Volta Metals Springer Deposit Now Ranks Among the Top 10 Largest Rare Earth Deposits in NA

Volta Metals Ltd. (CSE: VLTA | FSE: D0W) is a critical mineral exploration company focused on rare earths, gallium, lithium, cesium, and tantalum, with projects in Ontario, Canada. On February 23, 2026, the Company reported a major resource expansion at its Springer Rare Earth Element deposit near Sturgeon Falls, approximately one hour east of Sudbury, Ontario along the Trans-Canada Highway.“It's very exciting. It exceeded our expectations, to be honest,” Kerem Usenmez, President, CEO, and Director of Volta Metals Ltd., said in an interview with InvestorNews host Tracy Hughes.“What's exciting also is that it's still open and we are drilling. We're hitting more. So, I think it's going to get even bigger, but we're already in the Top 10 and getting better and better every day.”Hughes asked what “Top 10” meant in practical terms. “Basically, if I understand properly, is the Springer project in the ‘Top 10 Rare Earth Deposits in North America’? Is that correct?”“That is correct, yes,” Usenmez replied. “It got into a new scale. It really is incredible — 176 million tonnes of rare earth mineralization, on surface. It's very, very exciting.”The updated Mineral Resource Estimate, effective December 31, 2025, reports 56.6 million tonnes in the Indicated category at 0.70% TREO and 119.5 million tonnes in the Inferred category at 0.58% TREO. According to the Company, the deposit now ranks among the top 10 largest rare earth deposits in North America based on publicly available Indicated and Inferred mineral resource tonnage for North American rare earth projects listed in the S&P Global Market Intelligence database, 2025.The Company reported a 1,248% increase in Indicated Resources to 56.6Mt at 0.70% TREO, including a near-surface high-grade core of 11.5Mt at 1.10% TREO, and an 841% expansion in Inferred Resources to 119.5Mt at 0.58% TREO, including a near-surface high-grade core of 3Mt at 1.16% TREO. Additional contained rare earth oxides were added at an estimated discovery cost of C$0.02 per tonne of Indicated Resource.Hughes noted that the project ranks number seven and pointed to infrastructure as a key advantage. Usenmez agreed. “Fifty minutes away from Sudbury through the Trans-Canada Highway. We're just outside of Sturgeon Falls. Have two hydro power dams literally just outside of our claims, and one of them is powered by First Nations.“So this project will be powered not only with staff but literally the power because the power lines go through the property. We have all the supplies we need within 68 km, including Trans-Canada Highway and railway station.”According to the Company’s disclosure, the deposit is approximately 70 km east of Sudbury and 15 km north of Sturgeon Falls. It is accessible via Highway 64, with proximity to the Crystal Falls and Sturgeon Falls hydroelectric dams, hydroelectric power lines, a natural gas pipeline, and the Canadian National Railway line. A high-voltage transmission line runs through the project’s claims and is expected to source power from the Crystal Falls hydroelectric dam.On drilling results, Usenmez said, “Our initial drilling came back with — well, we first drilled twice as much as we anticipated, or planned for, because we were still in mineralization. It kept going, etc. So having holes, not once, more than once, from top to bottom mineralized, and at the end still high-grade mineralization — that's really what else can you hope for?“So that helped, and that showed us the shape is changing. It's getting bigger and it is still open. That's why we are drilling right now. But the intercepts we have are exceptional — rare earth mineralization, very high grade. In some cases, the premium magnets that you want — magnet minerals — but also the gallium. So very, very good results.”Hughes referenced the “core four” rare earth elements — praseodymium, neodymium, dysprosium and terbium — and asked about their significance.