Rare Earths Americas Expands Homer-A Mineralized Zone by More Than 60% and Identifies Strongest Heavy Rare Earth Enrichment to Date

Rare Earths Americas, Inc. (“REA” or the “Company”) today announced additional drill results from its 100%-owned Homer-A Project within Brazil’s Goiás Alkaline Province. These results follow the initial drill results reported on September 23, 2026 (see here) and include assays for eight additional reverse circulation (“RC”) holes, the remaining assays for one previously reported hole, and additional assays for one other hole.

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Mineralized Zone Grows by More Than 60%; Length Doubles to About 4.3 km: The mineralized zone now covers about 3.5 km² (865 acres), up from about 2.15 km² (531 acres) reported in September 2026. The farthest mineralized holes are about 4.3 km apart along the NW-SE direction, roughly double the 2.1 km reported in September, and about 1.7 km apart along the NE-SW direction (see Figure 1). Of the 20 holes drilled within the primary geochemical anomaly with assays received to date, 19 intersected mineralization above the cut-off, and the Company believes the zone remains open for further expansion.

Assays for a portion of one hole are still pending and will be reported once received (see Notes on Calculation Parameters). Assays have also been received for the deeper portion of a hole first reported in September 2026, when results covered only the top 24 meters. That newly reported portion returned an additional 7 meters at 1,816 ppm TREO + Sc from 27 meters with 33.0% neodymium and praseodymium oxides (“NdPr”).

Heavy Rare Earth Enrichment at the South-Eastern Margin: Several holes drilled along the south-eastern margin of the alkaline complex show a marked increase in the HREO share. Multiple mineralized intervals in this sector report HREO above 30% of TREO + Sc, and the highest-grade zones exceed 50%, with DyTb reaching up to 8.7% of TREO + Sc in individual samples. The Company is evaluating the geological controls on this enrichment as drilling continues.

• RC-TGA-0019A & RC-TGA-0018: Highest Heavy Rare Earth Proportions to Date

  Intersected near-surface zones in which HREO made up the majority of TREO + Sc, exceeding 50% over the main intercepts, with DyTb proportions that are the highest recorded at Homer-A to date.

Highlights	From (m)	To (m)	Interval (m)	Grade	Key Assemblage / Credits
Main Intercept	21	29	8	2,173 ppm TREO+Sc (2,118 ppm TREO)	14.4% NdPr, 53.1% HREO (Incl. 6.1% DyTb)
Including	24	26	2	4,402 ppm TREO+Sc (4,340 ppm TREO)	9.9% NdPr, 71.3% HREO (Incl. 8.2% DyTb)
And High-Grade Y₂O₃	24	26	2	2,001 ppm Y₂O₃	Representing 45.5% of TREO+Sc
Highest TREO	25	26	1	6,452 ppm TREO+Sc (6,387 ppm TREO)	8.6% NdPr, 76.9% HREO (Incl. 8.7% DyTb)

Table 1 – Hole RC-TGA-0019A

Highlights	From (m)	To (m)	Interval (m)	Grade	Key Assemblage / Credits
Main Intercept	14	19	5	3,370 ppm TREO+Sc (3,293 ppm TREO)	15.7% NdPr, 50.6% HREO (Incl. 5.1% DyTb)
Including	17	19	2	5,335 ppm TREO+Sc (5,268 ppm TREO)	10.7% NdPr, 69.0% HREO (Incl. 6.6% DyTb)
And High-Grade Y₂O₃	17	19	2	2,502 ppm Y₂O₃	Representing 46.9% of TREO+Sc
Highest TREO	17	18	1	6,746 ppm TREO+Sc (6,678 ppm TREO)	9.3% NdPr, 75.0% HREO (Incl. 7.0% DyTb)

Table 2 – Hole RC-TGA-0018

• RC-TGA-0021: Thick Heavy Rare Earth-Enriched Zone

  Intersected a continuous 12-meter zone of near-surface mineralization combining strong grades with a high HREO share, located between the high-HREO intercepts of RC-TGA-0018 and the central portion of the tested envelope.

