Monte Alto Indicated Ultra-High Grade Mineral Resource Grows By 41%

(MENAFN- GlobeNewsWire - Nasdaq) Larger resource base strengthens potential to extend mine life

SYDNEY, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) ('BRE') announces a major Mineral Resource Estimate (MRE) upgrade for the flagship Monte Alto deposit in Bahia, Brazil, delivering a 41% increase in Indicated ultra-high-grade resource tonnes to 3.5 Mt at 10.7% TREO.

Total ultra-high grade resource tonnes, comprising Indicated and Inferred material, have increased by 29% to 4.4 Mt at 9.9% TREO, reported above a cut-off grade of 1% TREO. Indicated resources now account for 87% of contained TREO within the ultra-high-grade resource.¹

HIGHLIGHTS

• Major expansion of ultra-high grade resource: Updated Mineral Resource Estimate (MRE) expands Monte Alto Indicated Resource tonnes by 41% to 3.5 Mt at 10.7% TREO.¹
• Monte Alto southern extension drives growth: Indicated resource tonnes at Monte Alto South have increased by approximately 200% to 1.9 Mt¹, supported by repeated intersections of thick, stacked mineralised horizons.
• Improved geological confidence: Indicated resources now account for 87% of contained TREO¹ within the resource, providing a strong foundation for upcoming feasibility-level mine planning and economic studies.
• Extensive drilling foundation: Over 43,000 m of diamond drilling across 255 drillholes underpins a high-quality MRE and a more detailed understanding of the deposit's geology and heavy rare earth rich mineralisation.
• Further resource growth targeted: Mineralisation remains open in all directions and further significant regional upside across the district. A 5,000 m drilling programme is underway to extend recent high-grade additions.
• Monte Alto Concentrate Sales Feasibility Study: The expanded MRE directly underpins mine planning for a fast-tracked, low-capex Monte Alto development producing a high-grade concentrate for export markets. Fast-tracked concentrate exports could generate cash flow before the downstream Camaçari refinery development.²
  

FIGURE 1: 3D VIEW OF UPDATED MONTE ALTO MINERAL RESOURCE

Bernardo da Veiga, CEO & Managing Director commented:

“This major resource upgrade strengthens the foundation for a longer-life Monte Alto operation and a staged, low-capex development route to first production and exports. The Monte Alto concentrate sales feasibility study will assess an initial rare-earth concentrate export business, with the opportunity to commit capital in stages and generate cash flow ahead of Camaçari's refinery construction and commissioning.

This simple mineral concentrate operation would draw on Monte Alto's ultra-high grades and ore-sorting performance to produce a direct-ship export product through conventional mining and dry processing. By establishing this operation ahead of the Camaçari refinery, we aim to generate early cash flow to fund downstream development and reduce our reliance on external capital.

We are advancing this development work while continuing to explore the full limits of Monte Alto's scale. Mineralisation remains open to the south, and drilling beyond the current resource boundary offers further scope to increase the resource available for a longer-life project.”

A link to the full announcement can be found here.
Contacts

Bernardo Da Veiga
Managing Director and CEO

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A photo accompanying this announcement is available at

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1 Inferred Mineral Resources comprise 20% of the tonnes and 13% of the contained TREO of the updated Mineral Resource. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources.
2 See BRE's ASX announcement dated 18 August 2026, which described a potential staged, low-capex development pathway to generate earlier cash flow from Monte Alto concentrate sales. Preliminary and indicative only, not based on a completed feasibility study, and subject to further work and approvals.

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