{"success":true,"data":{"pressRelease":{"id":"149650","rtpr_id":"nBw5tHN5ga-20260922","ticker":"TREO","exchange":"NASDAQ","all_tickers":["TREO"],"title":"Tactical Resources Announces Plans to Advance the Peak Project, Texas, USA","author":"Business Wire","published_at":"2026-09-22T12:30:00.621Z","article_body":"Tactical Resources Announces Plans to Advance the Peak Project, Texas, USA\n\nCompany Sets Out a Next-Phase Program Spanning Process Work, Permitting\nRoadmaps and Downstream Partnerships, Following Independent Testing That\nReturned TREE+Y Extraction Rates of up to 96.1%\n\nTactical Resources Corp.\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftacticalresources.com%2F&esheet=54608324&newsitemid=20260921855187&lan=en-US&anchor=Tactical+Resources+Corp.&index=1&md5=80f82dd9c1356d2b05c62212ad5499ab)\n(Nasdaq: TREO) (“Tactical” or the “Company”), a U.S.-focused rare\nearth elements company, today provided an update on its initial plans to\nadvance its Peak Project in Hudspeth County, Texas following its Nasdaq\nlisting.\n\nPeak Project Core Fundamentals\n\nIndependent testing. Work to date has been supported by APEX Geoscience,\nKemetco Research, Forte Dynamics and the University of Texas at Austin.\n\nHeavy rare earth profile. Analytical work showed heavy rare earth elements\nplus yttrium averaging 2.09 times the light rare earth elements.\n\nMaterial already mined. Two decades of railway ballast crushing at the Sierra\nBlanca Quarry produced pre-crushed fines materials that are stockpiled on\nsurface. The Company’s 2022 technical report described the material as\nalready mined, crushed, conveyed and stockpiled.\n\nSecured feedstock position. The pre-crushed fines stockpiled material is\naccessible to Tactical under a 2026 purchase and sale agreement, together with\nan option over the quarry operation itself.\n\nRanjeet Sundher, Chief Executive Officer of Tactical, said, “Peak is a very\nspecial project in this sector because the potential feedstock material is\nalready out of the ground. Two decades of quarry operations produced it, and\nit is sitting on surface in West Texas. Our technical work has concentrated on\nwhether that material can be processed, and on the heavy rare earth profile it\ncarries, which is where the United States is most exposed. With the Nasdaq\nlisting complete, we are moving the project into its next phase.”\n\nPeak’s Rare Earth Momentum\n\nWork Completed to Date\n\nSince acquiring its interest in the Peak Project, Tactical has advanced work\nacross field sampling, independent assaying, quality assurance and quality\ncontrol, mineralogical studies, drone surveys, scoping metallurgical testing,\nsample characterization, bench-scale leach testing, vat-leach testing,\npermeability testing and project planning. This work has established a\ntechnical base for the next work program, which includes exploration and an\nassessment of mineral resources.\n\nIndependent Geological Foundation\n\nTactical’s 2021 program collected samples from the active and historical\nquarry areas. The samples were analyzed by an independent accredited\nlaboratory, reviewed by independent Qualified Persons, who found that the data\nwere suitable for the report and potential future mineral resource modelling.\n\nIn September 2022, Tactical filed the initial NI 43-101 / SK-1300 technical\nreport for Peak. Prepared by APEX Geoscience Ltd. and Kemetco Research Inc.,\nthe report summarized the Company’s 2021 and 2022 exploration and\nmetallurgical work and set out recommendations for a two-phase work program.\n\nHeavy Rare Earth Element and Mineralogical Profile\n\nTactical’s analytical dataset (n=40 samples) showed that heavy rare earth\nelements plus yttrium (“HREE+Y”) averaged 2.9 times the light rare earth\nelements (“LREE”). Additionally, independent samples collected by the\nQualified Person during a site inspection (n=8 samples) returned a comparable\nprofile and validated the HREE mineralization and other elements. The material\nalso showed enrichment in lithium, niobium, rubidium, yttrium and zirconium.\n\nMineralogical work at the University of Texas at Austin identified accessory\nminerals including cassiterite, columbite, yttrofluorite, yttrocerite, thorite\nand zircon. Two drone surveys completed by Texas registered land surveyors\nmapped the active pre-crushed fines stockpile.\n\nMetallurgical Results\n\nInitial metallurgical test work conducted by Kemetco assessed direct-leach\namenability and maximum extraction potential across four leach conditions.\nResults from all four are reported below. Extraction response varied widely by\nreagent and test condition, from less than 25.3 percent to 96.1 percent.\n\nPreliminary total rare earth elements plus yttrium (“TREE+Y”) extraction\nrates were as follows:\n\n\n * Ambient-temperature hydrochloric acid bottle-roll: less than 25.3 percent\n\n * Ambient-temperature sulfuric acid bottle-roll: 88 percent to 93 percent\n\n * Heated sulfuric acid agitated-tank: 89 percent to 90 percent\n\n * Heated hydrochloric acid agitated-tank: 95.6 percent to 96.1 percent\n\nThe work also identified lithium as a potential by-product for further study.\nHeated hydrochloric acid agitated-tank tests returned lithium extraction\nresults of 66.2 percent to 87.6 percent, while acid-bake and water-leach tests\nreturned 90 percent to 96 percent lithium extraction.