• Maiden Barra do Pacu Mineral Resource Estimate adds 389Mt at 2,204ppm TREO
• Breakthrough separation of Caldeira Mixed Rare Earth Carbonate using Flash Joule Heating
• Caldeira Project PFS confirms globally strategic, long-life rare earths project

Meteoric Resources NL has made significant progress on the development of its Caldeira Rare Earth Project in Brazil during the June 2025 quarter. Key highlights include the declaration of a maiden Mineral Resource Estimate at the Barra do Pacu deposit, which added 389Mt at 2,204ppm TREO to the global resource. This increased the total Caldeira Project MRE to 1.5Bt at 2,359ppm TREO, including 666Mt at 2,685ppm TREO in the Measured and Indicated categories. Meteoric also signed a Memorandum of Understanding with MTM to exclusively collaborate on downstream processing and separation of the Caldeira Mixed Rare Earth Carbonate using MTM's proprietary Flash Joule Heating technology. This breakthrough process has demonstrated the potential to effectively upgrade the MREC and recover high-value magnetic rare earth elements. Subsequent to the quarter, Meteoric released the Caldeira Project Pre-Feasibility Study, confirming the robust technical and economic viability of a potential mining and processing operation. The PFS declared a Maiden Ore Reserve of 103Mt at 4,091ppm TREO, representing 27% of the currently defined Measured and Indicated MRE. Meteoric has also been included in the Brazilian Strategic Minerals funding program, which aims to promote and facilitate investments in production capacity, research, development and innovation for strategic minerals. The company completed a $42.5 million equity placement to fund the Definitive Feasibility Study, pilot plant development, and other key workstreams to further de-risk and optimize the Caldeira Project.

The Caldeira Project PFS confirmed a Maiden Ore Reserve of 103Mt at 4,091ppm TREO, representing 27% of the currently defined Measured and Indicated Mineral Resource Estimate. The company is progressing towards a Final Investment Decision for the project.

Meteoric is focused on advancing the Caldeira Project through detailed engineering studies, including commencement of the Definitive Feasibility Study, exploration and drilling to support the conversion of additional reserves, and the development of a 25kg/hour MREC pilot plant to further validate the project's technical, environmental and commercial viability.