Ionic Rare Earths

WSP Global Appointed to Manage Feasibility Study on Commercial Magnet Recycling Facility in Belfast, UK

The Board of Ionic Rare Earths Limited (“IonicRE” or “The Company”) (ASX: IXR) is pleased to advise that Ionic Technologies International Ltd (“Ionic Technologies”), a 100% owned subsidiary based in Belfast, UK, has progressed the delivery of a feasibility study for a commercial magnet recycling facility, based in Belfast, UK. Ionic Technologies has developed rare earth element (REE) separation and refining technology and applied this to the recycling of spent permanent Neodymium-Iron-Boron (NdFeB) permanent magnets to enable the creation of sustainable and traceable rare-earth supply chains.


  • Ionic Technologies has selected WSP Global as the service partner to deliver the feasibility study for a first-of-kind magnet recycling facility, utilising our patented Rare Earth Element (REE) separation technology;
  • WSP is a leading global provider of consultancy, engineering and project delivery services to the chemicals sector;
  • The UK government is supporting the feasibility study through a £1 million grant as part of the Innovate UK circular critical materials supply chains (CLIMATES) program, to evaluate the construction and supply side dynamics of a magnet rare earth recycling plant in the UK in collaboration with the British Geological Survey (BGS);
  • The plant will be located in Belfast, UK, where it has access to excellent infrastructure, and positive policy support through the Windsor Framework providing dual market access across the UK and EU;
  • The move is an important step towards sovereignty for the UK, in developing market leading technology and building a supportive pathway for Ionic Technologies to commercialise the first magnet recycling facility in Belfast to feed escalating supply chain appetite for circular economy magnet rare earth oxides (REOs); and
  • Ionic Technologies' Belfast magnet recycling facility has the potential to be a significant contributor to the benchmark target set out within the EU Critical Raw Materials Act 2023, being 25% magnet rare earths annual consumption from recycling by 2030.
Following the successful award of grants from the UK Government’s CLIMATES program (ASX: 12 September 2023), Ionic Technologies has selected WSP as the engineer and project manager for delivery of the feasibility study for the magnet recycling facility in Belfast.

The feasibility study forms the most significant single output of the CLIMATES project that Ionic Technologies will complete in partnership with the British Geological Survey (BGS), which will provide a comprehensive assessment of the feasibility and supply side dynamics of a magnet recycling facility, within the UK.

Ionic Rare Earth’s Managing Director, Tim Harrison, commented;

“Ionic Rare Earths’ focus is on securing critical elements for supply chain in the new economy. We are harnessing our technology to accelerate mining, refining and recycling of magnet and heavy rare earths critical for energy transition, advanced manufacturing, and defence.”

“The confirmation of WSP as the service provider tasked with delivering the feasibility study into a first-of-kind commercial magnet recycling facility in Belfast, utilising our patented technology, represents a significant step towards the construction of a commercial scale magnet recycling facility, and in doing so establishing a domestic supply chain of secondary Rare Earth Oxides (REOs) for the UK.”

“We will be working in partnership with WSP on the feasibility study, using our patented processes and knowledge gained through operation of our Demonstration Plant and we expect to have a costed solution by mid-2024”.

“We are pleased that we have achieved this key milestone of selecting a suitable partner as part of the CLIMATES program, in collaboration with British Geological Survey, which will deliver on not only this feasibility study, but also the supply side dynamics of a magnet recycling facility, within the UK.”

“The decision to select WSP as the service partner on this landmark study was made because of WSP’s prominence, experience and reputation in the chemical industry, as well as their demonstrable capability to deliver a study that is closely aligned to our overall project objectives.”

“WSP is a world leading engineering professional services business, and has technical expertise in engineering, science, architecture, planning, surveying and environmental management; all of which will represent key deliverables for this project, which will be served by their UK-based Process Engineering Centre for Excellence.”


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This article includes content from Ionic Rare Earths, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Ionic Rare Earths

Ionic Rare Earths Limited IonicRE Presenting at MST Financial African Mining Forum

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to invite investors and shareholders to attend the MST Financial African Mining & Energy Forum on Monday 4 December 2023 at 1.30pm AEDT.

Managing Director Tim Harrison will discuss progress across the Makuutu Heavy Rare Earth Project and Ionic Technologies, and engagement with the new economy supply chain.

