THE SBH PROJECT

A Massive-Scale Critical Mineral & Rare Earth Element Asset in Alberta

CMAI holds a 100% interest in its 466.66 sq. km. SBH Property, an advanced-stage exploration project representing a highly strategic accumulation of critical metals and rare earth elements.

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SBH Exploration Targets + Property Expansion Potential

Note: Total Rare Earth Oxides = La₂O₃ + Ce₂O₃ + Pr₂O₃ + Nd₂O₃ + Sm₂O₃ + Eu₂O₃ + Gd₂O₃ + Tb₂O₃ + Dy₂O₃ + Ho₂O₃ + Er₂O₃ + Tm₂O₃ + Yb₂O₃ + Lu₂O₃ + Y₂O₃

In accordance with NI 43-101, the potential quantity and grade of the expansion potential of the Exploration Targets are conceptual in nature. There has been insufficient exploration to define a Mineral Resource as defined by NI 43-101 Standards of Disclosure for Mineral Projects, and it is uncertain if further exploration will result in the Exploration Targets being delineated as a Mineral Resource.

Located in a tier-one mining jurisdiction, the project benefits from established infrastructure and straightforward accessibility:

Massive Footprint : Consisting nine contiguous Alberta rock-hosted mineral permits totaling approximately 466.66 square kilometers (46,666 hectares).

The Region : Situated in Northeastern Alberta, adjacent to the prolific Athabasca oil sands region.

Proximity : Located approximately 120 km North of Fort McMurray, a major city served by daily commercial flights from major hubs like Edmonton, Calgary, and Toronto.

Direct Access : The property is directly accessible via winter roads, helicopters, and fixed-wing aircraft, utilizing an airstrip located directly on the northeastern portion of the property.

The polymetallic potential of the Upper Cretaceous black shale units at the property has been investigated and validated by multiple companies and agencies since the 1990s.

1993 – 1998 : Tintina Mines Ltd. first discovered the near-surface, metal-bearing black shales in 1995.

2007 – 2014 : DNI Metals Inc. completed significant rock sampling, drilling, leaching test work, and a historical Preliminary Economic Assessment (PEA) in 2014.

2023 – Present : Since acquiring the property, CMAI has rapidly advanced exploration through data compilation, LiDAR imagery interpretation, B-zone soil sampling, and a bulk sampling program for advanced metallurgical testing.

The Minerals: Applications on a Global Scale

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Property Sketches

PROPERTY SKETCHES

The SBH Project:

A Premier North American Asset

CMAI is advancing the SBH Project to develop

long-term domestic supplies of critical minerals and

rare earth elements (REEs).

Prime Regional Advantage
The property is located approximately 120 km north of Fort McMurray, Alberta, within the established Athabasca oil sands region, an area with significant infrastructure, workforce, and industrial capacity.

North American Significance
The SBH Project is considered one of the largest known accumulations of recoverable critical minerals and rare earth elements in North America, hosted within extensive regional black shale formations.

Extensive Geological Footprint
Mineralized Labiche, Second White Specks, and Shaftesbury formations occur across the western portion of the property. Their distribution is supported by historical diamond drilling, oil and gas well logs, and regional geological mapping.

Independent geological studies have identified several large conceptual exploration targets based on historical drilling, geological modelling, and geochemical data within mineralized black

shale horizons.

Lower Buckton Target
Estimated conceptual range of 2.3–3.5 billion tonnes of mineralized black shale.

Buckton South Target
Estimated conceptual range of 10.3–15.4 billion tonnes of mineralized black shale.

Asphalt Target
Estimated conceptual range of 6.9–10.3 billion tonnes of mineralized black shale.

Combined Exploration Target
These targets represent a conceptual exploration range of approximately 19.5–29.2 billion tonnes of mineralized black shale across the project area.

Expansion Potential
Additional conceptual expansion could increase the total estimated black shale tonnage across the project to approximately 34.5–52.2 billion tonnes.

CMAI Critical Minerals Americas Inc.

THE SBH PROJECT

A Massive-Scale Critical Mineral & Rare Earth Element Asset in Alberta

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Located in a tier-one mining jurisdiction, the project benefits from established infrastructure and straightforward accessibility:

The Minerals: Applications on a Global Scale

PROPERTY SKETCHES

CMAI
Critical Minerals Americas Inc.