LONDON, Oct. 20, 2026 /PRNewswire/ -- The "Dairy Blends Market - Growth, Share, Opportunities & Competitive Analysis, 2025-2035" report has been added to the Credence Research Inc. market intelligence offering.

The global dairy blends market was valued at USD 9.97 billion in 2025 and is estimated at USD 10.40 billion in 2026. Revenue is projected to reach USD 15.38 billion by 2035, with a stated CAGR of 4.43% over 2025-2035. The cost gap between milk fat and vegetable fats, shelf-stable milk substitutes and industrial ingredient demand are supporting dairy blend sales. Asia Pacific held 30.2% of 2025 revenue, while Africa is the fastest-growing region in the Credence Research model. Market sizes and segment and regional shares are Credence Research estimates.

Key Takeaways

- Credence Research estimates the dairy blends market at USD 9.97 billion in 2025 and forecasts USD 15.38 billion in 2035, a 4.43% CAGR.

- Fat-filled milk powders led by type with 35.5% of 2025 value and have the fastest modeled growth at 5.43%.

- Powder products held 61.0% of 2025 revenue, supported by shelf life and easier transport.

- Asia Pacific held 30.2% of 2025 value; Africa accounted for 20.4% and is modeled to grow fastest at 5.68%.

- Arla Foods and DMK Group officially united in June 2026, strengthening European dairy production scale.

- Dairy naming rules, input-price swings and import policy remain major constraints.

Scope & Segmentation - Dairy Blends Market

Fat-filled milk powders, dairy ingredient blends, spreadable butter blends and filled evaporated or condensed milk. Straight milk powders, butter, infant formula and products containing no dairy ingredients are excluded.

By type: Fat-filled milk powders; dairy ingredient blends; spreadable butter blends; filled evaporated and condensed milk.

By application: Household and reconstituted milk; spreads and table use; bakery and confectionery; beverages and creamers; ice cream and frozen desserts; prepared foods and foodservice.

By form: Powder; spreadable; liquid.

By region: Asia Pacific; Europe; Africa; North America; Middle East; Latin America.

Explore the full market report: Dairy Blends Market

Why This Report Matters

- Separates blended dairy products from straight dairy commodities and non-dairy substitutes.

- Shows how ingredient economics, cold-chain limitations and consumer price sensitivity shape geographic demand.

- Tracks 2026 cooperative mergers and portfolio transactions that affect milk sourcing, brands and processing capacity.

Market Overview

Dairy blends combine dairy components with other ingredients to meet cost, texture or handling requirements. Fat-filled milk powder typically substitutes part of expensive milk fat with vegetable fat while retaining milk protein. Spreadable blends target convenience and performance in mature retail markets, while tailored dairy ingredient blends serve bakery, beverages and foodservice.

Powders have particular value in import-dependent markets because they are comparatively easy to transport and store without refrigeration. The forecast assumes that the price difference between milk fat and vegetable oils remains sufficient to support substitution, while producers retain access to compliant ingredients and local distribution channels.

Market Insights

- Fat-filled milk powders accounted for 35.5% of 2025 type revenue.

- Spreads and table use led application value at 23.7%, while household and reconstituted milk is the fastest-growing application at 5.26%.

- Powder was the largest form with a 61.0% share in 2025.

- Asia Pacific led at 30.2%, while Africa was modeled to grow fastest at 5.68%.

Key Attributes

Segmentation

By type

Fat-filled milk powders; dairy ingredient blends; spreadable butter blends; filled evaporated and condensed milk.

By application

Household and reconstituted milk; spreads and table use; bakery and confectionery; beverages and creamers; ice cream and frozen desserts; prepared foods and foodservice.

By form

Powder; spreadable; liquid.

By region

Asia Pacific; Europe; Africa; North America; Middle East; Latin America.

Market Drivers and Growth Dynamics

The relative cost of milk fat is the central economic driver. In price-sensitive markets, replacing part of milk fat with vegetable fat can lower the price of a reconstituted product. The savings are important in West Africa and Southeast Asia, where shelf-stable powders support distribution across markets with limited refrigeration.

