UPDATE — Brazilian Rare Earths December 2024 Quarterly Report

Monte Alto deposit

SYDNEY, Jan. 29, 2025 (GLOBE NEWSWIRE) — Brazilian Rare Earths Limited (ASX:BRE / OTCQX: BRELY) (‘BRE’) is pleased to provide its quarterly report for the period ended 31 December 2024. Key highlights during and subsequent to the end of the quarter included:

Record Exploration Success Continues at Monte Alto

• Ultra-high-grade rare earth intercepts up to 45.7% TREO, with standout grades of NdPr (69,558 ppm) and DyTb (11,696 ppm)
• New record assays for niobium (1.7% Nb₂O₅) and tantalum (962 ppm Ta₂O₅) with very-high grades of scandium (382 ppm Sc₂O₃) and uranium (5,781 ppm U₃O₈)
• Exploration increased the continuity, depth and scale of the ultra-high-grade REE-Nb-Sc-Ta-U mineralised envelope, that remains open along strike and at depth
• Drilling extended the large horizons of high-grade, shallow monazite-sand mineralisation, including intercepts of 18m at 6.8% TREO from surface

District-Scale Growth Potential at Monte Alto

• Airborne magnetics revealed the potential for a larger, interconnected high-grade mineralised system extending over 4 km beyond the maiden Monte Alto deposit
• Multiple new regional discoveries, including high-grade rare earth outcrops of up to 14.6% TREO, rich in heavy rare earth elements dysprosium (5,691 ppm), terbium (737 ppm) and yttrium (74,543 ppm)

Outstanding Mineralogy and Metallurgy Results

• Chevkinite confirmed as the dominant mineral in the REE-Nb-Sc-Ta-U mineralisation, hosting exceptional grades of rare earths, niobium, tantalum, scandium and uranium
• Metallurgical test work on non-beneficiated ‘run-of-mine’ chevkinite achieved up to 94% TREO ‘extraction’ under mild acid and atmospheric leach conditions

Strategic Critical Minerals Portfolio

• High-grade tantalum (up to 880 ppm) added to rare earths, niobium, scandium, and uranium endowment
• Monte Alto has 18 of the 50 U.S. designated ‘critical minerals’ at high grades

Permitting Milestone

• Permitting progressed with approval of the Final Exploration Report for Monte Alto
• Final Exploration Reports for 20 additional licences (324 km²) across the Rocha da Rocha Province, for a combined total of 348 km²

The detailed quarterly report can be found here.

Contacts

Bernardo Da Veiga, Managing Director and CEO

[email protected]
www.brazilianrareearths.com

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f65a599-ccac-49e9-90a0-76ea04566335