Canamera Energy Metals Files Independent Technical Report on Schryburt Lake Recommending a C$1.5 Million Phase 1 Program Targeting REE-Niobium Mineralization at Five Priority Targets
Rhea-AI Summary
Canamera Energy Metals (OTCQB: EMETF) filed an independent NI 43-101 Technical Report for the Schryburt Lake REE‑niobium project (effective April 15, 2026) and recommends a C$1.5M Phase 1 program including a 1,500‑metre, nine‑hole diamond drill campaign across five priority targets.
The report highlights 2023 rock‑chip results (up to 3.59% TREO; 0.47% Nb2O5 at Blue Jay), 3D magnetic inversion targets, historical 1977 intercepts, and planned permitting and First Nations engagement.
Positive
- Independent NI 43‑101 report filed (effective April 15, 2026)
- Recommended Phase 1 budgeted at C$1,403,575 (includes 15% contingency)
- Nine‑hole, 1,500 m diamond drill program recommended
- 2023 rock chip: 3.59% TREO and 0.47% Nb2O5 at Blue Jay
- 3D magnetic inversion shows deep pipe‑like anomalies
Negative
- Drilling contingent on Ontario Exploration Permit (timing uncertain)
- Historical 1977 data not verified for resource estimation
- 2023 QA/QC considered insufficient for mineral resource estimate
- Company has not yet completed independent verification sampling
News Market Reaction – EMETF
On the day this news was published, EMETF declined 8.01%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Edmonton, Alberta--(Newsfile Corp. - April 28, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") is pleased to announce the filing of an independent National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") technical report (the "Technical Report") on the Schryburt Lake rare earth element ("REE") and niobium project (the "Project" or "Schryburt Lake") located in the Patricia Mining Division of northwestern Ontario, which Technical Report recommends a robust Phase 1 exploration program at the Project, including the recommendation for a 1,500-metre, nine-hole diamond drilling program across multiple priority target areas at the Schryburt Lake Carbonatite Complex (the "SLCC"). The Technical Report - effective April 15, 2026, authored by J Garry Clark, P.Geo., of Clark Exploration Consulting Inc., an independent Qualified Person (the "Independent QP") as defined under NI 43-101, and available under the Company's profile on SEDAR+ at www.sedarplus.ca - provides the first comprehensive technical assessment of the Project under Canamera's option.
"The Technical Report gives Canamera a rigorous, independently reviewed foundation for advancing Schryburt Lake - the first under our option - and recommends a clearly defined Phase 1 drill program," said Brad Brodeur, Chief Executive Officer of Canamera Energy Metals Corp. "Schryburt Lake is a rare and genuinely underexplored carbonatite system in one of Canada's most active mining districts, and we believe it offers our shareholders the potential of differentiated exposure to permanent-magnet rare earths and niobium at a time of intense strategic focus on Western critical mineral supply chains."
Project Overview
The Project is located approximately 135 kilometres north-northeast of Pickle Lake, Ontario, and approximately 50 kilometres east of Orla Mining Ltd.'s producing Musselwhite Mine, within the Patricia Mining Division, with road access to within 30 kilometres of the Project. The Project comprises 252 unpatented single-cell mining claims covering 4,947 hectares, registered
Figure 1: Location of the Schryburt Lake Project, Patricia Mining Division, northwestern Ontario.
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Geological Setting
The SLCC is a Mesoproterozoic carbonatite intrusion dated at approximately 1,145 Ma (Sage, 1988) emplaced into Neoarchean gneisses of the Schade Lake Gneissic Complex, Island Lake Domain, North Caribou Superterrane. It is composed predominantly of calcite carbonatite (sövite) and silicocarbonatite, with minor dolomite carbonatite, magnetitite, and apatite-rich carbonatite, with a mapped geological diameter of approximately 3.3 kilometres and an aeromagnetic expression extending to approximately 5 kilometres.
Principal REE mineralogy comprises ancylite-(Ce) and carbocernaite, confirmed by powder X-ray diffraction and SEM-EDS analysis. Neodymium and praseodymium ("NdPr") ratios reported in the Technical Report range from
Priority Target Areas
The Technical Report defines four flagship priority target areas at Schryburt Lake - Blue Jay, Goldfinch, Starling, and Blackbird, as previously disclosed in the Company's news release dated January 20, 2026. A fifth target, Hummingbird, has been identified in the Technical Report as an additional exploration target and may be evaluated during Phase 1 subject to the findings of the independent geophysical review. The targets are supported by 2023 surface rock-chip sampling, airborne radiometric and biogeochemical surveys, and 3D magnetic inversion modelling, with highlights summarized below:
| Target | Key result | Geophysical anomaly depth |
| Blue Jay | 2023 rock chip (Sample K042532): | >1,000 m |
| Goldfinch | 2023 rock chip (Sample K042505): | >850 m |
| Blackbird | 2023 rock chip (Sample K042522): | >800 m |
| Starling | 1977 historical RC sonic drill hole SC-3 (IMC): 1.5 m at | >600 m |
| Hummingbird | 2023 rock chip (Sample K042540): | Not modelled |
*Historical results; see "Technical Disclosures" below.