Food factories also value consistent ingredient blends that simplify procurement and processing. A supplier able to tailor protein, fat and solids to a customer's specification can secure repeat orders after qualification. European spreadable blends compete more on texture, convenience and brand position than on the lowest cost.

Regional Analysis

Asia Pacific held 30.2% of 2025 market value, supported by powder and filled milk products in Southeast Asia and ingredient demand in larger food manufacturing markets. Europe followed with 25.7%, where butter blends and specialized dairy ingredients are established.

Africa accounted for 20.4% and is the fastest-growing region in the model at 5.68% annually. Imported fat-filled powder serves markets with significant demand for affordable reconstituted milk. Import substitution policies and currency volatility are important risks.

North America held 8.9%, the Middle East 8.3% and Latin America 6.5%. North American demand centers on industrial ingredients and retail blends, while the Gulf and Latin America use a mix of imported powder and food-processing ingredients. Shares are Credence Research estimates.

Market Challenges

Dairy-product naming and labeling rules limit how products containing vegetable fat may be marketed. Exporters must also navigate destination-country standards and import policies. A product positioned as affordable milk in one jurisdiction may require different labeling in another.

Both dairy and vegetable fats are volatile inputs. Blenders can face temporary margin pressure when procurement costs change faster than customer contract prices. Traceability requirements and shifts in import duties add operating complexity for smaller suppliers.

Future Outlook

Credence Research expects shelf-stable powders in Africa and Asia to contribute much of the incremental value through 2035. Europe should remain an important market for spreadable blends and specialized ingredients. Larger cooperatives and processors may improve sourcing efficiency, but their performance will depend on commodity prices and local market access.

Competitive Landscape

Arla Foods, FrieslandCampina, Lactalis, Ornua, Tirlán, Lakeland Dairies and Fonterra participate through dairy production, brands or ingredient supply. Alpen Food Group, Dana Dairy Group, Promasidor and Vreugdenhil Dairy Foods serve powder and blended-product channels. Danone participates in related consumer dairy and creamer categories. The merger of Arla and DMK, Fonterra's Mainland divestiture and the FrieslandCampina-Milcobel merger changed ownership structures in 2026. These corporate events do not establish market-share rankings for dairy blends.

Key Players

- Arla Foods

- FrieslandCampina

- Lactalis

- Ornua

- Tirlán

- Lakeland Dairies

- Alpen Food Group

- Dana Dairy Group

- Promasidor

- Vreugdenhil Dairy Foods

- Fonterra

Recent Developments

June 2026: Arla Foods and DMK Group officially united, creating a larger farmer-owned dairy cooperative with a combined milk pool of 19.4 billion kilograms annually.

March 2026: Fonterra completed the sale of its Mainland Group consumer and associated businesses to Lactalis.

January 2026: The FrieslandCampina and Milcobel cooperative merger took effect following membership approvals announced in December 2025.

Report Coverage

The Dairy Blends Market study evaluates market size and forecast growth, the segmentation categories listed above, regional demand patterns, relevant policy and technology developments, supplier positioning and commercialization risks. It covers the 2025 base year and forecasts to 2035. The report distinguishes modeled estimates from independently disclosed company transactions and regulatory events.

The research supports strategy, investment screening, market entry and competitive benchmarking. Figures should be interpreted within the report's stated revenue boundaries; they are not independently audited market totals. Forecast outcomes depend on the adoption, pricing and regulatory assumptions discussed in the analysis.

Explore the full market report: Dairy Blends Market

Related Credence Research Reports

https://www.credenceresearch.com/report/uk-clean-label-starch-market

https://www.credenceresearch.com/report/food-emulsifiers-market

https://www.credenceresearch.com/report/insect-feed-market

https://www.credenceresearch.com/report/wheat-starch-market

https://www.credenceresearch.com/report/soluble-fibers-market

https://www.credenceresearch.com/report/cbd-snacks-market

About Us

Credence Research Inc. is a global market intelligence and consulting firm founded in 2015. It provides quantitative research, market forecasts, competitive intelligence and strategic guidance to business leaders, investors, governments and other organizations across a broad range of industries.

