Brazilian Rare Earths Limited (BRELY) Permitting Milestone at Monte Alto Project

Brazilian Rare Earths Limited (ASX:BRE) (OTCMKTS:BRELY) (OTCMKTS:BRETF) is pleased to announce a significant permitting milestone for the Monte Alto Project. Brazil's National Mining Agency, the Agencia Nacional de Mineracao (ANM), has approved the Final Exploration Report for the Monte Alto exploration licence.

This approval marks the commencement of the formal process to secure a Mining Permit for Monte Alto.

Brazilian Rare Earths will now prepare and submit an Economic Development Plan (EDP), that will be underpinned by the Monte Alto Scoping Study, which is targeted for completion in Q2 2025.

In addition to Monte Alto, Brazilian Rare Earths has also received ANM approvals for the Final Exploration Reports on 20 exploration licences across the Rocha da Rocha Province, covering an area of 324km2 . Combined with Monte Alto, these approvals encompass 348km2 of tenements.

The approvals include the southern extension of the Velhinhas trend, where the highest-grade outcrop sample recorded at 40.5% TREO was recorded. The central block of the ANM approvals, spanning 128 km2, covers a chain of intense geophysical anomalies over Pele Targets 2, 3, 4, and 5.

Brazilian Rare Earths' CEO and Managing Director, Bernardo da Veiga, commented:

"We appreciate the strong and proactive support of the Brazilian government in advancing permitting at Monte Alto. The swift approvals underscore the high quality of our exploration work, our strong engagement with our stakeholders, and the Brazilian government's strong support for leading critical minerals projects."

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Bernardo da Veiga
MD and CEO
Brazilian Rare Earths
bdv@brazilianrareearths.com

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