Regina, Saskatchewan--(Newsfile Corp. - August 10, 2026) - GEM OIL INC. ("GEM" or the "Company") is pleased to announce that it has acquired by staking a 100% interest in nine mineral claims covering approximately 30,927 hectares (309 square kilometres) of prospective beryllium and rare-element pegmatite geology in the Jan Lake-Deschambault Lake area of northeastern Saskatchewan.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6326/308810_berylpegmap.jpg

The newly acquired mineral dispositions comprise MC00023240, MC00023241, MC00023242, MC00023243, MC00023244, MC00023245, MC00023246, MC00023247 and MC00023248.

The Property covers portions of an extensive historic pegmatite field documented by Saskatchewan government geologist W. A. Padgham in Report No. 114 - The Geology of the Deschambault Lake District, published by the Saskatchewan Department of Mineral Resources in 1968.

Historical government mapping documents coarse beryl, zoned pegmatites, muscovite- and garnet-bearing pegmatites, abundant schorl tourmaline and structurally controlled concentrations of pegmatite lenses. In some areas, Padgham reported that pegmatite lenses constituted nearly half of the exposed rock volume.

Despite the scale and geological complexity of the pegmatite field, much of the area has not been systematically sampled or chemically characterized using modern exploration methods.

GEM believes the combination of district-scale land position, documented beryl mineralization, extensive pegmatite development, favourable structural controls and indications of rare-element enrichment presents a compelling opportunity to evaluate a large and comparatively underexplored pegmatite system.

Historic Beryllium Discovery

Padgham's regional mapping identified pegmatite as a common and widespread rock type in the eastern portion of the Deschambault Lake District. He noted that pegmatites are practically absent west of the Deschambault Channel but occur in abundance throughout portions of the eastern and southern district.

Of particular interest is Padgham's documentation of beryl, the principal ore mineral of beryllium, within the pegmatite field.

Padgham reported three beryl crystals within a pegmatite near the north end of a large peninsula extending into the Southeast Arm, approximately 1¾ miles north of the southern extremity of the Arm. One of the exposed beryl crystals was reported to be nearly four inches across.

The significance of the occurrence extends beyond the presence of individual beryl crystals. Padgham described numerous features indicative of a large and complex pegmatite system, including zoned pegmatites, muscovite-rich pegmatites, garnet-bearing pegmatites and widespread schorl tourmaline.

East of Tower Island, Padgham documented exceptionally large tourmaline crystals, some nearly three inches across and at least three feet long, illustrating the coarse-grained nature of portions of the pegmatite system.

Structural Controls and Pegmatite Abundance

Padgham observed that pegmatite lenses are particularly abundant along northeast-trending structural lineaments, some associated with brecciation and mylonitization.

These structural relationships are significant from an exploration perspective because they provide potential geological controls that may assist in identifying and prioritizing prospective pegmatite corridors.

In certain mapped areas, the concentration of pegmatite development was exceptional, with Padgham reporting that pegmatite lenses locally constituted nearly 50% of exposed rock.

GEM believes that the combination of widespread pegmatite development and recognizable structural controls provides an attractive geological framework for systematic modern exploration.

Renewed Critical-Mineral Significance

The significance of the historic geological observations has increased with growing strategic interest in beryllium and other critical minerals.

More recent exploration and geological interpretation within the broader Jan Lake area have identified mapped beryllium and rare-element pegmatites, with anomalous beryllium, rubidium, gallium, tantalum, cesium and lithium reported within the broader pegmatite field.

Previous work across the district has been largely regional in nature. Numerous pegmatite bodies have been identified through geological mapping, but many occurrences have not been systematically sampled or chemically characterized.

This presents an opportunity to apply modern geological mapping, systematic geochemistry and geophysical interpretation to a pegmatite field recognized more than half a century ago but never comprehensively evaluated for its beryllium and associated rare-element potential.

District-Scale Exploration Opportunity

With approximately 30,927 hectares (309 square kilometres) under 100% ownership, GEM's Jan Lake-Deschambault Lake Property provides the Company with the ability to evaluate a substantial portion of a historically documented pegmatite field rather than an isolated mineral occurrence.

The exploration concept is supported by several geological characteristics:

• documented coarse beryl mineralization;
• widespread and locally abundant pegmatite development;
• zoned and mineralogically complex pegmatites;
• muscovite-, garnet- and schorl-bearing varieties;
• northeast-trending structural corridors associated with concentrations of pegmatite lenses;
• reported rare-element enrichment within the broader pegmatite field; and
• comparatively limited systematic modern exploration and geochemical characterization.

The Property has not yet been demonstrated to contain an economic mineral resource, and substantial exploration will be required to determine the extent, grade, mineralogy and continuity of any beryllium or rare-element mineralization.

GEM nevertheless considers the combination of scale, geological evidence and limited modern systematic exploration to provide a compelling opportunity to investigate a potentially significant rare-element pegmatite system.

Exploration Plans

GEM intends to compile and integrate available historical geological mapping, Saskatchewan assessment records, geochemical information and geophysical datasets covering the Property.

Initial exploration is expected to focus on locating and sampling historically mapped pegmatites, confirming beryl-bearing occurrences, mapping pegmatite geometry and structural controls, and systematically evaluating prospective pegmatites for beryllium and associated rare elements.

Particular attention will be directed toward zoned pegmatites, northeast-trending structural corridors, historically documented beryl occurrences and areas of unusually abundant pegmatite development.

The objective of this initial work will be to identify and prioritize targets for more detailed surface exploration and, where warranted, subsequent drill testing.

GEM considers the Jan Lake-Deschambault Lake Property an exciting new addition to its Saskatchewan mineral exploration portfolio and an opportunity to apply modern exploration techniques to a large pegmatite field whose critical-mineral potential remains incompletely understood.

About Beryllium

Beryllium is a rare critical mineral distinguished by its exceptional strength-to-weight ratio, stiffness, thermal stability and heat-transfer properties. These characteristics make beryllium important in specialized applications including aerospace, defence, advanced electronics, nuclear technology and other high-performance technologies.

Unlike conventional base metals such as copper and zinc, beryllium is not traded on a public metals exchange and therefore does not have a transparent daily benchmark price. The specialized nature of the beryllium market, combined with its strategic applications and limited sources of primary supply, has contributed to growing interest in identifying and evaluating potential new sources of beryllium mineralization.

About GEM OIL INC.

GEM OIL INC. is a privately held Canadian natural resource company founded in 1956, with interests in mineral exploration and oil and natural gas royalties in Western Canada.

The Company maintains an active mineral exploration portfolio in Saskatchewan and is focused on acquiring and advancing high-quality exploration opportunities with significant discovery potential.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308810

Source: Gem Oil Inc.