\n\nThese were scoping-scale results from composite samples. They do not establish\ncommercial-scale recovery. Further work is required on material variability,\nreagent consumption, impurity removal, leach-solution processing, production\nof saleable products, water balance, and by-product and waste handling.\n\nPhase 1 Metallurgical Work Program\n\nIn May 2024, Tactical reported that sample characterization, bench-scale leach\ntesting, vat-leach testing and permeability testing had been completed, with\ndata analysis and reporting in progress. Currently, column-leach testing\nresults and internal desktop benchmarking and scoping studies are ongoing.\n\nThe programs were designed to build an initial geometallurgical database,\nassess leaching at fine and coarse particle sizes, evaluate hydraulic\nconductivity of potential feed blends and identify project value drivers.\nTactical also engaged Forte Dynamics Inc. to review available data, conduct a\ngap analysis and develop a roadmap toward a preliminary economic assessment.\n\nThe 2022 technical report recommended future sonic drilling, geophysical\nsurveys, core sampling and bench- and column-scale metallurgical testing,\nfollowed, if warranted, by advanced metallurgy, demonstration plant planning,\npermitting and environmental work, community engagement and technical\nreporting.\n\nNext Phase of Technical Work\n\nBuilding on the work completed to date and pending the receipt and review of\nthe results from the Phase-1 Metallurgical Work Program, Tactical is starting\nto pre-plan the next phase of work at the Peak Project. Key areas of focus are\nintended to include:\n\n\n * Finalizing Phase-1 work program results\n\n * Advancing process development\n\n * Developing permitting and environmental roadmaps\n\n * Growing downstream strategic partnerships\n\n * Establishing engineering workflows\n\n * Expanding exploration and geological studies\n\n * Updating Technical Reports\n\nThe company’s immediate efforts are aimed at accelerating project growth and\ndevelopment activities in support of future fast-tracked production decisions.\n\nProject Background\n\nPeak is located within the active Sierra Blanca Quarry, approximately 90 miles\nsoutheast of El Paso. The project focuses on rare earth-enriched pre-crushed\nfines stockpiles generated by quarry operations. The Company’s 2022 NI\n43-101 / SK-1300 technical report described the material as already mined,\ncrushed, conveyed and stockpiled, and identified road access, a rail spur,\npower and space for project work at the quarry.\n\nSecured Feedstock Position\n\nIn March 2026, Tactical entered into a Purchase and Sale Agreement with Sierra\nBlanca Quarry, LLC covering approximately four million tons of pre-crushed\nfines stockpiled material generated by the ballast crushing plant, rights to\nadditional stockpiled fines materials produced thereafter, and an exclusive\noption to acquire 100 percent of the membership interests of Sierra Blanca\nQuarry, LLC through a blend of cash and stock. The agreement has an initial\nterm expiring July 31, 2036. In April 2026, the Company entered into an Asset\nPurchase Agreement converting approximately 1.5 million tons of that fines\nmaterials access into secured ownership, the first tranche within a staged\nacquisition strategy. The agreements remain subject to their respective terms\nand conditions.\n\nNo mineral resources or mineral reserves have been estimated for the\npre-crushed fines stockpiled material. The tonnage figures above are derived\nfrom the Company’s commercial agreements rather than from an estimate of\nmineral resources or mineral reserves.\n\nThe Company’s common shares began trading on the Nasdaq Capital Market under\nthe symbol “TREO” on August 20, 2026. The listing provides access to U.S.\ncapital markets as Tactical continues technical, engineering and permitting\nwork at Peak.\n\nTechnical Disclosure\n\nThe scientific and technical information in this release is based on the\nCompany’s NI 43-101 technical / SK-1300 report with an effective date of\nSeptember 15, 2022, and prior Company disclosures. The Peak Project remains an\nearly-stage project, and Tactical has not completed mineral resource\nestimation work.\n\nRoy Eccles P. Geol. of APEX Geoscience Ltd., an independent “qualified\nperson” as defined by National Instrument 43-101 – Standards of Disclosure\nfor Mineral Projects and is independent of the company, has reviewed and\napproved the geologic scientific and technical information in this press\nrelease as they relate to the geological sections of the technical report he\nis responsible for.\n\nNorman Chow M.A.Sc., P. Eng. President of Kemetco Research Inc., an\nindependent “qualified person” as defined by National Instrument 43-101\n– Standards of Disclosure for Mineral Projects and is independent of the\nCompany, has reviewed and approved the metallurgical scientific and technical\ninformation in this press release as they relate to the sections of technical\nreport he is responsible for.