Highlights	From (m)	To (m)	Interval (m)	Grade	Key Assemblage / Credits
Main Intercept	22	34	12	2,405 ppm TREO+Sc (2,351 ppm TREO)	21.0% NdPr, 34.7% HREO (Incl. 3.7% DyTb)
Including	23	29	6	3,103 ppm TREO+Sc (3,056 ppm TREO)	22.5% NdPr, 32.1% HREO (Incl. 3.6% DyTb)
And High-Grade Y₂O₃	26	29	3	1,032 ppm Y₂O₃	Representing 31.5% of TREO+Sc
Highest TREO	28	29	1	3,915 ppm TREO+Sc (3,880 ppm TREO)	13.7% NdPr, 63.9% HREO (Incl. 6.3% DyTb)

Table 3 – Hole RC-TGA-0021

Niobium and Tantalum Potential Extended (Up to 1,230 ppm Nb₂O₅ and 72 ppm Ta₂O₅): Hole RC-TGA-0015 intersected niobium and tantalum 270 meters southeast of RC-TGA-0014, supporting potential continuity. A 5-meter interval averaged 906 ppm Nb₂O₅ and 52 ppm Ta₂O₅ within a broader rare earth intercept of 7 meters at 3,184 ppm TREO + Sc. A single 1-meter sample returned 1,230 ppm Nb₂O₅ and 72 ppm Ta₂O₅, the highest tantalum oxide grade reported at Homer-A to date. Further studies will assess their potential recovery as by-products.

• RC-TGA-0015: Stacked Rare Earths and Niobium-Tantalum Overlap

  Drilled approximately 270 meters south-east of RC-TGA-0014, in the west-central part of the drill-tested envelope, this hole demonstrates a multi-layered mineralized profile where high-grade rare earths coincide with niobium and tantalum mineralization.

Highlights	From (m)	To (m)	Interval (m)	Grade	Key Assemblage / Credits
Upper Intercept	29	36	7	3,184 ppm TREO+Sc (3,167 ppm TREO)	20.7% NdPr, 6.4% HREO (Incl. 1.0% DyTb)
Nb-Ta Overlap	30	35	5	906 ppm Nb₂O₅	52 ppm Ta₂O₅
Second Intercept	37	42	5	2,530 ppm TREO+Sc (2,515 ppm TREO)	19.9% NdPr, 6.6% HREO (Incl. 1.0% DyTb)
Nb-Ta Overlap	38	41	3	956 ppm Nb₂O₅	54 ppm Ta₂O₅
Lower Intercept	89	99	10	2,225 ppm TREO+Sc (2,212 ppm TREO)	19.2% NdPr, 6.6% HREO (Incl. 1.0% DyTb)
Nb-Ta Overlap	96	98	2	849 ppm Nb₂O₅	48 ppm Ta₂O₅

Table 4 – Hole RC-TGA-0015

Supportive Location and Straightforward Land Access: Homer-A is in Goiás, one of Brazil’s established mining and agricultural states. The project area is mostly cleared farmland used for soybean and corn, and only three private landowners control surface access. The terrain is broad and flat to gently rolling, which helps drilling programs move efficiently. To the Company’s knowledge, no conservation units or protected environmental areas overlap the project boundary.

Technical Review: Target A Complex and Fertile System

Results generated to date focus on Homer-A, one of three 100%-owned alkaline-carbonatite-type anomalies in Goiás, Brazil (Figure 9). Homer-A lies along the “Azimuth 125” structural corridor, a regional geological trend known for hosting major niobium, phosphate and rare earth deposits. Initial drilling indicates consistent geochemistry and a rare earth-rich (“fertile”) magmatic system, despite the varied magmatic phases typical of these intrusive systems.

Homer-A’s geology points to an enriched source of rare earths, consistent with known alkaline-carbonatite rare earth districts. Over time, intense tropical weathering has broken down the original rocks and concentrated rare earths in the overlying soil and saprolite—soft, deeply weathered rock. Drilling guided by the Company’s geological model continues to intersect mineralization across the areas tested to date.

Results also point to distinct zones enriched in dysprosium and terbium (DyTb), critical elements used in high-performance magnets. DyTb accounts for more than 2% of the combined TREO+Sc content, rising to approximately 4% in higher-grade samples and 5.8% within a heavy rare earth-rich zone along the eastern margin, with individual samples in these latest results reaching up to 8.7%. These results highlight an emerging cluster of strong DyTb enrichment within Homer-A.