The firm develops market reports and customized research covering industry structure, demand drivers, technology trends, company positioning and regional opportunities.

Contact Us

Credence Research Inc.

Tower C-1105, S 25, Akash Tower

Vishal Nagar, Pimple Nilakh, Haveli

Pune - 411027, India

Europe Phone: +44 7453 598 606

US Phone: +1 6282 627 656

Email: [email protected] 

Website: https://www.credenceresearch.com/ 

SOURCE Credence Research Inc.

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JACKSONVILLE, Fla., Oct. 20, 2026 /PRNewswire/ -- Renue By Science, a longevity-focused wellness company specializing in NAD+ formulations, today announced the release of its latest whitepaper on Renue Blue Moisturizing Body Cream. The whitepaper reports results from a four-week consumer perception study, conducted with Citruslabs, of how women perceived changes in visible signs of body skin aging, including dryness, rough texture, fine lines, and crepey skin.

Dry, crepey, and less-firm skin on the arms, legs, and hands is one of the most common skin concerns among women over 30. Yet anti-aging research has focused mostly on the face, and products made for aging body skin have received far less study.

Renue Blue Moisturizing Body Cream was formulated to fill that gap. It combines longevity-focused ingredients, antioxidants, peptides, and botanical extracts. At its core is a liposomal complex of NAD+, NMN, NR, and Methylene Blue. Liposomal encapsulation is designed to help deliver these ingredients deeper into the skin for better absorption. Methylene Blue also works alongside CoQ10 and green tea extract as part of the formula's antioxidant defense. The rest of the formula is built around three goals:

- Hydration and comfort: Squalane, caprylic/capric triglycerides, and coconut oil help lock in moisture through the day.

- Barrier support: Rice lipids and chia seed extract help reinforce the skin's natural barrier.

- Firmness: Palmitoyl Tripeptide-5, together with NMN and NR, supports visibly firmer, more resilient skin.

In the new study, 40 women aged 30 to 65 with at least one self-reported visible sign of body skin aging applied the cream once daily for four weeks; 38 completed the study. Participants reported benefits early, and the benefits grew over time:

- Fast-acting hydration: 84% agreed their skin felt more hydrated by Day 3.

- Smoother, more even skin: 95% reported smoother skin at Week 4, and 89% reported improvement in rough or uneven areas.

- Visible aging concerns: 89% reported an improved appearance of fine lines, and 84% agreed crepey-looking areas appeared reduced and their skin felt firmer.

- Higher self-rated scores: On a 0–10 scale, mean hydration scores rose from 4.74 to 8.22, and mean scores for the appearance of crepey skin rose from 5.03 to 7.76.

- High satisfaction: 95% were satisfied with their results, and 92% would recommend the cream to family and friends.

"Body skin has been largely overlooked in skin aging research, even though concerns like crepey skin on the arms and legs come up constantly with the women we hear from," said Rebecca Crews, Ph.D., Research Director at Renue By Science. She added, "We built Renue Blue around liposomal NAD+ precursors and Methylene Blue, and we wanted to hear directly from women using it. Most noticed their skin felt more hydrated within just a few days, and the results kept improving over the four weeks."

Renue By Science is committed to developing science-backed products and to transparency in how they are evaluated. The company continues to invest in human research across its portfolio.

This was a virtual, single-arm consumer perception study; results reflect participants' self-reported perceptions.

SOURCE Renue By Science

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AKRON, Ohio, Oct. 20, 2026 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) will report third quarter 2026 financial results after market close on Wednesday, November 4, followed by a conference call at 8:30 a.m. Eastern time on Thursday, November 5.

The Company will publish its results on November 4, in the form of an Earnings Release and an additional presentation on its investor website: http://investor.goodyear.com. The following morning, the Company will host a conference call.

The call can be accessed on the website or via telephone by calling either (833) 419-0865 or (785) 838-9333 before 8:25 a.m. and providing the conference ID "Goodyear." A replay will be available by calling (800) 723-0607 or (402) 220-2658. The replay will also be available on the website.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 60,000 people and manufactures its products in 48 facilities in 19 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

SOURCE The Goodyear Tire & Rubber Company

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PITTSBURGH, Oct. 20, 2026 /PRNewswire/ -- MSA Safety Incorporated (NYSE: MSA), a global leader in the development of advanced safety products and solutions that protect people and facility infrastructures, today announced that it will host the company's third quarter 2026 earnings conference call on Tuesday, November 3, 2026, at 10:00 a.m. Eastern Time.