\n\nAbout Tactical Resources\n\nTactical Resources is a natural resources company focused on rare earth\nelements critical to advanced technologies, including semiconductors, electric\nvehicles, robotics, aerospace systems, and national defense applications. The\nCompany is advancing the Peak Project in Hudspeth County, Texas, as part of\nits strategy to help build a secure domestic supply chain, reduce reliance on\nforeign-controlled sources and strengthen North American critical mineral\nsecurity.\n\nTactical Resources is also pursuing innovative metallurgical processing and\nseparation technologies designed to improve the economics, scalability, and\nsustainability of rare earth production. Through this integrated approach, the\nCompany aims to become a key participant in the rapidly growing U.S. critical\nminerals ecosystem.\n\nFor additional information, please visit www.tacticalresources.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.tacticalresources.com&esheet=54608324&newsitemid=20260921855187&lan=en-US&anchor=www.tacticalresources.com&index=2&md5=c2cf11e455f4153a41968d55c96ff171)\n.\n\nForward-Looking Statements\n\nCertain statements included in this press release are not historical facts but\nare forward-looking statements for purposes of the safe harbor provisions\nunder the United States Private Securities Litigation Reform Act of 1995. All\nstatements other than statements of historical facts contained in this press\nrelease are forward-looking statements. Any statements that refer to\nprojections, forecasts or other characterizations of future events or\ncircumstances, including any underlying assumptions, are also forward-looking\nstatements. In some cases, you can identify forward-looking statements by\nwords such as “estimate,” “plan,” “project,” “forecast,”\n“intend,” “expect,” “anticipate,” “believe,” “seek,”\n“strategy,” “future,” “opportunity,” “may,” “target,”\n“should,” “will,” “would,” “will be,” “will continue,”\n“will likely result,” “preliminary,” or similar expressions that\npredict or indicate future events or trends or that are not statements of\nhistorical matters, but the absence of these words does not mean that a\nstatement is not forward-looking. Forward-looking statements include, without\nlimitation, Tactical’s or its management team’s expectations concerning\nthe outlook for Tactical’s business, productivity, plans, and goals for\nfuture operational improvements and capital investments, operational\nperformance, future market conditions, or economic performance and\ndevelopments in the capital and credit markets and expected future financial\nperformance, including expected net proceeds, expected additional funding, the\nsupport of key stakeholders in the U.S. government, growth prospects and\noutlook of Tactical’s operations, individually or in the aggregate,\nincluding the achievement of project milestones, commencement and completion\nof commercial operations of certain of Tactical’s projects, as well as any\ninformation concerning possible or assumed future results of operations of\nTactical. Forward-looking statements also include statements regarding the\nexpected benefits of the Business Combination. The forward-looking statements\nare based on the current expectations of the management team of Tactical, and\nare inherently subject to uncertainties and changes in circumstance and their\npotential effects. There can be no assurance that future developments will be\nthose that have been anticipated. These forward-looking statements involve a\nnumber of risks, uncertainties or other assumptions that may cause actual\nresults or performance to be materially different from those expressed or\nimplied by these forward-looking statements. These risks and uncertainties\ninclude, but are not limited to, (i) market risks; (ii) the outcome of any\nlegal proceedings that may be instituted against Tactical or Plum related to\nthe Business Combination; (iii) failure to realize the anticipated benefits of\nthe Business Combination; (iv) the risk that the price of Tactical’s\nsecurities may be volatile due to a variety of factors, including changes in\nthe highly competitive industries in which Tactical plans to operate,\nvariations in performance across competitors, changes in laws, regulations,\ntechnologies, natural disasters or health epidemics/pandemics, national\nsecurity tensions, and macro-economic and social environments affecting its\nbusiness; (v) the inability to implement business plans, forecasts, and other\nexpectations, identify and realize additional opportunities, and manage its\ngrowth and expanding operations; (vi) the risk that Tactical may not be able\nto successfully develop its mining projects, and/or its expansion plan; (vii)\nthe risk that Tactical will be unable to raise additional capital to execute\nits business plan, which may not be available on acceptable terms or at all;\n(viii) political and social risks of operating in the U.S. and other\ncountries; and (ix) the operational hazards and risks that Tactical faces. The\nforegoing list is not exhaustive, and there may be additional risks that\nTactical presently does not know or that Tactical currently believes are\nimmaterial. You should carefully consider the foregoing factors, any other\nfactors discussed in this press release and the other risks and uncertainties\ndescribed in the Registration Statement on Form F-4 and the amendments\nthereto, which was initially filed by Tactical with the SEC on October 29,\n2024. Tactical cautions you against placing undue reliance on forward-looking\nstatements, which reflect current beliefs and are based on information\ncurrently available as of the date a forward-looking statement is made.