The eastern and southeastern margin is now a priority for further exploration. The zone is interpreted to remain open in these directions, where the soil geochemical anomaly extends beyond the reported drill results, pointing to additional expansion potential.

Near the center of the complex, holes RC-TGA-0014 and RC-TGA-0015 also intersected niobium and tantalum alongside rare earths, providing additional critical mineral potential for future evaluation.

With a growing mineralized footprint and an emerging DyTb-rich zone, REA remains on schedule to complete its 15,000-meter drilling program by year-end and continues to target a maiden mineral resource estimate in 2027.

About Rare Earths Americas

Rare Earths Americas, Inc. is an exploration stage company advancing a portfolio of critical minerals projects focused on high-grade rare earth mineral assets in the United States and Brazil. REA’s portfolio includes three material projects, which the Company believes positions REA as a future potential cornerstone of non-Chinese rare earth supply, aligning with Western industrial and national security priorities. Rare earth elements are essential for advanced U.S. industries including robotics, electric vehicles, energy, defense, and consumer electronics.

Forward-Looking Statements & Technical Notes

This communication 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. When used in this communication, the words “plan,” “target,” “anticipate,” “believe,” “could,” “designed to,” “discovery,” “estimate,” “evaluate,” “expect,” “focused on,” “intend,” “may,” “opportunities,” “potential,” “seeks,” “should,” “will,” “would” and similar expressions are intended to identify such forward-looking statements. Any express or implied statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements.

Forward-looking statements in this communication include, but are not limited to: the characterization of Homer-A as a rare earth discovery or the confirmation of a mineralized system; the potential for mineralization at the Homer Project, including the potential scale, continuity, grade, and distribution of rare earth, niobium, tantalum, and scandium mineralization; the possibility that ongoing or future exploration activities, including drilling, sampling, metallurgical testing, geological mapping, and related technical work, may improve the Company’s understanding of the project’s geology and mineral potential; the Company’s plans to complete the current drill program by year-end and to publish an initial Mineral Resource Estimate for Homer-A in 2027; expectations regarding the potential contribution of niobium, tantalum, and scandium to overall project value; characterizations of the economic significance of the rare earth assemblage, including statements regarding the relative value of the heavy rare earth basket, the potential for polymetallic value, and comparisons to other projects; the possibility that metallurgical testing may confirm whether mineralization is amenable to ionic clay recovery methods or economic extraction; the possibility that future exploration results may support the delineation of a mineral resource; the Company’s plans to continue exploration and technical evaluation activities; the potential advancement of the project through future exploration and development stages; and the Company’s strategic objectives relating to the exploration and development of critical mineral opportunities.

The Homer Project is currently at an early-stage exploration phase. No mineral resource or mineral reserve has been defined on the property. The Company has not yet determined the nature, continuity, extent, grade, economic significance, or metallurgical characteristics of any mineralization that may be present. While references to “clay-hosted” mineralization reflect the macroscopic description of the weathered profile, the Company has not yet established whether the mineralization is associated with ionic clay, hard-rock, or any other deposit type. Furthermore, as no metallurgical leach testing has been completed, there can be no assurance that the mineralization will be amenable to economic extraction or typical ionic clay recovery methods.

There is no certainty that continued exploration will result in the discovery of economically significant mineralization, the definition of a mineral resource, the confirmation of any exploration model, the completion of the planned drilling program on time or within budget, or the advancement of the project toward development. The characterization of initial results as a “discovery” reflects the Company’s interpretation of early-stage exploration data and does not constitute a determination that the mineralization is economically viable. Exploration results obtained from surface sampling, drilling, geophysical surveys, geological interpretations, or other exploration methods may not be indicative of future results. The extent, continuity, grade distribution, metallurgical characteristics, and economic significance of any mineralization have not yet been established and remain subject to additional drilling, resource estimation, technical studies, and economic evaluation.