The call and accompanying slide presentation will be webcast at http://investors.msasafety.com/ under the "News and Events" tab, subheading "Events & Presentations." A replay of the conference call will be available at http://investors.msasafety.com/ shortly after the conclusion of the presentation and will be available for the following 90 days.

Investors and interested parties can also dial into the call at 1-844-854-4415 (toll-free) or 1-412-902-6599 (international) a few minutes before 10:00 a.m. Eastern Time. When prompted, please instruct the operator to join the MSA Safety Incorporated conference call.

A press release outlining MSA's third quarter 2026 financial results will be distributed on Monday, November 2, 2026, after the market closes.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

SOURCE MSA Safety

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Grant to support outdoor STEM learning opportunities for youth

SHELBYVILLE, Ind., Oct. 20, 2026 /PRNewswire/ -- The American Water Charitable Foundation, a philanthropic nonprofit organization established by American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the United States, and Indiana American Water today recognized Girls Inc. of Shelbyville as a recipient of a $25,000 Foundation STEM Education Grant.

The grant will help Girls Inc. of Shelbyville create an Outdoor Learning Lab in Shelbyville, Indiana, featuring a pollinator sensory garden and hands-on learning spaces that will engage youth in STEM, sustainability and environmental stewardship through year-round outdoor programming.

"Girls Inc. of Shelbyville is proud to provide experiences that help girls explore new ideas, build confidence and see themselves as future leaders," said Amy Dillon, President and CEO, Girls Inc. of Shelbyville. "The support from the American Water Charitable Foundation will help us bring a major phase in STEM learning to life in an outdoor setting where students can connect with nature, ask questions and discover how science and sustainability are part of their everyday lives."

The STEM Education Grant is part of the American Water Charitable Foundation's Keep Communities Flowing Grant Program, which focuses on three pillars of giving: Water, People and Communities. The program provides STEM-focused curricular and extracurricular programs for young students.

"Girls Inc. of Shelbyville is creating a unique space where students can learn by doing, and that kind of experience can make a lasting impact," said Travis Edington, Director of Central and Southern Operations, Indiana American Water. "At Indiana American Water, we know that strong communities are built through strong partnerships, and we are proud to support programs that help young people explore STEM, environmental stewardship and the natural world around them."

"Supporting organizations that inspire learning and create opportunities for young people is central to the American Water Charitable Foundation's mission," said Carrie Williams, President, American Water Charitable Foundation. "This grant will help empower students with hands-on STEM experiences that foster curiosity, innovation and a lifelong appreciation for the world around them."

The grant supports communities served by Indiana American Water and reflects the company's continued commitment to meaningful community partnerships and educational opportunities.

About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 19 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About American Water Charitable Foundation

The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water, focuses on three pillars of giving: Water, People, and Communities. Since 2012, the Foundation has invested over $25 million in funding through grants and matching gifts to support eligible organizations in communities served by American Water. The Foundation is funded by American Water shareholders and has no impact on customer rates. For more information, visit amwater.com/awcf.

About Indiana American Water

Indiana American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 1.5 million people. 

For more information, visit amwater.com/inaw and join Indiana American Water on Facebook.

SOURCE American Water

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Fulcra Launches Agent Skill to Build Apps People and Agents Can Use Together

Build it with your AI agent. Use it yourself or invite your household, team, or friends, with sign-in, data storage, and hosting provided by Fulcra

BOSTON, Oct. 20, 2026 /PRNewswire/ -- Fulcra Dynamics, a company building the tools to help agents connect and collaborate, today released build-and-deploy-a-web-app, an agent skill for creating shared applications that people and their agents can use together. Builders describe what they want to their AI agent, then build and deploy an app with authentication, hosting, and Fulcra's user-owned context backend.

