Amargosa Bauxite-Gallium Project Mineral Resource Estimate

Core Viewpoint - Brazilian Rare Earths Limited (BRE) has announced a Maiden Mineral Resource Estimate at the Amargosa Bauxite-Gallium Project, highlighting a significant bauxite resource with premium alumina grades and substantial contained gallium [1][6]. Bauxite Mineral Resource Estimate - The total mineral resource is estimated at 568 million tonnes (Mt) with a Total Available Alumina (TAA) of 29.8% [2]. - The resource includes 98 Mt of Direct-Ship Bauxite with a TAA of 41.9% and 470 Mt of Beneficiable Bauxite with a TAA of 27.3% [4]. Gallium Mineral Resource Estimate - The project contains 27,098,000 kg of gallium, with an average concentration of 47.7 parts per million (ppm) [2][3]. - Direct-Ship Bauxite has a gallium concentration of 51.6 ppm, while Beneficiable Bauxite has 46.9 ppm [3]. Strategic Importance - The contained gallium positions Amargosa as a key player in emerging supply chains for semiconductors, high-performance permanent magnets, and defense applications [3]. - The low reactive silica index (RSI) of the bauxite enhances alumina recovery and aligns with tightening refinery feed specifications [4]. Logistics and Infrastructure - The project benefits from direct highway access to bulk-export logistics in a Tier-1 jurisdiction, facilitating a capital-efficient direct-ship bauxite operation [7][8]. - A Memorandum of Understanding (MoU) has been signed with the Port of Enseada for mine-to-port export logistics [8]. Growth and Development Pathways - A near-term Scoping Study is planned to explore development pathways and long-term value creation options for Amargosa [7]. - The project has significant exploration upside, supported by historical drilling data, providing potential for further resource expansion [8]. Next Steps - Upcoming initiatives include a Scoping Study by the end of 2025, bauxite upgrade test-work, and resource drilling to assess growth and optimization [8].