These forward-looking statements are based on assumptions and expectations that may not prove to be accurate and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those described in such statements. These risks and uncertainties include, among others: the uncertainty inherent in early-stage mineral exploration; geological, technical, and interpretation risks; uncertainty regarding the presence, continuity, grade, and extent of mineralization; the possibility that exploration programs may not achieve their objectives; the absence of mineral resource estimates; uncertainties relating to whether metallurgical testing will confirm favorable processing characteristics, including whether mineralization is ionic clay-hosted and amenable to leaching; the risk that niobium, tantalum, and scandium mineralization may not prove to be of economic significance; the risk that peer comparisons may not be meaningful due to differences in analytical methods, cut-off grades, and project maturity; fluctuations in commodity prices, including the prices of dysprosium, terbium, neodymium, praseodymium, niobium, tantalum, and scandium; regulatory, environmental, and permitting risks specific to mining operations in Brazil; political, economic, and trade policy risks in Brazil and the United States, including tariff and export-related risks; currency exchange rate fluctuations between the U.S. Dollar and the Brazilian Real; availability of financing on acceptable terms; our need for substantial additional capital; the state of the economy and financial markets generally; market conditions; and general economic, political, and business risks. The foregoing list is not exhaustive.

Investors are cautioned that early-stage exploration projects carry a high degree of uncertainty and that the presence of anomalous geochemical values, favorable geology, or preliminary exploration results does not necessarily indicate the existence of an economically viable mineral deposit.

For additional information regarding factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the risk factors included in the Company’s Rule 424(b)(4) Prospectus filed on May 7, 2026, which are available at www.sec.gov. We caution investors not to place undue reliance on the forward-looking statements contained in this communication. These statements speak only as of the date of this communication, and we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Data Verification and QA/QC

RC drilling operations conducted at the Homer Project were completed under the supervision of the Company’s technical team. Drill samples were logged, photographed, and processed in accordance with industry-standard exploration practices. Continuous samples were collected at standard one-meter intervals, an inherent feature of the RC drilling method, and submitted to ALS for preparation and comprehensive geochemical analysis.

Sample preparation was carried out by ALS Laboratory Group in Goiânia, Brazil, under the PREP-31H protocol (crushing, splitting, and pulverizing), with geochemical analyses completed using lithium borate fusion (ICP-AES/MS), four-acid digestion, aqua regia, LECO furnace assays, and specialized techniques for halogens and precious metals.

The Company’s quality assurance and quality control (“QA/QC”) program includes the insertion of control samples within analytical batches of 50 samples, representing 12% of the total samples in each batch. Each batch incorporates one blank sample from ITAK, two Certified Reference Materials (“CRMs”) from OREAS, a pulp duplicate, a coarse duplicate, and a field duplicate split directly at the Company’s sample preparation facility.

To date, blank samples have returned values at or near detection limits, indicating no material contamination during sample preparation or analysis. In addition, CRM results have demonstrated a high level of accuracy, with the vast majority of rare earth assays falling well within acceptable performance limits. As is normal in any drilling and assay campaign, isolated results for individual elements occasionally fall outside the acceptable control limits; these are investigated and the affected samples are submitted for re-analysis as part of routine QA/QC procedures. None of these isolated occurrences affects the integrity of the database or the results reported in this release. Furthermore, field, coarse, and pulp duplicates have shown strong correlation and repeatability. The overall QA/QC results confirm the reliability and integrity of the reported geochemical data, consistent with industry best practices.

Qualified Person Information

Leandro Coracini Ollita, Qualified Person registered with the Brazilian Commission for Resources and Reserves (CBRR), Registration No. 023160, who is a “qualified person” within the meaning of Item 1300 of Regulation S-K (“S-K 1300”), has reviewed and approved the disclosure of technical information contained in this press release. Mr. Ollita confirms that he has managed and monitored the Homer-A project on site since the first stages of exploration. His continuous supervision encompasses the early exploratory works through to the execution of the reverse circulation (RC) and ongoing drilling programs, including the rigorous sampling protocols and the concurrent QA/QC campaigns, thereby attesting to the reliability of the geochemical assay results disclosed herein.

