Accelerating economic evaluation: REA has commenced an IA, which will outline an initial mine plan, rare earth annual production potential, metallurgical review, infrastructure assessment, permitting overview and preliminary project economics, with completion targeted for mid-2027.
Leading Ionic Adsorption Clay ("IAC") rare earth district: Constellation consists of 21 mineral tenements/titles covering approximately 59.5 km² within the Poços de Caldas alkaline complex, with the resource currently defined on approximately 16 km² of that package, in proximity to advanced-stage rare earth projects in one of the world's most significant districts for ionic adsorption clay and heavy rare earth development.
Large inferred mineral resource: 266.2 million tonnes at 2,637 ppm total rare earth oxides ("TREO") at a 1,000 ppm TREO cut-off, with magnet rare earths neodymium-praseodymium ("NdPr") and dysprosium and terbium ("DyTb") making up approximately 21% and 1% of the TREO basket, respectively.