New Frontier Minerals Announces Binding Option to Acquire 90% of Advanced Pomme Rare Earth Elements Project in Quebec from Metallium Ltd.

New Frontier Minerals (OTCQB: NFMXF) secured a binding option to acquire 90% of the advanced Pomme Rare Earth Element project in Quebec from Metallium (OTCQX: MTMCF).

Rhea-AI Summary

New Frontier Minerals (OTCQB: NFMXF) secured a binding option to acquire 90% of the advanced Pomme Rare Earth Element project in Quebec from Metallium (OTCQX: MTMCF).

The project covers ~9 square miles (43 claims), historic drilling (13 holes, ~3.5 miles) intersected REE-Nb mineralization in every hole across a >2km lateral system; early Metallium Flash Joule Heating test work and Canadian government and local Cree First Nations arrangements are in place.

Positive

• Binding option to acquire 90% of Pomme project
• Project scale: 43 claims covering ~9 square miles
• Historic drilling: 13 holes (~3.5 miles) with REE-Nb in every hole and a >2km mineralized system
• Processing partnership with Metallium for FJH test work

Negative

• Broad drill spacing left large portions of the ring structure untested, requiring follow-up drilling

Argus Feb 12 session

-9.36% close to close Open Argus

Details

News Market Reaction – MTMCF

On Feb 12, the day this news came out, MTMCF closed 9.36% below the previous close.

Data tracked by StockTitan Argus for the Feb 12 session.

Key Figures

Strategic raise: A$75 million Placement price: A$0.84 per share Discount to last close: 8.7% +5 more

Strategic raise

A$75 million

Strategic capital raise completed Jan 21, 2026

Placement price

A$0.84 per share

Pricing for Jan 21, 2026 capital raise

Discount to last close

8.7%

Discount on A$0.84 placement vs last close

Non-dilutive funding

Up to US$10.1 million

ElementUSA LOI for initial FJH deployment

ADR ratio

20 MTM shares per ADR

Level 1 ADR program launched Jan 12, 2026

Target throughput

8,000 TPA

Stage 1 PCB throughput at Texas Technology Campus by Q3 2026

TREO upgrade

1.7% to 35.0%

Harts Range ore after single FJH treatment step

Dy and Tb enrichment

53x Dy, 21x Tb

Enrichment factors from FJH treatment of Harts Range ore

Historical Context

5 past events · Latest: Jan 21

5 events

1. Jan 21

   Capital raise

   24h Move

   -1.7%

   A$75M strategic placement to fund Texas campus, ADR support and NASDAQ plans.

2. Jan 12

   ADR listing

   24h Move

   -1.8%

   Launch of Level 1 ADR on OTCQX to expand U.S. investor access.

3. Dec 29

   Campus commissioning

   24h Move

   +7.4%

   Start of Texas Technology Campus commissioning after first chlorine flash of FJH.

4. Dec 12

   Funding LOI

   24h Move

   -3.9%

   LOI with ElementUSA including up to US$10.1M non-dilutive FJH funding.

5. Nov 18

   Technology rights

   24h Move

   -2.0%

   Exclusive rights to treat Harts Range ore after strong FJH upgrade results.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

flash joule heating, carbonatite-hosted, rare earth elements, niobium

4 terms

flash joule heating technical

"Metallium's Flash Joule Heating (FJH) test work on existing drill samples"

Flash joule heating is a process that uses a very brief, high-intensity electrical pulse to heat a material almost instantaneously, transforming its structure or purifying it in seconds. Think of it like an ultra-fast, high-energy toaster that changes raw material into a finished ingredient; for investors it matters because the technique can lower production time and energy costs, enable new materials or recycling routes, and create competitive manufacturing advantages.

carbonatite-hosted technical

"Pomme is a large, carbonatite-hosted REE system in a proven Quebec district"

A deposit described as carbonatite-hosted lies within or formed from carbonatite, a rare type of volcanic rock made largely of carbonate minerals. These rocks can concentrate valuable elements such as rare earths, niobium, or phosphate, so finding ore in a carbonatite is like discovering a neighborhood where certain valuable goods naturally pile up — it helps investors gauge a project’s potential value, extraction challenges, and market relevance.

rare earth elements technical

"Pomme Rare Earth Element and Niobium Project"

Rare earth elements are a set of 17 chemical metals used to make powerful magnets, batteries, catalysts and many tiny components inside electronics, renewable energy equipment and defense systems. They matter to investors because they are essential inputs for fast‑growing industries, and limited or concentrated supply can drive prices, create production bottlenecks or shift competitive advantage — like a factory running short of a specialized ingredient that halts output and affects profits.

