Atlas Critical Minerals Announces High Metallurgical Recoveries from Rare Earths Project

Rhea-AI Summary

Atlas Critical Minerals (NASDAQ: ATCX) reported high metallurgical recoveries from initial testwork on a 50 kg composite from its 100%‑owned Alto do Paranaíba Project in Minas Gerais, Brazil on January 26, 2026. Roasted + acid leach (Leach 2) returned 97.0% MREE, 95.2% LREE, 93.8% TREY, and 83.9% HREE extraction. Testing also concentrated TiO2 in the leach residue from 13.4% to 26.0%, with 97% of Ti reporting to residue. Initial auger drilling (13 holes, 144 m) and surface sampling showed near‑surface high grades, including 6m @ 7,729 ppm TREO and a surface sample of 28,870 ppm TREO.

Work was completed by SGS Canada under direction of a Qualified Person in accordance with Item 1300 of Regulation S‑K.

Positive

• Roasted leach achieved 97.0% MREE extraction
• Roasted leach achieved 93.8% TREY extraction
• TiO2 concentrated from 13.4% to 26.0% in leach residue
• Initial drilling intercepted 6m @ 7,729 ppm TREO
• Surface sampling returned a peak of 28,870 ppm TREO

Negative

• HREE extraction was lower at 83.9% versus other REE groups
• Metallurgical tests used a single 50 kg composite from Block 1
• Initial drilling campaign was limited to 13 holes totaling 144 m

News Market Reaction

-23.95% 2.2x vol

38 alerts

-23.95% News Effect

-33.9% Trough in 7 hr 58 min

-$22M Valuation Impact

$70M Market Cap

2.2x Rel. Volume

On the day this news was published, ATCX declined 23.95%, reflecting a significant negative market reaction. Argus tracked a trough of -33.9% from its starting point during tracking. Our momentum scanner triggered 38 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $22M from the company's valuation, bringing the market cap to $70M at that time. Trading volume was elevated at 2.2x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

MREE extraction (Leach 2): 97.0% TREY extraction (Leach 2): 93.8% LREE extraction (Leach 2): 95.2% +5 more

8 metrics

MREE extraction (Leach 2) 97.0% Magnetic rare earths elements, roasted nitric acid leach

TREY extraction (Leach 2) 93.8% Total rare earths elements plus yttrium, roasted leach

LREE extraction (Leach 2) 95.2% Light rare earths elements, roasted leach

HREE extraction (Leach 2) 83.9% Heavy rare earths elements, roasted leach

TiO2 upgrade 13.4% to 26.0% Titanium dioxide grade in leach residue

Composite sample size 50 kg Representative composite from Block 1 properties

Drilling program 13 holes / 144 m Initial auger drilling across several project areas

Top surface TREO grade 28,870 ppm TREO Surface sample STG-000014 at Alto do Paranaíba

Market Reality Check

Price: $6.11 Vol: Volume 308,730 is 50% abo...

normal vol

$6.11 Last Close

Volume Volume 308,730 is 50% above the 20-day average of 205,567. normal

Technical Price $12.36 is trading above the 200-day MA at $8.29 and within 8.65% of the 52-week high.

Historical Context

3 past events · Latest: Jan 13 (Positive)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	Nasdaq listing	Positive	-3.4%	Commenced trading on Nasdaq with expanded U.S. market access.
Jan 12	Equity offering close	Neutral	+0.3%	Closed upsized public offering and full over‑allotment exercise.
Jan 08	Offering pricing	Neutral	-28.2%	Priced upsized public offering and announced Nasdaq uplisting.

Pattern Detected

Early trading history shows mixed reactions: a sharp selloff on the upsized offering and modest pressure on the Nasdaq debut, despite largely expansionary corporate milestones.

Recent Company History

Over recent weeks, Atlas Critical Minerals completed an upsized public offering at $8.00 per share and uplisted to the Nasdaq, raising gross proceeds of about $11.0 million to fund its Brazil critical minerals portfolio. The stock saw a -28.16% move on the offering pricing news and a -3.4% reaction on the Nasdaq commencement. Today’s metallurgical and drilling results for Alto do Paranaíba build directly on those earlier technical highlights disclosed around the listing.

