithologies than the Company's Turvolândia project, and the geological, operational, and financial characteristics of the Serra Verde project are not necessarily indicative of the characteristics or potential of the Company's projects. Readers are cautioned against drawing direct comparisons between Serra Verde and Turvolândia or any other Canamera project.
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Source: Canamera Energy Metals Corp.
