CORRECTION FROM SOURCE: Volta Intersects 0.81% Total Rare Earth Oxide and 68.13 g/t Gallium Oxide over 688m at Springer REE Project in Ontario, Canada
Rhea-AI Summary
Volta Metals (OTCQB:VOLMF) reported drill results from hole SL26-35 at the Springer rare earth and gallium project in Ontario. The hole intersected 688.4 m grading 0.81% TREO and 68.13 g/t Ga2O3 from 4.6 m to 693.0 m, including 210 m at 1.01% TREO and 79.02 g/t Ga2O3. The intersection extends known mineralization about 180 m laterally and 260 m vertically beyond the current pit shell. The Springer deposit’s 2025 MRE totals 56.6 Mt Indicated at 0.70% TREO and 119.5 Mt Inferred at 0.58% TREO above a C$43/t net metal revenue cut-off. True thickness of intervals is not yet known and mineral resources lack demonstrated economic viability.
AI-generated analysis. Not financial advice.
Positive
- SL26-35 intersects 688.4 m at 0.81% TREO and 68.13 g/t Ga2O3
- Higher-grade 210 m zone at 1.01% TREO and 79.02 g/t Ga2O3
- Best 7.1 m interval includes up to 3,062.7 g/t Nd2O3 and 859.71 g/t Pr6O11
- Mineralization extended ~180 m laterally and 260 m vertically beyond pit shell
- Springer MRE: 56.6 Mt Indicated at 0.70% TREO; 119.5 Mt Inferred at 0.58% TREO
- Indicated resources up 1,248% and Inferred up 841% versus 2012 estimate
- Low radioactivity averages: 74 ppm Th and 9 ppm U across 2,234 assays
Negative
- True thickness or width of reported drill intervals remains unknown
- Mineral resources are not reserves and lack demonstrated economic viability
- Assays for additional 2026 drill holes are still pending
- Current MRE and results are constrained to an optimized open pit shell
News Market Reaction – VOLMF
On the day this news was published, VOLMF gained 16.80%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
This news release corrects and replaces the June 8, 2026 release of the same headline. Two corrections were made: descriptive language was revised for balanced, non-promotional disclosure, and a statement was added noting the true thickness or width of the reported intervals is not known (intervals are drilled, downhole lengths). All other information is unchanged.
HIGHLIGHTS
- SL26-35 contains the longest REE-Ga mineralized interval to date at Springer.
- Gallium and Rare Earth Elements are designated critical minerals by Canada, the U.S., and EU, vital to semiconductors, defense, and clean energy. At 688 metres ("m"), this is one of the longest mineralized intervals ever reported at a North American REE project, with grades that rank among the continent's best:
0.81% TREO and 68.13 g/t Ga2O3 over 688 m, from 4.6 m to 693.0 m, including.1.01% TREO and 79.02 g/t Ga2O3 and over 210 m, from 366 m to 576 m.
- The hole also significantly extends the REE-Ga mineralization approximately 180 m laterally and 260 m vertically from the current open pit shell.
- Premium magnet Heavy and Light Rare Earth Elements intersected include 7.1 m of:
- Terbium up to 23 g/t Tb4O7 and Dysprosium up to 94 g/t Dy2O3.
- Gadolinium up to 255 g/t Gd2O3 and Samarium up to 468 g/t Sm2O3.
- Neodymium up to 3,063 g/t Nd2O3 and Praseodymium up to 860 g/t Pr6O11.
Toronto, Ontario--(Newsfile Corp. - June 8, 2026) - Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTCQB: VOLMF) ("Volta" or the "Company") is pleased to announce drill core assay results from SL26-35, the longest drill hole of the 2026 winter drill program at its Springer Rare Earth Element deposit (the "Property"), near Sturgeon Falls, Ontario, Canada. Drill hole SL26-35 intersected a significant 688 m interval of Gallium and Rare Earth Element ("Ga-REE") mineralization grading
From January to April 2026, Volta completed a 13-hole drill program at the Springer deposit (SL26-27 to 39) totalling 5,452 m. The drill program was designed to upgrade the current mineral resource estimate ("MRE") through infill drilling, while also expanding the known REE-Ga mineralization. Drill hole SL26-35 intersected a carbonatite dyke from west to east, demonstrating strong continuity of the REE-Ga mineralization. The hole also significantly extends the Ga-REE mineralization approximately 180 m laterally and 260 m vertically from the current open pit shell. (Figure 1).
"A 688 m continuous intersection of gallium and rare earth mineralization extends our deposit footprint well beyond the current pit shell. With geopolitical pressure on critical mineral supply chains intensifying, the scale and quality of what we are discovering and advancing at Springer puts Volta in a position we are very proud of." Kerem Usenmez, President & CEO, Volta Metals Ltd.
