Eastport Announces Additional Positive Assay Results at the Foley Uranium Discovery
Rhea-AI Summary
Eastport Critical Metals (OTCQB:EVIIF) reported a second batch of assay results from its Foley Uranium Project RC program in Botswana, completing Fence 1.
Mineralisation above 200 ppm U3O8 extends over a 1.4 km strike, remains open in multiple directions, and includes intercepts up to 2,333 ppm U3O8.
Positive
- Fence 1 assays outline >200 ppm U3O8 mineralisation over 1.4 km strike
- Significant intercepts, including 8.0 m @ 553 ppm and 1.0 m @ 2,333 ppm U3O8
- Uranium mineralisation intersected in 7 of 16 Fence 1 drill holes
- Mineralisation remains open along strike and dip, indicating further exploration potential
- Use of accredited SGS laboratory with defined XRF assay and QA/QC protocols
Negative
- Assay results for Fence 2 remain outstanding, limiting current project-wide visibility
News Market Reaction – EVIIF
In the Jun 9 session, EVIIF declined 36.43%, reflecting a significant negative market reaction.
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Vancouver, British Columbia--(Newsfile Corp. - June 9, 2026) - Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF) ("Eastport" or the "Company") is pleased to announce the second batch of laboratory assay results for the reverse circulation (RC) drilling program at the Foley Uranium Project in Botswana. The second batch covers the results for the final five of 16 drill holes located on drill Fence 1, the first batch of assay results were announced 28 May 2026.
CEO, Burns Singh Tennent-Bhohi, commented:
"The latest batch of assays at Foley complete the results for drill Fence 1, which shows significant uranium mineralisation over a full 1.4 kilometres of strike length.
Very encouragingly, these results confirm we are in the right rocks with the desired >200ppm U₃O₈ grade profile, with mineralisation remaining open to the north, south and east.
Whilst we still await the assay results for drill Fence 2, the Fence 1 results already warrant the commencement of additional drill fences, step-out drilling, and targeted geophysics to extend coverage to the north and east and to vector towards the key geological controls. By systematically mapping where the mineralisation thickens, enriches, or pinches out, we aim to rapidly unlock the true size potential of this exciting new uranium discovery in Botswana."
Highlight Drill Hole Intersections (depth stated downhole):
RC033: 5.0 m @ 309.0 ppm U₃O₈ from 75.0 m
RC034: 6.0 m @ 203.0 ppm U₃O₈ from 76.0 m, including 3.0 m @ 273 ppm U₃O₈ from 76.0 m.
RC037: 2.0 m @ 241.5 ppm U₃O₈ from 43.0 m and 2.0 m @ 450.0 ppm U₃O₈ from 54.0 m.
Previously reported results from Fence 1 (news release, 28 May 2026, link here):
RC006: 8.0 m @ 553.0 ppm U₃O₈ from 84.0 m, including 2.0 m @ 1,272 ppm U₃O₈ from 87.0 m.
RC003: 6.0 m @ 500.7 ppm U₃O₈ from 92.0 m, including 3.0 m @ 806 ppm U₃O₈ from 92.0 m.
RC005: 1.0 m @ 2,333 ppm U₃O₈ from 103.0 m.
The Fence 1 assay results demonstrate potential for widespread uranium mineralisation (>200ppm U3O8), with significant, laterally continuous, uranium mineralisation intersected in 7 of the 16 drill holes (see the Figure 1 plan and cross section).
The uranium mineralisation which remains open both along strike and dip, is hosted in Karoo Supergroup sediments in an interpreted paleo-channel setting.
Figure note: blue trace pressed pellet assay, left number is U3O8 assay value ppm, red arrows indicate latest, batch 2, assay results.
Figure 1: Plan and Cross-Section of Fence 1 Down-hole Assay Results
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The reported drill Fence 1 is located approximately 350 metres north of the Letlhakane deposit (Figure 2), a project owned by Lotus Resources Limited. According to publicly available disclosure by Lotus Resources Limited, the Letlhakane project hosts a reported Mineral Resource Estimate consisting of Indicated Mineral Resources of 71.6Mt grading 360 ppm U₃O₈ for 56.8 Mlb contained U3O8, and Inferred Mineral Resources of 70.6Mt at 366 ppm U₃O₈ for 56.9 Mlb contained U3O8, based on a 200ppm U3O8 cut-off grade.1
Furthermore, Lotus Resources concluded a Scoping Study for the Letlhakane Uranium deposit in 2025. The study outlined a 10-year open-pit mining operation producing approximately 3.0 million pounds of U₃O₈ annually, with estimated initial capital costs of US
The Company advises that mineralization hosted on adjacent, nearby or geologically similar properties, including the Letlhakane Project, is not necessarily indicative of mineralization on the Foley Project. The historical and technical information regarding the Letlhakane project has been sourced from publicly available disclosure by Lotus Resources Limited and has not been independently verified by the Company's Qualified Person.