niobium technical

"Pomme Rare Earth Element and Niobium Project"

Niobium is a metallic element used as a small but critical ingredient in alloys and high-performance materials to improve strength, heat resistance and electrical properties. For investors, niobium acts like a specialty ingredient in a recipe: a little goes a long way and its availability and price can significantly affect costs and margins for companies in construction, transport, energy and advanced technology sectors that rely on stronger, lighter or superconducting materials.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Metallium to Serve as Processing and Technology Partner

PERTH, Australia, Feb. 12, 2026 /PRNewswire/ -- New Frontier Minerals Ltd. (ASX: NFM; OTCQB: NFMXF; LSE: NFM) announced it has entered into a binding option and earn-in agreement with the right to acquire a majority (90%) interest in the Pomme REE Project from Metallium Ltd. (ASX: MTM; OTCQX: MTMCF and MTMLY). The project is located approximately 310 miles northwest of Montreal in Quebec and consists of 43 mineral claims, covering approximately nine square miles. New Frontier holds the exclusive and binding option to acquire 90% of the project. More information can be found here: 2924-03055753-6A1311626&v=undefined.

The acquisition provides New Frontier with a strategic foothold in the North American critical minerals supply chain and complements the Company's heavy rare earth portfolio in Australia.

"This transaction materially advances our critical minerals strategy," said Gerrard Hall, chairman of New Frontier Minerals. "Pomme is a large, carbonatite-hosted REE system in a proven Quebec district, with historical drilling that has confirmed scale and continuity. The earn-in structure of this agreement provides a capital-efficient pathway for growth, while early integration of Metallium as processing and technology partner further enhances the opportunity. New Frontier's board believes Pomme's scale, location and upside strongly position New Frontier to deliver meaningful shareholder value and brings us a presence in the all-important North American critical minerals market."

Initial activities will target conventional metallurgical studies and work and Metallium's Flash Joule Heating (FJH) test work on existing drill samples to produce an upgraded REE concentrate. Canadian Government support and existing arrangements with local Cree First Nations of Waswanipi are already in place.

MTM completed a 13-hole diamond drilling program totaling approximately 3.5 miles at its Pomme Rare Earth Element and Niobium Project. Carbonatite-hosted REE-Nb mineralization was intersected in every drill hole, confirming the presence of a large, laterally extensive mineralized system exceeding 2km that remains open at depth. The historic work program has significantly advanced the geological understanding of the complex, with early interpretations indicating higher-grade mineralization occurring within a ring structure surrounding a magnetic ultramafic carbonatite core. Large portions of this prospective ring structure remain untested due to the broad drill spacing, presenting clear potential for further discovery through follow-up drilling.

New Frontier Minerals Limited is an Australian-based focused explorer working to develop multi-commodity assets that demonstrate future potential as economic mining operations. Through application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests. The Company's current focus is on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project in the Northern Territory of Australia. Other assets include the NWQ Copper Project, situated on the copper belt district north of Mt. Isa in Queensland.

View original content:https://www.prnewswire.com/news-releases/new-frontier-minerals-announces-binding-option-to-acquire-90-of-advanced-pomme-rare-earth-elements-project-in-quebec-from-metallium-ltd-302685917.html

SOURCE New Frontier Minerals

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did New Frontier Minerals announce about acquiring the Pomme REE project (MTMCF) on Feb 12, 2026?

They announced a binding option to acquire 90% of Pomme from Metallium. According to the company, the earn-in gives New Frontier a majority stake and a capital-efficient pathway to develop the Quebec REE-Nb project.

How large is the Pomme rare earth project that New Frontier (MTMCF) is acquiring access to?

Pomme covers approximately 43 mineral claims (~9 square miles). According to the company, historic drilling shows a laterally extensive REE-Nb system exceeding 2km and remains open at depth.

What exploration work has been completed at Pomme before New Frontier's option (MTMCF)?

Metallium completed a 13-hole diamond drilling program totaling ~3.5 miles. According to the company, REE-Nb mineralization was intersected in every hole, with higher-grade zones in a ring around a carbonatite core.

What processing or technology support will Metallium provide after the New Frontier option (MTMCF)?

Metallium will serve as a processing and technology partner, supplying Flash Joule Heating (FJH) test work. According to the company, FJH aims to produce an upgraded REE concentrate from existing drill samples.

What are the near-term risks or next steps for New Frontier after acquiring 90% of Pomme (MTMCF)?

Near-term work will focus on metallurgical studies and follow-up drilling to test untested ring areas. According to the company, broad historic drill spacing leaves significant targets that require confirmation and delineation.