• Successful completion of drilling campaign to convert Indicated and Inferred resources to Measured category
• Assay results demonstrate exceptional grades, including elevated Dysprosium and Terbium oxides
• Infill drilling provides greater confidence and geological detail for optimised mine planning and economics

Viridis Mining and Minerals Limited (Viridis or the Company) is pleased to announce the successful completion of the drilling campaign aimed at updating the Mineral Resource Estimate (MRE) for the Colossus Rare Earth Project in Brazil. The campaign was primarily focused on the Northern Concessions Prospect, to convert a portion of the resources currently classified as Indicated and Inferred into the Measured category, supporting the update of the Mineral Reserve and reinforcing the robustness of a project that already represents the largest Ionic Adsorption Clay (IAC) reserve outside China. Assay results received continue to demonstrate exceptional grades, including elevated concentrations of Dysprosium (Dy) and Terbium (Tb) oxides, reinforcing the growth potential and quality of the Colossus Project. The drill spacing infill program was strategically carried out in the areas planned for the initial mine pits of the Project. Combined with the excellent grades achieved, the results have provided greater confidence and geological detail, contributing to a more efficient and optimised mine-planning approach, with the potential to deliver significant economic gains through higher feed grades, improved mineral recovery, and reduced operational uncertainties in the initial stage of the Project. Additionally, auger drilling was also carried out at the Northern Concessions Prospect with the objective of enhancing the geological and geochemical database for the upcoming MRE update. The results obtained were exceptional and contributed to a better understanding of the continuity of mineralisation, grade distribution, and the geometry of the mineralised zones. The infill drilling campaign at the Tamoyo prospect was also completed, with the objective of converting Inferred Resources into the Indicated category. The results obtained were highly significant, highlighting not only elevated grades but also thick mineralised intercepts. Viridis is advancing several parallel workstreams to progress the Colossus Project through feasibility, permitting, financing and project execution readiness.

The Company expects the upcoming Mineral Resource Estimate update to result in a significant uplift in feed grades, with clear implications for enhanced project economics and revenue generation.

Viridis remains engaged in advanced discussions with multiple potential offtake, financing and strategic partners as part of its broader funding and development strategy for the Colossus Project.