HyProMag USA Expands Detailed Engineering Phase To Include Three HPMS Vessels And Initiates Concept Studies For Further Expansion And Complementary “Long Loop” Recycling

CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (“CoTec”) and Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Mkango”) are pleased to announce that HyProMag USA LLC (“HyProMag USA”) will expand the upcoming detailed design phase of its U.S. permanent magnet recycling and manufacturing project (the “Project”) to include three HPMSⁱ vessels.

In addition, and concurrently, HyProMag USA will begin conceptual studies to evaluate further expansion to triple the capacity of the Project, versus that envisaged in the Feasibility Study, across the Project footprint of Fort Worth, Texas (“Texas Hub”), South Carolina and Nevada as well as integrated USA development of long loop chemical processing, which is complementary to the HPMS short-loop process. Long-loop chemical processing is used to process any material not suitable for short-loop recycling as well as swarf generated from magnet finishing. HyProMag USA is targeting to supply 10% of U.S. domestic demand for NdFeB magnets within five years of commissioning.ⁱⁱ

The November 2024 base case Feasibility Study (the “Feasibility Study”)ⁱⁱⁱ, which was based on two HPMS vessels, indicated a NPV_7% of US$262^iv million based on current market prices^v^{,^vi} and US$503 million based on forecast prices^vii. With the inclusion of the third HPMS vessel for an incremental capital cost of circa US$7 million, the Feasibility Study indicated a NPV_7% of US$279 million based on current market prices and US$593 million based on forecast prices.

Julian Treger, CoTec CEO commented: “The potential expansion of HyProMag USA is compelling from a value perspective as the modular design of the production hubs is expected to allow for significant upfront cost savings and optimization opportunities could result in even higher returns than the strong economics shown by the Feasibility Study. Additionally, it will also play a key role in supporting the US strategy of reshoring manufacturing capability, reducing dependance on foreign magnets and rare earths.

The increased production capacity could also allow the flexibility to produce a wider range of products and specialist magnets, further improving both financial returns and the company’s ability to become a supplier of choice.”

Will Dawes, Mkango CEO commented: “The HyProMag USA Feasibility Study highlighted the strong economics of the Project, with significant opportunities for further expansions, coupled with ancillary developments to add value, broaden the product suite and strengthen the competitive positioning.”

The Feasibility Study included the Texas Hub, and two pre-processing facilities located in South Carolina and Nevada respectively. It is envisaged that additional expansion capacity and downstream development could be added at either the Texas Hub and / or the two pre-processing facilities, which will be evaluated during the concept studies, as well as the potential to process additional primary feed if required to initially support the expansion. The modular nature of the production design should allow duplication with limited design adjustments and should benefit from the construction and ramp-up learnings of the Texas Hub, and commissioning of the UK and Germany operations. With the increased production capacity, the Project will generate additional NdFeB co-products suitable for long loop chemical processing. The opportunity to develop an integrated long loop chemical processing plant will also be evaluated during the concept studies.

Both long-loop and short-loop recycling technologies are underpinned by the HPMS technology, which liberates magnets from end-of-life scrap streams in a cost effective and energy efficient way to produce a recycled NdFeB alloy powder, which is manufactured into a magnet (via the short loop process) or into a rare earth carbonate or oxide (via the long loop chemical process). In March 2025, HyProMag USA announced the results of an independent ISO-Compliant product carbon footprint study which confirmed an exceptionally low CO₂ footprint of 2.35 kg CO₂ eq. per kg of NdFeB cut sintered block product.^viii

The Texas Hub’s annual production with a third HPMS vessel will be 750 metric tons per annum of recycled sintered NdFeB magnets and 807 metric tons per annum of associated NdFeB co-products (total payable capacity – 1,557 metric tons NdFeB within five years of commissioning) over a 40 year operating life. It is expected that the third reactor will provide the Texas Hub with significant optionality to supply the U.S. market with additional NdFeB alloy powder. The detailed design will further incorporate debottlenecking and optimization of the three existing magnet lines at the proposed Texas Plant.

Ownership

HyProMag USA is owned 50:50 by CoTec and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited (“Maginito”), which is owned on a 79.4/20.6 per cent basis by Mkango and CoTec.

