Ameerex Confirms Major Heavy Rare Earth Mineralization in Brazil JV Across the Goiás-Araxá-Catalão Belt - Brazil Ranking Second to China by Estimated REE Resources

Heavy Rare Earth mineralization Confirmed

Exploration work completed by the joint venture partner Patagonia Lithium Ltd (ASX:PL3) has confirmed via satellite SW-IR surveys and soil and rock chip sampling rare earth mineralization dominated by heavy and high-value rare earth elements, including:

Holmium (Ho) - used in advanced magnets, laser systems, and nuclear-related applications. The latest (Feb 6, 26) holmium oxide prices show China‑based spot material trading around the high‑60s USD/kg range, with Northeast Asia indices slightly higher. The market size in 2024 was estimated at US $360 million. Holmium is extracted from Monazites (phosphates), Bastnäsite (fluoro carbonates) and from Ion‑adsorption clays. Because holmium sits in the middle of the heavy REE group, its separation requires multiple solvent‑extraction stages after the bulk REE concentrate is produced. Ekosolve™ the partner to Patagonia Lithium has significant Solvent extraction expertise.

Lutetium (Lu) - among the rarest, rare earth elements, used in petroleum refining catalysts, medical imaging, and high-performance optics. Data shows lutetium oxide trading in the US $700-$735/kg range, with China‑delivered 99.99% material most recently quoted at US $731.58/kg (source: Business anlytiq). The global market size is estimated at US $13.5 Billion and expected to reach $22,5 billion by 2033. Lutetium oxide alone is a much smaller subset (hundreds of millions USD), but the Lu‑177 medical isotope segment is exploding and dominates value growth. Lutetium has an extremely low natural abundance. Lutetium is not mined directly; it is a fractional output of HREE circuits.

Yttrium (Y) - a core material for advanced ceramics, medical technologies, and specialized manufacturing. Yttrium prices have exploded due to China's 2025 export controls, with current spot levels sitting in the USD 120-320/kg range for yttrium oxide, depending on purity and contract terms. (source: ecofinagency.com). Yttrium is always extracted as part of the heavy rare‑earth element (HREE) fraction from REE‑bearing ores. The process is Ore → Concentrate → Mixed REE Solution → Solvent Extraction → Yttrium Compound → Calcination → Y₂O₃.

Channel and regolith sampling returned elevated total rare earth values, supporting the presence of a large-scale heavy rare earth mineralized footprint and warranting accelerated technical follow-up. The concessions 830164 and 830165 cover 30 sq km.

Geological Context and Global Scale

The mineralization is interpreted to be associated with carbonatite-related and metasomatic alteration characteristic of central Brazil. The Goiás-Araxá-Catalão belt is widely recognized by geologists as the largest continuous heavy rare earth-bearing belt outside China, and second globally by regional scale and continuity, based on mapped alteration footprint and mineralized trend length.

The proximity of the Company's concessions to active production (5km from the Araxa REE centre) further validates the geological model and underscores the relevance of the belt within global rare earth supply dynamics.

Path Forward

The joint venture is advancing toward:

• Targeted auger and air-core drilling across multiple priority anomalies

• Expanded surface sampling and geophysics surveys

• Aircore or RC drilling to determine lithological structures especially ionic clays

• Preliminary metallurgical characterization to assess solvent extraction recovery pathways

These programs are designed to progressively de-risk the asset while maintaining a disciplined, staged advancement strategy.

Strategic Positioning

Ameerex believes that the scale, continuity, and heavy rare earth composition of the Goiás-Araxá-Catalão belt support engagement with industrial groups partners and institutional investment firms seeking long-term access to strategic rare earth supply and participation in the development of non-China critical-minerals production.

About Patagonia Lithium Ltd

Patagonia Lithium Ltd (ASX: PL3) is an exploration company with lithium brine projects in Argentina and a growing portfolio of mineral exploration concessions in Brazil, including rare earth and specialty metals such as Niobium.

About Ameerex Corporation

Ameerex Corporation is a U.S.-listed company advancing natural resource assets across critical minerals and energy through strategic partnerships and joint ventures.

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