Market Pulse Summary

The stock dropped -23.9% in the session following this news. A negative reaction despite today’s str...

Analysis

The stock dropped -23.9% in the session following this news. A negative reaction despite today’s strong metallurgical and grade results would have contrasted with the objectively high recoveries and near-surface mineralization highlighted, such as 97.0% MREE extraction and surface TREO up to 28,870 ppm. Historically, financing and listing news triggered sharp moves, including a -28.16% reaction to an upsized offering. Any sustained weakness around technical milestones could reflect market focus on execution, capital needs, or prior dilution rather than the project data itself.

Key Terms

metallurgical recoveries, rare earths elements, titanium dioxide, nitric acid, +4 more

8 terms

metallurgical recoveries technical

"pleased to announce high metallurgical recoveries from initial testwork"

Metallurgical recoveries are the percentage of a target metal that is successfully extracted from mined ore during processing and ends up in the final concentrate or product. Higher recoveries mean more saleable metal from the same amount of ore — like squeezing more juice from the same fruit — so they directly affect a mine’s revenue, unit costs and profitability, and are a key metric investors use to judge a project’s economic strength.

rare earths elements technical

"for extracting rare earths elements ("REE") into leach solution"

Rare earth elements are a group of 17 metallic minerals used in tiny amounts inside many modern technologies—like magnets in wind turbines, batteries, smartphones, and electric motors—so they act like specialized spices in a recipe that make high-tech products work. Investors track them because supply is limited and concentrated in a few places, so shifts in mining, trade or regulation can quickly change costs, company margins and industry growth prospects.

titanium dioxide technical

"97% of the titanium dioxide (TiO₂) reported to the leach residue"

A fine, white inorganic powder used as the main pigment to make paints, coatings, plastics, paper, cosmetics and sunscreens look bright and opaque — think of it as the “flour” that gives products their color and hiding power. Investors watch titanium dioxide because it is a widely used commodity chemical whose price and availability track construction, automotive and consumer demand, and because production and health or environmental rules can create supply disruptions and regulatory risk that affect company profits.

nitric acid technical

"Two sighter leach tests using nitric acid (HNO₃) were completed"

A strong, corrosive chemical (HNO3) used to make fertilizers, explosives, dyes and many industrial chemicals; think of it as a staple ingredient in large-scale manufacturing similar to how flour is essential for baking. It matters to investors because its price, availability and safety rules affect costs, production capacity and regulatory risk for chemical, fertilizer and mining companies, so shifts in supply or regulation can change profit margins and project timelines.

ppm technical

"12m @ 5,961 ppm Total Rare Earths Oxides (TREO)"

Parts per million (ppm) is a unit that expresses how many units of a substance exist in one million units of a mixture or material — imagine one drop of dye spread through an Olympic-sized pool to picture a very small concentration. Investors watch ppm readings because regulatory limits, product contamination, pollutant emissions or chemical residues often use this scale; small numeric changes can mean compliance problems, remediation costs, production shutdowns or reputational risk that affect a company’s value.

total rare earths oxides technical

"5,961 ppm Total Rare Earths Oxides (TREO)"

Total rare earths oxides (TREO) is the combined amount of the chemical oxides of all rare earth elements in a rock, ore or product, reported as a single percentage or weight. Think of it like the total sugar content listed for a fruit mix: higher TREO means more of the valuable ingredients are present and easier to extract. Investors use TREO to compare resource quality, estimate processing costs and predict how profitable or strategically important a deposit or supplier will be for technologies that rely on rare earths.

magnetic rare earths oxides technical

"1,690 ppm Magnetic Rare Earths Oxides (MREO)"

Magnetic rare earths oxides are chemical compounds made from rare earth elements (like neodymium, samarium or dysprosium) combined with oxygen that form the magnetic ingredients used in powerful permanent magnets. Think of them as the concentrated metal “recipe” that gives small magnets the strength to turn electric motors or store data; their supply, cost and availability matter to investors because they affect production costs, technology adoption and geopolitical supply risks across industries such as EVs, wind power and electronics.

regulation s-k regulatory

"Qualified Person under Item 1300 of Regulation S-K from Altilium Group"

A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.

