SYDNEY, Aug. 19, 2026 (GLOBE NEWSWIRE) — Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) (‘BRE’) is pleased to report the exceptional results of the Monte Alto + Camacerai scoping study.

HIGHLIGHTS

  • World-leading rare earth grade advantage: Monte Alto is endowed with a Mineral Resource Estimate grade of approximately 11.3% TREO, more than 2x the reported resource grades of the two established large-scale Western rare earth producers, giving BRE a structural advantage across mining intensity, processing scale, capital efficiency and unit operating costs.1
  • Simple, two-product rare earth suite: Initial development is centred on a simplified product pathway of separated NdPr oxide and a mixed HRE+ concentrate containing dysprosium, terbium, gadolinium, samarium and yttrium.
  • Globally significant magnet rare earth production: Monte Alto is forecast to deliver average annual production of approximately 6,351 tpa NdPr oxide and 2,502 tpa HRE+ concentrate over its first five years of run-rate production, supplying critical inputs for high-performance permanent magnets, robotics, defence systems, electric mobility, aerospace and advanced manufacturing.2
  • Major new global source of heavy rare earths: Monte Alto’s HRE+ concentrate is forecast to contain approximately 274 tpa DyTb, 360 tpa gadolinium and 1,060 tpa yttrium over its first five run-rate years, representing multiples of many Western producer volumes and positioning BRE as a potential leading global source of supply-constrained heavy rare earth feedstock.
  • Strategic uranium and critical mineral co-product revenue excluded from study economics: Monte Alto is forecast to produce approximately 466 tpa U₃O₈ on a LOM average basis, providing a strategic global scale nuclear fuel co-product and future value pathway. Uranium revenue has not been included in the Monte Alto economics and will be evaluated in future studies alongside scandium, niobium and tantalum.
  • Low-capex mine development: Monte Alto is designed as a compact, simple mine-site operation using conventional mining, crushing, screening and sensor-based ore sorting, with no chemical processing at the mine site, quarry-scale initial throughput and upgraded high-grade feed transported to Camaçari for downstream processing.
  • Strategically located refinery: High-grade feed from Monte Alto is planned to be processed at a refinery at the Camaçari Petrochemical Complex, leveraging established industrial infrastructure, utilities, chemical feedstock supply chains, logistics, skilled labour and an existing industrial regulatory setting.
  • Low-temperature, high-yield integrated process flowsheet: The process flowsheet combines high-recovery beneficiation with low-temperature hydrometallurgy and rare earth separation engineering, reducing costs and supporting strong mine-to-product recoveries.
  • First-quartile global cost position: Monte Alto’s ultra-high grade, simple ore sorting, high yields, efficient logistics to Camaçari, established industrial infrastructure and low-temperature hydrometallurgical route position the project in the first quartile of Benchmark Mineral Intelligence’s global rare earth cost curve at approximately US$21/kg NdPr equivalent.
  • Exceptional Scoping Study economics: Under Argus long-term EU/US price forecasts, Monte Alto is forecast to deliver after-tax NPV8 of approximately US$6 billion, after-tax IRR of approximately 90%, payback of approximately 1.1 years, average annual Operating FCF of approximately US$1.2 billion and an NPV/capex ratio of approximately 6.2x.
  • Carester technical partnership and European HRE+ offtake: BRE’s partnership with Carester strengthens downstream separation execution, supports process design, equipment selection, commissioning and ramp-up planning, and provides a binding 10-year European offtake pathway for BRE’s heavy rare earth product, linking the Project to Western supply chains.
  • Province-scale exploration growth platform: Monte Alto remains open along strike and at depth, with recently announced drilling completed after the 22 February 2026 Mineral Resource cut-off date already returning significant additional high-grade mineralisation. There is significant exploration prospectivity across Sulista, Pelé and the large-scale Rocha da Rocha province.

A link to the full scoping study document can be found here.
A link to the scoping study presentation can be found here.

APPENDIX: KEY SCOPING STUDY RESULTS

INTEGRATED MONTE ALTO + CAMAÇARI CASE
 
Price Deck & Timing Units  
REE Price Deck – Argus EU/US Forecast
First Production yr 2031
Life of Mine yr 9
     
Average Annual Production   First 5 Years LOM Avg.
NdPr Oxide Avg. Annual Production tpa 6,351 5,661
HRE+ Con. Avg. Annual Production(1) tpa 2,502 2,233
U₃O₈ Avg. Annual Production tpa 540 466
       
Oxides Contained in HRE+ Production      
Dysprosium Avg. Annual Production tpa 229 205
Terbium Avg. Annual Production tpa 45 40
Samarium Avg. Annual Production tpa 565 504
Gadolinium Avg. Annual Production tpa 360 321
Yttrium Avg. Annual Production tpa 1,060 947
     
Average Annual Financials    
Revenue US$ mpa $1,687
Royalties US$ mpa -$76
Cash Operating Costs US$ mpa -$214
EBITDA US$ mpa $1,397
Tax US$ mpa -$179
Sustaining Capex US$ mpa -$10
Operating FCF US$ mpa $1,207
     
Construction Capex    
Capex to First Rare Earth Concentrate(2) US$ m $91
Capex to First NdPr, HRE+ & U Production(2) US$ m $527
Reagent Production Facilities(2) US$ m $351
Total Capex to First Production(2) US$ m $969
     
Economics    
After-Tax NPV8 – US$6.0 billion
After-Tax IRR % 90%
NPV/Capex Ratio x 6.2x
Operating FCF Margin % 72%
Payback Period yrs 1.1
Note: First 5 years represents first 5 years of run-rate production. Cash Operating Costs, EBITDA, Operating FCF, NPV, IRR and Payback Period are Non-IFRS financial measures. Refer to Appendix F for the definition, calculation basis and reconciliation. (1) Heavy rare earth concentrate product. Production figure represents volume of contained rare earth oxides. (2) Includes 30% contingency.


Contacts

Bernardo Da Veiga
Managing Director and CEO

investors@brazilianrareearths.com
www.brazilianrareearths.com

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1 Monte Alto’s 3.40 Mt primary and residual Mineral Resource grading 11.3% TREO comprises 2.51 Mt of Indicated Mineral Resources grading 12.7% TREO and 0.89 Mt of Inferred Mineral Resources grading 7.1% TREO.
2 HRE+ concentrate production figure represents contained rare earth oxide volumes.


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