About HyProMag

HyProMag is commercializing HPMS recycling technology in the UK, Germany and United States. HyProMag is also evaluating other jurisdictions, and in mid-2024 launched a collaboration with Envipro on rare earth magnet recycling in Japan. HPMS technology was developed at the Magnetic Materials Group (MMG) at University of Birmingham, underpinned by approximately US$100 million of research and development funding, and has major competitive advantages versus other rare earth magnet recycling technologies, which are largely focused on chemical processes but do not solve the challenges of liberating magnets from end-of-life scrap streams – HPMS provides this solution.

About CoTec Holdings Corp.

CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, 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 while 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 strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.

For more information, please visit www.cotec.ca.

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango’s corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Limited (“Maginito”), which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct and indirect interest (assuming conversion of Maginito’s convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the UK via a chemical route.

Maginito and CoTec are also rolling out HPMS recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi, and the Pulawy rare earths separation project in Poland. Mkango has signed a letter of Intent with Crown PropTech Acquisitions to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC Merger.

For more information, please visit www.mkango.ca

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango and CoTec. Generally, forward looking statements can be identified by the use of words such as “plans”, “expects” or “is expected to”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, the successful conclusion of the MDA, the availability of (or delays in obtaining) financing to develop Songwe Hill, the Recycling Plants being developed by Maginito in the UK, Germany and the US (the “Maginito Recycling Plants”), the results of the Feasibility Study and the Pulawy Separation Plant, governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, geological, technical and regulatory matters relating to the development of Songwe Hill, the ability to scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater financial capability and effective competing technologies in the recycling and separation business of Maginito and Mkango, availability of scrap supplies for Maginito’s recycling activities, government regulation (including the impact of environmental and other regulations) on and the economics in relation to recycling and the development of the Maginito Recycling Plants, and the Pulawy Separation Plant and future investments in the United States pursuant to the proposed cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the plants, and the positive results of feasibility studies on the various proposed aspects of Mkango’s, Maginito’s and CoTec’s activities. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company and CoTec disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. Additionally, the Company and CoTec undertake no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

For further information on CoTec, please contract:
CoTec Holdings Corp.
Braam Jonker
Chief Financial Officer
braam.jonker@cotec.ca
Canada: +1 604 992-5600

For further information on Mkango, please contact:
Mkango Resources Limited

William Dawes
Chief Executive Officer
will@mkango.ca
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

Alexander Lemon
President
alex@mkango.ca

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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 release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

Source

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CoTec Holdings

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Investor Insight

CoTec Holdings combines proprietary processing technologies with undervalued and legacy resource assets to create high-margin opportunities across rare earths, iron and copper sectors. With three execution-stage projects and a significant discount to attributable NAV, CoTec provides differentiated exposure to strategic minerals tied to electrification, AI infrastructure and supply-chain security.

Overview

CoTec Holdings (TSXV:CTH, OTCQX:CTHCF) is redefining the future of rare earth magnet recycling and strategic material extraction. Its portfolio spans rare earth magnet recycling, iron tailings reprocessing and emerging copper extraction technologies, all directed at fast-tracking revenue generation and reducing energy and capital intensity compared to conventional mining. CoTec Holdings mining model

Key Technologies

The company’s modular, capital-efficient model — including joint ventures and strategic subsidiaries — positions it for scalable growth and streamlined execution. With significant advancement in project execution, two completed feasibility studies, a third underway and an independent pre-feasibility study for HyProMag USA’s U.S. expansion completed in October 2026, CoTec is moving toward transforming its technology suite into commercial operations.

Why Invest in CoTec?

Why invest in CoTec Holdings

Differentiated Growth Model: Capital-light strategy deploying modular technologies at brownfield assets to accelerate timelines and reduce capital intensity.
Strategic Commodity Exposure: Exposure to rare earths, iron and copper — key materials for electrification, AI infrastructure, robotics and other critical supply chains.
Execution-Stage Portfolio: Three projects advancing through feasibility, engineering and financing stages.
Aligned Leadership: Strong insider ownership and experienced management with deep mining and capital markets expertise.
Lower-Carbon Production: Technologies designed to reduce energy use, water consumption and emissions relative to conventional mining.