Geophysical Modelling
A 3D magnetic inversion model completed by Resource Potentials in 2023 has defined multiple pipe-like magnetic anomalies within and surrounding the SLCC, interpreted by the Independent QP as late-stage dykes or REE-Nb-enriched phases within the carbonatite complex, with modelled depth extents providing substantial vertical exploration potential across the target set. Supporting datasets include approximately 500 line-kilometres of helicopter-borne magnetic and radiometric coverage flown by Axiom Exploration in June 2023 at 50-metre line spacing, and a complementary biogeochemical survey comprising 130 black spruce bark samples completed by Dixon Metals over the same period.
Figure 2: Cross-section of the 3D magnetic inversion model at Schryburt Lake (Resource Potentials, 2023) looking northwest, showing pipe-like anomalies and modelled depth extents beneath the Blue Jay, Goldfinch, Blackbird, and Starling targets.
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Figure 3: Thorium radiometric image with TREE biogeochemical results (left) and niobium biogeochemical results (right)
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Figure 4: 2023 sample K042532 from the Blue Jay target area - intergrown ancylite-(Ce) and carbocernaite on a weathered outcrop surface; SEM-XRD confirmed; returned
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Recommended Phase 1 Program
The 1,500-metre diamond drill program recommended by the Technical Report is budgeted at C
The Company has applied for the required Ontario Exploration Permit (MLAS File No. PR-23-000172), which is currently under circulation review. Commencement of drilling at the Project is contingent upon the grant of the Ontario Exploration Permit. The Company is advancing planning with respect to the recommended drill program; however, there can be no assurance regarding the timing of the grant of the Ontario Exploration Permit or if such permit will be granted at all.
First Nations Engagement
The Company is actively engaged with the Kingfisher Lake, Mishkeegogamang, Nibinamik (Summer Beaver), and Wunnumin Lake First Nations in respect of the Project. As previously disclosed (see Company news release dated January 20, 2026), Canamera has engaged Andrew Best as Manager of Indigenous Relations - a Métis professional with over 30 years of experience advancing economic reconciliation and capacity building across the energy, mining, forestry, and aerospace sectors, most recently leading Indigenous engagement initiatives for mining companies operating in Canada's Ring of Fire. Canamera is committed to conducting its exploration activities in a manner that respects Indigenous rights, fosters open communication, and creates opportunities for meaningful participation by local communities.
Technical Disclosures
Rock-chip samples referenced in this news release are grab samples and by their nature are selective; they are not necessarily representative of the mineralization hosted on the Project.
The historical results referenced in this news release - the 1961 Many Lakes Exploration grab sample at Goldfinch (analyzed for Nb₂O₅ with Ontario Department of Mines check-assays) and all 1977 International Minerals & Chemical Corp. RC sonic drilling data from the Project, including the
The 2023 rock-chip sampling program was conducted by Dixon Metals, with analysis by AGAT Laboratories (Timmins, Ontario) using borate fusion full-suite REE and multi-element analysis, and QA/QC relying on internal laboratory standards and blanks. The Independent QP has accepted the 2023 data as reasonable for exploration purposes but has noted that the QA/QC protocols are not sufficient to support a mineral resource estimate. The Company has not yet conducted its own independent verification sampling on the Project.
Qualified Person
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 NI 43-101. Mr. Robb is not independent of the Company within the meaning of NI 43-101. The Technical Report itself was authored by J Garry Clark, P.Geo., of Clark Exploration Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.
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 includes, but is not limited to, statements regarding: the filing of the Technical Report on SEDAR+ and the contents thereof; the budgeted C
Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the inability to obtain required exploration permits, including the Ontario Exploration Permit, in a timely manner or at all; changes to the scope, target selection, hole allocations, or drill collar locations of the Phase 1 program following the independent geophysical review; drill results not confirming or supporting the results of prior sampling, modelling, or historical exploration programs; the reliability of historical sampling and assay data and the inability to verify such data; the inability of the Company to satisfy the staged cash, share, or expenditure commitments under the Joint Venture Option Agreement; changes to, or early termination of, the Joint Venture Option Agreement; the inability to maintain positive engagement with affected First Nations; changes in commodity prices for rare earth elements, niobium, and other critical minerals; the availability and cost of qualified personnel, drilling contractors, helicopter support, and analytical laboratories; weather, seasonal, and logistical constraints on field operations; the availability of financing on acceptable terms; changes in applicable laws and regulations, including Canadian securities laws and Ontario mining laws; and other risks and uncertainties identified in the Company's continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294540