Red Metal Limited Reports 65-68% Rare Earth Recoveries at Sybella, Testing Economics of 4.8-Billion-Tonne Resource

Highlights

• Two-metre column tests recovered 65% neodymium and 68% praseodymium from fresh granite at Sybella's Kary Zone, consuming 19kg of sulphuric acid per tonne.
• Sybella's global resource averages 302ppm NdPr across 4.795 billion tonnes, requiring enormous throughput to achieve commercial-scale output.
• Heavy rare earths dysprosium and terbium average 28ppm globally and could strengthen project economics if fresh-granite recovery rates are confirmed.
• A prefeasibility study is targeted for early 2027, with six-metre column testing and continued drilling underway at the 936-million-tonne Kary deposit.