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Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced that Tanbreez Mining Greenland A/S (“Tanbreez”) is approximately 70% complete on the final stages of the Bankable Feasibility Study (BFS) for a 500,000 tons per annum mining and processing operation at the Tanbreez Rare Earth Project in South Greenland. The BFS is being led by Danish engineering firm NIRAS A/S (“NIRAS”), a globally leading multidisciplinary engineering and environmental consultancy based in Denmark. The BFS remains on track for submission in Q4 2025. In addition, NIRAS has completed environmental fieldwork for the 2025 baseline sampling program.
Tony Sage, Executive Chairman of the Company, commented:
“The progress on the final BFS engineering and the completion of the 868 baseline sampling program represent a major milestone in unlocking the full potential of the Tanbreez Rare Earth Project. Our partnership with NIRAS ensures that both technical and environmental aspects are being addressed to the highest standards, reinforcing our commitment to responsible development.”
This final BFS phase includes:
• Completion of mine design and process plant engineering
• Tailings management and water treatment strategies
• Integration of environmental and regulatory inputs
• Preparation of documentation for submission to Greenland’s MLSA
Figure 1. Proposed plant and port site.
The engineering scope encompasses detailed design of the two open pit mining phases, including blasting and haulage logistics, crushing and magnetic separation circuits, slurry transport systems, and tailings deposition infrastructure at Lake Foster. It also includes port and haul road layouts, diesel power generation, and worker accommodation facilities. NIRAS is integrating hydrological modelling, dust dispersion controls, and closure planning into the final design to ensure long-term environmental compliance, operational efficiency, and alignment with Greenland’s regulatory framework.
Figure 2 – NIRAS engineers at the proposed Tanbreez port site 27/8/2025
Once completed, which is expected in the fourth quarter of 2025, the BFS will form the central component of the Tanbreez updated Exploitation License documentation, to be submitted to the Mineral License and Safety Authority (MLSA) of Greenland, in accordance with the Greenlandic Mineral Resources Act and the specific terms of the granted exploitation license MIN 2020-54.
Figure 3 – NIRAS team undertaking August 2025 baseline marine sampling
This submission will support the progression of the project towards final approval to commence potential commercial mining operations.
Figure 4 - NIRAS FS finalization team
Completion of 2025 Baseline Sampling Program
In parallel, Critical Metals Corp confirms that environmental fieldwork for the 2025 baseline sampling program has officially been completed. This program—coordinated by NIRAS ran through August 2025 and was designed to close spatial and seasonal gaps in the existing baseline dataset.
Key components of the sampling campaign included:
- Bergerhoff dust monitoring
- All-year freshwater sampling across 19 stations
- Sediment coring in Lake Foster and Kangerluarsuk Fjord
- Arctic char population update via electrofishing
- Intertidal sampling of mussels, bladderwrack, and sea scorpion
Figure 5 – NIRAS team undertaking baseline marine fauna sampling August 2025
These efforts support the Environmental Impact Assessment (EIA) and reinforce Tanbreez’s commitment to responsible development.
About NIRAS
With nearly 70 years of experience, NIRAS has grown from a Danish consultancy into an international leader in sustainable progress. Founded by visionary engineers Jørgen Kristian Nielsen and Konrad Rauschenberger in 1956, NIRAS’s early projects in Greenland laid the foundation for their expertise in resilient and innovative solutions. Their decentralized structure fosters local expertise, adaptability and collaboration across borders and disciplines, ensuring sustainable value creation for their clients and the communities they serve.
As a multidisciplinary consultancy company with more than 3,000 employees located in 62 offices across Europe, Africa, Asia, North, and South America, NIRAS work within multiple areas from processing plants and construction over energy, water, environment, and infrastructure to third world aid and urban planning. NIRAS have 8,000 ongoing projects in more than 140 countries and their trademark is the crosscutting approach, always grounded and tailored to achieve the best outcomes for their clients and communities.
About Tanbreez
The Tanbreez Rare Earth Project is one of the world’s largest hard rock rare earth elements (REE) deposits, located in southern Greenland near the town of Qaqortoq. The project is notable for its high concentration of heavy rare earth oxides (HREOs), which are critical for high-tech applications, clean energy, and defence industries. Unlike other major TREO deposits, Tanbreez contains very low levels of uranium and thorium, making it more environmentally and politically viable.