\nForward-looking statements set forth in this press release speak only as of\nthe date of this press release. Tactical does not undertake any obligation to\nrevise forward-looking statements to reflect future events, changes in\ncircumstances, or changes in beliefs. In the event that any forward-looking\nstatement is updated, no inference should be made that Tactical will make\nadditional updates with respect to that statement, related matters, or any\nother forward-looking statements.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260921855187/en/\n(https://www.businesswire.com/news/home/20260921855187/en/)\n\nInvestor Relations: \n\n(778) 588-5483\n\ninvestors@tacticalresources.com \n(mailto:investors@tacticalresources.com) \n\n\nMedia: \n\n(646) 277-1200\n\nmedia@tacticalresources.com (mailto:media@tacticalresources.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw5tHN5ga-20260922","title":"Tactical Resources Announces Plans to Advance the Peak Project, Texas, USA","author":"Business Wire","ticker":"TREO","created":"2026-09-22T12:30:00.621Z","tickers":["TREO"],"exchange":"NASDAQ","article_body":"Tactical Resources Announces Plans to Advance the Peak Project, Texas, USA\n\nCompany Sets Out a Next-Phase Program Spanning Process Work, Permitting\nRoadmaps and Downstream Partnerships, Following Independent Testing That\nReturned TREE+Y Extraction Rates of up to 96.1%\n\nTactical Resources Corp.\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftacticalresources.com%2F&esheet=54608324&newsitemid=20260921855187&lan=en-US&anchor=Tactical+Resources+Corp.&index=1&md5=80f82dd9c1356d2b05c62212ad5499ab)\n(Nasdaq: TREO) (“Tactical” or the “Company”), a U.S.-focused rare\nearth elements company, today provided an update on its initial plans to\nadvance its Peak Project in Hudspeth County, Texas following its Nasdaq\nlisting.\n\nPeak Project Core Fundamentals\n\nIndependent testing. Work to date has been supported by APEX Geoscience,\nKemetco Research, Forte Dynamics and the University of Texas at Austin.\n\nHeavy rare earth profile. Analytical work showed heavy rare earth elements\nplus yttrium averaging 2.09 times the light rare earth elements.\n\nMaterial already mined. Two decades of railway ballast crushing at the Sierra\nBlanca Quarry produced pre-crushed fines materials that are stockpiled on\nsurface. The Company’s 2022 technical report described the material as\nalready mined, crushed, conveyed and stockpiled.\n\nSecured feedstock position. The pre-crushed fines stockpiled material is\naccessible to Tactical under a 2026 purchase and sale agreement, together with\nan option over the quarry operation itself.\n\nRanjeet Sundher, Chief Executive Officer of Tactical, said, “Peak is a very\nspecial project in this sector because the potential feedstock material is\nalready out of the ground. Two decades of quarry operations produced it, and\nit is sitting on surface in West Texas. Our technical work has concentrated on\nwhether that material can be processed, and on the heavy rare earth profile it\ncarries, which is where the United States is most exposed. With the Nasdaq\nlisting complete, we are moving the project into its next phase.”\n\nPeak’s Rare Earth Momentum\n\nWork Completed to Date\n\nSince acquiring its interest in the Peak Project, Tactical has advanced work\nacross field sampling, independent assaying, quality assurance and quality\ncontrol, mineralogical studies, drone surveys, scoping metallurgical testing,\nsample characterization, bench-scale leach testing, vat-leach testing,\npermeability testing and project planning. This work has established a\ntechnical base for the next work program, which includes exploration and an\nassessment of mineral resources.\n\nIndependent Geological Foundation\n\nTactical’s 2021 program collected samples from the active and historical\nquarry areas. The samples were analyzed by an independent accredited\nlaboratory, reviewed by independent Qualified Persons, who found that the data\nwere suitable for the report and potential future mineral resource modelling.\n\nIn September 2022, Tactical filed the initial NI 43-101 / SK-1300 technical\nreport for Peak. Prepared by APEX Geoscience Ltd. and Kemetco Research Inc.,\nthe report summarized the Company’s 2021 and 2022 exploration and\nmetallurgical work and set out recommendations for a two-phase work program.\n\nHeavy Rare Earth Element and Mineralogical Profile\n\nTactical’s analytical dataset (n=40 samples) showed that heavy rare earth\nelements plus yttrium (“HREE+Y”) averaged 2.9 times the light rare earth\nelements (“LREE”). Additionally, independent samples collected by the\nQualified Person during a site inspection (n=8 samples) returned a comparable\nprofile and validated the HREE mineralization and other elements. The material\nalso showed enrichment in lithium, niobium, rubidium, yttrium and zirconium.\n\nMineralogical work at the University of Texas at Austin identified accessory\nminerals including cassiterite, columbite, yttrofluorite, yttrocerite, thorite\nand zircon. Two drone surveys completed by Texas registered land surveyors\nmapped the active pre-crushed fines stockpile.