To join the presentation, please visit:
https://www.abnnewswire.net/lnk/D3QY7D2U



About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

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Ionic Rare Earths

Ionic Rare Earths Limited Welcomes EU Critical Minerals Act Progress

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) welcomes developments from the European Union last week, where the European Parliament and the Council, the grouping of EU governments, agreed on common text for the Critical Raw Materials Act to encourage recycling of magnet rare earths, now classified as Strategic Raw Materials.

Ionic Rare Earths Managing Director Tim Harrison said the wholly-owned Ionic Technologies facility in Belfast, UK, was progressing key discussions with magnet manufacturers on swarf (metal and magnet making waste) recycling plus exploring opportunities to access a steady supply in magnets to be recycled from sources such as end-of-life turbines from grid scale wind farms and components from used electric vehicles.

"Our proprietary magnet recycling technology will help the EU meet these targets to develop domestic, secure, and sustainable supply chains to address strategic supply and sovereign security," Harrison said.

The EU's decision upgrades the benchmark for recycling of critical raw materials from 15 percent to at least 25 percent of annual consumption of raw materials by 2030.

"Our Belfast facility is key to us harnessing our technology to accelerate our mining, refining and recycling of magnets and heavy rare earths which are critical for the energy transition, advanced manufacturing, and defence," he said.

The European Union's media release states:

"The Critical Raw Materials Act is intended to make the EU more competitive and sovereign. It aims to cut red tape, promote innovation along the entire value chain, support SMEs and boost research and the development of alternative materials and more environmentally friendly mining and production methods.

The legislation will set up economic incentives and a more stable and secure business framework for the deployment of mining and recycling projects, with faster and simpler authorisation procedures."

As a next step in this legislative process, the informal agreement must be approved by both EU Parliament and Council to become law. It will be put to a vote in the Industry, Research and Energy committee on 7 December 2023.

The Belfast Demonstration Plant location, has the ability for the Belfast facility to meet EU criterion based upon the Windsor Framework, providing dual market access across the EU and UK and provides a platform for the Company to explore both commercialisation of the technology in Belfast and also wider Europe.



About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

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Ionic Rare Earths

Ionic Rare Earths Limited Makuutu Infill Results Deliver Higher Grade Intersections

Perth, Australia (ABN Newswire) - Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to advise initial drill results from the Phase 5 resource infill and extension drilling at its 60 per cent owned Makuutu Heavy Rare Earths Project ("Makuutu" or "the Project") in Uganda.

The Company is progressing the development at the Makuutu Heavy Rare Earths Project through local Ugandan operating entity Rwenzori Rare Metals Limited ("RRM").

Assay results for 56 holes of the 128-hole Phase 5 resource infill and extension drilling program completed on Retention Licence (RL) 00007 have been received. The program is intended to increase resource estimation confidence from inferred to indicated status on resource areas A and B, and to test extensions of those areas to expand the mineral resource area. Figure 1* is a plan of the Makuutu 2022 Mineral Resource Estimate (MRE) and exploration target areas with MRE areas A and B located on the western end of the deposit located within RL00007.

Intersections compiled above the MRE lower cut-off of 200ppm Total Rare Earth Oxide less Cerium Oxide (TREO-CeO2) are listed in Table 1* and shown diagrammatically in plan view in Figure 2*.

Drilling was on a 200 metre spaced pattern with forty nine (49) of the drill holes being extensions to the MRE and seven (7) are MRE Area A infill holes. Figure 2* shows the core hole locations (diamond shape) with intersection thickness (point size) and TREO grade (point colour) with the reported 200 metre spaced holes with bold hole numbers and the previous 400m spaced holes in italic hole numbers. Previously reported regional exploration RAB drill holes are also shown (round points).

The 49 extension holes were drilled up to 1.8 kilometres west of the western boundary of MRE Area A, within the Makuutu mineralised trend. This extension drilling shows mineralisation continues beyond the MRE boundary with narrow intersections in low lying areas on the margins of the mineralised plateaus and increasing in thickness on the plateaus.

The resulted infill holes have generally shown thicker and higher-grade intervals than the original 400 metre spaced drill holes used to estimate the inferred resource. Best intersections include;

- RRMDD762, with 21.8 metres at 783ppm TREO from 4.7 metres depth; and
- RRMDD761, with 16.7 metres at 714ppm TREO from 4.7 metres depth.

