Garies Rare Earth Drill Results Update

• 19 drillholes at DrillTarg intersected mineralised magnetite veins containing rare earth oxides (TREO)
• Peak intersection of 4.49% TREO over 6.6m from 34m depth
• Rare earths hosted in monazite containing ~60% TREO, with magnet rare earths comprising ~26% of TREO

MRG Metals Limited (ASX: MRQ) announced the results from a small, targeted 61-hole (2,482m) reverse circulation (RC) drilling program at the DrillTarg and Ryshoek targets within the company's Garies Rare Earth Project in the Northern Cape, South Africa. The drilling successfully intersected high-grade rare earth oxide (TREO) mineralisation hosted within magnetite veins, with multiple significant intersections including a peak result of 4.49% TREO over 6.6 metres. These results confirm the presence of consistent monazite-hosted rare earth mineralisation at DrillTarg and support the broader exploration potential of the 275 km² Garies tenement, where 23 rare earth targets have been identified to date. The REO suite is dominated by the economically critical magnet rare earths Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy), which together account for approximately 26% of TREO, and Heavy Rare Earths, which account for ~9% of TREO. MRG will continue advancing the Garies Rare Earth Project through a maiden Mineral Resource Estimate, finalisation of metallurgical test work, preparation of a Mining Licence Application, and systematic evaluation and drill testing of additional targets across the broader tenement.

MRG will continue advancing the Garies Rare Earth Project through a maiden Mineral Resource Estimate, finalisation of metallurgical test work, preparation of a Mining Licence Application, and systematic evaluation and drill testing of additional targets across the broader tenement.