• Updated PEA confirms Ashram's potential as a large-scale, long-life rare earth development.
• Initial mine life of 30 years with average annual production of 17,466 tonnes REO.
• Post-tax NPV8% of CAD$2.03B and IRR of 22.0%.
• High-grade fluorspar confirmed at Mallard Prospect, near Ashram Deposit.
• Helicopter-supported till sampling planned for Northern Lights Project.

Mont Royal Resources Ltd. has released an updated Preliminary Economic Assessment (PEA) for its flagship Ashram Rare Earths & Fluorspar Project in Quebec, Canada. The PEA highlights the project's potential as a large-scale, long-term supplier of rare earths to Western critical minerals supply chains. Key outcomes include average annual production of 17,466 tonnes of saleable Rare Earth Oxide (REO) and 4,035 tonnes of NdPr over an initial mine life of 30 years. The project's robust economics are underscored by a post-tax Net Present Value of CAD$2.03 billion, a post-tax Internal Rate of Return of 22.0%, and a post-tax payback of 3.9 years from production commencement. Additionally, high-grade fluorspar was confirmed at the nearby Mallard Prospect, with intercept grades up to 39.8% CaF2, offering potential synergies for future development. The company also plans a helicopter-supported till sampling program at the Northern Lights Project to evaluate gold potential.

Post-tax NPV8% of CAD$2.03B, post-tax IRR of 22.0%, and post-tax payback of 3.9 years

Mont Royal is progressing towards a Pre-Feasibility Study start in Q1 CY2027, with potential inclusion of a dedicated fluorspar recovery circuit. The company remains well funded with A$4.39m cash on hand and A$6.6m proforma cash.