The information provided in this public statement constitutes initial “Exploration Results” (as defined in S-K 1300). At this stage, it is technically premature for the reader to use the presented information to derive estimates of tonnage and grade or quality. These Exploration Results cannot currently form part of a formal declaration of Mineral Resources or Mineral Reserves (as defined in S-K 1300), and they must not be presented in a way that unreasonably implies the discovery of potentially economic mineralization. While these exploration results are encouraging, they do not automatically translate into Mineral Resources or Mineral Reserves. The definition of a Mineral Resource requires the application of specific modeling, geostatistical, and estimation techniques, which can only be reliably applied once the drill grid spacing is deemed adequate, particularly in mineral deposits that may exhibit high geological or grade variability. Mr. Ollita is not independent of the Company as he is an employee of Alpha Minerals Brazil Participações Ltda, a wholly-owned Brazilian subsidiary of the Company.

Appendix A – Significant Drill Intercepts

Note: for additional drilling information associated with this release, see the Supplemental Technical Data section of the REA investor website.

Note: HREO (heavy rare earth oxides) includes europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu) and yttrium (Y).

Hole ID: RC-TGA-0009 Collar Coordinates: 511098.30 E / 8117403.40 N | Elevation: 764.16 m Dip/Azimuth: Vertical | Total Depth: 80.0 m | Method: Reverse Circulation (RC) Note: Results for the 0.0 to 24.0 m interval were reported on September 23, 2026. This table reports the remainder of the hole.
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)
Interval 3	27	34	7	1816	1627	599	33.0%	292	16.1%	40	2.2%
Highest TREO	31	32	1	4050	3902	1701	42.0%	849	21.0%	119	2.9%

Table 5 – Hole ID: RC-TGA-0009 Highlights

Hole ID: RC-TGA-0015 Collar Coordinates: 511085.63 E / 8116599.27 N | Elevation: 759.76 m Dip/Azimuth: Vertical | Total Depth: 106.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Nb₂O₅ (ppm)	Ta₂O₅ (ppm)
Interval 1	29	36	7	3184	3167	660	20.7%	205	6.4%	31	1.0%	784	43
including	30	35	5	3895	3881	813	20.9%	249	6.4%	38	1.0%	906	52
and incl.	31	35	4	4493	4480	944	21.0%	290	6.5%	44	1.0%	948	55
Interval 2	37	42	5	2530	2515	503	19.9%	167	6.6%	25	1.0%	795	43
including	38	41	3	3162	3145	636	20.1%	204	6.5%	31	1.0%	956	54
Interval 3	89	99	10	2225	2212	428	19.2%	148	6.6%	23	1.0%	649	34
including	94	99	5	2581	2567	501	19.4%	168	6.5%	26	1.0%	745	41
and incl.	96	98	2	2726	2713	520	19.1%	180	6.6%	28	1.0%	849	48
Highest TREO	32	33	1	5413	5402	1139	21.0%	327	6.0%	51	0.9%	1230	72
Highest Nb₂O₅	32	33	1	5413	5402	1139	21.0%	327	6.0%	51	0.9%	1230	72

Table 6 – Hole ID: RC-TGA-0015 Highlights

Hole ID: RC-TGA-0016 Collar Coordinates: 512955.26 E / 8116391.69 N | Elevation: 784.31 m Dip/Azimuth: Vertical | Total Depth: 109.0 m | Method: Reverse Circulation (RC) Note: Assays for the 0.0 to 15.0 m interval are pending (analytical certificate not yet issued).
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)
Interval 1	23	26	3	3373	3227	805	23.9%	421	12.5%	62	1.8%
including	24	26	2	4302	4167	1156	26.9%	613	14.3%	91	2.1%
Interval 2	27	31	4	1888	1779	587	31.1%	334	17.7%	45	2.4%
Highest TREO	25	26	1	5310	5179	1465	27.6%	834	15.7%	121	2.3%

Table 7 – Hole ID: RC-TGA-0016 Highlights

Hole ID: RC-TGA-0017 Collar Coordinates: 513277.03 E / 8115962.84 N | Elevation: 777.67 m Dip/Azimuth: Vertical | Total Depth: 120.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Y₂O₃ (ppm)	Y₂O₃ (% of TREO+Sc)
Interval 1	13	20	7	1451	1433	248	17.1%	65	4.5%	10	0.7%	27	1.9%
Interval 2	33	35	2	1393	1383	338	24.2%	417	30.0%	45	3.3%	261	18.8%
Highest TREO	13	14	1	2845	2822	492	17.3%	110	3.9%	19	0.7%	41	1.4%

