Volta Metals Awarded Up to $500,000 from Ontario's Critical Minerals Innovation Fund

Toronto, Ontario--(Newsfile Corp. - June 11, 2026) - Volta Metals Ltd. (CSE: VLTA) (OTCQB: VOLMF) (FSE: D0W) ("Volta" or the "Company") is pleased to announce that the Ontario government has awarded funding of up to $500,000 under the Critical Minerals Innovation Fund ("CMIF") for work on the Company's Springer Rare Earth Element ("REE") and Gallium Project, located approximately 70 km east of Sudbury, Ontario, with direct access via the Trans-Canada Highway and Highway 64. The award will be applied towards metallurgical and mineral processing work aimed at enhancing recoveries of rare earth elements and gallium from mineralization at the Springer Deposit.

Figure 1. Stephen Lecce, Minister of Energy and Mines, with Volta's CEO, Kerem Usenmez, at the Critical Minerals for Defence Conference in Toronto.

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The $500,000 award represents the maximum CMIF grant per project, covering up to 50% of eligible project costs. The CMIF supports research, development, and commercialization of innovative technologies, techniques, and processes in Ontario's critical minerals sector, with priority areas including mineral processing, recovery, and battery supply chain innovation. This funding will enable Volta to advance metallurgical test work and flowsheet development designed to optimize recoveries of critical minerals essential to Ontario's growing battery and clean technology supply chains.

"Ontario is doubling down on its leadership in the critical minerals sector, and our Critical Minerals Innovation Fund is a core component of this strategy," said Stephen Lecce, Minister of Energy and Mines. "This investment will help advance innovative processing work at the Springer REE and Gallium Project and support the development of a domestic rare earth and gallium supply chain. By backing companies like Volta Metals, we are securing Ontario's place as a key supplier of the critical minerals essential for a modern, competitive, and self-reliant economy."

Kerem Usenmez, President and Chief Executive Officer of Volta, commented, "We are extremely pleased to be the recipients of this funding and grateful for the Ontario government's continued support of our work at Springer. The CMIF award will allow us to accelerate metallurgical and processing studies that are critical to advancing the project toward development. Springer is one of the largest rare earth deposits in North America, and innovative process work funded through programs like the CMIF, alongside the Province's new $500 million Critical Minerals Processing Fund, is exactly the kind of support that will help build a Made-in-Ontario critical minerals supply chain. We look forward to reporting results from this work and continuing to build shareholder value."

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