Technical disclosure

Definitions and methods behind the results.

Use this page to distinguish head grade from recovery, understand the reported project areas and find the QA/QC, no-recovery and Qualified Person information behind the 6 October 2026 drilling results.

Project stage

Exploration, not a development decision.

Minas Americas remains an exploration-stage, clay-hosted rare-earth project in Minas Gerais, Brazil.

Exploration and diagnostic results do not establish a mineral resource, mineral reserve, commercial recovery, economic assessment or development decision.

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Definitions

The language behind the numbers.

TREO: Total rare earth oxides as defined for the cited assay method and dataset.
MREO: MREO is defined as Nd₂O₃ + Pr₆O₁₁ + Dy₂O₃ + Tb₄O₇.
HREO: For the 6 October 2026 compilation, the sum of Y2O3, Dy2O3, Tb4O7, Ho2O3, Er2O3, Tm2O3, Yb2O3 and Lu2O3. MREO and HREO overlap through Dy2O3 and Tb4O7 and are not additive.
DyTb: The combined Dy2O3 and Tb4O7 heavy-magnet subset.
Head grade: Concentration measured in the original sample before metallurgical recovery is considered.
Drilled interval: Length measured along the drill hole. True thickness has not been determined for the reported intervals.
Diagnostic laboratory result: Desorbed oxide equivalents on the laboratory mg/kg reporting basis after a defined diagnostic test. Head-to-dissolved rare-earth mix comparisons describe composition, not extraction recovery or an increase in absolute solution concentration.
Recovery: The fraction of the original inventory reaching a defined stream or product under a complete mass balance.
Payable recovery: The portion for which a customer would pay after specifications, impurities and commercial deductions.

Understand the full economic evidence ladder

Spatial evidence

Three areas. Three meanings.

~5,500 ha

Exploration zone

Historical exploration-zone description; not a resource, reserve or drill-defined boundary. Later project data control.

6 Oct 2025 source

>15 km²

Mapped geological unit

Not drill-confirmed throughout and not a mineral-resource boundary.

17 Mar 2026 source

>3.5 km²

Drill-result footprint

Not a mineral-resource boundary, reserve, tonnage estimate or proof of continuous mineralisation.

17 Mar 2026 source

Data quality

Methods and review.

6 October 2026 drilling disclosure

The release identifies SGS Geosol lithium-metaborate fusion followed by ICP-MS (IMS95A) and ICP-OES (ICP95A), with blanks, certified reference materials and duplicates excluded from geological composites. Partial composites cover available contiguous assays, not unassayed gaps.

Accreditation is scope-specific. Values below detection limits use half the limit; over-limit results are lower bounds, not exact grades. No grade cutoff is applied to full-hole composites. Head grades do not establish recovery; complete and partial coverage remain distinct.

Selected head-grade drilled intervals, not recovered grades. True widths and continuity between holes are not established. Nested intervals are included, not additional metres. MREO and HREO overlap through DyTb and must not be added. No mineral resource, reserve, commercial recovery or economic result is established.

Selected auger profiles are cumulative, not an all-new cohort.

The selected-results table is derived from the approved v11 release, not the complete companion annex.

The map reconciles the October compilation with earlier disclosed results. It distinguishes plotted reference locations, records awaiting coordinate reconciliation and retained exclusions; selected highlights remain separate from full and partial assay coverage.

Carlos Leite, MAusIMM CP(Geo) (No. 1006695), an independent consultant to Magnes Rare Earths, is the Qualified Person identified for technical review under NI 43-101.

Technical approval relates to the dated release. It is not approval of every website presentation or the separate companion assay annex.

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Operational risk

Inputs that can change cost, permits and schedule.

Water, reagents, land, residues, radiological controls, infrastructure and community obligations depend on a project-specific process and development concept.

Those inputs remain to be measured against a defined route before project-level performance claims can be made.

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Technical boundaries established

Return to the investment decision.

Revisit the reported evidence or the principal risks that the next work programme is designed to test.

Review results and sources Return to principal risks