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

14.04.2025 | GlobeNewswire

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

Amargosa Bauxite Project

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

High-Grade Gallium Discovery

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

Amargosa Bauxite-Gallium Project Development

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

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

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

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

A link to the full announcement can be found here.

Contacts

Bernardo Da Veiga, Managing Director and CEO

investors@brazilianrareearths.com
www.brazilianrareearths.com

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