- Deposit Type: Kakortokite (a stratiform layered igneous rock rich in TREOs)
- Kakortokite Estimate: ~4.7 billion tonnes of REE-bearing mineralisation
- Heavy REE Content: ~27% of Total Rare Earth Oxides (TREO)
- Location: Near Qaqortoq, southern Greenland
- Target drilling: ongoing to achieve Measured and Indicated Mineral Resources
- Project Stage: advanced Bankable Feasibility Study phase
Kakortokite host may not always contain any economic mineralisation of TREO.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
Photos accompanying this announcement are available at
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Environmental Approval for Boland Infield Studies & Update on Scaled Column ISR Test
- Cobra is now completing its programme notification process that will see infield testing commence in mid-October and last for approximately two weeks
- Field tests will provide an infield measure of the rate of permeability achievable through the in-situ recovery ("ISR") process
- A large (55kg) bench scale ISR column study underway at the Australian Nuclear and Scientific Technology Organisation ("ANSTO") is currently achieving exceptional permeability rates of 1.5 metres/day
- The column pH dropped from pH7.0 to pH4.0 in just 48 hours, with first liquor assays expected soon
- Being able to replicate similar permeabilities in a field environment will provide robust, high confidence mining parameters for use with future economic studies
Rupert Verco, Managing Director of Cobra, commented:
"It is pleasing to receive DEM approval that will enable our first field testing. Once the programme notification is fulfilled, the team will mobilise to site to install temporary infrastructure and commence testing.
Initial permeabilities achieved in the large-scale column are exceptionally encouraging and will see Rare Earth Elements being recovered in very short time frames using a low-cost lixiviant. Running these two work programmes in parallel will provide invaluable data that will form the basis for estimating future ISR production rates. We expect recovery results of this in-field test to be reported to the market in the coming weeks."
Follow this link to watch a short video of MD Rupert Verco explaining future field studies relevant to this announcement: https://investors.cobraplc.com/link/P4xdBP
Update on Scaled Column ISR Test
- Percolation of lixiviant through a 55kg ISR column containing a composite sample from three drillholes from across the Boland project has commenced using ~0.3M ammonium sulphate ("AMSUL") at pH3
- Recovery rates of individual REEs will be evaluated during the ISR process, with separate liquors to be collected to evaluate the possibility of producing an MREC from both early stage (pH>4.5) and late stage (pH=3.0).
- In two days, the average permeability rate being achieved is 1.5 metres/day
- The current recovered liquor pH is <4.0; previous columns showed REE recoveries from pH5
- Study anticipated to be completed within a fortnight
- First liquor assays expected soon
Figures 1 & 2: photos of the 55kg column subject to ISR studies currently in progress at ANSTO laboratories
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Further information relating to Boland and these results are presented in the appendices.
Enquiries:
Cobra Resources plc Rupert Verco (Australia) Dan Maling (UK) | via Vigo Consulting +44 (0)20 7390 0234 |
SI Capital Limited (Joint Broker) Nick Emerson Sam Lomanto | +44 (0)1483 413 500 |
Global Investment Strategy (Joint Broker) James Sheehan | +44 (0)20 7048 9437 james.sheehan@gisukltd.com |
Vigo Consulting (Financial Public Relations) Ben Simons Anna Stacey | +44 (0)20 7390 0234 cobra@vigoconsulting.com |
The person who arranged for the release of this announcement was Rupert Verco, Managing Director of the Company.
