Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) has commenced diamond drilling at its Schryburt Lake Rare Earth Element-Niobium Project in northwestern Ontario, marking the first such campaign at the property. The approximately C$1.7 million program, which began on Oct. 22, 2026, includes three inclined holes totaling about 1,500 meters and targets magnetic anomalies beneath the Blue Jay, Starling and Blackbird targets. The company said drill locations were selected using historical exploration data, geophysical surveys, surface sampling and artificial intelligence-driven modeling by ExploreTech. The 12-person field crew includes members of Nibinamik First Nation under an exploration agreement announced on Oct. 8, 2026.
The drilling program is important because it represents the first direct test of the project’s subsurface geology and could validate the AI-driven targeting that guided hole placement. Program expenditures will contribute toward the C$1.5 million spending requirement for Canamera to earn an initial 51% interest in the project, with the potential to earn up to 90% through a three-stage agreement. Successful results could therefore significantly expand the company’s ownership stake and confirm the project’s potential as a source of critical minerals.
Separately, Canamera announced plans to consolidate its common shares on a one-for-six basis, subject to Canadian Securities Exchange approval, with trading on a consolidated basis expected to begin on or about Nov. 6, 2026. Following the consolidation, approximately 25.5 million shares are expected to be outstanding, subject to rounding adjustments. The company’s name and trading symbol, EMET, will remain unchanged. Shareholders holding shares electronically will have their positions adjusted automatically, while holders of physical certificates will receive instructions for exchanging their shares.
The share consolidation is a structural change that may affect the company’s capital markets profile, but it does not alter underlying ownership percentages or the company’s strategic direction. Canamera is a rare earth elements exploration and development company with an expanding project portfolio across Brazil, the United States and Canada, focused on advancing ionic clay REE projects in Brazil and critical mineral assets in North America to support Western rare earth supply chain independence. The latest news and updates relating to EMETF are available in the company’s newsroom at https://ibn.fm/EMETF. For further details on the drilling program and consolidation, the full press release can be viewed at https://ibn.fm/7IlPd. The announcement was disseminated through InvestorWire, a communications platform within the Dynamic Brand Portfolio at IBN, which provides services including editorial syndication to 5,000+ outlets, press release enhancement and social media distribution. Canamera Energy Metals Corp. is featured at Canamera Energy Metals Corp..