A shared project can have a website for people to use directly while authorized agents read and contribute to its data through Fulcra. One person might use the web interface, another might contribute through Claude, and another through ChatGPT. Participants can use different AI products and choose what context to share.

"I'm building agents that make my life better. I want the other people in my life to benefit from them without having to adopt my whole setup," said Michael Tiffany, CEO of Fulcra Dynamics.

Create something other people can join

The skill is designed for builders who want to turn a personal tool or agent workflow into something useful to a household, team, or community. Participants don't need to build an agent themselves, use the builder's agent platform, or understand the infrastructure behind the app.

Applications already built on Fulcra illustrate the range of possibilities:

- Agent Mixer: A pre-event web-app to help conference attendees meet-up with truly relevant attendees for networking and conversation.

- Bot Safari: A show-and-tell among friends who share how they've set up their bots. Together, their contributions let each participant go on a "bot safari" to discover other people's approaches and find ideas for improving their own setups.

- Creator Dealflow: A dashboard for helping creators and influencers manage payments for free

- Creator Desk: A dashboard that manages brands creator payments and performance.

- Home Twin: A tool for managing a home's equipment, records, and care, giving household members and authorized agents a common source of information.

- Secret Agent Network: An invite-only network for sharing tips for improving human-agent collaboration.

- Personal agent pages: CEO Michael Tiffany, co-founder Ash Kalb, and consultant Lindsey Boan have built landing pages where other people's agents can find and connect with theirs, even across different platforms. The agents can handle the handshake without their owners having to relay messages or set up the connection themselves.

Web apps with a context backend

Fulcra provides authentication, data storage, permissions, and hosting for the resulting apps. Builders can deploy without creating a separate hosting account. The same Fulcra-backed records and files can be available to authorized agents through Fulcra's interfaces, including MCP. An agent does not have to be the one that built the app to contribute to its data.

Participants control what they share

Fulcra keeps participants' context under their own control and lets them share selected data with other people and their agents. They can revoke future access without giving up their own stored context.

"I don't want to be my own middleware," said Tiffany. "If your agent needs to reach mine, they should be able to make that connection without the two of us carrying messages back and forth."

The skill is available now on GitHub: https://github.com/fulcradynamics/agent-skills/tree/main/skills/build-and-deploy-a-web-app

About Fulcra Dynamics

Fulcra Dynamics, a Boston-based company, builds the user-owned context backend for AI agents. Fulcra brings real-world data, recorded knowledge, files and ongoing agent work into one owner-controlled context, helping agents know their users, know what's happening, and work with other users and their agents across compatible AI products.

Rent the reasoning. Own the context.

SOURCE Fulcra Dynamics

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BMO Announces Executive Appointments

- Tim Cox named U.S. Country Head

- Darrel Hackett to be appointed Executive Vice-Chair and Senior Advisor

TORONTO and CHICAGO, Oct. 20, 2026 /CNW/ -- BMO today announced the appointment of Tim Cox as U.S. Country Head, BMO Financial Group, and CEO of BMO's U.S. subsidiaries BMO Financial Corp. and BMO Bank N.A.

Mr. Cox will report to Darryl White, Chief Executive Officer of BMO Financial Group, join the bank's Executive Committee and chair the U.S. Management Committee. His appointment is effective November 1, 2026. Mr. Cox joined BMO in 2010 and has held a number of senior Legal & Regulatory Compliance leadership roles, including Global Chief Regulatory Officer. Since 2022, he has served as U.S. General Counsel.

"As our U.S. Country Head, Tim's leadership, deep understanding of our business and commitment to serving our clients, colleagues and communities will be key to the continued success of our U.S. franchise," said Darryl White, Chief Executive Officer, BMO Financial Group. "Tim is a highly respected leader who has helped shape BMO's growth over the past 15 years, supporting the expansion of our business while strengthening the governance, risk management and regulatory foundation that underpins our success."

Darrel Hackett has shared his intention to retire from his role as U.S. CEO after more than 22 years with BMO. Mr. Hackett will transition to a role of Executive Vice-Chair and Senior Advisor effective November 1.

