Canamera Energy Metals Corp. (CSE: EMET) has announced that Ontario's Ministry of Energy and Mines has issued a three-year Exploration Permit for its Schryburt Lake Rare Earth Element-Niobium Project in northwestern Ontario. The company has simultaneously signed a Community Benefit Agreement with Nibinamik First Nation, on whose traditional homelands the project sits. With these milestones secured, Canamera is mobilising for its first-ever diamond drill program at the site, with drilling scheduled to begin in mid-October 2026.

Key Points

  • Canamera Energy Metals Corp. (CSE: EMET | OTCQB: EMETF | FSE: 4LF0)
  • Ontario issued a three-year Exploration Permit covering 36 claims and authorising a 19-hole diamond drilling program, mechanised stripping, trenching, and geophysical surveys
  • Initial drill phase: approximately 1,500 metres across three holes targeting Blue Jay, Starling, and Blackbird, with a budget of approximately CAD $1.7 million; mobilisation begins October 16, 2026
  • Investors will be watching for drill results and progress toward the CAD $1.5 million First Option expenditure condition under the JV Option Agreement

Ontario Exploration Permit Opens Schryburt Lake for First Diamond Drilling in Nearly 50 Years

The Exploration Permit, effective from September 10, 2026 to September 9, 2029, was issued to Dixon Metals (Ontario) Corporation, a wholly owned subsidiary of Bindi Metals Limited (ASX: BIM) and registered holder of the project claims, with Canamera's Vice President Exploration, Warren Robb, P.Geo., named as Qualified Supervisor. The permit authorises up to 19 drill sites across 36 claims at the core of the Schryburt Lake Carbonatite Complex. The announcement notes this will be the first diamond drilling ever conducted on the project, and the first drilling of any kind since six shallow reconnaissance holes totalling 293 metres were completed in 1977.

Nibinamik First Nation Exploration Agreement Establishes Community Participation Framework

Canamera's Community Benefit Agreement with Nibinamik First Nation — an Anishinaabe community and Treaty No. 9 signatory located at Summer Beaver, Ontario — establishes a framework for economic benefits, ongoing communication, collaboration, and community participation as exploration advances. The release states the agreement reflects a shared commitment to respect Nibinamik's Aboriginal and treaty rights, stewardship responsibilities, and areas of cultural significance. The company noted the agreement is the product of months of dialogue with Nibinamik's leadership and community.

Three-Hole Initial Phase Targets Deep Magnetic Anomalies Beneath the Carbonatite Complex

The initial drill program will comprise three NQ diamond drill holes of approximately 500 metres each, totalling approximately 1,500 metres, testing the Blue Jay, Starling, and Blackbird targets. These targets were defined using historical data, three-dimensional magnetic inversion modelling, and radiometric and surface sampling results, representing the first drill tests of deep pipe-like magnetic anomalies identified beneath the complex. The program will be fully helicopter-supported, with mobilisation scheduled to begin October 16, 2026, and a budget of approximately CAD $1.7 million.

JV Earn-In Progress and Project Scale Put Schryburt Lake on Investors' Radar

Expenditures under this program contribute toward the CAD $1.5 million First Option expenditure condition under Canamera's JV Option Agreement with Dixon Metals (Ontario) Corporation and Bindi Metals Limited, through which the company may earn an initial 51% interest in the project, with a total earn-in of up to 90% requiring aggregate expenditures of CAD $9.0 million. The Schryburt Lake project covers approximately 4,947 hectares. Historical exploration has reported niobium grades of up to 1.82% Nb₂O₅ and rare earth values of up to 5.65% REO, though historical results have not been independently verified by the company.