SYDNEY, July 23, 2026 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) ('BRE') is pleased to report progress during the quarter ended 30 June 2026. Highlights during and subsequent to the end of the quarter include:
VELHINHAS AIRBORNE GEOPHYSICS AND DRILLING UNLOCKS +9 KM RARE EARTH CORRIDOR IN THE MONTE ALTO DISTRICT
- New District-Scale Growth Corridor: High-resolution airborne geophysics defined more than 9 km of cumulative exploration corridors across the Velhinhas project, beginning ~5 km south of the ultra-high-grade Monte Alto Deposit and extending rare earth mineralisation to over 8 km south of Monte Alto
- Multiple Parallel Exploration Trends: The survey confirmed four large-scale north-northeast trending mineralised corridors, converting numerous ultra-high-grade surface results into a district-scale exploration model analogous with the Sulista district opportunity
- Drilling Results Confirm High-Grade Mineralisation: Reconnaissance diamond drilling returned grades of 19.6% TREO, 33,607 ppm NdPr, 1,463 ppm Dy2O3, 248 ppm Tb4O7, 7,431 ppm Y2O3 and 1,087 ppm U3O8
- Critical Mineral Grades: High-grade assays are accompanied by NdPr, DyTb, yttrium, niobium, scandium, tantalum and uranium, consistent with BRE's high-value REE-Nb-Sc-Ta-U systems at Monte Alto and Sulista
- Monte Alto District Growth Accelerates: Velhinhas expands the Monte Alto growth story, highlighting the potential for a district-scale mineral system extending south from the ultra-high-grade Monte Alto Deposit
EXCEPTIONAL YTTRIUM-RICH HEAVY RARE EARTH DRILL RESULTS EXPAND THE MONTE ALTO DISTRICT
- Exceptional heavy rare earth grades: MADD0210 returned 2.5 m at 7.5% TREO from 6.0 m, including 1.3 m at 10.9% TREO from 7.2 m, with 58,249 ppm (5.8%) Y2O3, 4,135 ppm Dy2O3, 488 ppm Tb4O7 and 1,588 ppm U3O8
- New high-grade, heavy rare earth target remains open: Auger hole STU2478, located ~200 m southwest of the initial diamond drilling, returned 12 m at 8.7% TREO from 18 m to end of hole, including 1,004 ppm DyTb and 0.44% Y2O3. The interval remains open at depth
- Yttrium is a defining component, not a minor co-product: Yttrium represents over 50% of TREO in the peak interval - equivalent to approximately 58 kg of Y2O3 per tonne of sampled mineralised rock. Across every significant bedrock interval reported, yttrium represents approximately 48-53% of TREO
- Exceptional grades confirmed in bedrock: Four of the first six diamond holes returned heavy rare earth mineralisation, materially strengthening the 2024 surface discovery that returned 14.6% TREO, including 7.45% Y2O3 and 6,428 ppm DyTb1
- Monte Alto District formally adopted: BRE will now report the flagship Monte Alto Deposit, the Monte Alto HREE+Y Discovery, the Velhinhas Corridor and associated regional exploration corridors within one unified Monte Alto District exploration and development framework
SHAREHOLDERS APPROVE ALURION RESOURCES DEMERGER AND BACK A$50 MILLION IPO OFFER TO FUND EXPANDED DEVELOPMENT PROGRAM FOR THE AMARGOSA BAUXITE-GALLIUM PROJECT
- Shareholders approve Amargosa demerger: 99.94% of votes were cast in favour of the demerger resolution at the General Meeting held on 10 July 2026
- IPO to raise A$50 million: Alurion accepted applications for 47,619,048 new fully paid ordinary shares at A$1.05 per share; with demand exceeding the Maximum Subscription and implying an undiluted equity value of approximately A$256 million at the Offer Price
- BRE retains strategic exposure: BRE retains ~16% of Alurion's issued ordinary capital immediately after the IPO on an undiluted basis, valued at approximately A$41 million based on the Offer Price
- Dedicated board and leadership team appointed with the technical and commercial skillset to drive Amargosa's next development phase
- Expected ASX listing: Alurion Resources Limited (ASX: ALU) is expected to be admitted on 30 July 2026 with normal settlement trading expected to commence on 3 August 2026, subject to ASX approval and satisfaction of admission conditions
A link to the full announcement can be found here.
Contacts
Bernardo Da Veiga
Managing Director and CEO
investors@brazilianrareearths.com
www.brazilianrareearths.com
1 Refer ASX Announcement dated 23 October 2024 for details of previously announced exploration results (Original ASX Announcements). BRE is not aware of any new information or data that materially affects the information included in the Original ASX Announcements