Assay highlights are given in Table 1. Drill hole SL26-35 contains significant amounts of individual REEs as shown in Table 2. Assays are pending for additional drill holes. Drill hole SL26-35 collar coordinates are given in Table 3.
Figure 1 Cross section of SL26-35 showing TREO% and Ga2O3 g/t assays along the drill hole trace.
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Table 1: Assay highlights table from drill hole SL26-35, Springer.
| From (m) | To (m) | Interval (m) | TREO (%) | Ga2O3 (g/t) | Dy2O3 (g/t) | Nd2O3 (g/t) | Pr6O11 (g/t) | Tb4O7 (g/t) |
| 4.60 | 693.00 | 688.40 | 0.81 | 68.13 | 39.2 | 1,410.3 | 417.3 | 9.7 |
| including | ||||||||
| 137.30 | 144.40 | 7.10 | 1.69 | 95.27 | 94.3 | 3,062.7 | 859.7 | 23.1 |
| 184.50 | 186.00 | 1.50 | 2.12 | 98.66 | 89.2 | 4,315.7 | 1,152.6 | 26.5 |
| 366.00 | 576.00 | 210.00 | 1.01 | 79.02 | 33.7 | 1,582.8 | 500.6 | 8.9 |
| including | ||||||||
| 379.50 | 381.00 | 1.50 | 1.98 | 125.82 | 60.7 | 2,869.3 | 919.4 | 16.9 |
| 414.00 | 415.50 | 1.50 | 1.87 | 127.70 | 37.9 | 2,577.7 | 868.7 | 12.1 |
| 489.00 | 490.50 | 1.50 | 2.30 | 121.65 | 52.0 | 3,662.5 | 1,180.4 | 15.6 |
| 529.50 | 535.50 | 6.00 | 1.75 | 101.22 | 53.9 | 2,828.5 | 865.4 | 15.4 |
| 546.00 | 553.50 | 7.50 | 1.45 | 101.06 | 31.3 | 2,461.1 | 760.9 | 9.2 |
| 628.50 | 655.50 | 27.00 | 1.22 | 82.30 | 30.7 | 2,437.2 | 690.0 | 9.8 |
| 686.00 | 687.00 | 1.00 | 2.36 | 113.18 | 37.9 | 3,557.5 | 1,149.0 | 13.2 |
*TREO% = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3%
**True thickness/width of mineralization is unknown
Table 2: Best interval for individual Rare Earth Elements in SL26-35, Springer.
| From (m) | To (m) | Interval (m) | Dy2O3 (g/t) | Gd2O3 (g/t) | Nd2O3 (g/t) | Pr6O11 (g/t) | Sm2O3 (g/t) | Tb4O7 (g/t) |
| 137.3 | 144.4 | 7.1 | 94.30 | 255.00 | 3,062.70 | 859.71 | 468.09 | 23.10 |
The geology of drill hole SL26-35 is hematitized brecciated syenite crosscut by white vuggy carbonatite veins. There is an excellent correlation between the Ga and REE within the dolomite carbonatite veins. Figure 2 shows an example of the typical mineralization at Springer and corresponds to 95.27 g/t Ga2O3 and 1.69 % TREO over 7.1m.
Figure 2: Core photo of drill hole SL26-35, 138.8-144.4 m showing white carbonatite with red hematite hosted by red hematitized syenite.
To view an enhanced version of this graphic, please visit:
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Details
Drill hole SL26-35 was designed to test carbonatite-hosted REE and Ga mineralization below the current conceptual open pit depth, while also collecting geotechnical data to support open pit design optimization as part of the planned Preliminary Economic Assessment ("PEA") study.
SL26-35 is the deepest drill hole completed to date at the Springer deposit and has successfully extended the known REE-Ga mineralization approximately 180 m laterally and 260 m vertically beyond the current open pit shell (Figure 1).
Geochemical assays and detailed petrographic analyses from the 2011, 2012 and 2025 drill programs indicate that both REE and Ga mineralization is hosted within the carbonatite system. The REEs, along with a portion of the gallium, are primarily hosted in synchysite, a well-recognized REE calcium-cerium fluorocarbonate mineral. Synchysite concentrates light rare earth elements, including cerium (Ce), lanthanum (La), neodymium (Nd), and praseodymium (Pr), as well as heavy rare earth elements like dysprosium (Dy), terbium (Tb), as well as gallium (Ga). The identification of synchysite as the principal host mineral is significant, as it is amenable to well-established REE recovery processes.