AI-generated analysis. Not financial advice.

Initial Tests Achieve Up To 97% Recovery for Magnetic Rare Earths Elements

Belo Horizonte, Brazil--(Newsfile Corp. - January 26, 2026) - Atlas Critical Minerals Corporation (NASDAQ: ATCX) ("Atlas Critical Minerals" or "Company"), a company focused on critical minerals for energy, technology, and defense applications, is pleased to announce high metallurgical recoveries from initial testwork on samples from its 100%-owned Alto do Paranaíba Project ("Project") in Minas Gerais state, Brazil. The testwork was conducted to evaluate the effectiveness of the Altilium Ti/REE Process™ (pat. pend.) for extracting rare earths elements ("REE") into leach solution and upgrading titanium ("Ti") into leach residue. Testing was directed by a Qualified Person under Item 1300 of Regulation S-K from Altilium Group Limited. Results demonstrated exceptional REE extraction rates, indicating strong potential amenability for commercial processing.

• Outstanding Rare Earths Extraction: Leaching achieved 97.0% extraction for Magnetic Rare Earths Elements (MREE), 95.2% for Light Rare Earths Elements (LREE), 93.8% for Total Rare Earths Elements plus Yttrium (TREY), and 83.9% for Heavy Rare Earths Elements (HREE);

• Titanium Concentration Upgrade: 97% of the titanium dioxide (TiO₂) reported to the leach residue, concentrating from 13.4% to 26.0%, indicating potential for titanium by-product enrichment; and

• Amenable Mineralization: The Project's mineralization responded strongly to leaching, supporting the potential feasibility of processing the Project's ores for commercial rare earths recovery with titanium recovery as a byproduct.

Metallurgical Extraction Results

A 50 kg composite, considered representative of the mineralization of the Project's Block 1 properties, was processed at the Lakefield, Canada, analytical laboratory of SGS Canada Inc. ("SGS"), a premier mineral evaluation company. Head samples were air-dried, milled to 100% passing 0.5 mm, and subjected to chemical and mineralogical characterization. Two sighter leach tests using nitric acid (HNO₃) were completed:

• Leach 1: Direct acid leach on the as-milled sample.
• Leach 2: Thermal pre-treatment (roasting) followed by acid leach.

Element suites assayed included Al, Ca, Co, Cr, Fe, Ga, Mg, Mn, Ni, S, Sc, Si, Ti, and rare earths elements.

The following table summarizes the rare earths extraction rates achieved:

TEST	TREY (%)	LREE (%)	MREE (%)	HREE (%)
Leach 1 (Direct)	57.7	57.1	62.1	63.4
Leach 2 (Roasted)	93.8	95.2	97.0	83.9

 

As observed from the table. Leach 2 delivered near-complete extraction of magnetic rare earths elements and strong recoveries across all rare earths groupings.

"These highly encouraging metallurgical results represent a significant step forward for our Alto do Paranaíba Project," stated Marc Fogassa, Chairman and CEO of Atlas Critical Minerals. "Achieving 97% extraction of magnetic rare earths elements is an important milestone. We believe our results to date indicate that the mineralization is amenable to processing, a key factor for the Project's economic potential."