\n\nMetallurgical Results\n\nInitial metallurgical test work conducted by Kemetco assessed direct-leach\namenability and maximum extraction potential across four leach conditions.\nResults from all four are reported below. Extraction response varied widely by\nreagent and test condition, from less than 25.3 percent to 96.1 percent.\n\nPreliminary total rare earth elements plus yttrium (“TREE+Y”) extraction\nrates were as follows:\n\n\n * Ambient-temperature hydrochloric acid bottle-roll: less than 25.3 percent\n\n * Ambient-temperature sulfuric acid bottle-roll: 88 percent to 93 percent\n\n * Heated sulfuric acid agitated-tank: 89 percent to 90 percent\n\n * Heated hydrochloric acid agitated-tank: 95.6 percent to 96.1 percent\n\nThe work also identified lithium as a potential by-product for further study.\nHeated hydrochloric acid agitated-tank tests returned lithium extraction\nresults of 66.2 percent to 87.6 percent, while acid-bake and water-leach tests\nreturned 90 percent to 96 percent lithium extraction.\n\nThese were scoping-scale results from composite samples. They do not establish\ncommercial-scale recovery. Further work is required on material variability,\nreagent consumption, impurity removal, leach-solution processing, production\nof saleable products, water balance, and by-product and waste handling.\n\nPhase 1 Metallurgical Work Program\n\nIn May 2024, Tactical reported that sample characterization, bench-scale leach\ntesting, vat-leach testing and permeability testing had been completed, with\ndata analysis and reporting in progress. Currently, column-leach testing\nresults and internal desktop benchmarking and scoping studies are ongoing.\n\nThe programs were designed to build an initial geometallurgical database,\nassess leaching at fine and coarse particle sizes, evaluate hydraulic\nconductivity of potential feed blends and identify project value drivers.\nTactical also engaged Forte Dynamics Inc. to review available data, conduct a\ngap analysis and develop a roadmap toward a preliminary economic assessment.\n\nThe 2022 technical report recommended future sonic drilling, geophysical\nsurveys, core sampling and bench- and column-scale metallurgical testing,\nfollowed, if warranted, by advanced metallurgy, demonstration plant planning,\npermitting and environmental work, community engagement and technical\nreporting.\n\nNext Phase of Technical Work\n\nBuilding on the work completed to date and pending the receipt and review of\nthe results from the Phase-1 Metallurgical Work Program, Tactical is starting\nto pre-plan the next phase of work at the Peak Project. Key areas of focus are\nintended to include:\n\n\n * Finalizing Phase-1 work program results\n\n * Advancing process development\n\n * Developing permitting and environmental roadmaps\n\n * Growing downstream strategic partnerships\n\n * Establishing engineering workflows\n\n * Expanding exploration and geological studies\n\n * Updating Technical Reports\n\nThe company’s immediate efforts are aimed at accelerating project growth and\ndevelopment activities in support of future fast-tracked production decisions.\n\nProject Background\n\nPeak is located within the active Sierra Blanca Quarry, approximately 90 miles\nsoutheast of El Paso. The project focuses on rare earth-enriched pre-crushed\nfines stockpiles generated by quarry operations. The Company’s 2022 NI\n43-101 / SK-1300 technical report described the material as already mined,\ncrushed, conveyed and stockpiled, and identified road access, a rail spur,\npower and space for project work at the quarry.\n\nSecured Feedstock Position\n\nIn March 2026, Tactical entered into a Purchase and Sale Agreement with Sierra\nBlanca Quarry, LLC covering approximately four million tons of pre-crushed\nfines stockpiled material generated by the ballast crushing plant, rights to\nadditional stockpiled fines materials produced thereafter, and an exclusive\noption to acquire 100 percent of the membership interests of Sierra Blanca\nQuarry, LLC through a blend of cash and stock. The agreement has an initial\nterm expiring July 31, 2036. In April 2026, the Company entered into an Asset\nPurchase Agreement converting approximately 1.5 million tons of that fines\nmaterials access into secured ownership, the first tranche within a staged\nacquisition strategy. The agreements remain subject to their respective terms\nand conditions.\n\nNo mineral resources or mineral reserves have been estimated for the\npre-crushed fines stockpiled material. The tonnage figures above are derived\nfrom the Company’s commercial agreements rather than from an estimate of\nmineral resources or mineral reserves.\n\nThe Company’s common shares began trading on the Nasdaq Capital Market under\nthe symbol “TREO” on August 20, 2026. The listing provides access to U.S.\ncapital markets as Tactical continues technical, engineering and permitting\nwork at Peak.\n\nTechnical Disclosure\n\nThe scientific and technical information in this release is based on the\nCompany’s NI 43-101 technical / SK-1300 report with an effective date of\nSeptember 15, 2022, and prior Company disclosures. The Peak Project remains an\nearly-stage project, and Tactical has not completed mineral resource\nestimation work.