The Springer REE-Ga deposit benefits from exceptionally low levels of radioactivity relative to many rare earth element deposits. Based on 2,234 assays collected from 2025 and 2026 drill core, the deposit averages just 74 ppm thorium (Th) and 9 ppm uranium (U).
For context, Canadian federal transportation licensing requirements for radioactive materials are triggered at thorium concentrations above 17,240 ppm under the Packaging and Transport of Nuclear Substances Regulations, 2015 ("PTNSR 2015"), Section 2(2)(a). This low-radioactivity profile may represent a significant advantage in permitting, handling, transportation, and processing for the Springer project versus its peers.
Table 3: Drill hole SL26-35 collar table, UTM NAD 83, Zone 17.
| Drill hole no. | Easting (m) | Northing (m) | Elevation (m) | Azimuth (°) | Dip (°) | Length (m) |
| SL26-35 | 580451 | 5143758 | 251 | 90 | -60 | 693 |
Resource Estimate
On February 23, 2026, Volta reported an updated Mineral Resource Estimate ("MRE") for the Springer deposit, effective December 31, 2025, prepared by SLR Consulting (Canada) Ltd. The MRE comprises of 56.6 Mt Indicated at
The Company cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability.
Mineralization remains open in all directions. An NI 43-101 Technical Report supporting the MRE was filed on SEDAR+ on April 9, 2026.
QA/QC Protocol
All drilling was completed by a diamond drill rig producing NQ-size core. Volta implemented a strict QA/QC protocol in processing all rock samples collected from the diamond core samples obtained from the Springer REE property. The protocol included inserting reference materials, in this case, high-concentration and low-concentration certified rare earth elements standards, blanks, and drill core duplicates, to validate the accuracy and precision of the assay results. All collected rock core samples were cut in half by a rock saw, placed in sturdy plastic bags and zip-tied shut while under the supervision of a professional geologist. The remaining half core was returned to the core box, which is stored on the Property. The samples were shipped from Volta's core shack in Sturgeon Falls to the Saskatchewan Research Council's ("SRC") facility in Saskatoon, Saskatchewan, using the Manitoulin Transport freight shipping company.
The drill core samples were subsequently analyzed at SRC, using Code 8-REE Assay (lithium metaborate/ tetraborate fusion with subsequent analysis by ICP and ICP/MS). SRC has ISO/IEC 17025: 2017 accreditation from the Standards Council of Canada ("SCC"). Syenite standard SY-5 from Natural Resources Canada was inserted by SRC in the sample stream for every 20 drill core samples. Standard SY-5 passed within two standard deviations for rare-earth elements (La to Lu) and Ga. All internal standards and duplicates, and all external blanks, standards and core duplicates passed a Quality Control review by the Qualified Person.
Qualified Person
The technical content of this press release has been reviewed and approved by Dr. Julie Selway, P.Geo., VP, Exploration, and Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For more information about the Company, please visit Volta's website at www.voltametals.ca.
ABOUT VOLTA METALS LTD.
Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTCQB: VOLMF) is a critical mineral exploration company focused on rare earths, gallium, lithium, cesium, and tantalum. Volta owns, has optioned and is currently exploring a critical minerals portfolio of rare earths, gallium, lithium, cesium, and tantalum projects in Ontario, one of the world's most prolific and emerging hard-rock critical mineral districts.
Volta is advancing its 4,750-hectare Springer REE Deposit, which is located on the traditional territory of the Nipissing First Nations in Sturgeon Falls. The Springer Rare Earth Element deposit is located approximately 70 km east of Sudbury, Ontario, with direct access via the Trans-Canada Highway and Highway 64. The project benefits from well-developed infrastructure including paved road access, on-site power lines fed from the Crystal Falls hydroelectric dam, a natural gas pipeline, and Canadian National Railway service, all within 8 km of the deposit.
To learn more about Volta and its Springer and Aki Projects, please visit www.voltametals.ca.
ON BEHALF OF THE BOARD
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 416.919.9060
Email: info@voltametals.ca
Website: www.voltametals.ca
Neither the CSE nor the Canadian Investment Regulatory Organization (CIRO) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to exploration activities, plans, strategies, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking information in this news release includes, but is not limited to, the expected timing of assay results from the Saskatchewan Research Council, the geological interpretation of the Springer REE deposit as a vertically extensive carbonatite pipe system, and the potential for the 2026 drilling program to support future resource estimation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the risks detailed from time to time in the filings made by the Company with securities regulators; the future prices and demand for rare earth elements and gallium; laboratory results that differ from visual or geological observations; and delays or the inability of the Company to obtain any necessary approvals, permits and authorizations required to carry out its business plans. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required by law.
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