Resouro Strategic Metals Inc. MOU with RETI for cooperation in the field of extraction and processing of REE

Toronto, Canada (ABN Newswire) – Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (FRA:8TX) (OTCMKTS:RSGOF) is pleased to announce that it has signed a non-binding Memorandum of Understanding (“MOU”) with Cincinnati, Ohio-based Rare Earth Technologies Inc. (“RETI”). Under the terms of the MOU, Resouro and RETI will collaborate in the extraction and separation processing of Rare Earth Element (“REE”) for ore from Resouro’s Tiros Titanium and Rare Earths Project (the “Project”) located in the Municipality of Tiros, State of Minas Gerais, Brazil. “We are excited to partner with RETI to test rare earths from our Tiros project,” said Chris Eager, CEO of Resouro. “If this initial testing is successful, the RETI team could become a key strategic partner in the separation of rare earths. This could be an important stepping stone towards making our planned Campos Altos Critical Metals Park a secure supplier of rare earths to global markets.”

“At RETI, we believe we have cracked the code when it comes to meeting the technical, economic, scale and environmental challenges of refining and separating critical rare earth elements,” said Steve Levin, president of RETI. “This partnership gives us the opportunity to test our own results at project scale and potentially offer a new, clean separation technology to the rare earth market.”

Resouro and RETI will work together to pursue a phased approach to scaling up midstream processing of Total Rare Earth Oxides (“TREO”) from Resouro’s feedstocks, as follows:

Phase I – Initial testing work

Resouro will provide RETI with pilot-scale samples of the project’s high-grade surface ore composite (~9,100 ppm TREO and ~23% TiO2). RETI will perform its own extraction process on Resouro’s raw materials (at RETI’s expense), with Resouro providing sample delivery to RETI’s Cincinnati facility.

Phase II – Midstream Feasibility Study

Subject to successful initial testing, the data may be included by Resouro at its sole discretion in its Preliminary Feasibility Study (PFS), following completion of the Company’s Preliminary Economic Assessment (PEA), which is currently underway. The parties may then sign a final MOU establishing all terms for a broader midstream processing partnership, including the possibility of forming a joint venture to develop a mixed rare earth separation facility, initially at the RETI site and ultimately at the Campos Altos Critical Metals Park, under development by Resouro and its partners.

Phase III – Construction of a large-scale midstream processing facility

If the midstream feasibility results support the commercial viability of RETI’s technology for the project’s feedstocks, Resouro and RETI may then form a joint venture entity to build full processing facilities (preferably in Campos Altos) for the production of high-purity REE and planned future expansion.

*To view tables and figures, go to:
https://abnnewswire.net/lnk/6UF8IQ9W

About Resouro Strategic Metals Inc.:

Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (OTCMKTS:RSGOF) (FRA:8TX) is a Canadian-based mineral exploration and development company, listed on the ASX, TSXV, OTC and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium-Rare Earths Project and the Novo Mundo Gold Project. The Tiros project includes 28 mining concessions totaling 497 km2 located in the state of Minas Gerais, one of the best infrastructurally developed states in Brazil, 350 km from the state capital of Belo Horizonte. Resouro’s mineral resource estimate for the Tiros project includes 165 million tonnes of titanium dioxide and 5.5 million tonnes of total rare earth oxides within a measured and indicated resource of 1.4 billion tonnes at 12% titanium dioxide and 4,000 ppm total rare earth oxides.

Source:
Resouro Strategic Metals Inc.

Contact:
Chris Eager
Executive Chairman (Santiago)
chris.eager@resouro.com
+44 7388 0579809

Emily Evans, Spoke
Media and content manager
emily@hellospoke.com.au
+61 401 337 959