Several of both extension and infill drill holes show high grade heavy rare earth (HREO) and critical rare earth (CREO) intersections including extension holes;

- RRMDD712, with 9.9 metres at 952ppm TREO including 430ppm HREO and 530ppm CREO;
- RRMDD713, with 6.7 metres at 1,008ppm TREO with 428ppm TREO and 483ppm CREO; and
- RRMDD767, with 9.9 metres at 1,163ppm TREO with 672ppm HREO and 641ppm CREO.

The elevated proportions of HREO and CREO coincide with weathered limonitic veining and alteration in the clay and underlying saprock. Furter investigations of these results is required to determine the extents of these high-grade zones.

The results from the remaining 72 drill holes are currently at the laboratory in Perth being analysed or in transit from Makuutu to Perth for analysis.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5K3XL569



About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Ionic Rare Earths Limited  REO Magnet Recycling Ramping up to 24/7 for Customer Samples

Ionic Rare Earths Limited REO Magnet Recycling Ramping up to 24/7 for Customer Samples

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to provide an update regarding its rare earth magnet recycling business Ionic Technologies International Ltd ("Ionic Technologies"), a 100% owned subsidiary based in Belfast UK.

Ionic Technologies is a global first mover in the recycling of Neodymium-Iron-Boron (NdFeB) permanent magnets to enable the creation of sustainable, traceable and sovereign Rare Earth supply chains.

Ionic Technologies has received multiple new enquiries regarding partnering with the Company to utilise its magnet recycling technology to secure sustainable rare earths supply. Ionic is now ramping up its capabilities and moving operations at its Demonstration Plant to 24 hours, 7 days a week production capacity, which will enable greater volumes of rare earths to be produced for samples to potential customers, and which will facilitate converting these discussions into commercial agreements.

Ionic Technologies has already successfully secured funding for two CLIMATES grants from the UK Government's Innovate UK totalling GBP2 million (A$3.90 million) (ASX 12 September 2023) which provides a significant endorsement of the Company and the technology. Ionic Technologies successful grant funding submissions centred on two CLIMATES projects:

1. in partnership with Ford Technologies (Ford) and Less Common Metals (LCM), Ionic Technologies will develop a traceable, circular supply chain of rare earths for application in EV motors within the UK; and

2. in partnership with the British Geological Survey, Ionic Technologies will complete a feasibility study and supply chain analysis for a commercial magnet recycling plant in Belfast.

Ionic Technologies' Demonstration Plant has already produced quantities of high purity (> 99.5%) neodymium (Nd) and dysprosium (Dy) rare earth oxides (REOs), as announced 19 June 2023. After initial process commissioning and production runs through Q3 2023, Ionic Technologies has installed additional processing equipment, and is in the final stages of upgrading the installed control system which is now undergoing processing commissioning and is expected to be completed by the end of 2023. Ionic Technologies is targeting 24/7 operations from early January 2024, with commercial production runs to support the LCM and Ford collaboration, and processing end of life magnet samples for other potential customers.

These additional supply chain engagement discussions have progressed based upon reverse enquiry post production of high purity REOs in June 2023. The Company is evaluating several significant opportunities across the rare earth supply chain, and progressing supply arrangements with leading businesses in the permanent magnet supply chain.

Technology Overview

Since its founding in 2015, as a spinout from Queens University Belfast (QUB), Ionic Technologies has developed processes for the separation and recovery of REEs from mining ore concentrates and waste permanent magnets.

The technology developed is a step up in efficient, non-hazardous, and economically viable processing with minimal environmental footprint.

Ionic Technologies proprietary technology provides a universal method for the recovery of high purity grade rare earth elements from lower quality and variable grade magnets, to be used in the manufacture of modern high-performance and high specification permanent magnets required to support substantial growth in both electric vehicle (EV) and wind turbine deployment.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/RP19U0V8



About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Ionic Rare Earths (ASX:IXR)

Ionic Rare Earths Limited Makuutu Phase 5 Tranche 2 Drill Results

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) advises on progress at its 60 per cent owned Makuutu Heavy Rare Earths Project ("Makuutu" or "the Project") in Uganda.

The Company is progressing the development at the Makuutu Heavy Rare Earths Project through local Ugandan operating entity Rwenzori Rare Metals Limited ("RRM").