Table 8 – Hole ID: RC-TGA-0017 Highlights

Hole ID: RC-TGA-0018 Collar Coordinates: 513525.84 E / 8115412.75 N | Elevation: 766.65 m Dip/Azimuth: Vertical | Total Depth: 120.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Y₂O₃ (ppm)	Y₂O₃ (% of TREO+Sc)
Interval 1	14	19	5	3370	3293	530	15.7%	1704	50.6%	170	5.1%	1130	33.5%
including	17	19	2	5335	5268	570	10.7%	3681	69.0%	351	6.6%	2502	46.9%
Interval 2	66	68	2	1144	1103	241	21.0%	232	20.3%	28	2.4%	137	11.9%
Highest TREO	17	18	1	6746	6678	625	9.3%	5058	75.0%	472	7.0%	3480	51.6%

Table 9 – Hole ID: RC-TGA-0018 Highlights

Hole ID: RC-TGA-0019A Collar Coordinates: 513535.85 E / 8114987.57 N | Elevation: 757.62 m Dip/Azimuth: Vertical | Total Depth: 120.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Y₂O₃ (ppm)	Y₂O₃ (% of TREO+Sc)
Interval 1	21	29	8	2173	2118	313	14.4%	1153	53.1%	132	6.1%	727	33.4%
including	24	26	2	4402	4340	437	9.9%	3139	71.3%	359	8.2%	2001	45.5%
Highest TREO	25	26	1	6452	6387	553	8.6%	4961	76.9%	562	8.7%	3188	49.4%

Table 10 – Hole ID: RC-TGA-0019A Highlights

Hole ID: RC-TGA-0020 Collar Coordinates: 513272.88 E / 8115204.22 N | Elevation: 765.64 m Dip/Azimuth: Vertical | Total Depth: 120.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Y₂O₃ (ppm)	Y₂O₃ (% of TREO+Sc)
Interval 1	12	21	9	2350	2292	493	21.0%	154	6.5%	26	1.1%	63	2.7%
including	16	19	3	4110	4040	913	22.2%	218	5.3%	43	1.0%	72	1.7%
Interval 2	22	25	3	1373	1349	376	27.4%	253	18.4%	36	2.6%	131	9.6%
Interval 3	30	32	2	2710	2633	338	12.5%	1629	60.1%	146	5.4%	1140	42.1%
Interval 4	54	56	2	1060	1023	223	21.0%	112	10.6%	15	1.4%	59	5.5%
Interval 5	106	109	3	1076	1036	117	10.9%	90	8.3%	12	1.1%	49	4.6%
Highest TREO	17	18	1	4736	4657	1074	22.7%	249	5.3%	49	1.0%	79	1.7%

Table 11 – Hole ID: RC-TGA-0020 Highlights

Hole ID: RC-TGA-0021 Collar Coordinates: 513097.06 E / 8115401.42 N | Elevation: 769.15 m Dip/Azimuth: Vertical | Total Depth: 81.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Y₂O₃ (ppm)	Y₂O₃ (% of TREO+Sc)
Interval 1	19	21	2	1401	1217	232	16.6%	57	4.1%	9	0.7%	22	1.6%
Interval 2	22	34	12	2405	2351	504	21.0%	835	34.7%	89	3.7%	530	22.0%
including	23	29	6	3103	3056	697	22.5%	997	32.1%	111	3.6%	618	19.9%
Highest TREO	28	29	1	3915	3880	538	13.7%	2502	63.9%	246	6.3%	1676	42.8%