Company Highlights

Technology-Driven Value Creation: Deploys proprietary, low-carbon processing technologies to extract value from waste, tailings and marginal deposits that traditional mining overlooks.
Execution-Stage Projects: Advancing three core assets — HyProMag USA magnet recycling, the Lac Jeannine iron tailings project, and MagIron iron ore feedstock, concentrator and pelletizer — with clear development pathways.
Expanding Rare Earth Footprint: HyProMag USA advances its scalable US hub-and-spoke rare earth magnet recycling roll-out using the Hydrogen Processing of Magnetic Scrap (“HPMS”) technology, with Inserma HDD pre-processing machines installed in South Carolina and Nevada and power secured for the Texas Hub. An independent Pre-Feasibility Study (October 2026) outlines a four-plant U.S. platform that would roughly quadruple planned magnet capacity to approximately 4,192 metric tons per year by 2034.
Strategic Copper Focus: Established a new subsidiary, CoTec Copper, to accelerate targeted investment in copper tailings and copper sulfide deposits globally, leveraging CoTec’s core technologies to unlock value.
Iron Ore & Green Steel: Advancing iron tailings reprocessing at Lac Jeannine and supporting the restart of MagIron in Minnesota and Indiana, which is now advancing merchant pig iron as its primary development strategy while retaining DR-grade pellet optionality, to supply high-grade feedstock for low-carbon steel production.
Strong Insider Support: Insiders own approximately 58 percent of shares, reinforcing alignment with long-term value creation.
Experienced Leadership: Board and executives bring deep mining, technology and capital markets experience from leading global organizations.

Key Technologies and Assets

HyProMag USA Projec

HyProMag USA project

HyProMag USA is CoTec’s flagship rare earth recycling platform and a cornerstone of its strategy to localize critical mineral supply chains. The project deploys Hydrogen Processing of Magnetic Scrap technology to recover neodymium iron boron magnets from end-of-life electronics and industrial equipment through a simplified hydrogen-based process that bypasses traditional chemical separation and smelting. This short-loop approach dramatically reduces energy use, water consumption and emissions while lowering operating complexity and cost.

The company’s phased development plan is targeting commissioning of its initial neodymium-iron-boron magnet cutting and finishing operations in Texas in H1 2027, with Phase 1 of the integrated Northlake, Texas recycling and magnet manufacturing facility targeted for completion in mid-2028. Up to 20 tonnes of magnet blocks supplied by HyProMag Group in the United Kingdom and Germany will be shaped and finished at HyProMag USA's operations for U.S. customers. Power capacity for the Texas Hub has been secured with Oncor, expected to be supplied predominantly from renewable energy, and contractor selection and permitting are underway. In October 2026, an independent Pre-Feasibility Study by PegasusTSI and BBA USA outlined an expansion to three additional plants and a Central Texas Hub, taking the platform to approximately 6,000 metric tons per year of salable material by 2034.

Watch an overview of HyProMag USA here: https://www.youtube.com/watch?v=v0d7rKdwu_s

Highlights

CoTec holds a 60.3 percent economic interest.
Northlake, Texas facility post-tax NPV of approximately US$723 million at forecast prices (October 2026 update to the 2024 Feasibility Study, reflecting detailed engineering and finalized equipment orders).
Northlake capital cost estimated at approximately US$167 million (AACE Class 2), with Phase 1 targeting about 1,034 metric tons per year of payable production and Phase 2 about 1,526 metric tons per year.
Initial magnet cutting and finishing operations, and first U.S. magnet sales, targeted for H1 2027.
Independent Pre-Feasibility Study (October 2026) indicates an incremental post-tax NPV of US$1.85 billion to US$2.06 billion and post-tax IRR of 31 to 36 percent for three additional plants and a Central Texas Hub, at a capital cost of approximately US$623 million to US$656 million; combined with Northlake, platform post-tax NPV of US$2.6 billion to US$2.8 billion and NdFeB magnet capacity of approximately 4,192 metric tons per year by 2034.
Inserma pre-processing machines have been installed at South Carolina and Nevada facilities to support feedstock preparation and scale-up of the hub-and-spoke rollout.
Integrated Texas Hub’s Hydrogen Processing of Magnet Scrap section targeted for mid-2028.
HyProMag GmbH, the HyProMag Group’s German operation in Pforzheim, was designated a Strategic Project under the EU Critical Raw Materials Act in October 2026, underscoring the strategic relevance of the HPMS technology.

