Locksley Receives Up to US$191 Million Potential Support from EXIM for U.S. Critical Minerals Push

Rhea-AI Summary

Locksley Resources (OTCQX: LKYRF) received a Letter of Interest from EXIM dated Nov 3, 2025 outlining intent to provide up to US$191 million in potential project financing for the Mojave Project in California.

The LOI supports due diligence and underwriting toward a formal financing package while the company advances upstream mine development, downstream modular refining with Rice University collaboration, and production of a 100% American made antimony ingot. EXIM programs cited prioritize critical minerals that reduce foreign supply dependence and support U.S. national security.

Positive

• Up to US$191M potential EXIM project financing
• 100% American made antimony ingot now produced
• Collaboration with Rice University Deep Solve on downstream processing
• Mojave targets antimony and REEs with mine-to-market strategy

Negative

• LOI expresses intent and is non-binding pending due diligence and underwriting
• Financing remains subject to EXIM approval and final terms, timing uncertain

News Market Reaction

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+28.87% News Effect

On the day this news was published, LKYRF gained 28.87%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SAN BERNARDINO, Calif., Nov. 3, 2025 /PRNewswire/ -- Locksley Resources Limited (ASX: LKY, OTCQX: LKYRF) announced the receipt of a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) outlining the intent to provide up to US$191 million in potential project financing support for the Company's Mojave Project in California. EXIM, a wholly owned independent agency of the U.S. Government, operates under a Congressional mandate to promote American economic and national security interests through project and export financing. Its recent Supply Chain Resiliency Initiative and China and Transformational Exports Program prioritize funding for critical mineral projects that reduce foreign supply dependence and rebuild U.S. industrial capability. Additional details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03017919-6A1295024&v=undefined.

"This LOI represents a cornerstone in Locksley's engagement with U.S. federal agencies and paves the way for detailed due diligence and underwriting to advance a comprehensive financing package for the Mojave Project," said Kerrie Matthews, Managing Director and CEO of Locksley. She added that the LOI provides a foundation to progress formal financing discussions while advancing the Company's downstream and offtake plans. "With our 100% American made antimony ingot now produced, we are demonstrating Locksley's capacity to deliver the next generation of U.S. critical minerals for supply chains."

Locksley continues to accelerate development and shorten the traditional mining project timeline via government support across parallel workstreams. Upstream the company has fast-tracked development of the Desert Antimony Mine through both conventional and non-traditional methods, enabling near-term ore supply. Downstream the company is collaborating with Rice University's Deep Solve™ program and modular processing options to establish U.S. refining capacity at speed. And, by focusing on direct alignment with U.S. defense, energy transition and industrial partners to deliver 100% Made in America antimony, the company is establishing an integrated supply chain. This multiple track approach positions Mojave as one of the fastest moving U.S. antimony developments, directly supporting U.S. national security and clean energy priorities.

Drew Horn, a former White House Advisor on Critical Minerals and Chief Executive of GreenMet, which serves as consultants to Locksley said, "EXIM's Letter of Interest represents more than just financial support. It reflects a coordinated U.S. government directive to rebuild domestic critical minerals capability. We are now entering a period where nearly all federal funding in this sector is being directed under White House led initiatives and Locksley is benefitting from this effort."

Locksley Resources (https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This integrated approach combined resource development with innovative processing and separation technologies, positions Locksley to play a key role in advancing U.S. critical minerals independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793

View original content:https://www.prnewswire.com/news-releases/locksley-receives-up-to-us191-million-potential-support-from-exim-for-us-critical-minerals-push-302602203.html

SOURCE Locksley Resources

FAQ

What amount of financing did EXIM indicate for Locksley (OTCQX: LKYRF) on Nov 3, 2025?

EXIM issued a Letter of Interest outlining up to US$191 million of potential project financing.

Does the EXIM Letter of Interest for LKYRF guarantee funding for the Mojave Project?

No; the LOI outlines intent and requires due diligence and underwriting before any final EXIM commitment.

What product has Locksley produced that supports its US supply chain claim?

Locksley reports it has produced a 100% American made antimony ingot.

How is Locksley progressing downstream refining for the Mojave Project?

Locksley is collaborating with Rice University Deep Solve and modular processing options to establish U.S. refining capacity.

Which minerals does the Mojave Project target under LKYRF’s plan?

The Mojave Project targets antimony and rare earth elements (REEs).