NFM: Binding Option to Acquire 90% of Advanced Pomme REE

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Stock MTM Critical Metals Ltd (MTM.ASX)
Release Time 12 Feb 2026, 9:52 a.m.
Price Sensitive Yes
 NFM: Binding Option to Acquire 90% of Advanced Pomme REE
Key Points
  • Binding option and staged earn-in agreement to acquire 90% of the Pomme REE-Nb Project in Quebec
  • Strategic partnership with Metallium to leverage its proprietary Flash Joule Heating technology
  • Significant exploration upside with high-grade REE mineralization confirmed over a large area
Full Summary

New Frontier Minerals Limited (NFM) has entered into a binding option and earn-in agreement to acquire a 90% interest in the Pomme REE-Nb Project located in Quebec, Canada. The Pomme Project is a large carbonatite-hosted Rare Earth Element (REE) and Niobium (Nb) project, with historical drilling confirming the presence of a significant mineralized system exceeding 2 km². The project benefits from easy access via logging roads, proximity to hydroelectric power, and existing mining infrastructure and services. Under the agreement, NFM will have the exclusive right to acquire a 90% interest in the Pomme Project through a staged earn-in process. The initial consideration includes A$100,000 cash and A$200,000 in NFM shares, with minimum annual expenditure of A$100,000 during the 24-month option period. The acquisition deepens NFM's vertical integration with its existing partner Metallium (MTM), adding a highly complementary Canadian asset. The partnership will leverage MTM's proprietary Flash Joule Heating (FJH) technology, which has demonstrated potential to produce high-grade, Dy/Tb-rich REE concentrates without conventional flotation or acid leaching. Initial work programs will focus on conventional metallurgical test work and the application of FJH technology to existing drill core.The Pomme Project presents significant exploration upside, with high-grade REE intersections already identified within the large mineralized system, while large portions of the prospective area remain untested. NFM plans to integrate geological data, conduct follow-up drilling, and target continuous higher-grade zones to expand the scale and grade of mineralization.

Outlook

The partnership with Metallium and the acquisition of the Pomme REE-Nb Project in Quebec are expected to significantly advance NFM's critical minerals strategy, providing access to a large, high-grade REE system and a pathway to leverage innovative processing technologies to enhance project economics.