Information in this announcement relates to exploration results that have been reported in the following announcements:
- Exploration update: "Low-Cost Recoveries from Optimised Testing", dated 11th August 2025
- Exploration update: "Rare Earth ISR System beyond Boland", dated 4th August 2025
- Exploration update: "Favourable Boland Metallurgical Results", dated 21st July 2025
- Exploration update: "Boland Project Update", dated 26th June 2025
- Wudinna Project Update: "Boland Aircore Drill Results", dated 25th February 2025
- Wudinna Project Update: "Further Positive Metallurgy Results from Boland Project", dated 16 December 2024
- Wudinna Project Update: "2nd Bench Scale ISR Study & £1.7M Placing", dated 26 November 2024
- Wudinna Project Update: "ISR Bench Scale Study Completion", dated 4 November 2024
- Wudinna Project Update: "ISR bench scale study delivers exceptional results", dated 1 October 2024
- Wudinna Project Update: "ISR bench scale update - Exceptionally high recoveries with low impurities and low acid consumption; on path to disrupt global supply of heavy rare earths", dated 28 August 2024
- Wudinna Project Update: "ISR bench scale update -Further metallurgical success at world leading ISR rare earth project", dated 11 July 2024
Competent Persons Statement
The information in this report that relates to metallurgical results is based on information compiled by Cobra Resources and reviewed by Mr James Davidson who is Principal at Rendement and a Fellow of the Australian Institute of Mining and Metallurgy (F AusIMM). Mr Davidson has sufficient experience that is relevant to the metallurgical testing which was undertaken to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Davidson consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.
Information in this announcement has been assessed by Mr Rupert Verco, a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Verco is an employee of Cobra and has more than 17 years' industry experience which is relevant to the style of mineralisation, deposit type, and activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves of JORC. This includes 13 years of Mining, Resource Estimation and Exploration.
About Cobra
Cobra Resources is a South Australian critical minerals developer, advancing assets at all stages of the pre-production pathway.
In 2023, Cobra identified the Boland ionic rare earth discovery at its Wudinna Project in the Gawler Craton - Australia's only rare earth project suitable for in situ recovery (ISR) mining. ISR is a low-cost, low-disturbance extraction method that eliminates the need for excavation, positioning Boland to achieve bottom-quartile recovery costs.
In 2025, Cobra further expanded its portfolio by optioning the Manna Hill Copper Project in the Nackara Arc, South Australia. The project contains multiple underexplored prospects with strong potential to deliver large-scale copper discoveries.
In 2025, Cobra sold its Wudinna Gold Assets to Barton Gold (ASX: BDG) for up to A$15 million in cash and shares.
Regional map showing Cobra's tenements in South Australia
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Appendix 1: Background information - the Boland Project and ISR
- The Boland Project was discovered by Cobra in 2023. Mineralisation is ionically bound to clays and organics within palaeochannel sands within the Narlaby Palaeochannel
- Mineralisation occurs within a permeable sand within an aquifer that is saltier than sea water and is confined by impermeable clays
- ISR is executed through engineered drillhole arrays that allow the injection of mildly acidic ammonium or magnesium sulphate lixiviants, using the confining nature of the geology to direct and lower the acidity of the orebody. This low-cost process enables mines to operate profitably at lower grades and lower rates of recovery
- Once REEs are mobile in solution in groundwater, it is also possible, from an engineering standpoint, to recover the solution to surface via extraction drillholes, without any need for excavation or ground disturbance
- The capital costs of ISR mining are low as they involve no material movements and do not require traditional infrastructure to process ore - i.e. metals are recovered in solution
- Ionic mineralisation is highly desirable owing to its high weighting of valuable HREOs and the cost-effective method in which REEs can be desorbed
- Ionic REE mineralisation in China is mined in an in-situ manner that relies on gravity to permeate mineralisation. The style of ISR process is unconfined and cannot be controlled, increasing the risk for environmental degradation. This low-cost process has enabled China to dominate mine supply of HREOs, supplying over 90% globally
- Confined aquifer ISR is successfully executed globally within the uranium industry, accounting for more than 60% of the world's uranium production. This style of ISR has temporary ground disturbance, and the ground waters are regenerated over time
- Cobra is aiming to demonstrate the economic and environmental benefits of recovering ionic HREOs through the more environmentally aquifer controlled ISR - a world first for rare earths
Figure A1: Comparison between the Chinese and the proposed Boland process for ISR mining of REEs
Appendix 2: Metallurgical sample information
Drillhole | From (m) | To (m) | ID | Pr6O11 ppm | Nd2O3 ppm | Tb2O3 ppm | Dy2O3 ppm | Sm2O3 | TREO ppm |
CBSC0006 | 31.15 | 33.05 | CBSC006-comp | 12 | 48 | 1.3 | 8 | 9 | 264 |
CBSC0009 | 25.55 | 26.89 | CBSC009-comp | 53 | 215 | 6.8 | 38 | 50 | 1,261 |
CBSC0010 | 26.00 | 27 | CBSC0010-comp | 151 | 470 | 9.2 | 52 | 76 | 2,999 |
Composite | CBSC00-06+09+10 | 58 | 194 | 4.8 | 28 | 36 | 1,194 |
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Critical Metals Corp NASDAQ CRML Reports Massive Mineralization Extension & Continues Resource Expansion These (3) 2024 Drilling Holes Intercepted Exceptional Rare Earth Elements Grading TREO Range 0.40% to 0.42% & HREO ∼26% Across our Flagship Core Asset Tanbreez in Greenland
- Consistent high-grade rare earth mineralization intersected in all four reported holes, with Total Rare Earth Oxide (TREO) grades between 0.40% and 0.42%.
