Agreement With Rio Tinto Unlocks Potential Development of BRE's Advanced High-Grade Bauxite-Gallium Project

SYDNEY, April 14, 2025 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) $(BRE.AU)$ is pleased to announce that it has entered into a binding agreement with Rio de Contas Desenvolvimentos Minerais Ltda. (Rio Tinto Brazil) to amend the Amargosa Tenement Acquisition Agreement.

Amargosa Bauxite Project

   -- Amargosa is an advanced stage, large-scale bauxite project acquired from 
      Rio Tinto in 2023, adjacent to select BRE rare earth tenements in Bahia, 
      Brazil 
 
   -- The large-scale bauxite project benefits from over 10 years of 
      exploration by Rio Tinto, including 56,919 metres of drilling across 
      4,257 holes and detailed geological data sets 
 
   -- Exploration to date has confirmed thick, high-grade bauxite zones from 
      surface, including intercepts such as 27.5 metres at 51.3% total 
      available alumina content with low levels of reactive silica and iron 
 
   -- BRE and Rio Tinto have signed a binding agreement to replace the existing 
      US$40m bauxite milestone payment at the Amargosa Bauxite Project with a 
      fixed US$1.00/wet tonne royalty on future bauxite sales 

High-Grade Gallium Discovery

   -- BRE has re-assayed 1,275 Rio Tinto bauxite samples collected at the 
      Pelé Bauxite Project 
 
   -- New, high-grade gallium discovery confirmed with exceptional grades of up 
      to 190 ppm Ga2O3, with a mean grade of 75 ppm Ga2O3 
 
   -- These assay results place Amargosa among the highest-grade undeveloped 
      gallium prospects globally, with the potential to deliver strategic 
      gallium supply amid ongoing geopolitical disruptions to 
      global gallium markets 

Amargosa Bauxite-Gallium Project Development

   -- Given the potential scale and quality of the bauxite-gallium prospects, 
      BRE will rapidly advance the Amargosa bauxite-gallium project, and has 
      engaged RPM Global to accelerate development activities for a 
      JORC-compliant Mineral Resource Estimate and Scoping Study 
 
   -- Amargosa is strategically positioned to supply seaborne bauxite and 
      gallium markets facing rising demand and geopolitical risks 

Brazilian Rare Earths' CEO and MD, Bernardo da Veiga, commented:

"Global bauxite and gallium markets are underpinned by compelling structural trends - strong demand, constrained supply, and rising geopolitical risks to supply chains.

We are focussed on advancing our world-class, high-grade rare earth province - and this successful restructuring of the Rio Tinto agreement enhances our strategic flexibility to create long-term value for shareholders."

A link to the full announcement can be found here.

Contacts

Bernardo Da Veiga, Managing Director and CEO

investors@brazilianrareearths.com

www.brazilianrareearths.com

(END) Dow Jones Newswires

April 14, 2025 08:30 ET (12:30 GMT)