UPDATE -- Brazilian Rare Earths December 2024 Quarterly Report

Rhea-AI Summary

Brazilian Rare Earths (ASX:BRE / OTCQX: BRELY) reported exceptional exploration results for Q4 2024 at its Monte Alto project. The company achieved record-breaking rare earth intercepts up to 45.7% TREO, with outstanding NdPr (69,558 ppm) and DyTb (11,696 ppm) grades. New record assays included niobium (1.7% Nb2O5) and tantalum (962 ppm Ta2O5).

Drilling extended high-grade, shallow monazite-sand mineralization, with intercepts of 18m at 6.8% TREO from surface. Airborne magnetics revealed potential for a larger mineralized system extending over 4km. Metallurgical testing achieved up to 94% TREO extraction under mild conditions, with chevkinite confirmed as the dominant mineral. The project contains 18 of 50 U.S. designated critical minerals at high grades.

The company secured permitting milestones with the approval of the Final Exploration Report for Monte Alto and 20 additional licenses covering 348 km² across the Rocha da Rocha Province.

Positive

• Record-breaking rare earth grades with up to 45.7% TREO
• Successful metallurgical testing with 94% TREO extraction rate
• Expansion of mineralized system to over 4km
• Approval of Final Exploration Report for Monte Alto and additional 348 km² of licenses
• Project contains 18 of 50 U.S. designated critical minerals

Negative

• None.

News Market Reaction

-42.59%

1 alert

-42.59% News Effect

On the day this news was published, BRELY declined 42.59%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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

investors@brazilianrareearths.com
www.brazilianrareearths.com

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

FAQ

What were the record rare earth grades reported by BRELY in Q4 2024?

BRELY reported ultra-high-grade rare earth intercepts up to 45.7% TREO, with NdPr grades of 69,558 ppm and DyTb grades of 11,696 ppm at Monte Alto.

What metallurgical recovery rates did BRELY achieve at Monte Alto?

BRELY achieved up to 94% TREO extraction rates under mild acid and atmospheric leach conditions on non-beneficiated 'run-of-mine' chevkinite material.

How many critical minerals did BRELY identify at Monte Alto?

BRELY identified 18 of the 50 U.S. designated critical minerals at high grades at Monte Alto.

What was the size of the new license area approved for BRELY in Q4 2024?

BRELY received approval for Final Exploration Reports covering 348 km² across the Rocha da Rocha Province, including Monte Alto and 20 additional licenses.

What were the shallow mineralization results from BRELY's Monte Alto drilling?

Drilling revealed high-grade, shallow monazite-sand mineralization with intercepts of 18m at 6.8% TREO from surface.