Sybella Column Leach Tests Yield High REO Recoveries

• Column leach tests on Sybella Kary Zone ore samples achieved high rare earth extractions using weak sulphuric acid at ambient temperatures.
• Both Saprock and Transitional mineralisation types showed strong extractions with low impurities and low acid consumption.
• Between 35% to 55% rare earth extraction occurred within the first 30 days, indicating potential for early cashflow.
• The results validate the feasibility of low-cost heap leach processing for the Sybella project.

Red Metal Ltd is excited to announce that column leach tests on representative ore samples from the Sybella Kary Zone achieved strong rare earth extractions using weak sulphuric acid at ambient temperatures. The tests on -10mm and -20mm crushed rock samples from multiple core holes demonstrated high extractions with low impurities and low acid consumption, validating the hypothesis that Sybella's rare earth mineralisation can be efficiently extracted using low-cost heap leach processing. Between 35% to 55% rare earth extraction occurred within the first 30 days, highlighting the potential for early cashflow. The results also show that Saprock and Transitional mineralisation types can be co-processed, reducing complexity. Red Metal will now fast-track pre-feasibility studies towards completion this calendar year.

Red Metal expects to complete pre-feasibility studies for the Sybella project this calendar year.

Red Metal believes the Sybella project has the potential to be a low-cost, high-yield rare earth development, similar to large-scale soluble copper operations.