\n\nRoy Eccles P. Geol. of APEX Geoscience Ltd., an independent “qualified\nperson” as defined by National Instrument 43-101 – Standards of Disclosure\nfor Mineral Projects and is independent of the company, has reviewed and\napproved the geologic scientific and technical information in this press\nrelease as they relate to the geological sections of the technical report he\nis responsible for.\n\nNorman Chow M.A.Sc., P. Eng. President of Kemetco Research Inc., an\nindependent “qualified person” as defined by National Instrument 43-101\n– Standards of Disclosure for Mineral Projects and is independent of the\nCompany, has reviewed and approved the metallurgical scientific and technical\ninformation in this press release as they relate to the sections of technical\nreport he is responsible for.\n\nAbout Tactical Resources\n\nTactical Resources is a natural resources company focused on rare earth\nelements critical to advanced technologies, including semiconductors, electric\nvehicles, robotics, aerospace systems, and national defense applications. The\nCompany is advancing the Peak Project in Hudspeth County, Texas, as part of\nits strategy to help build a secure domestic supply chain, reduce reliance on\nforeign-controlled sources and strengthen North American critical mineral\nsecurity.\n\nTactical Resources is also pursuing innovative metallurgical processing and\nseparation technologies designed to improve the economics, scalability, and\nsustainability of rare earth production. Through this integrated approach, the\nCompany aims to become a key participant in the rapidly growing U.S. critical\nminerals ecosystem.\n\nFor additional information, please visit www.tacticalresources.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.tacticalresources.com&esheet=54608324&newsitemid=20260921855187&lan=en-US&anchor=www.tacticalresources.com&index=2&md5=c2cf11e455f4153a41968d55c96ff171)\n.\n\nForward-Looking Statements\n\nCertain statements included in this press release are not historical facts but\nare forward-looking statements for purposes of the safe harbor provisions\nunder the United States Private Securities Litigation Reform Act of 1995. All\nstatements other than statements of historical facts contained in this press\nrelease are forward-looking statements. Any statements that refer to\nprojections, forecasts or other characterizations of future events or\ncircumstances, including any underlying assumptions, are also forward-looking\nstatements. In some cases, you can identify forward-looking statements by\nwords such as “estimate,” “plan,” “project,” “forecast,”\n“intend,” “expect,” “anticipate,” “believe,” “seek,”\n“strategy,” “future,” “opportunity,” “may,” “target,”\n“should,” “will,” “would,” “will be,” “will continue,”\n“will likely result,” “preliminary,” or similar expressions that\npredict or indicate future events or trends or that are not statements of\nhistorical matters, but the absence of these words does not mean that a\nstatement is not forward-looking. Forward-looking statements include, without\nlimitation, Tactical’s or its management team’s expectations concerning\nthe outlook for Tactical’s business, productivity, plans, and goals for\nfuture operational improvements and capital investments, operational\nperformance, future market conditions, or economic performance and\ndevelopments in the capital and credit markets and expected future financial\nperformance, including expected net proceeds, expected additional funding, the\nsupport of key stakeholders in the U.S. government, growth prospects and\noutlook of Tactical’s operations, individually or in the aggregate,\nincluding the achievement of project milestones, commencement and completion\nof commercial operations of certain of Tactical’s projects, as well as any\ninformation concerning possible or assumed future results of operations of\nTactical. Forward-looking statements also include statements regarding the\nexpected benefits of the Business Combination. The forward-looking statements\nare based on the current expectations of the management team of Tactical, and\nare inherently subject to uncertainties and changes in circumstance and their\npotential effects. There can be no assurance that future developments will be\nthose that have been anticipated. These forward-looking statements involve a\nnumber of risks, uncertainties or other assumptions that may cause actual\nresults or performance to be materially different from those expressed or\nimplied by these forward-looking statements. These risks and uncertainties\ninclude, but are not limited to, (i) market risks; (ii) the outcome of any\nlegal proceedings that may be instituted against Tactical or Plum related to\nthe Business Combination; (iii) failure to realize the anticipated benefits of\nthe Business Combination; (iv) the risk that the price of Tactical’s\nsecurities may be volatile due to a variety of factors, including changes in\nthe highly competitive industries in which Tactical plans to operate,\nvariations in performance across competitors, changes in laws, regulations,\ntechnologies, natural disasters or health epidemics/pandemics, national\nsecurity tensions, and macro-economic and social environments affecting its\nbusiness; (v) the inability to implement business plans, forecasts, and other\nexpectations, identify and realize additional