"Darrel has played a central role in advancing our North American growth strategy and helping build the U.S. business we have today," continued Mr. White. "Darrel is a tireless advocate for our clients, our employees and the communities we serve, and his leadership has strengthened relationships across our markets helping ensure we continue to deliver the insights, advice and capabilities our clients value most."

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026. Serving customers for more than 200 years and counting, BMO is a diversified team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to more than 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world and making progress for a thriving economy, sustainable future and inclusive society.

SOURCE BMO Financial Group

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GALLIPOLIS, Ohio, Oct. 20, 2026 /PRNewswire/ -- Ohio Valley Banc Corp. [Nasdaq: OVBC] Board of Directors declared a cash dividend of $0.25 per common share payable on Nov. 10, 2026, to shareholders of record as of the close of business on Oct. 30, 2026.

"From opening a new loan office in Charleston, W. Va., to continued commitment of the bank's Community First mission through supporting youth at local fairs as well as countless volunteer efforts by Ohio Valley Bank employees in their respective regions, it has been an active year for the company. As the year is coming to a close, your company is dedicated to finishing strong while upholding the values and goals that has allowed us to remain an independent community bank for 154 years," OVBC Chairman Ryan Smith said.

Ohio Valley Banc Corp. is based in Gallipolis, Ohio. The company owns The Ohio Valley Bank Company, with 19 offices in Ohio and West Virginia, and Loan Central, Inc., with six consumer finance offices in Ohio. Learn more about Ohio Valley Banc Corp. at www.ovbc.com.

Contact: Scott Shockey or Bryna Butler, 740-446-2631, 1-800-468-6682

SOURCE Ohio Valley Banc Corp.

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Partnership to launch phased, strategic renovation program to modernize units and common areas

SAN FRANCISCO, Oct. 20, 2026 /PRNewswire/ -- An affiliate of Oberndorf Real Estate Management ("OBREM") in partnership with The Bascom Group, LLC ("Bascom") today announced the acquisition of Museum Park Apartments, a 117-unit Class B+ multifamily property located at 465 West San Carlos in San Jose, CA for $53.1 million.

Built in 2002, the three-story garden-style community spans 12 buildings across three acres. The floor plans range from one- to three-bedroom apartments, which at a blended 1,035 SF per unit, are large relative to both the market and newly developed properties. Residents have access to 130 parking spaces, with most units featuring attached private garages with just over half providing direct access to the homes. Other amenities include in-unit washers and dryers in every apartment, a fitness center, green space, barbecue areas, and a dog park.

Museum Park is located in a prime downtown San Jose area near employment centers and transit infrastructure. The apartments are a short walk to San Pedro Square and the SAP Center, and San Jose Diridon Station is less than a mile away, providing residents direct access to the region's Caltrain and light-rail hub. Interstate 280 and Highway 87 are within a half mile. Many of Silicon Valley's employers are minutes away, including Apple, NVIDIA, Adobe, and Cisco, with more than 200 restaurants and 40 arts and cultural venues in the area. Additionally, Google's Downtown West project could reshape the surrounding area if completed as planned.

Peter Oberndorf, Managing Director of OBREM, said, "This acquisition marks OBREM's first investment in California in over a decade, and we are excited to return to our home base in the Bay Area. With home ownership in San Jose costing significantly more than renting, we see strong underlying fundamentals in this market, including high barriers to entry for new multifamily supply, robust demographics, and sustained job growth, that support our long-term investment in Museum Park."

Museum Park's low-rise garden apartments with large unit sizes provide a strong foundation and substantial unrealized potential. Having never been renovated, the property represents a compelling opportunity for the partnership's strategic value-add renovation program, which will modernize kitchens, bathrooms, and common areas to enhance the community.

Chad Sanderson, Bascom's Senior Principal of Business Development and Acquisitions, stated, "The commercial real estate market in San Jose and the greater San Francisco Bay Area is experiencing an unprecedented structural resurgence driven by the AI-focused Silicon Valley ecosystem, which effectively reversed post-pandemic tech downsizing and stimulated demand for well-located rental assets like Museum Park."