Lac Jeannine Iron Project

CoTec Holdings Lac Jeannine Iron project

The Lac Jeannine project is an advanced tailings reprocessing initiative designed to transform legacy mining waste into high-purity iron concentrate for steelmaking. By leveraging existing infrastructure and modern processing technologies, the project aims to unlock value from previously discarded material while simultaneously advancing environmental reclamation. This approach aligns economic return with environmental remediation and supports domestic iron supply.

Metallurgical test work has demonstrated the project's ability to produce a high-purity iron concentrate grading in excess of 67 percent FeT, the threshold for high-purity iron under the Québec and Canadian critical and strategic minerals frameworks. CEO Julian Treger said that this validates the resource’s quality and the effectiveness of the company’s processing strategy. “(It also supports) our vision of transforming a historic environmental liability into a strategic asset capable of supporting the global transition to lower-carbon steel production."

Highlights

Indicated resource of about 31 Mt at 6.8 percent iron and inferred resource of about 71 Mt at 6.8 percent iron (2026 MRE).
After-tax NPV7 of US$91.9 million and IRR of 29.6 percent (2026 PEA).
Initial capex estimated at US$69.4 million.
15-year mine life
A 41 percent increase in the resource according to the 2026 PEA, with a global increase in total iron grade from 6.7 to 6.8 percent.
Feasibility Study underway with BBA Consulting, with permitting and offtake discussions in progress.

MagIron represents a restart-ready brownfield iron ore deposit, concentrator and pelletizer project in Minnesota and Indiana, that benefits from an estimated $660m in historical capital investment, targeting the production of direct-reduction grade pellets for low-carbon steelmaking. The project benefits from extensive existing infrastructure and prior capital investment, allowing rapid recommissioning compared with greenfield developments. Its strategic positioning targets rising demand for domestically sourced feedstock for electric arc furnaces and decarbonized steel production.

Senior leadership changes have been made to support the ongoing development of MagIron, especially regarding restarting its iron ore concentrator in Minnesota and pellet plant in Indiana. In August 2026, a concept study by Primetals Technologies confirmed three technically credible pathways to produce approximately 2 million tonnes per year of granulated pig iron at MagIron’s facilities. MagIron is now advancing pig iron as its primary development strategy while retaining DR-grade pellet optionality, and independent test work at the Natural Resources Research Institute confirmed that MagIron concentrate can produce DR-grade pellets.

Highlights

CoTec owns approximately 17 percent.
Definitive Feasibility Study shows after-tax NPV of about US$1.60 billion and IRR about 27.6 percent.
Average annual production is about 2.6 Mt DR-grade pellets.
Life of mine is about 32 years.
Payback period is about 3 years and 7 months.
Mine and concentrator permits in place; pellet plant permitting in progress
Raised additional capital at a pre-money valuation of US$550 million from existing shareholders

CoTec Copper

CoTec Copper is a dedicated subsidiary created to accelerate the company’s exposure to copper, one of the most strategically important electrification metals. The unit focuses on acquiring and advancing copper tailings projects and sulphide deposits, particularly in historically productive mining jurisdictions where modern processing technologies can unlock additional value from previously uneconomic material. It leverages CoTec’s existing technology portfolio to enhance recoveries and lower operating costs.

Highlights

Targets assets in Tier 1 mining regions across the United States, Australia, Latin America and Africa.
Focuses on both tailings reprocessing and sulphide copper deposits.
Designed as a scalable growth platform to expand CoTec’s copper exposure.
Definitive joint venture shareholder agreement with Copper Intelligence (September 2026) to pursue historical copper tailings opportunities in the Democratic Republic of Congo, with funding to be sought from the U.S. International Development Finance Corporation and other sources once sufficient scale is achieved.
Non-binding framework agreement with Battery Mineral Resources (October 2026) toward a Strategic Economic Joint Venture at the Punitaqui copper mining district in Chile.

