• Rare earth oxides subject to China's new Export Control Laws
• Caldeira Project's low operating costs and high-grade resources
• Potential to grow Caldeira's high-value rare earth resources

Meteoric Resources NL (ASX: MEI) is providing an update on its 100%-owned Caldeira Ionic Clay Rare Earth Project in response to China's new export controls on certain medium and heavy rare earth-related items. The Caldeira Project is one of the highest-grade Ionic Absorption Clay, Rare Earth Element deposits in the world, with a Mineral Resource Estimate of 1.1 billion tonnes and Magnetic Rare Earth Oxide recoveries of 70%. The project's annual operating costs average US$5.33/kg of Total Rare Earth Oxide in the first five years and US$6.74/kg over the life of mine. Upcoming resource updates for the Barra do Pacu and Agostinho deposits will further increase future production volumes. Meteoric has significant exploration upside to grow its high-value, enriched rare earth resources. The company is well-positioned to provide a sustainable, long-term supply of critical rare earths to global supply chains.

Meteoric is focused on maximizing its resource base to support the growing demand for rare earths and providing a significant and scalable supply into the global supply chain.