Museum Park will be managed by Apartment Management Consultants (AMC), a top 10 nationally recognized multifamily property manager, overseeing approximately 158,000 units across the U.S. Combined with the partnership's planned renovation program, the new management team will help enhance the resident experience while preserving and building upon the unique character and charm that has defined Museum Park since opening.

Paul Zakhary, Bascom's Senior Principal of Operations, said, "Our plan is to upgrade unit interiors with targeted improvements and enhance the property's exterior and community amenities, giving tenants a satisfying living experience at a competitively priced alternative to newer apartment communities."

Joe Ferguson, Bascom's Vice President of Acquisitions, added, "The pricing reset following the rise in interest rates has created multifamily opportunities across a broad range of markets and property vintages. Museum Park fits our strategy by combining newer construction with substantial value-add potential through renovations and operating improvements. Its Silicon Valley location makes the opportunity particularly compelling, as the region is one of the few markets in the country currently experiencing significant job and rent growth."

About Oberndorf Real Estate Management

San Francisco-based Oberndorf Real Estate Management, LP ("OBREM") was formed in 2012 and is led by Peter Oberndorf. OBREM is a privately held investment management firm focused on value-add and opportunistic real estate and real estate-related assets in the U.S. and Canada. The firm invests across asset types, geographies, and the capital structure, as risk/return dynamics shift, seeking undervalued, underperforming, and undercapitalized assets where value can be created through redevelopment, active asset management, operational improvements, and repositioning in fundamentally strong markets.

About The Bascom Group

The Bascom Group, LLC is a minority-owned private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom, founded by principals Derek Chen, Jerry Fink, and David Kim, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Since 1996, Bascom has completed over $23.0 billion in multifamily value-added transactions encompassing 368 multifamily properties and 94,272 units. Bascom's commercial transaction volume is $5.8 billion in total and amounts to over 23.4 million square feet. Bascom has ranked among the top 50 multifamily owners in the U.S. Bascom's subsidiaries and joint ventures include the Bascom Value Added Apartment Investors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Partners Ventures, Realm Group, Consolidated Real Estate Strategies, Meridian Bascom Ventures, and BG Pearce. Bascom's subsidiaries also include Premier Workspaces, one of the largest privately held executive suite, coworking and shared workspace companies in the U.S. For additional information, please visit bascomgroup.com.

Media Contact:

KWM Communications

Lisa Baker

[email protected]

603-868-1967

SOURCE Oberndorf Real Estate Management

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PMET Advances Shaakichiuwaanaan Development with more than 30,000 m 2026 Drill Program

Shaakichiuwaanaan 2026 drill program continues to achieve key objectives in addition to derisking important technical and geological aspects of the Project development.

MONTREAL, Oct. 20, 2026 /PRNewswire/ -- October 21 - Sydney, Australia

Highlights

- More than 30,000 m of drilling completed in over 250 holes as part of the Company's extensive 2026 drilling program at its 100%-owned Shaakichiuwaanaan Project.

- The program has strongly increased geological knowledge for the purpose of future mining operations in the key CV5 and CV13 resource areas.

- A total of seven (7) drill rigs are currently active at site. Drilling is anticipated to continue into November.

- Drilling has focused on:

- Supporting Project development ground condition assessment (including detailed engineering) – geotechnical, hydrogeological, geomechanical, and condemnation drilling at the CV5 and CV13 pegmatites and nearby proposed infrastructure areas. Drilling to date confirms the soundness of ground conditions for mine development plan purposes.

- Tightly spaced infill drilling at the CV5 Pegmatite targeting a caesium-enriched zone with the objective of defining a maiden caesium Mineral Resource Estimate at CV5 during 2027.

- Targeted infill drilling at CV5 and CV13 to improve geological interpretation with additional infill holes also expected to be completed at CV13 prior to completion of the program.

- Pollucite pegmatite sample collection (BerryPick program) via two dedicated shallow coring rigs.

- Infill along the CV4 to CV5 gap with barge mounted drill rig. Gap considered highly prospective for LCT pegmatite to be present.

- Assay results for the 2026 drill program expected in Q1 2027.

- Updated Project MRE and development studies remain on track for release in Q4 2026, including an updated CV5 lithium-tantalum Feasibility Study and a broader CV5-CV13 lithium-caesium-tantalum Preliminary Economic Assessment.