Table 12 – Hole ID: RC-TGA-0021 Highlights

Hole ID: RC-TGA-0022 Collar Coordinates: 512903.97 E / 8115599.82 N | Elevation: 772.03 m Dip/Azimuth: Vertical | Total Depth: 78.0 m | Method: Reverse Circulation (RC)
Highlights	From (m)	To (m)	Interval (m)	TREO+Sc (ppm)	TREO excl. Sc (ppm)	NdPr (ppm)	NdPr (% of TREO+Sc)	HREO (ppm)	HREO (% of TREO+Sc)	DyTb (ppm)	DyTb (% of TREO+Sc)	Y₂O₃ (ppm)	Y₂O₃ (% of TREO+Sc)
Interval 1	24	28	4	1630	1415	201	12.4%	72	4.4%	11	0.7%	31	1.9%
Interval 2	31	35	4	1722	1621	352	20.4%	563	32.7%	58	3.4%	363	21.1%
including	32	34	2	2212	2125	412	18.6%	885	40.0%	87	3.9%	589	26.6%
Highest TREO	33	34	1	2704	2583	405	15.0%	1387	51.3%	130	4.8%	950	35.1%

Table 13 – Hole ID: RC-TGA-0022 Highlights

Hole ID: RC-TGA-0012 Collar Coordinates: 511485.92 E / 8116989.24 N | Elevation: 774.50 m Dip/Azimuth: Vertical | Total Depth: 120.0 m | Method: Reverse Circulation (RC)

No significant intercepts above the 1,000 ppm TREO+Sc cut-off.

Table 14 – Hole ID: RC-TGA-0012 Highlights

Notes on Calculation Parameters:

• TREO+Sc (Total Rare Earth Oxides plus Scandium) is calculated based on the IUPAC definition of rare earth metals, comprising the lanthanide series, yttrium (Y), and scandium (Sc). TREO excl. Sc represents the total rare earth oxides excluding scandium, while retaining yttrium.

• HREO (Heavy Rare Earth Oxides) is defined as the sum of rare earth oxides excluding cerium (Ce), lanthanum (La), praseodymium (Pr), neodymium (Nd), samarium (Sm), and scandium (Sc). Yttrium (Y₂O₃) is formally included within the HREO total.

• Composite Calculation (TREO): Reported intervals are generally calculated utilizing a strictly applied 1,000 ppm TREO+Sc cut-off grade, a minimum composite length of 2.0 meters, and a maximum consecutive internal dilution of 2.0 meters (triggering a sub-cut-off limit of 700 ppm TREO+Sc).

• Composite Calculation (Sc₂O₃): Scandium-only intervals (reported as Sc₂O₃ Interval) are calculated independently from TREO intercepts, utilizing a dedicated 400 ppm Sc₂O₃ cut-off grade.

• Including: “including” and “and incl.” rows are higher-grade sub-intervals reported within a main intercept, comprising consecutive samples of materially higher grade than the host intercept. They are not additional intervals and are not additive to the main intercept.

• Nb-Ta Overlap: Niobium-tantalum intervals are calculated on Nb₂O₅ using a 700 ppm Nb₂O₅ cut-off grade, a minimum composite length of 2.0 meters and a maximum consecutive internal dilution of 2.0 meters (sub-cut-off limit of 600 ppm Nb₂O₅). Ta₂O₅ grades are the length-weighted averages over the same intervals.

• Proportional Ratios: All reported percentages (NdPr, HREO, DyTb, Y₂O₃, and Sc₂O₃) are calculated relative to the overarching TREO+Sc total for the respective interval.

• True Thickness: All referenced holes were drilled vertically (-90° dip). Given the sub-horizontal geometry of the weathered soil and saprolite profile hosting the mineralization, reported downhole intervals are interpreted to closely approximate true thickness.

• Highest Intervals: “Highest interval” represents the absolute peak 1.0-meter sampled interval for the respective target commodity within a given drill hole.

• Pending Assays: The 0.0 to 15.0 m portion of hole RC-TGA-0016 belongs to a sample batch for which the analytical certificate has not yet been issued. This interval is excluded from the reported composites and will be reported once results are received.

• Technical Note for REO reporting in this press release: TREO: Refers to the total rare earth oxides comprising the 14 naturally occurring lanthanide elements (excluding radioactive promethium), plus yttrium. In the body tables, TREO is shown in brackets next to TREO+Sc; in Appendix A, the same value is labeled “TREO excl. Sc” for clarity. TREO+Sc: Refers to TREO with the addition of scandium oxide, aligned with the IUPAC definition classifying scandium as a rare earth metal alongside yttrium and the lanthanides. NdPr: Refers to neodymium and praseodymium oxides, which are critical light magnetic rare earths. DyTb: Refers to dysprosium and terbium oxides, which are premium heavy magnetic rare earths. HREO: Refers to heavy and medium-heavy rare earth oxides, including europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, and yttrium (excluding scandium).