Binding Solutions

Binding Solutions provides a cold agglomeration technology that converts ultrafine mineral waste into ISO-compliant pellets or briquettes suitable for industrial use, particularly in green steel production. Unlike traditional pelletizing processes that rely on high-temperature furnaces, this approach operates at low temperatures, drastically reducing energy consumption and emissions while enabling monetization of low-grade or waste materials.

Highlights

Uses about 95 percent less energy than conventional pelletizing.
Generates about 98 percent fewer emissions.
Applicable to iron and other mineral fines.

Ceibo

Ceibo’s oxidative heap-leaching technology is designed to improve copper recovery from sulphide ores such as chalcopyrite, which account for the majority of global copper reserves but are traditionally difficult and costly to process. The process enhances recovery rates while lowering environmental impact and capital intensity, potentially transforming the economics of many existing copper assets.

Highlights

Potential recovery improvement from about 30 percent to approximately 75 percent.
Targets refractory sulphide deposits often considered uneconomic.
CoTec holds a minority equity interest and a seat on the technical advisory board.
Completed Series B financing of over US$30 million led by Energy Impact Partners to fund the scaling of the technology.
Investor syndicate includes BHP Ventures. Ceibo has partnered with Glencore’s Lomas Bayas operation in Chile (2024) and produced first copper cathodes at a demonstration plant with Compañía Minera San Gerónimo (2025).

WaveCracker

WaveCracker is a microwave-assisted mineral processing technology being advanced in collaboration with McGill University. The system uses targeted microwave energy to weaken mineral structures before conventional processing, improving metal liberation, reducing reagent consumption and lowering overall processing costs.

Highlights

Focused initially on copper sulphide applications.
Designed to accelerate leaching and recovery kinetics.
Builds on more than 30 years of microwave mineral processing research.

Salter Cyclones

Salter Cyclones technology uses multi-gravity separators to recover ultra-fine minerals from tailings streams that traditional processing methods cannot efficiently capture. By enabling recovery of metals from waste material, the system creates new revenue streams while reducing environmental liabilities associated with tailings storage.

Highlights

Applicable to iron, manganese and other fine mineral commodities.
Exclusive global rights for iron applications and regional exclusivity for manganese during the initial agreement period.
Converts waste into high-grade concentrates suitable for market.
CoTec-owned commercial-scale SCMG2 unit under assembly in the UK, with factory acceptance testing from Q3 2026, for deployment at Corem in Québec as a commercial testing and demonstration platform supporting Lac Jeannine and third-party iron ore opportunities.

Management Team

Julian Treger - Chief Executive Officer and Director

Julian Treger previously served as the CEO of Anglo Pacific Group before establishing Audley Capital Partners. At Audley, Treger directed the team through acquisitions totaling $570 million and achieved a realized Internal Rate of Return (IRR) of 38 percent. Treger continues to serve as the chairman of Audley Capital and holds both a BA and an MBA from Harvard.

Abraham Jonker - Chief Financial Officer

Abraham Jonker has 30 years of experience in mining finance. He previously served as the Lead Independent Director at Mandalay Resources and has been instrumental in leading over $750 million in equity and debt raises. Jonker is a Chartered Accountant in the UK, Canada, and South Africa and holds a Master's in Tax from Rand Afrikaans University.

John Singleton - Chief Operating Officer

John Singleton possesses over 25 years of experience in mining. His career began at De Beers, and he has since held senior leadership roles at Centamin and Rio Tinto. Singleton is a Fellow of the Royal Geological Society and holds degrees from Imperial College London and the University of Bristol.

John McGagh - Technology Consultant

John McGagh has more than 35 years of experience in digital transformation across various industries. He served as the head of innovation at Rio Tinto and is currently the chief digital officer at Snowy Hydro. McGagh is an adjunct professor at the University of Queensland and a Fellow of the Australian Academy of Technology Science and Engineering.

