CoTec Holdings (TSXV:CTH)

CoTec Investment Mkango and Hypromag Announces First Production from Commercial-Scale Recycled Rare Earth Alloy Production in the UK

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note that Mkango Resources Ltd. (AIM/TSX-V:MKA) ("Mkango") and HyProMag Limited ("HyProMag") have announced first production runs of recycled rare earth alloy from the commercial-scale Hydrogen Processing of Magnet Scrap ("HPMS") vessel at Tyseley Energy Park ("TEP") in Birmingham, UK.

This marks the first commercial-scale production of recycled neodymium-iron-boron (NdFeB) alloy using HPMS technology and represents a significant milestone for all stakeholders involved. The TEP plant is the UK's only sintered rare earth magnet manufacturing facility and is a major step forward for both domestic and global rare earth supply chains.

Julian Treger, Chief Executive Officer of CoTec, commented: "We are delighted to see Mkango and HyProMag achieving this significant milestone, and we extend our congratulations to all involved, including the teams at the University of Birmingham and Tyseley Energy Park. This first production of recycled rare earth alloy is a critical step in validating HPMS technology at scale and sends a powerful signal for what is to come in the United States. The successful start-up at Tyseley bodes very well for our HyProMag USA joint venture, as we continue advancing detailed engineering and move toward building a secure, domestic rare earth magnet supply chain in North America."

HyProMag USA is a 50:50 joint venture between CoTec and HyProMag (a 100% subsidiary of Maginito Limited, which is 79.4% owned by Mkango and 20.6% by CoTec). The joint venture is currently developing its first integrated rare earth magnet recycling and manufacturing facility in the Dallas-Fort Worth region, targeting commissioning in 2027.

About CoTec

CoTec Holdings Corp. is a publicly traded investment issuer listed on the TSX Venture Exchange and OTCQB under the symbols CTH and CTHCF, respectively. CoTec is a forward-thinking resource extraction company committed to transforming the global metals and minerals industry through environmentally sustainable technologies and strategic asset acquisitions.

With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach:

  • Investing in disruptive mineral extraction technologies that enhance efficiency and sustainability, and
  • Applying these technologies to undervalued mining assets to unlock their full potential.

By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's model enables low capital requirements, rapid revenue generation, and high barriers to entry - positioning it as a leading mid-tier disruptor in the commodities sector.

Please visit www.cotec.ca.

For further information, please contact:

Braam Jonker - (604) 992-5600

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments that are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to the expected development and outcomes of first production runs by HyProMag Limited and its potential impact on the HyProMag USA project and other current or potential investments. Since forward-looking statements address future events and conditions, by their nature they involve inherent risks and uncertainties. Actual results could differ materially due to known and unknown risks and uncertainties affecting the Company, including but not limited to: resource and reserve risks; environmental risks and costs; labor costs and shortages; supply and price fluctuations in materials; increases in energy costs; contractor and subcontractor performance; project delays and cost overruns; extreme weather; and geopolitical or social disruptions.

For further details, refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, available under the Company's profile at www.sedarplus.ca. The Company assumes no responsibility to update forward-looking statements, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements and are encouraged to consult the Company's continuous disclosure documents.

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

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HyProMag USA Enters Into Agreement with Global Electronics Recycler, Intelligent Lifecycle Solutions, for Feedstock Supply and Pre-Processing Site Share in South Carolina and Nevada

 CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec") and Mkango Resources Ltd. (AIM:MKA)(TSXV:MKA) ("Mkango") are pleased to announce a feedstock supply and pre-processing site share agreement between global electronics recycling company, Intelligent Lifecycle Solutions, LLC ("ILS"), and HyProMag USA, LLC ("HyProMag USA" or the "Project") (the "Supply Agreement").

  • ILS will secure and store neodymium iron boron ("NdFeB") feedstock from hard disk drives ("HDDs") and other sources for HyProMag USA at the ILS pre-processing sites in Williston, South Carolina and Reno, Nevada (the "ILS pre-processing sites") in advance of the commissioning of HyProMag USA's advanced stage rare earth magnet recycling and manufacturing plant to be located in Dallas-Fort Worth, Texas (the "DFW Hub")
  • ILS will utilise the INSERMA ANOIA SL ("Inserma") "3rd generation" HDD magnet separation system at its pre-processing sites. An exclusive agreement was signed between the HyProMag Group and Inserma in September 2024[i], and the Inserma technology is being rolled out across multiple jurisdictions
  • The improved Inserma units provide fast, efficient magnet separation from HDDs for Hydrogen Processing of Magnet Scrap ("HPMS") processing together with clean separation of the printed circuit board for immediate resale to 3rd parties
  • HyProMag USA is, inter alia, targeting HDD recycling geared to the growth of hyperscale data centers, which is expected to accelerate significantly in coming years
  • HyProMag USA will include the ILS pre-processing sites in its detailed design and engineering. The ILS pre-processing sites will be able to source multiple feed types to provide supply feed to the Project's magnet recycling and manufacturing hub in Dallas-Fort Worth. Other NdFeB feedstock sources being successfully processed to date by HyProMag include rotors from electric motors, wind turbine magnets, speaker assemblies and MRIs
  • The Supply Agreement is expected to be the first in several supply agreements to be entered into by HyProMag USA as the Project advances to construction and commissioning

ILS is a global electronics recycling company processing electronic waste. It is a full-service IT asset disposition, electronics recycling and scrap purchasing company and is fully compliant in ISO 14001:2015, ISO 45001:2018 and "Responsible Recycling R2v3 Recycler" at its USA locations. Through ILS, HyProMag USA will provide full traceability on its products to support the "closed loop" circular economy and critical mineral supply chains within the United States.

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