IonicRE's Managing Director Mr Tim Harrison said the Phase 5 RAB Tranche 2 assay results confirmed the expected potential of the northwest tenement to provide additional growth potential for a much larger Makuutu Project in years to come.

"EL00257 has now confirmed clay-hosted rare earth mineralisation in 21 of 26 RAB holes drilled in this program.

"The Project now moves to metallurgical test work on a selection of sample intervals to map the potential of this tenement and EL00147, expected to add significantly to the Makuutu Project development plan.

"Our focus on the delivery of the Makuutu Heavy Rare Earths Project in Uganda positions us to provide a secure, sustainable, and traceable supply of magnet rare earth oxides. Along with our Belfast recycling facility, Makuutu is key to us harnessing our technology to accelerate mining, refining, and recycling of magnets and heavy rare earths that are critical for the energy transition, advanced manufacturing, and defence," Mr Harrison said.

The Tranche 2 results are from drilling located on Exploration Licence EL00257 (26 holes) and Retention Licence (RL) 00007 (5 holes), located at the western end of the extensive licence holding at Makuutu (see Figure 1*).

A total of 31 rotary air blast (RAB) holes were drilled across EL00257 and RL00007, with 26 holes recording intervals of regolith hosted rare earth mineralisation above the 2022 Mineral Resource Estimate (MRE) cut-off grade of 200 ppm Total Rare Earth Oxide minus Cerium oxide (TREO-CeO2).

(ASX 3 May 2022). Table 1* lists the intersection compilations and Figure 2* shows the location of the drill results.

EL00257 RAB Drilling

The RAB drilling on EL00257 is the first drilling to test this tenement. The aim of the drilling was to test the endowment of rare earth element (REE) in the regolith and determine the extent and thickness of mineralisation. This drilling has successfully confirmed zones of thick REE mineralisation on the northwestern half of the licence.

Results from the drilling (Figure 2*) show the northwestern half of the area contains greater thickness of regolith under hardcap with significant intersections including;

- 8 metres at 975 ppm TREO from 7 metres in RRMRB117;
- 20 metres at 865 ppm TREO from 6 metres in RRMRB115;
- 20 metres at 789 ppm TREO from 4 metres in RRMRB116;
- 24 metres at 781 ppm TREO from 4 metres in RRMRB129; and
- 20 metres at 756 ppm TREO from 4 metres in RRMRB120.

This area is interpreted to be underlain by the Iganga Suite granite basement rocks, an older and different protolith from the Makuutu deposit hosted in a Karoo age sedimentary basin.

RL00007 RAB Drilling

Five (5) RAB holes (RRMRB139 to 143) tested exploration target B1 which had produced significant intersections above a granite host from 2 broad spaced holes drilled in 2021 (RRMRB063 10 metres at 698 ppm TREO and RRMRB064 8 metres 512) (ASX 20 July 2021). These 2 holes were used to identify exploration target B1 with a target range of 15Mt to 45Mt with a grade range of 500 ppm TREO to 700 ppm TREO (see Table 2*).

The results of these Phase 5 RAB holes have shown the mineralisation to be variable in thickness and grade with a best intersection in RRMRB142 of 18 metres at 612 ppm TREO from 6 metres. As a result, the exploration Target is not expected to change.

Resource Infill Area A and B

Resource infill drilling is ongoing on Mineral Resource Estimate (MRE) areas A and B (refer Figure 2* green points results pending, red points awaiting drilling), with the drilling designed to increase resource confidence from inferred to indicated status. To date 103 holes (2,032 metres) have been drilled and it is expected that the program will be completed later this month.

Exploration Target Drilling

As detailed earlier, the existing Makuutu Exploration Target (ASX 1 June 2022), which is additional to the current Makuutu MRE, indicated a range for additional potential mineralisation at Makuutu estimated at;

216 - 535 million tonnes grading 400 - 600 ppm TREO*

*This Exploration Target is conceptual in nature but is based on reasonable grounds and assumptions. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The 2021 Phase 3 RAB reconnaissance drilling campaign tested multiple targets in the Makuutu area and identified clay hosted REE mineralisation within, and outside, the sedimentary basin that contains the Makuutu resource.