Figure note: Fence 1 contains the drill holes for which results are reported. See Figure 2 for Drill Hole Section and Assay Results.
Figure 2: Location of Eastport Phase 1 Reverse Circulation Drilling Program Fence 1 and Fence 2 in Relation to the Neighbouring Lotus Letlhakane Resource Area.
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Pressed Pellet Assay Technique
Sample preparation and analytical work is conducted by SGS Group, an accredited laboratory based in Johannesburg, South Africa. Samples are weighted, dried, crushed, riffle split, and pulverized to a nominal pulp size suitable for pressed pellet analysis. Uranium and thorium are analyzed using a WD-X-ray fluorescence ("XRF") Spectrometer technique.
For the pressed pellet method (SGS analytical method code GE_XRF71UTH), a representative portion of pulverized sample is blended with a binding agent and compressed under high pressure to produce a homogeneous pellet for instrumental analysis. The prepared pellets are analyzed by XRF spectrometry to determine uranium and thorium concentrations, with certificated results for U, Th, U3O8 and ThO2.
Eastport implements quality assurance and quality control ("QA/QC") procedures including the routine insertion of blanks, and duplicate samples within the analytical stream. SGS also applies internal laboratory QA/QC protocols in accordance with their standard operating procedures.
Notes and References:
1 Lotus Resources Limited, ASX announcement titled: "Lotus increases Indicated Mineral Resources by
2 Lotus Resources Limited, ASX announcement titled: "Updated Letlhakane Scoping Study" highlights Lotus' potential to become a 5.5Mlbpa uranium producer", corrected version dated 12 March 2025.
(https://wcsecure.weblink.com.au/pdf/LOT/02924086.pdf)
Qualified Person
The technical information in this news release has been reviewed and approved by Nicholas O'Reilly MIMMM (QMR) MAusIMM MSc DIC, an independent consultant and Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Eastport Critical Metals Corp: Project Location Map
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About Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF)
Eastport is a critical minerals development company advancing five projects in Botswana, with cumulative historical and current expenditures approaching CAD
The Company's additional projects include Selebi East, a nickel-copper-cobalt project located seven kilometres east of the historic Selebi Mines; the Semarule Rare Earth Elements Project, positioned within the Gaborone-Molepolole corridor; the Foley Uranium Project, adjoining the Letlhakane uranium deposit; and the Keng Project, which targets nickel, copper and PGE's on the northern margin of the Molopo Farms Complex.
Botswana is widely regarded as one of Africa's strongest mining jurisdictions, combining the continent's highest GDP per capita with a 50-year track record of large-scale mineral development since the Orapa diamond discovery in 1967. The country ranks among the top performers globally on the Fraser Institute's Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on the Policy Perception Index. These rankings reflect Botswana's stable regulatory environment, consistent rule of law, and long-standing support for responsible mineral development - factors that have underpinned significant investment and major M&A activity in the natural resources sector in recent years.
On behalf of the Board of Directors
"Burns Singh Tennent-Bhohi"
Burns Singh Tennent-Bhohi, CEO
Eastport Critical Metals Corp.
For further information about Eastport, please contact:
Burns Singh Tennent-Bhohi
CEO and Director
burns@eastportcmc.com
Investor Relations
Kin Communications Inc.
6046846730
evi@kincommunications.com
Disclaimer for Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the Company delivering value to its shareholders through its critical metal's portfolio; the Company's exploration and development programs; and the advancement of multi-asset drill campaigns across key critical metals and the timing thereof.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: fluctuations in commodity prices for critical metals, including copper, uranium and rare earth elements; the Company's ability to successfully execute its exploration and development programs; risks inherent in mineral exploration activities; the Company's ability to meet anticipated timelines for its multi-asset drill campaigns; and operational risks and technical challenges associated with exploration activities in Botswana.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company's exploration and development programs will proceed as planned; commodity prices for critical metals will remain at levels sufficient to support continued exploration activities; the Company will continue to have access to the necessary permits, equipment and qualified personnel to conduct its exploration programs; the Company's critical metal's portfolio will continue to present viable opportunities for value creation; and the Company will conduct its exploration programs\as currently anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300666