- High proportion of heavy rare earth oxides (HREO) ~26% of TREO, reinforcing the deposit’s potential strategic value.
- Significant zirconium oxide (ZrO₂) grades of 1.57–1.58% across all holes.
- Gallium oxide (Ga₂O₃) assays between 93–99 ppm, providing a potential additional economic credit.
- All holes drilled vertically (-90°) through sub-horizontal, stratiform kakortokite layers, intersecting mineralisation at approximately true thicknesses.
- Mineralisation remains open at depth in all reported holes.
- Drilling confirms continuity of grade and mineralogy across multiple sections of the Fjord Deposit, consistent with historical data.
- All the drill holes were collared within the Fjord Deposit with 23.6MT @ 0.42% TREO Maiden Mineral Resource.
- The holes are part of the ongoing 2024–2025 Fjord Resource Upgrade program, with over 1900 m drilled to date in 2025 and further assays pending.
Tony Sage, Executive Chairman of the Company, commented:
“These additional 2024 diamond drill hole results indicate the consistent grades of rare earth and gallium, with a high proportion of critical heavy rare earths. Our rare earth grades and gallium concentration, position Tanbreez as a strategically important asset for Western supply chains. With China's control over the rare earth market and gallium, securing sources of these critical minerals has become paramount for U.S. defense capabilities and national security. The progress we've made, with 1,316 meters of diamond core drilling completed in 2024, and over 1,850 meters of drilling as part of our 2025 Fjord Resource Upgrade resource extension program, significantly strengthens our ability to build on our substantial resource base. With further assays pending and more drilling underway, we see strong potential to grow the scale and nature of the project's mineral inventory.”
Summary New Drill Hole Results
Drill hole collars and assay Tables 1 and 2 and Figure 1 and Appendix 1, 2 and 3.
| Hole ID | Depth (m) | TREO (%) | HREO (% of TREO) | ZrO₂ (%) | Ga₂O₃ (ppm) | ||||||
| D-24 | 85.70 | 0.42 | 26.3% | 1.58 | 99 | ||||||
| E-24 | 62.30 | 0.40 | 26.5% | 1.57 | 93 | ||||||
| F-24 | 107.45 | 0.40 | 25.5 | 1.57 | 93 | ||||||
| Cut-off | 0.30 |
Table 1 – 2024 New assay results summary for D-24, E-24, F-24
New Drill Hole Results
Drill Hole D-24
Drilled vertically to 85.7m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.42% TREO (including 25.9%,HREO)
- 1.57% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1340ppm Nb2O5 niobium pentoxide,
- 99ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 63m downhole.
Drill Hole E-24
Drilled vertically to 62.3m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.39% TREO (including 26.2%,HREO)
- 1.56% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1330ppm Nb2O5 niobium pentoxide,
- 90ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 61.3m downhole.
Drill Hole F-24
Drilled vertically to 107.45m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.40% TREO (including 25.6%,HREO)
- 1.57% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1260ppm Nb2O5 niobium pentoxide,
- 93ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 72m downhole.