opportunities, and manage its\ngrowth and expanding operations; (vi) the risk that Tactical may not be able\nto successfully develop its mining projects, and/or its expansion plan; (vii)\nthe risk that Tactical will be unable to raise additional capital to execute\nits business plan, which may not be available on acceptable terms or at all;\n(viii) political and social risks of operating in the U.S. and other\ncountries; and (ix) the operational hazards and risks that Tactical faces. The\nforegoing list is not exhaustive, and there may be additional risks that\nTactical presently does not know or that Tactical currently believes are\nimmaterial. You should carefully consider the foregoing factors, any other\nfactors discussed in this press release and the other risks and uncertainties\ndescribed in the Registration Statement on Form F-4 and the amendments\nthereto, which was initially filed by Tactical with the SEC on October 29,\n2024. Tactical cautions you against placing undue reliance on forward-looking\nstatements, which reflect current beliefs and are based on information\ncurrently available as of the date a forward-looking statement is made.\nForward-looking statements set forth in this press release speak only as of\nthe date of this press release. Tactical does not undertake any obligation to\nrevise forward-looking statements to reflect future events, changes in\ncircumstances, or changes in beliefs. In the event that any forward-looking\nstatement is updated, no inference should be made that Tactical will make\nadditional updates with respect to that statement, related matters, or any\nother forward-looking statements.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260921855187/en/\n(https://www.businesswire.com/news/home/20260921855187/en/)\n\nInvestor Relations: \n\n(778) 588-5483\n\ninvestors@tacticalresources.com \n(mailto:investors@tacticalresources.com) \n\n\nMedia: \n\n(646) 277-1200\n\nmedia@tacticalresources.com (mailto:media@tacticalresources.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-22T12:30:00.770470443Z","server_sent_at_ms":1790080200770},"received_at":"2026-09-22T12:30:00.828Z","source_url":"https://www.businesswire.com/news/home/20260921855187/en/"},"analysis":{"id":"138333","press_release_id":"149650","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["No mineral resources or reserves estimated; tonnage figures derive from commercial agreements, not resource estimates","Metallurgical results are scoping-scale on composite samples and do not establish commercial-scale recovery","Extraction results varied widely (less than 25.3% to 96.1%) depending on reagent and test condition","Option to acquire 100% of Sierra Blanca Quarry to be paid in a blend of cash and stock — potential future dilution","Forward-looking statements flag reliance on expected additional funding that may not be available on acceptable terms","HREE+Y-to-LREE ratio stated inconsistently within the release (2.09 times in summary vs 2.9 times in the n=40 dataset)"],"eventType":"operations_update","narrative":"Tactical Resources laid out its next-phase program for the Peak rare earth project in Hudspeth County, Texas, spanning process development, permitting roadmaps and downstream partnerships following its August 20, 2026 Nasdaq listing under TREO.\n\nIndependent metallurgical testing returned TREE+Y extraction rates up to 96.1% in heated hydrochloric acid agitated-tank tests, with ambient-temperature sulfuric acid bottle-roll runs at 88-93%; lithium was identified as a potential by-product with extraction of 66.2-96% across test conditions.\n\nThe feedstock is pre-crushed fines already stockpiled at the Sierra Blanca Quarry, secured under a March 2026 purchase and sale agreement covering roughly four million tons, with about 1.5 million tons converted to secured ownership in April 2026 and an option to acquire the quarry outright via cash and stock.\n\nManagement cautions the results are scoping-scale and do not establish commercial recovery, and no mineral resources or reserves have been estimated for the stockpiled material.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Early-stage US rare earth story with eye-catching 96% headline extraction but no resource estimate — the real catalysts are the PEA and funding path."},"keyFigures":{"customDimensions":{"project_location":"Sierra Blanca Quarry, approximately 90 miles southeast of El Paso, Hudspeth County, Texas","psa_initial_term":"expires July 31, 2036","nasdaq_listing_date":"August 20, 2026","treey_extraction_max":"96.1%","treey_extraction_range":"less than 25.3% to 96.1% across four leach conditions","stockpiled_fines_under_psa":"approximately four million tons","hree_y_to_lree_ratio_summary":"2.09 times","hree_y_to_lree_ratio_dataset_n40":"2.9 times","lithium_extraction_heated_hcl_tank":"66.2% to 87.6%","stockpiled_fines_secured_ownership":"approximately 1.5 million tons","lithium_extraction_acid_bake_water_leach":"90% to 96%"}},"quotedText":"Peak is a very special project in this sector because the potential feedstock material is already out of the ground.","namedEntities":{"people":[{"name":"Ranjeet Sundher","role":"Chief Executive Officer of Tactical Resources"},{"name":"Roy Eccles","role":"P. Geol., APEX Geoscience Ltd., independent Qualified Person (geology)"},{"name":"Norman