Announcement • Sep 10

IMC Rare Earths Reports High-Grade Terbium Recoveries And Production Of Mixed Rare Earth Carbonate At Itarantim Project

IMC Rare Earths Ltd. announced results from laboratory-scale metallurgical testwork at its Itarantim ionic adsorption clay project in Brazil, including terbium recoveries of up to 95.2% together with the successful production of a mixed rare earth carbonate. The combination of high terbium grade and strong leachability is particularly significant, indicating rich rare earths and prime conditions for extraction. The Company believes these results place Itarantim among the highest-grade terbium-bearing ionic adsorption clay projects currently being evaluated globally. IMC is seeking to help meet that need through Itarantim, an ionic adsorption clay project in Brazil that hosts approximately 1,100,000,000 tonnes of Inferred Mineral Resource containing all four principal magnet rare earth elements: neodymium, praseodymium, dysprosium and terbium. The terbium findings are particularly high, measured at an average of 8 ppm terbium from material within a 105,800,000 tonne inferred domain. Dysprosium and terbium are among the scarcest and most highly sought-after elements, used in high-performance permanent magnets to help maintain strength at high temperatures. Testwork conducted with the Instituto Federal do Rio Grande do Norte and its EMBRAPII-affiliated CT Mineral laboratory returned strong leach recoveries for magnet rare earth elements, including dysprosium and terbium. In the best-performing composite tested, COMP C2, terbium recovery averaged 81.1% and reached as high as 95.2%. Recoveries across the four principal magnet rare earth elements included: NEODYMIUM (Nd2O3) 51.8% – 77.7%, average recovery 66.1%; PRASEODYMIUM (Pr6O11) 33.1% – 41.1%, average recovery 36.5%; DYSPROSIUM (Dy2O3) 31.3% – 55.6%, average recovery 46.1%; TERBIUM (Tb4O7) 56.6% – 95.2%, average recovery 81.1%. Building on the leach results, IMC also successfully produced a mixed rare earth carbonate using an optimized hydrometallurgical route. Mixed rare earth carbonate is an intermediate product that can be further processed to separate individual rare earth elements. For ionic adsorption clay mineralization, leachability is a key measure of how readily rare earth elements can be released from the clay into solution. The high terbium recoveries achieved in laboratory-scale results provide an important indicator of the characteristics of the Itarantim mineralization. IMC has engaged ANSTO Minerals to undertake further quantitative metallurgical work on material from Itarantim, building on the results announced. The next phase of testing is intended to further quantify recovery performance and the characteristics of the mixed rare earth carbonate, providing additional data as IMC evaluates the project’s potential development pathway. The CT Mineral leach recovery and MREC production testwork information in this announcement has been reviewed and approved by Alexandre Rocha da Rocha, Tenured Professor of Geology at the Federal Institute of Education, Science and Technology of Rio Grande do Norte (IFRN) (BSc in Geology, Universidade Federal do Rio Grande do Norte, 1986; MSc in Geosciences, UFRN, 1999), a Qualified Person as defined under Subpart 1300 of Regulation S-K. Prof. Rocha da Rocha is a distinguished Brazilian exploration geologist with over 40 years of mineral industry experience across Brazil and internationally. Widely recognized as a pioneer of ionic adsorption clay rare earth exploration in Brazil, he played a central role in discovering the country's first world-class deposits of this style, including the Rocha da Rocha Province in Bahia — which encompasses the Monte Alto deposit, together with Serra Verde's Pela Ema deposit in Goiás and Aclara's Carina Project in Nova Roma, Goiás, discoveries that helped establish Brazil as an emerging global source of critical rare earth elements. Prof. Rocha da Rocha has directed the testwork strategy and interpretation of results underpinning Itarantim's exceptional dysprosium and terbium leach performance. The ~1,100,000,000 tonne project Inferred Mineral Resource referenced in this announcement is classified entirely as Inferred. Inferred Mineral Resources are considered too speculative to have economic considerations applied and do not have demonstrated economic viability. There is no certainty that further exploration or drilling will result in the upgrading of any part of this Inferred Mineral Resource to an Indicated or Measured Mineral Resource.

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IMC Rare Earths Reports High-Grade Terbium Recoveries And Production Of Mixed Rare Earth Carbonate At Itarantim Project

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