VANCOUVER, BC — February 17, 2026 — Leads & Copy — Temas Resources Corp. (ASX:TIO)(CSE:TMAS)(OTCQB:TMASF)(FSE:26P0) has announced a Letter of Intent with 1542642 B.C. Ltd. to test Temas’ patented Regenerative Chloride Leach (RCL) processing technology on ore from the Revel Ridge polymetallic gold-silver project (3.0Moz @ 6.4g/t AuEq).
The developer intends to fully fund bench-scale and pilot scale test work, delivering third party validation of RCL technology on a refractory gold system. The LOI sets out a staged testwork and commercialization pathway intended to validate RCL on a refractory gold system and progress to a future Joint Venture for the deployment and commercialization of RCL in Western North America, including refractory gold and tailings opportunities.
Temas’ 100% owned RCL technology platform comprises 11 granted process patents, covering the extraction of multiple metals, including but not limited to Gold, Titanium, Nickel and Rare Earths.
The LOI is broken into 3 distinct phases with technical and commercial milestones: bench-scale testing, pilot-scale testing, and potential progression toward a demonstration-scale processing facility, subject to results and agreement between the parties. Progression to Phase 2 will be forming a Joint Venture between Temas and the Developer to deploy the RCL process commercially in Western North America and specifically on refractory gold and tailings projects.
The Developer’s predecessors contemplated a Pressure Oxidization processing route for the deposit. Temas believes RCL to potentially complement, or subject to testwork outcomes, may have potential to replace elements of conventional routes by improving recoveries of the gold and silver, and enabling recovery of additional co-product while reducing the quantity and reactivity of tailings.
While initial testing will include evaluation of enhanced recovery of secondary metals, such as silver, zinc and lead, the program will take a holistic assessment of RCL as the potential primary processing option, subject to results.
Terms of the Letter of Intent:
Phase 1 – Technical & Business Development Work
The Developer’s Commitments at its sole cost and before the end of summer 2026:
Bench-scale testing of the RCL Technology on Revel Ridge material.
Pilot-scale testing following successful bench scale outcomes.
Temas Business Development: Business development activities undertaken by Temas in a defined region of Western North America during Phase 1 will, if the Parties proceed to Phase 2, be attributable to the JV on a cost recovery basis from the election point forward.
Phase 2 – Formation and Funding of Joint Venture
Upon completion of the Phase 1 program and upon the receipt of results, Temas and the Developer shall enter further discussions to consider establishing the formation of a Joint-Venture & Funding package. The proposed Phase 2 program is non-binding at subject to both parties securing definitive terms of engagement. The LOI outlines:
Formation of an 80/20 Joint (in favor of Temas), terms of which are to be negotiated by both parties in good faith.
The JV’s purpose to fund and advance the RCL technology platform to commercial status, including testing on third-party mineral projects, deposits and tailings and pursuing commercial deployment primarily focused on refractory ores and complex feedstocks.
Indicative Terms (the Developer): Invest CAD$2,000,000 into the JV upon election to proceed and appoint two members to the JV management committee.
Indicative Terms (Temas): Exclusively deploy the RCL platform in Western North America through the JV, appoint 3 members to the JV management committee and operate the JV.
Phase 3 – Deployment & Project Development
Subject to JV formation and funding, the JV would seek to: Deploy the RCL technology directly on projects within Western North America; Acquire assets suitable for technology deployment; and establish special purpose vehicles (SPVs) for project development or deployment of the Technology or related assets.
The parties agree to deal exclusively with each other and negotiate in good faith towards a definitive agreement.
Mr. Tim Fernback, Temas Chief Executive Officer commented that the multi-phase test program is an important step in demonstrating the commercial potential of their patented RCL technology platform. He added that Revel Ridge provides a real world setting to validate ability and improve recoveries and reduce environmental liabilities, while also serving as a reference point for wider adoption.
Fernback noted that subject to successful results, the LOI provides a pathway to a Temas-controlled commercialization vehicle focused on Western North America, where there is growing demand for solutions that improve recoveries, reduce tailings impacts and support permitting outcomes.
Temas continues confidential discussions with multiple third parties regarding additional RCL trials on complex ore and tailings, supporting a scalable commercialization strategy.
Temas Resources Corp. is a technology-driven critical minerals company advancing a dual-business model built around proprietary processing innovation and strategic mineral ownership.
The Company’s patented Regenerative Chloride Leach (RCL) technology platform delivers operational cost reductions while reducing energy use and environmental impact.
Temas’ RCL process is the foundation of its technology licensing and partnership business, enabling global mining and materials companies to adopt sustainable, high-margin metal extraction methods across a range of critical minerals including titanium, vanadium, nickel, and rare earth elements.
Temas also owns 100% of two advanced titanium-vanadium-iron projects in Québec, Canada – La Blache and Lac Brûlé – which are strategically positioned to feed directly into the Company’s proprietary processing platform.
The RCL platform technology involves the hydrometallurgical mineral extraction of concentrates, whole ores, slags and tailings to enhance recovery of critical metals, battery metals, Platinum Group Minerals, precious and base metals and Rare Earth Element recovery at materially higher through-yields and lower capital and operating costs than many of the conventional approaches that are in use traditionally. This novel RCL technology is ideally suited to treat increasingly complex ores in an environmentally sensitive manner.
The Company has completed a pilot test of approximately 1 ton of material from its La Blache TiO2 mineral property yielding 88 kgs of a 99.8% pure TiO2 commercial grade product.
A cost reduction of over 65% is validated for TiO2 processing using the RCL platform technology.
The closed-loop design and high reagent recycling rates are core to the RCL platform. Over 69% lower operating costs compared to conventional processing due to its core features operating at near ambient temperatures.
The RCL platform is engineered for high recovery and purity of all target metals. Management believes that this metallurgical process can be applied to many complex resource deposits worldwide, enhancing both extraction and recovery for the operator.
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Source: Temas Resources Corp.