Chow","role":"President of Kemetco Research Inc., independent Qualified Person (metallurgy)"}],"products":["Peak Project","pre-crushed fines stockpiled material"],"companies":[{"name":"Tactical Resources Corp.","ticker":"TREO","relationship":"filer"},{"name":"Sierra Blanca Quarry, LLC","relationship":"feedstock counterparty; option to acquire 100% of membership interests"},{"name":"APEX Geoscience Ltd.","relationship":"geological consultant / qualified person"},{"name":"Kemetco Research Inc.","relationship":"metallurgical testing laboratory"},{"name":"Forte Dynamics Inc.","relationship":"consultant engaged for gap analysis and PEA roadmap"},{"name":"University of Texas at Austin","relationship":"mineralogical research partner"},{"name":"Plum","relationship":"SPAC counterparty referenced in Business Combination forward-looking statements"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"An early-stage project development update: promising scoping-scale metallurgical results (up to 96.1% TREE+Y extraction) plus a recap of previously signed feedstock agreements. No new financing, resource estimate, earnings, or newly closed transaction is disclosed, so it is meaningful news flow but not immediately market-moving."},"tickerRelevance":{"others":[],"primary":"TREO"},"globalImportance":20,"audienceRelevance":32,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap, recently listed on Nasdaq","eventGravity":"scoping-scale metallurgical update with no new financing or resource estimate","sectorWeight":"critical minerals / rare earths theme carries elevated retail and policy interest","thematicBoost":"US domestic rare earth supply chain narrative","issuerAuthored":true,"retailFavoriteBoost":"modest — rare earth names attract retail attention but TREO is newly listed and thinly established"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Tactical Resources laid out its next-phase program for the Peak rare earth project in Hudspeth County, Texas, spanning process development, permitting roadmaps and downstream partnerships following its August 20, 2026 Nasdaq listing under TREO.\n\nIndependent metallurgical testing returned TREE+Y extraction rates up to 96.1% in heated hydrochloric acid agitated-tank tests, with ambient-temperature sulfuric acid bottle-roll runs at 88-93%; lithium was identified as a potential by-product with extraction of 66.2-96% across test conditions.\n\nThe feedstock is pre-crushed fines already stockpiled at the Sierra Blanca Quarry, secured under a March 2026 purchase and sale agreement covering roughly four million tons, with about 1.5 million tons converted to secured ownership in April 2026 and an option to acquire the quarry outright via cash and stock.\n\nManagement cautions the results are scoping-scale and do not establish commercial recovery, and no mineral resources or reserves have been estimated for the stockpiled material.","key_figures":{"customDimensions":{"project_location":"Sierra Blanca Quarry, approximately 90 miles southeast of El Paso, Hudspeth County, Texas","psa_initial_term":"expires July 31, 2036","nasdaq_listing_date":"August 20, 2026","treey_extraction_max":"96.1%","treey_extraction_range":"less than 25.3% to 96.1% across four leach conditions","stockpiled_fines_under_psa":"approximately four million tons","hree_y_to_lree_ratio_summary":"2.09 times","hree_y_to_lree_ratio_dataset_n40":"2.9 times","lithium_extraction_heated_hcl_tank":"66.2% to 87.6%","stockpiled_fines_secured_ownership":"approximately 1.5 million tons","lithium_extraction_acid_bake_water_leach":"90% to 96%"}},"named_entities":{"people":[{"name":"Ranjeet Sundher","role":"Chief Executive Officer of Tactical Resources"},{"name":"Roy Eccles","role":"P. Geol., APEX Geoscience Ltd., independent Qualified Person (geology)"},{"name":"Norman Chow","role":"President of Kemetco Research Inc., independent Qualified Person (metallurgy)"}],"products":["Peak Project","pre-crushed fines stockpiled material"],"companies":[{"name":"Tactical Resources Corp.","ticker":"TREO","relationship":"filer"},{"name":"Sierra Blanca Quarry, LLC","relationship":"feedstock counterparty; option to acquire 100% of membership interests"},{"name":"APEX Geoscience Ltd.","relationship":"geological consultant / qualified person"},{"name":"Kemetco Research Inc.","relationship":"metallurgical testing laboratory"},{"name":"Forte Dynamics Inc.","relationship":"consultant engaged for gap analysis and PEA roadmap"},{"name":"University of Texas at Austin","relationship":"mineralogical research partner"},{"name":"Plum","relationship":"SPAC counterparty referenced in Business Combination forward-looking statements"}],"dollarAmounts":[]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-22T17:01:56.655Z","global_importance":20,"audience_relevance":32,"importance_components":{"tickerTier":"small-cap, recently listed on Nasdaq","eventGravity":"scoping-scale metallurgical update with no new financing or resource estimate","sectorWeight":"critical minerals / rare earths theme carries elevated retail and policy interest","thematicBoost":"US domestic rare earth supply chain narrative","issuerAuthored":true,"retailFavoriteBoost":"modest — rare earth names attract retail attention but TREO is newly listed and thinly established"}},"durationMs":172624,"modelName":"glm-5.3-flash"}}