Announcement • Sep 08

Magnes Rare Earths Reports First Reverse-Circulation Drilling Results and Additional Auger Assay Results At Minas Americas Project

Magnes Rare Earths, a wholly owned subsidiary of Verde AgriTech Ltd. reported additional head-grade rare earth assay results from 146 drill holes totalling 1,299 assayed metres at the Minas Americas Global Alliance project in Minas Gerais, Brazil. The results comprise 139 completed auger holes totalling 1,027 m and the first seven completed or reconciled reverse-circulation holes comprising 272 assayed metres. The new auger results are led by MAV_AD_0375, the highest-grade full-hole, from-surface interval reported at Minas Americas to date. The hole returned 15 m from surface to the end of hole averaging 11,480 parts per million total rare earth oxides, or 1.15% TREO, and 2,830 ppm magnetic rare earth oxides, comprising 2,752 ppm NdPr oxides and 79 ppm DyTb oxides. MREO represents 24.7% of TREO in the interval. Within the continuous 15 m profile, one metre from 12 m to 13 m returned 19,952 ppm TREO (2.00% TREO) and 5,909 ppm MREO. The first RC results add a new vertical dimension to the drill-derived dataset. Five of the seven holes returned 7–29 m intervals averaging 0.53%–0.77% TREO to EOH, including four intervals at least 15 m long. MAV_RC_0012 returned 29 m from 31 m to the 60 m EOH at 5,751 ppm TREO (0.58% TREO) and 1,346 ppm MREO. Two separate five-metre intervals at depths between 38 m and 51 m exceeded 0.90% TREO and 0.23% MREO: MAV_RC_0012 returned 5 m from 38 m to 43 m at 9,106 ppm TREO, 2,315 ppm MREO and 566 ppm heavy rare-earth oxides, including 100 ppm DyTb oxides; MAV_RC_0005 returned 5 m from 46 m to 51 m at 9,191 ppm TREO, 2,429 ppm MREO and 430 ppm HREO, including 91 ppm DyTb oxides. Fifteen metres at 1.15% TREO from surface establishes a new full-hole benchmark for the Project. Five of seven RC holes carry intervals grading between 0.53% and 0.77% TREO to their current depth limits, including 29 metres at 0.58% TREO to the bottom of a 60-metre hole. The heavy rare-earth component is also emerging in both shallow and deeper drilling, led by 5 metres at 566 ppm HREO—including 100 ppm dysprosium-plus-terbium oxides—in MAV_RC_0012. Rare-earth projects will ultimately be judged on recoverable magnet products, not head grade alone. The next value-defining work is to test beneath these current depth limits, connect the expanded dataset in three dimensions and determine recoveries from representative drill composites. With 443 holes and more than 3.6 kilometres of reported assays, Minas Americas now has a substantially stronger platform for that work and for the planned maiden mineral resource estimate. Prior to this release, Magnes had reported assay results from 297 auger holes totalling 2,329.8 m at Minas Americas. Incomplete holes and holes subject to an unresolved QA/QC hold are excluded from this release. Auger and RC samples were submitted to SGS Geosol Laboratórios S.A. in Vespasiano, Minas Gerais, Brazil, a third-party commercial laboratory external to Magnes and Verde. Analyses used lithium-borate fusion followed by ICP-MS/OES determination for rare earth and oxide analysis. Magnes’ quality assurance and quality control procedures include the regular insertion of blanks, certified reference materials and field duplicates into the sample stream. Laboratory repeat and duplicate analyses were performed by SGS. The Qualified Person verified the sampling, analytical and test data supporting this disclosure by reconciling drill-hole, interval, sample and batch identifiers between the field database and laboratory records; comparing analytical values, methods, units and qualifiers with the laboratory records; independently recalculating selected oxide totals and length-weighted composites; and reviewing the applicable blanks, certified reference materials, field duplicates and laboratory controls. No material discrepancies or limitations were identified during this verification. Based on the procedures performed and results obtained, the Qualified Person considers the underlying data reliable and suitable for disclosure of exploration results. QA/QC and control samples are excluded from public assay-result tables unless specifically discussed for QA/QC purposes. The scientific and technical information contained in this news release has been reviewed and approved by Carlos Leite, MAusIMM CP(Geo) (No. 1006695), an independent consultant to Magnes and a Qualified Person as defined by National Instrument 43-101 — Standards of Disclosure for Mineral Projects.

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