The success of that program allowed a revision of the Exploration Target. The revised Exploration Target was separated into target areas within the sedimentary basin, and those outside the basin with clay hosted REE mineralisation derived from a mixture of rock types including granite, granodiorite and some mafic rocks.

The Exploration Target ranges are listed in Table 2* and locations shown on Figure 1*.

The aim of the exploration program in the target areas is to establish further input ahead of the next phase to progress to Inferred level resources in accordance with the guidelines of the JORC code.

Pending drill assays are aimed to initially determine the endowment of REE in the area with the goal of generating additions to an updated Exploration Target following indicative extraction test work of new areas.

Metallurgical Testwork

Extraction test work has been initiated to evaluate the economic potential of this mineralisation drilled across EL00147, EL00257 and RL00007.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/NTFUSRHK



About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

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Ucore Announces Closing of Final Tranche of Upsized Debenture Offering

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Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the closing of a second and final tranche (the " Second Closing ") of its previously announced non-brokered private placement of convertible debentures (the " Debentures ") in the amount of $480,000 for cumulative gross proceeds of $1.99 million (the " Offering ").  The net proceeds from the Offering are to be used for general working capital purposes.

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Eclipse Metals

Maiden Inferred Resource Declared for the Gronnedal Rare Earth Project, Greenland

Eclipse Metals Limited (ASX: EPM) (Eclipse or the Company) is pleased to announce a maiden inferred Mineral Resource for the Grønnedal REE deposit which forms part of Eclipse’s Ivigtût project in southwest Greenland. The inferred resource estimate incorporates results from Eclipse’s initial drilling and trenching program completed in 2023.

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NeoTerrex Samples 9.21% TREO at Mount Discovery

NeoTerrex Samples 9.21% TREO at Mount Discovery

NeoTerrex Minerals Inc. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to report on surface sampling results at its flagship, 11,187-hectare, Mount Discovery project located in southwestern Quebec (the "Property"), as well as provide an update on preparations for a winter drill program.

Highlights

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Ucore Welcomes Canadian Government Officials to its Kingston Ontario CDF for an NRCan Funding Announcement

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to host Canadian Government officials at its RapidSX™ Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, for the formal announcement of $4.2 million of funding through Natural Resources Canada's ("NRCan") Critical Minerals Research, Development and Demonstration ("CMRDD") program. This funding program was originally announced by Ucore on November 20, 2023.

Today, Mark Gerretsen, Member of Parliament for Kingston and the Islands, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a $4.2-million investment to Ucore Rare Metals Inc. This investment will help scale up and demonstrate the commercial efficacy of Ucore's pending patent and Canadian-developed RapidSX™ rare earth element separation technology platform under rigorously simulated commercial conditions.

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ChemX Materials Limited

ChemX Granted Australian Patent for HiPurA® HPA

ChemX Materials (ASX:CMX) (ChemX or the Company), an Australian based high purity critical materials developer, has been granted an Australian Patent for its disruptive HPA Processing technology.

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Ucore Announces Closing of Debenture Offering

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce a closing of its previously announced non-brokered private placement of new convertible debentures for aggregate gross proceeds of $1.5 million (the "Offering"). Proceeds from the Offering are to be used for general working capital purposes.

Pursuant to the Offering, the Company has issued 1,510 convertible debentures (the "Debentures") at a price of $1,000 per Debenture. The Debentures bear interest at a rate of 7.5%, payable semi-annually on the last day of June and December of each year, commencing on June 30, 2024. The Debentures have an approximately two-year term with the principal amount being due to be repaid in full by the Company on January 31, 2026. The Debentures are unsecured. At any time during the term of the Debentures, a holder may elect to convert the outstanding net principal amount, or any portion thereof, into units at a conversion price of $0.75 per unit. Each unit shall consist of one common share of the Company and one-half of a warrant, with each whole warrant entitling the holder to acquire a common share at an exercise price of $1.05 for a period ending on the maturity date of the Debentures. The issuance of the Debentures, the units and any underlying common shares has been completed on a private placement and prospectus exempt basis such that the issuances shall be exempt from any applicable prospectus and securities registration requirements. The Company as paid a total of $67,750 finder fees and a total of 116,667 finder warrants in connection with the Offering. Each finder warrant entitles the holder to acquire one common share of the Company at a price of $0.75 for a period of 24 months from the date of issuance.

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