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

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

News Market Reaction – NFMXF

-67.11%

1 alert

-67.11% News Effect

On the day this news was published, NFMXF declined 67.11%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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

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.