Figure 1 - Tanbreez Site Visit August 29 Malcolm Day Director CRML, Greg Barnes JV Partner, George Karageorge CTO, Anna Wingle Tanbreez Mining Greenland
Figure 2 - Fjord and Hill Deposit drill hole locations for 2007, 2010, 2013, 2024 in red with 2025 drill hole collars completed in July with 9 diamond holes awaiting drilling.
Drill Hole Statistics
Drill hole collars and assay Tables 1 and 2 and Figure 1 and Appendix 1, 1A , 2 and 3.
| Hole ID | Depth From | Depth To | Interval | TREO% | HREO% | ZrO2 % | Ta2O5 ppm | Nb2O5 ppm | Ga2O5 ppm | |
| A1-24 | - | 40.00 | 40.00 | 0.48 | 0.13 | 1.86 | 134 | 1513 | 103 | |
| A2-24 | - | 41.00 | 41.00 | 0.51 | 0.14 | 1.96 | 145 | 1685 | 96 | |
| B-24 | - | 58.00 | 58.00 | 0.49 | 0.13 | 1.99 | 144 | 1651 | 101 | |
| C-24 | - | 65.00 | 65.00 | 0.54 | 0.14 | 1.98 | 156 | 1741 | 89 | |
| D-24 | 1.00 | 63.00 | 62.00 | 0.42 | 0.11 | 1.58 | 112 | 1344 | 99 | |
| E-24 | 1.00 | 62.30 | 61.30 | 0.40 | 0.11 | 1.57 | 105 | 1336 | 93 | |
| F-24 | 0.00 | 72.00 | 72.00 | 0.40 | 0.10 | 1.57 | 103 | 1256 | 93 |
Table 2 - 2024 Drill Hole Assay results summary to date 2024 diamond drill hole program in the Fjord Area. Assay results are reported for drill holes D, E and F. A1, A2, B and C were reported on 22 August 2025. Remaining assay results for holes G to Z are expected to be reported in Q3, 2025.
Background – Fjord Deposit Drilling
The 2024–2025 drilling campaign in the Fjord area has targeted confirmatory and step-out holes to:
- Validate historical drilling data.
- Refine the geological model for resource estimation.
- Provide material for metallurgical and environmental test work.
All drill holes in this program are vertical, intersecting the sub-horizontal layers at true thickness. The three holes reported here return TREO grades between ~0.40% and 0.42% with approximately 26% HREO, along with ZrO₂ values of 1.57–1.58% and gallium oxide contents of 93–99 ppm. These results are consistent with historical assays and demonstrate the persistence of grade and mineralogy across the Fjord deposit.
From a deposit classification perspective, the kakortokite-hosted REE mineralisation is best described as stratiform magmatic, confined entirely to the kakortokite unit and not observed in adjacent lithologies such as lujavrite or naujaite. This strong lithological control underpins confidence in resource modelling, supports bulk mining strategies, and provides reliable input for geology domaining.
Given the continuity of mineralization over several kilometres, the Fjord deposit represents a significant portion of the overall Tanbreez mineral inventory. Ongoing drilling is expected to further delineate these resources, with pending assays from additional holes likely to extend the known mineralised envelope and refine the grade distribution.
Sampling over the 2024 diamond holes was taken over kakortokite intervals above the Black Madonna lower boundary.
- Collar data: All collar locations, RLs, azimuths, dips, and hole lengths have been clearly presented in Table 2 of the report.
- Assay data: Table 1 in the report provides the suite of weighted average downhole assay results for TREO, HREO, Ga₂O₃, and other oxides.
- True widths: All drill holes are vertical (-90°) through sub horizontal mineralised layers, so intersections are true widths.
- No cut-off grades or metal equivalents were applied. All assays are reported at face value.
Gallium Results
The gallium oxide Ga2O3 mineralization assay results ranges from low to high is 90ppm to 100ppm for the four 2024 drillholes published to date.
Drill holes that were not assayed for gallium, tantalum and niobium in 2013 will be assayed from existing pulps submitted to ALS Metallurgical in Perth for analysis in the coming months.
ALS laboratories will also assay all sample for gallium for the 2024 and 2025 drill holes with results that will be published in September and October 2025. The gallium oxide results for all diamond holes published to date may add a credit to the TREO-HREO mixed concentrate.
