Geomega and Rio Tinto Sign a Joint Development Agreement and Demo License on Bauxite Residue Valorization Technology

Rhea-AI Summary

Geomega (OTCQB: GOMRF) announced a Joint Development Agreement with Rio Tinto dated September 19, 2025 to advance Geomega's Bauxite Residue Valorization Technology. The JDA includes Rio Tinto purchasing a demonstration license for Circuit 1 and 2, engineering studies and supporting test work using Rio Tinto bauxite residue feeds.

Cash terms: $1,400,000 expected in 2025, $100,000 in early 2026 and up to $3,000,000 of additional payments if Rio Tinto proceeds to build a demonstration plant, for total consideration of up to $4,500,000. Geomega retains ownership of background and foreground IP.

Positive

• Signed JDA with Rio Tinto dated Sept 19, 2025
• Up to $4.5M in payments including $1.4M in 2025
• Demonstration license purchased for Circuit 1 and 2
• Geomega retains ownership of all background and foreground IP
• Scope includes engineering studies and global feed testing

Negative

• Additional $3.0M contingent on Rio Tinto deciding to build demo plant
• Outcome depends on successful engineering studies and test work
• No firm commercial licensing revenue nor construction commitment yet

Montreal, Quebec--(Newsfile Corp. - October 8, 2025) - Geomega Resources Inc. (TSXV: GMA) (OTCQB: GOMRF) ("Geomega" or the "Corporation") is pleased to announce that on September 19, 2025 its wholly owned subsidiary, Innord Inc. ("Innord"), has entered into a Joint Development Agreement (the "JDA") with Rio Tinto in connection with Geomega's Bauxite Residue Valorization Technology (the "Technology"). The JDA includes Rio Tinto purchasing a demonstration license for Circuit 1 and 2 of the Technology and covers engineering studies, that if successful, could potentially lead to the construction of a demonstration plant in Saguenay, Quebec.

As per the JDA, Geomega expects to receive payments totaling $1,400,000 in 2025, $100,000 in early 2026 and then $3,000,000 of potential additional payments, if Rio Tinto decides to move forward with the construction of the demonstration plant, for a total of up to $4,500,000.

The Technology could potentially allow Rio Tinto to improve the environmental footprint of alumina refining by reducing the amount of bauxite residue stored while allowing the extraction of direct reduced iron (DRI) grade ore and some critical and strategic minerals, such as rare earth element (REE) concentrate and titanium concentrate. Geomega will provide the basic engineering package and will then provide certain engineering support during the execution of this project. Geomega will also carry supporting test work to demonstrate process flexibility and robustness using various bauxite residue feeds from Rio Tinto operations around the world. Geomega will retain ownership of all background and foreground intellectual property related to the Technology.

"Rio Tinto has been involved with our Corporation since the very beginning of this project. Their consistent backing at every stage, from bench scale to piloting and now demonstration, underscores the enduring potential of our technology. We are excited to take this major step forward with Rio Tinto to demonstrate the potential of our Bauxite Residue Valorization Technology at a larger scale with potential on-site implementation. This is a major step for Geomega towards commercial licensing of our Technology and executing on our vision of becoming a leading technology royalties company with focus on critical and bulk metals extraction. Importantly, this partnership highlights the growing demand for sustainable solutions in managing industrial and mining residues. In addition to the environmental benefit, recovering valuable critical and strategic minerals develops a reliable and sustainable local supply chain.

By working with one of the world's leading aluminium producers, we have the opportunity to demonstrate the robustness of our process and pave the way toward commercial deployment in Quebec, Canada and then globally. In addition, this project saw significant support along the way from the Quebec and Federal governments which both continue to demonstrate their dedication to supporting Canadian innovation. With this favorable R&D environment, Quebec and Canada could become a global leader in developing sustainable technologies that support the critical minerals supply chain and the green economy." commented Kiril Mugerman, President and CEO of Geomega.

"For four years, Geomega and Rio Tinto's research, engineering and technical teams have been working together to validate Geomega's bauxite residue valorization technology, as part of our ongoing efforts to reduce the environmental footprint of alumina refining. This new joint development agreement sets out a clear path to demonstrate to what extent Geomega's technology can contribute to address one of the global aluminium industry's greatest challenges, with the added benefit of creating potential new sources of critical and strategic minerals here in Canada" said Josette Ross, General Manager of Rio Tinto Aluminium's Arvida Research and Development Center.

About Geomega (www.geomega.ca)

Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. Geomega works with various feed streams to apply its technologies to waste valorization. This includes NdFeB magnet recycling, bauxite residue and sulphide tailings processing. Geomega's strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in their respective industries.

As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process.

Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America and holds over 16.8M shares of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is exploring for copper and gold projects in Quebec, Canada.

For further information, please contact:

Kiril Mugerman
President and CEO
Geomega
514-223-1449 ext. 3
kmugerman@geomega.ca

Nancy Thompson
Vorticom Public Relations
212-532-2208
nancyt@vorticom.com
X: @Geomega_REE

Cautions Regarding Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" "target" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's annual management's discussion and analysis for the fiscal year ended May 31, 2025, which is available on SEDAR+ at www.sedarplus.ca; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269636

FAQ

What did Geomega (GOMRF) and Rio Tinto agree on September 19, 2025?

They signed a Joint Development Agreement covering a demonstration license for Circuit 1 and 2 plus engineering studies and testing.

How much will Geomega (GOMRF) receive from the Rio Tinto JDA and when?

Geomega expects $1,400,000 in 2025, $100,000 in early 2026, and up to $3,000,000 more if a demo plant is approved (total up to $4.5M).

Does Geomega (GOMRF) keep intellectual property rights under the Rio Tinto agreement?

Yes; Geomega will retain ownership of all background and foreground intellectual property related to the Technology.

What will the JDA with Rio Tinto test with bauxite residue?

Geomega will conduct supporting test work to demonstrate process flexibility and robustness using various Rio Tinto bauxite residue feeds.

Could the JDA lead to a demonstration plant in Quebec for GOMRF technology?

Yes; engineering studies could lead to construction of a demonstration plant in Saguenay, Quebec if Rio Tinto decides to proceed.