Eugene Hercun - VP Finance & Investor Relations

Eugene Hercun is a CPA, CA, with 15 years of varied experience in mining finance. He has led metal sales negotiations for more than $200 million annually and holds Level 1 of the CFA designation.

Hugh Thatcher - VP North America

Hugh Thatcher has 25 years of experience as in-house counsel in the mining and industrial sectors, including as Chief Counsel - US at Rio Tinto from 2020 to 2023. He holds a BA from Whitman College and a JD from Vanderbilt University.

Ian French - VP Projects

Ian French has more than 20 years of experience in project delivery and risk advisory across diamonds, gems and precious metals, including as Global Head of Diamond Risk & Security at Rio Tinto, and has led major infrastructure programs for mining companies and governments.

Board of Directors

Lucio Genovese, Independent Chairman

Lucio Genovese currently serves as the CEO of Nage Capital and as the chairman of Ferrexpo plc. He previously held senior roles at Glencore, including CEO of the CIS region. Genovese is a Chartered Accountant with degrees in Commerce and Accounting from the University of Witwatersrand.

Tom Albanese, Non-executive Director

Tom Albanese is the former CEO of Rio Tinto and Vedanta Resources. He was appointed Chair of Franco-Nevada Corporation in May 2026, having served as a director since 2013, and previously served as lead independent director of Nevada Copper. Albanese holds Master's and Bachelor's degrees from the University of Alaska Fairbanks.

Robert (Bob) Harward - Non-Executive Director

Robert Harward is a retired US Navy Vice Admiral (SEAL) and former deputy commander of US Central Command. He served on the US National Security Council and held senior strategy roles at Lockheed Martin and Shield AI.

Erez Ichilov - Non-executive Director

Erez Ichilov previously served as managing director at Traxys Projects, where he led investments in companies such as Nouveau Monde Graphite, Talon Metals, and Li-Cycle. Ichilov holds LLB and MBA degrees.

Sharon Fay - Non-executive Director

Sharon Fay previously served as head of equities and head of responsibility at AllianceBernstein. She built the firm's Corporate Responsibility and Responsible Investment teams. Fay is a Chartered Financial Analyst with a BA from Brown and an MBA from Harvard.

Independent Review of Syntholene Facility Confirms World Class Proof-of-Performance, Supports Potential for Cost-Competitive Synthetic Aviation Fuel

Independent review of Iceland Demonstration Facility operating data supports the potential for Syntholene to achieve lower direct production costs than conventional fossil-derived fuels under favourable commercial operating conditions.

Syntholene Energy Corp. (TSXV: ESAF) (OTCQB: SYNTF) (FSE: 3DD0) (“Syntholene” or the “Company”) announced today the results from the previously announced independent technical review (the “Independent Review”) by Prof. Nigel Brandon of Imperial College London, of the operating data from... Keep Reading...

HyProMag USA Expands Detailed Engineering Phase To Include Three HPMS Vessels And Initiates Concept Studies For Further Expansion And Complementary “Long Loop” Recycling

CoTec Holdings Investor Kit

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Investor Insight

Overview

Key Technologies

Why Invest in CoTec?

Company Highlights

Key Technologies and Assets

HyProMag USA Projec

Highlights

Lac Jeannine Iron Project

Highlights

Highlights

CoTec Copper

Highlights

Binding Solutions

Highlights

Ceibo

Highlights

WaveCracker

Highlights

Salter Cyclones

Highlights

Management Team

Julian Treger - Chief Executive Officer and Director

Abraham Jonker - Chief Financial Officer

John Singleton - Chief Operating Officer

John McGagh - Technology Consultant

Eugene Hercun - VP Finance & Investor Relations

Hugh Thatcher - VP North America

Ian French - VP Projects

Board of Directors

Lucio Genovese, Independent Chairman

Tom Albanese, Non-executive Director

Robert (Bob) Harward - Non-Executive Director

Erez Ichilov - Non-executive Director

Sharon Fay - Non-executive Director

Independent review of Iceland Demonstration Facility operating data supports the potential for Syntholene to achieve lower direct production costs than conventional fossil-derived fuels under favourable commercial operating conditions.

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