Initial Drilling Campaign Results

An initial auger drilling program across several Project areas comprised 13 holes totaling 144 meters. A total of 178 samples were analyzed, including approximately 22% QA/QC control samples. Drilling intercepted near-surface, high-grade mineralization, including the following highlights:

• DHTI-001: 12m @ 5,961 ppm Total Rare Earths Oxides (TREO); 1,690 ppm Magnetic Rare Earths Oxides (MREO); 13.3% TiO₂
• DHTI-002: 6m @ 7,729 ppm TREO; 2,680 ppm MREO; 12.5% TiO₂
• DHTI-003: 3m @ 4,713 ppm TREO; 1,311 ppm MREO; 12.9% TiO₂
• DHCA-00001: 4.3m @ 4,706 ppm TREO; 1,124 ppm MREO; 15.1% TiO₂
• DHCA-00002: 7m @ 3,442 ppm TREO; 821 ppm MREO; 15.9% TiO₂
• DHCA-00003: 6m @ 3,396 ppm TREO; 812 ppm MREO; 11.2% TiO₂
• DHPM-00002: 6m @ 3,007 ppm TREO; 682 ppm MREO; 14.0% TiO₂
• DHPM-00003: 5m @ 3,129 ppm TREO; 716 ppm MREO; 13.0% TiO₂
• DHLF-00001: 6m @ 3,275 ppm TREO; 754 ppm MREO; 13.8% TiO₂

Surface Sampling Highlights

Surface sampling results from across the Project area demonstrated consistently high grades, including the following highlights:

• 28,870 ppm TREO; 7,493 ppm MREO; 16.5% TiO₂ (Sample STG-000014)
• 16,152 ppm TREO; 3,915 ppm MREO; 6.1% TiO₂ (Sample ATI-089)
• 6,405 ppm TREO; 1,643 ppm MREO; 18.6% TiO₂ (Sample SPJ-00008)
• 5,142 ppm TREO; 1,089 ppm MREO; 23.2% TiO₂ (Sample SVV-00003)

About Atlas Critical Minerals Corporation

Atlas Critical Minerals Corporation (NASDAQ: ATCX) is an exploration and development company focused on critical minerals, including rare earths, graphite, and uranium. The Company's focus is to build a diversified global supply chain for the strategic minerals essential for the artificial intelligence revolution, energy transformation, and defense uses. More information is available at www.atlascriticalminerals.com and in the Company's filings with the U.S. Securities and Exchange Commission.

About Altilium Group

Altilium Group is a global industrial technology company, focused on clean, zero-waste, critical mineral extraction processes, supporting the industrial & energy revolution, and the transition to a circular economy. The Group multiple patented hydrometallurgical flowsheets specialize in the recovery of critical minerals, including Al, Fe, Li, Ni, Co, Ti, Mn and REEs, from a variety of ores, in addition to mining process residues, untapping access to previously inaccessible valuable resources, while providing environmental solutions.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Critical Minerals and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Therefore, you should not place undue reliance on these forward-looking statements.

Risks related to the Company and its subsidiaries are discussed in the section entitled "Risk Factors" in the Company's Form 20-F filed with the Securities and Exchange Commission (the "SEC") on February 28, 2025. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Investor Relations 
Brian W. Bernier
Vice President, Investor Relations
+1 (833) 661-7900
brian.bernier@atlas-cm.com
https://www.atlascriticalminerals.com/
@Atlas_Crit_Min

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281518

FAQ

What metallurgical recoveries did Atlas Critical Minerals (ATCX) report on January 26, 2026?

Roasted + acid leach reported 97.0% MREE, 95.2% LREE, 93.8% TREY, and 83.9% HREE extraction.

How did Atlas (ATCX) test titanium recovery at Alto do Paranaíba?

Testing concentrated TiO2 in the leach residue from 13.4% to 26.0%, with 97% of Ti reporting to residue.

What drilling results did Atlas (ATCX) report from the initial auger program?

The initial auger program comprised 13 holes (144 m), including 6m @ 7,729 ppm TREO in DHTI‑002.

Were the metallurgical tests independently conducted for Atlas (ATCX)?

Yes. Testwork was completed at SGS Canada and directed by a Qualified Person under Item 1300 of Regulation S‑K.

What is the highest surface TREO grade reported by Atlas (ATCX) at Alto do Paranaíba?

A surface sample returned 28,870 ppm TREO (Sample STG‑000014).