• Garies Rare Earth Project in South Africa returns high-grade drilling results and simple metallurgy
• Fully funded Corridor Titanium Dioxide Joint Venture in Mozambique advances production pathway
• Adriano-Fotinho Rare Earth Corridor in Mozambique confirms district-scale potential

MRG Metals Limited (ASX: MRQ) delivered a series of breakthrough results across its critical minerals portfolio during the March 2026 quarter. At the Garies Rare Earth Project in South Africa, the company's drilling program confirmed high-grade, continuous rare earth mineralisation, with standout intersections of up to 4.49% total rare earth oxides (TREO) over 6.6 metres. Metallurgical testwork also demonstrated a simple and scalable processing pathway, with initial monazite recoveries of around 72%. In Mozambique, the fully funded Corridor Titanium Dioxide Joint Venture continued to advance its production plans, with the completion of an Environmental and Social Impact Assessment and progress on the Resettlement Action Plan. Meanwhile, the Adriano-Fotinho Rare Earth Corridor saw further drilling results that reinforced the project's district-scale potential, with consistent high-grade total heavy mineral (THM) grades across multiple target areas. Collectively, these achievements reflect MRG's strategy of building a diversified critical minerals business, combining near-term production assets with emerging exploration upside.

The Corridor Titanium Dioxide Joint Venture in Mozambique is targeting initial production of 130,000 to 160,000 tonnes per annum of heavy mineral concentrate in the first year, with a five-year ramp-up goal of 800,000 tonnes per annum.

MRG Metals is well-positioned to continue advancing its critical minerals portfolio, with a balanced mix of near-term production potential, high-grade development projects, and district-scale exploration upside across rare earths, titanium, and emerging commodities like uranium.