Calgary, Alberta–(Newsfile Corp. – July 6, 2026) – Metatek-Group Ltd. (TSX: MTEK) (“Metatek” or the “Company”), the exclusive global provider of Enhanced Full Tensor Gravity Gradiometry (“eFTG”), announces that airborne data acquisition operations have commenced in Nigeria under its largest multi-year contract to date.
The contract comprises over 210,000 line kilometres of advanced eFTG multi-disciplinary data acquisition, processing and interpretation services and is expected to be executed in three phases over approximately two years. Airborne operations mark the beginning of the contract’s execution phase and enable revenue recognition in accordance with the contract terms.
“We are pleased to commence our second multi-year contract in Nigeria, having successfully delivered our first program from 2022 to 2025. This new project is larger in scope, both operationally and technically, and builds on the value demonstrated by our previous data in supporting resource exploration,” said Dr. Mark Davies, CEO of Metatek.
“Throughout Q2, we have worked closely with our in-country partners to establish the operational framework for this significant program. With airborne operations now underway, we look forward to delivering this project in partnership with Broadlink and Nigeria’s national energy industry.”
Highlights:
- Airborne eFTG data acquisition operations are now underway in Nigeria under the Company’s largest multi-year contract to date.
- Commencement of field operations marks the transition of the contract into its execution phase and the commencement of revenue recognition in accordance with the contract’s terms.
- Approximately 210,000 line kilometres of data acquisition to be executed over three phases.
- Program expected to span two years, with the second phase to be acquired in 2027.
- Contract builds on the successful completion of the Company’s previous Nigeria program and the demonstrates the value of its eFTG data in supporting resource exploration.
About Metatek
Metatek (www.metatek-group.com) is a global geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land, and sea environments.
Metatek supports national energy security and helps accelerate the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel, and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.
For further information:
Investor Relations
Dennis Fong
(416) 283-9930
investorrelations@metatek-group.com
Media Relations
Oliver Chesher or Hannah Martland
Phone: +44 161 302 0671
Email: oc@galibierpr.co.uk
Email: hannah.martland@galibierpr.co.uk
Forward-Looking Information
This press release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “seek”, “potential”, “estimate”, “anticipate”, “believe”, “could”, “would”, “should”, “continue”, “plans”, “target”, “is/are likely to”, or the negative of these terms, or similar expressions intended to identify forward-looking statements.
Forward-looking statements reflect the Company’s current views with respect to future events and are subject to various known and unknown risks and uncertainties, which are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Metatek, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the timing and execution of the Company’s contracts; the ability to mobilize and operate in international jurisdictions; regulatory and permitting processes; the continuation of client relationships; and general economic, geopolitical and industry conditions.
The risks and assumptions outlined above should not be construed as exhaustive. For additional information with respect to certain of these risks or uncertainties and other factors that could affect Metatek’s operations and financial results, reference should be made to the section entitled “Risks and Uncertainties” in the Company’s MD&A for the fiscal year ended December 31, 2025 and to Metatek’s continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Company’s most recent Annual Information Form under the section entitled “Risk Factors”, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update forward-looking statements except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.
