Appia is Joining MAGBRAS to Participate in the Development of Latin America's First Permanent Magnet Production Facility

Rhea-AI Summary

Appia Rare Earths & Uranium (CSE: API) has joined the SENAI MAGBRAS initiative to develop Latin America's first rare earth permanent magnet facility in Lagoa Santa, Minas Gerais State, Brazil. The MAGBRAS project aims to establish a complete rare earth production chain in Brazil, implementing a 'From Mines to Magnets' approach.

The consortium includes the Federations of Industries of Santa Catarina (FIESC) and Minas Gerais (FIEMG), along with the National Bank for Economic and Social Development (BNDES). The project will focus on identifying technological challenges, developing solutions, implementing a pilot plant, and scaling to industrial production with industry collaboration.

Appia will provide management support and potential future source of light and heavy rare earths for Brazilian permanent magnet production.

Toronto, Ontario--(Newsfile Corp. - November 27, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQB: APAAF) (FWB: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce that it has joined the SENAI MAGBRAS initiative which will develop the first rare earth permanent magnet facility in Latin America. The pilot facility is located in Lagoa Santa, Minas Gerais State - Brazil.

The MAGBRAS project was established to develop and implement a roadmap towards national production of rare earth permanent magnets, and includes the Federations of Industries of Santa Catarina (FIESC) and Minas Gerais (FIEMG), together with the National Bank for Economic and Social Development (BNDES), along with numerous private and public sector companies. Part of the Rota 2030/MOVER program, the project aims to establish a complete and permanent rare earth production chain in the country, and to enable Brazil to become an important player on the world stage.

The MAGBRAS consortium plans on developing commercial production of permanent magnets in Brazil using in-country resources "From Mines to Magnets" applying the following plan:

1. Identification of technological challenges in producing permanent magnets.
2. To develop and test solutions to address the identified technological challenges.
3. Implementation of a Pilot Plant to test the metallurgical production of permanent magnets using the resources identified by local production and exploration projects.
4. Development and implementation of an industrial scale permanent magnet facility with industry collaboration and support.

Stephen Burega, President, said, "Appia's contribution to MAGBRAS will include an in-kind commitment to support the management and development of the program as well as to provide a potential future source of light and heavy rare earths to be used in the production of Brazilian permanent magnets. Appia is pleased to participate in this extremely important intiative in support of the development of a fully integrated, in-country solution to build rare earth permanent magnets. It is our hope that this initiative will grow and Appia's PCH project can be a key source of the crucial heavy rare earths - Dysprosium and Terbium - needed in the production process to produce magnets with significantly stronger magnetic fields."

About Appia Rare Earths & Uranium Corp. (Appia)

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project (See June 9^th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11^th, 2024 Press Release - Click HERE) The Company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.

Appia has 149.4 million common shares outstanding, 170.8 million shares fully diluted.

Cautionary note regarding forward-looking statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit www.appiareu.com

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (X, Facebook, LinkedIn) please feel free to send direct messages.

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Contact:

Tom Drivas, CEO and Director 
(c) (416) 876-3957 
(e) tdrivas@appiareu.com 

Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231546

FAQ

What is the MAGBRAS initiative that Appia (API) joined in November 2024?

MAGBRAS is a Brazilian initiative to develop Latin America's first rare earth permanent magnet facility, located in Lagoa Santa, Minas Gerais State. The project aims to establish a complete rare earth production chain in Brazil.

What is Appia's (API) role in the MAGBRAS project?

Appia will provide in-kind management support and serve as a potential future source of light and heavy rare earths, particularly Dysprosium and Terbium, for Brazilian permanent magnet production.

Where will the MAGBRAS pilot facility be located?

The MAGBRAS pilot facility will be located in Lagoa Santa, Minas Gerais State, Brazil.

What organizations are involved in the MAGBRAS project with Appia (API)?

The project involves the Federations of Industries of Santa Catarina (FIESC), Minas Gerais (FIEMG), the National Bank for Economic and Social Development (BNDES), and various private and public sector companies.