SYDNEY, April 14, 2025 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (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