Advanced Geophysics at Pursuit Minerals Ltd Unlocks Massive Lithium Target

Advanced CSAMT Reprocessing Delivers Major Breakthrough at Rio Grande Sur

Pursuit Minerals has announced a significant exploration breakthrough at its Mito tenement within the Rio Grande Sur Lithium Project in Argentina. Advanced geophysics at Pursuit Minerals Ltd has dramatically improved subsurface resolution through reprocessing of Controlled Source Audio Magnetotellurics (CSAMT) data, extending reliable interpretation depth from approximately 250 metres to 1.1 kilometres – a 4.4x increase that has unlocked a massive new exploration target.

The reprocessed data has defined a large, continuous conductive zone in the eastern sector, interpreted as a priority brine target extending from 250 metres to over 1 kilometre depth. Furthermore, this discovery represents a material upgrade to the project's resource expansion potential, with three priority drillholes totalling approximately 3,200 metres now planned to test these high-confidence targets.

Geophysics Breakthrough Reveals Hidden Potential

Advanced geophysics at Pursuit Minerals Ltd has delivered what Managing Director Aaron Revelle describes as "a significant improvement in our understanding of the tenement and its potential to support resource growth." The enhanced dataset has refined the geological model and identified new zones of interest that were not previously resolved.

Key Technical Improvements:

• Depth penetration increased by approximately 850 metres (from 250m to 1.1km)
• Material improvement in subsurface resolution and imaging quality
• Strong geological continuity confirmed across multiple survey lines
• Clear structural boundaries supporting fluid concentration mechanisms

The reprocessed 3D model reveals a laterally continuous conductive domain in the eastern sector, represented by purple and red zones in the company's imaging. Moreover, this system demonstrates strong geological continuity across multiple survey lines, reinforcing confidence that it represents a coherent, basin-scale feature rather than an isolated anomaly.

"The CSAMT reprocessing of the data from Mito has delivered a significant improvement in our understanding of the tenement and its potential to support resource growth at Rio Grande Sur, particularly following the completion of our 5,000 tpa lithium carbonate PFS," said Aaron Revelle, Managing Director.

What is CSAMT and Why Does it Matter?

Controlled Source Audio Magnetotellurics (CSAMT) is an advanced geophysical technique that measures electrical resistivity in the subsurface by analysing how electromagnetic signals penetrate different geological formations.

For lithium brine exploration, CSAMT is crucial because:

• Low resistivity/high conductivity typically indicates fluid-bearing zones
• Brine-saturated sediments are highly conductive due to dissolved salts
• Dry or solid rock formations show higher resistivity
• Structural boundaries can be mapped to understand fluid flow patterns

This technique allows explorers to "see" underground without drilling, identifying priority targets before committing to expensive drilling programmes. In addition, advanced geophysics at Pursuit Minerals Ltd has essentially quadrupled the explorable volume beneath the tenement through the dramatic improvement in depth penetration at Mito.

Massive Scale Target Defined

The newly identified conductive system represents a substantial upgrade in exploration potential:

The system's scale and continuity position it as potentially the largest exploration target identified to date at Rio Grande Sur. Additionally, the presence of a well-defined structural boundary separating the conductive eastern zone from the higher-resistivity western sector provides compelling evidence for concentrated brine accumulation.

Strategic Drilling Programme Planned

Three priority drillholes have been designed to systematically test the most prospective portions of the conductive system:

Total drilling: approximately 3,200 metres

The programme will initially focus on DDH2, targeting the highest-confidence conductive zone. Drill crews are expected to mobilise in late April, with drilling to commence shortly thereafter.

Drilling Strategy and Execution

The strategic approach prioritises the most prospective zones identified through the reprocessed geophysical data. Each drillhole has been positioned to maximise the probability of intercepting high-grade brine zones whilst testing the lateral continuity of the conductive system.

Furthermore, the drilling programme will provide critical data for resource estimation and future development planning. The results will directly inform subsequent drilling phases and infrastructure planning decisions.

Timing Couldn't Be Better

This breakthrough comes at an optimal time in Rio Grande Sur's development trajectory. The project recently completed a 5,000 tpa lithium carbonate Pre-Feasibility Study, establishing the technical and economic foundation for initial development.

However, advanced geophysics at Pursuit Minerals Ltd and the Mito discovery now provides a clear pathway for future expansion beyond this initial production target.

Development Timeline:

• Late April 2026: Drill crew mobilisation commences
• Following Mito drilling: Production well installation at Isabel Segunda
• Continuous 30-day pumping test planned to refine operating parameters
• Resource classification upgrade from Indicated to Measured targeted

The discovery strengthens Rio Grande Sur's position as the market transitions from lithium surplus to deficit. Consequently, Pursuit is well-positioned to become a significant new source of lithium supply.

Investment Thesis: Scale Meets Opportunity

The Mito breakthrough reinforces several key investment themes through advanced geophysics at Pursuit Minerals Ltd:

Resource Expansion Potential

• 4.4x increase in explorable depth opens substantial new target volume
• Basin-scale system suggests potential for large-resource discovery
• High-confidence targets increase probability of drilling success

Project Development Synergies

• Existing 5,000 tpa PFS provides development blueprint
• Infrastructure framework already established for scale-up
• Evaporation pond relocation progressing for on-site pilot plant

Market Positioning

• Argentina's established lithium jurisdiction with proven operational track record
• Strategic location within proven lithium triangle
• Multiple development pathways from lithium carbonate to lithium chloride

Why Should Investors Monitor Pursuit Minerals?

Advanced geophysics at Pursuit Minerals Ltd and the CSAMT reprocessing breakthrough positions Pursuit as a compelling lithium development story with multiple value creation catalysts.

Near-Term Catalysts

• High-impact drilling programme commencing late April 2026
• Production well testing to advance development parameters
• Resource classification upgrades supporting project advancement

Strategic Advantages

The company benefits from a proven resource base with established PFS economics, providing a solid foundation for development. In addition, the expansion optionality through the Mito discovery offers significant upside potential beyond the initial development scope.

The integrated development approach from exploration through production positions Pursuit uniquely in the lithium sector. This comprehensive strategy reduces execution risk whilst maximising value creation opportunities.

Market Opportunity Context

The lithium market transition to deficit supports long-term pricing fundamentals, creating an attractive environment for new producers. The company's battery-grade product focus targets the highest-value applications within this growing market.

Furthermore, the scalable production platform supports multi-stage development, allowing the company to grow production capacity in response to market demand and resource expansion.

Looking Ahead: Technical Excellence Meets Commercial Reality

The combination of technical breakthrough, strategic timing, and proven development capability positions Pursuit as a standout opportunity in the rapidly evolving lithium sector. The Mito discovery has fundamentally expanded the project's scale potential whilst maintaining focus on near-term production objectives.

Pursuit Minerals has unlocked significant exploration upside at Rio Grande Sur through advanced geophysical reprocessing, defining a basin-scale target that could materially expand the project's resource base. With high-impact drilling commencing imminently and a proven development pathway already established, investors should closely monitor this emerging lithium producer as it advances toward production and resource expansion.

The strategic implications extend beyond immediate drilling success. The expanded exploration target provides multiple development scenarios and production scale options, enhancing the project's long-term value proposition in an increasingly supply-constrained lithium market.

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