Ottawa, Ontario--(Newsfile Corp. - October 15, 2025) - NeoTerrex Minerals Inc. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to announce that it has received drill permits for its 100%-owned Monument rare earth elements ("REE") project (the "Project"), located in the Waswanipi/Montviel region of Québec. The permits authorize NeoTerrex to commence the first phase of drilling on a portion of its most prospective REE targets within the Project area, which encompasses 53 mineral claims totaling 2,944 hectares. The Project lies adjacent to the Montviel light rare earths deposit, which hosts a National Instrument 43-101 compliant indicated resource of 183.9 million tonnes grading 1.45% Total Rare Earth Oxides (TREO), and 66.7 million tonnes inferred resource grading 1.46% TREO (SGS Canada, 2011).
NeoTerrex President and CEO Mathieu Stephens commented: "The receipt of our drill permits comes at a very opportune time, coinciding with a surge of global interest and investment in the rare earths sector. We've defined several high-priority targets at the Project, and we're eager to initiate this first phase of drilling to further evaluate their potential."
The drill program is planned to commence in early November and will consist of 14 holes totalling 2,000 metres but may be expanded during the program if initial results warrant it. Only two historical drill holes, spaced approximately two kilometres apart, are known to have been completed within the Project boundaries. These holes, originally drilled in the 1990s in search of diamonds, did not intersect kimberlite but instead cut through carbonatite-a key host rock for REE. Historical records indicate that the core was never assayed for rare earths at the time.
In the fall of 2024, NeoTerrex completed an airborne magnetic and electromagnetic survey over the Project. The results outlined strong, coincident electromagnetic and magnetic anomalies, comparable to those associated with the nearby Montviel deposit. Follow-up work for 2025 consisted of surface prospecting, including soil and till sampling.
Neodymium, one of the primary rare earths found in carbonatite-hosted systems such as Monument, is a cornerstone of the modern clean-energy economy and defense industry. It is a critical component in the manufacture of high-strength permanent magnets used in electric vehicle drivetrains, wind turbine generators, robotics, and advanced defense technologies. Global demand for neodymium and other magnet-grade REE continues to rise sharply, driven by the accelerating electrification of transportation and renewable energy infrastructure. With supply chains heavily concentrated in Asia, rare earth projects are increasingly recognized as essential to the diversification and long-term security of Western supply.
NeoTerrex remains well-financed, with approximately $3 million in working capital and no debt, providing the flexibility to advance multiple projects in parallel. Alongside the Project, the Company continues to evaluate and advance a broader portfolio of critical mineral properties, each with REE and associated critical metal potential.
Through this multi-project exploration strategy, NeoTerrex is reinforcing its role in the development of critical mineral resources across North America. The Company's overarching objective is to help strengthen long-term supply security for Western markets. In advancing its exploration programs, NeoTerrex continues to engage proactively with Indigenous communities, ensuring that local perspectives and values are incorporated into all stages of project development.
Qualified Person
The technical and scientific content of this news release has been reviewed, verified, and approved by Mathieu Stephens, P.Geo., President and CEO of NeoTerrex, and a Qualified Person as defined under National Instrument 43-101- Standards of Disclosure for Mineral Projects.
About NeoTerrex
NeoTerrex's projects are located in Québec, a province recognized for its exceptional infrastructure, supportive regulatory framework, and growing importance within the North American critical minerals supply chain. With a portfolio of well-positioned assets, NeoTerrex is strategically aligned to capitalize on the accelerating demand for rare earth elements and other key materials essential to the defense industry and clean-energy transition.
For further information, please contact:
NeoTerrex Minerals Inc.
Mathieu Stephens, President & Chief Executive Officer
info@neoterrex.com
343-308-2648
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain certain forward-looking information and statements, including, without limitation, statements pertaining to NeoTerrex's future plans, objectives or goals, as well as the anticipated commencement date of the drilling program on the Project. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca.
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SOURCE: NeoTerrex Minerals Inc.