PMET Resources Inc. ("PMET" or the "Company") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on the extensive 2026 drill program being undertaken at its 100%-owned Shaakichiuwaanaan Property (the "Property" or "Project"), located in the Eeyou Istchee James Bay region of Quebec.

Since the commencement of drilling in June 2026, more than 30,000 m of drilling across more than 250 holes has been completed at the Property. The primary focus of the 2026 program has been to support advancement of the CV5 and CV13 pegmatites through development along the path to production. Specifically, drilling has focused on:

- Supporting project development (including detailed engineering) – geotechnical, hydrogeological, geomechanical and condemnation drilling – at the CV5 and CV13 pegmatites and nearby proposed infrastructure areas. This drilling is essential to collect information on soil stability, depth to bedrock, water quality, and bedrock geomechanical characteristics, to inform various modelling mandates as well as building and waste rock pile construction. This information is intended to feed into detailed engineering as well as permitting deliverables with a view to reducing execution risk.

- Infill drilling at the CV5 Pegmatite targeting a caesium zone within the open pit design from the 2025 Feasibility Study with the objective of defining a maiden caesium Mineral Resource Estimate ("MRE") at CV5 in late 2027. The presence of pollucite (caesium mineral) has been confirmed at CV5 through prior mineralogy and geological modelling, which has outlined several areas where continuous lenses may be present.

- Targeted infill drilling at CV5 and CV13 to improve geological interpretation. These drill holes are focused on improving the Company's geological models and testing alternative interpretations in certain areas.

- Pollucite pegmatite sample collection (BerryPick program) via two dedicated shallow coring rigs. At least 7 tons of sample material is estimated to have been collected which will be used for XRT1 ore-sorting testwork scheduled for early 2027.

- Infill along the CV4 to CV5 gap with barge mounted drill rig. This gap is considered highly prospective for LCT pegmatite to be present. Only a portion of this gap, via step-outs at both ends, is anticipated to be drill tested this program.

Additionally, multiple infill drill holes are scheduled to be completed at the CV13 Pegmatite prior to the end of the program. These holes will target an upgrade in resource classification in certain areas from Inferred to Indicated as well as supporting geological interpretation.

The drill program is scheduled to be completed in mid-November, with assay results expected through Q1 2027. The results from the 2026 program will be incorporated into the ongoing and future development studies for the Project as well as an updated MRE (MRE-6), anticipated for the second half of 2027.

An updated MRE for the Project (MRE-5, the fifth for the Project) will be announced shortly, which will underpin an updated Feasibility Study for lithium and tantalum at the CV5 Pegmatite and a Preliminary Economic Assessment for lithium, caesium, and tantalum for the broader Project (CV5 & CV13 Pegmatites), which remains on schedule to be announced before year-end.

About PMET Resources Inc.

PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and proximal to regional hydro-power infrastructure.

In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at 1.26% Li2O (Probable)2. The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation ("DMS") only process flowsheet. Further, the results highlight Shaakichiuwaanaan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and caesium in addition to lithium.

The Project hosts a Consolidated Mineral Resource3 totalling 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), and ranks as a top ten lithium pegmatite globally in size. Additionally, the Project hosts the world's largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred).

This news release has been approved by

"KEN BRINSDEN"

Kenneth Brinsden, President, CEO, & Managing Director

Olivier Caza-Lapointe

Head, Investor Relations

T: +1 (514) 913-5264

E: [email protected]

Qualified/Competent Person

The technical and scientific information in this news release that relates to the 2026 drilling program and the Mineral Resource Estimate for the Company's properties has been reviewed and approved by Mr. Remy Delporte, M. Sc., P. Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 02416). Mr. Delporte is a Project Geologist for PMET Resources Inc. and holds common shares and options in the Company. Mr. Delporte has verified and approved the technical data disclosed in this news release.

The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin has reviewed and approved the related technical information in this news release.

Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.

Disclaimer for Forward-Looking Information

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws.

All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words or expressions such as "anticipated", "pending", "will", "advancing", "future" and "potential", or variations of such words or expressions, and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.