Appendix B

The following Appendix B sections provide general background information on the markets for rare earths, niobium, and tantalum. This information is derived from publicly available third-party sources and is included for educational context only.

It is not intended as, and should not be construed as, an assessment of the economic viability of the Homer Project or any specific mineralization identified to date.

What are Rare Earths?

Rare earth elements are a group of 17 specialty metals critical to a wide range of advanced and everyday technologies. They are used in high-performance permanent magnets, particularly neodymium-iron-boron (NdFeB) magnets, which enable high strength and efficiency in applications such as robotics, electric vehicles, defense systems, wind turbines, and consumer electronics. In simple terms, motion generated by electricity is often powered by NdFeB magnets, making rare earths essential inputs in everyday items, from the motor that raises and lowers a car window to the motors used in drones and humanoid robots.

Of the 17 rare earth elements, neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb) are the key materials used in high-performance permanent magnets. Dy and Tb are particularly valuable due to their ability to enhance magnet performance at high temperatures.

According to Adamas Intelligence, China accounts for over 90% of global Dy and Tb production. This concentration has increased the strategic importance of developing new rare earth projects in other jurisdictions to support supply chain diversification and long-term demand growth.

What is Niobium?

Niobium (Nb) is a specialty metal primarily used as a microalloying element in high-strength low-alloy (HSLA) steels. Even small additions can significantly improve strength, toughness, and corrosion resistance while reducing overall steel weight. As a result, niobium is widely used in pipelines, construction materials, automotive components, and infrastructure. According to the U.S. Geological Survey (USGS), steel applications account for approximately 77% of U.S. domestic niobium consumption. Demand has remained relatively resilient because it is linked to long-cycle sectors such as infrastructure development, energy pipelines, and automotive lightweighting trends. Moreover, there is no readily available substitute that can deliver the same performance at a comparable cost.

The remainder of niobium demand comes from superalloys, typically in the form of high-purity ferroniobium and nickel-niobium. These materials are used in nickel-, cobalt-, and iron-based alloy systems for demanding applications such as jet engine components, rocket assemblies, and high-temperature, corrosion-resistant equipment.

On the supply side, global niobium mine production in 2025 was estimated at 112,000 tonnes, with Brazil accounting for roughly 93% of total output. This level of concentration means that niobium lacks the diversified, multi-country supply base characteristic of most industrial metals. Instead, it more closely resembles a single-country, limited-producer market, making any new and credible source of supply outside the established producers strategically significant. In this respect, the niobium market shares some similarities with the rare earths market and its historical dependence on China.

Taken together, a metal with highly specialized and difficult-to-replace industrial applications, demand driven by infrastructure and aerospace growth, and a supply base concentrated almost entirely within one country presents a compelling strategic proposition. The Homer Project’s niobium potential, if confirmed through further exploration and technical evaluation, would be assessed in the context of these market dynamics. Although Homer-A is also located in Brazil—and therefore does not represent geographic diversification in the way a non-Brazilian niobium deposit would—it nonetheless has the potential to emerge as a notable alternative source of supply within a highly concentrated market.

What is Tantalum?

Tantalum is a critical specialty metal used primarily in electronic capacitors, aerospace superalloys, and other high-performance applications. Global mine production in 2025 is estimated at approximately 2,500 tonnes, with the Democratic Republic of the Congo accounting for approximately 52% of supply, followed by Nigeria and Rwanda at approximately 16% each. According to the USGS, apparent U.S. tantalum consumption totaled approximately 890 tonnes in 2025. With no domestic tantalum production since 1959, the United States remains entirely reliant on imports to meet demand.

The importance of tantalum to U.S. supply chain security and national defense was further highlighted in 2025, when the U.S. government invested approximately $1 billion across critical mineral initiatives through strategic stockpiling programs, direct equity investments, grants, and loans. Notably, the National Defense Stockpile acquired several critical minerals, including antimony, cobalt, scandium, and tantalum.

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1 Note: HREO (heavy rare earth oxides) includes europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu) and yttrium (Y).

 

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