Metallium's US Subsidiary Flash Metals USA Signs Non-Binding MOU with Traxys North America to Advance U.S. Critical Metals Commercialization of Metallium's Flash Joule Heating Platform

HOUSTON, Oct. 26, 2026 /PRNewswire/ -- Metallium Limited (ASX: MTM; OTCQX: MTMCF; OTCAX ADR: MTLMY) announced its wholly owned U.S. subsidiary, Flash Metals USA, Inc., signed a non-binding Memorandum of Understanding with Traxys North America LLC to evaluate opportunities to develop U.S. critical-metals supply chains, combining Metallium's Flash Joule Heating (FJH) processing platform with Traxys' global commercial capabilities. The framework runs through November 2027, allowing selected transactions to be progressed as they become technically and commercially viable. The immediate focus is to define priority feedstocks and products, assess processing economics and negotiate supply, offtake and financing terms.

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Traxys is a leading international metals and minerals sourcing conglomerate generating more than US$10 billion in annual revenue across more than 65 commodities, and one of three suppliers named by the Export-Import Bank of the US (EXIM) for Project Vault, a U.S. Government-supported strategic critical minerals reserve backed by a loan facility of up to US$10 billion.

"America's critical-metals security depends on being able to process materials into usable products on American soil," said Michael Walshe, managing director and CEO of Metallium. "Midstream processing is essential to that capability, and FJH is central to the solution Metallium is developing. Our aim is to unlock metals from complex or stranded feedstocks for downstream refining and manufacturing." He noted that Traxys brings sourcing, marketing and financing experience to help Metallium connect that processing capability with reliable feedstock and customers. "This is more than finding a buyer," he stressed. "Linking feedstock supply product offtake and financing could reduce the working capability required to scale a domestic processing business."

Walshe noted that the company's immediate focus will be on specific opportunities where Metallium's processing technology and Traxys' commercial capabilities can support viable domestic supply. "After that, we intend to match feedstocks with product specifications and customer requirements, assess processing economics, and agree on workable supply, offtake and financing terms." Walshe stressed that the company wants to progress the strongest opportunities first, while retaining the broader framework to develop additional transactions.

Traxys is a leading global physical commodity trader and merchant in the metals and natural resources sectors, with headquarters in Luxembourg and more than 20 offices worldwide. Traxys is engaged in sourcing, trading, marketing and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials and energy products. The company has been named a supplier to Project Vault, the U.S. Government-supported strategic critical minerals reserve program. More information on Traxys can be found at https://www.traxys.com.

Metallium Ltd. (https;//www.metalliuminc.com) is developing U.S. processing capability for critical and precious metals through its wholly owned subsidiary, Flash Metals USA Inc. Its strategy centers on Flash Joule Heating (FJH) and complementary processing steps to recover metals from mineral feedstocks, industrial residues and recycled materials. Metallium's Gator Point Technology Campus in Anahuac, Texas, supports development of its processing platform. The company aims to provide part of the midstream capability needed to connect domestic and allied feedstocks with downstream refining and manufacturing. Commercial deployment remains subject to technical performance, scale-up, product qualification, approvals and funding.

SOURCE Metallium Ltd.