Metallium Secures Binding Exclusive Rights to Treat Heavy REE-Rich Harts Range Project Following Exceptional Upgrade of Raw Ore from the Project after Flash Joule Heating (FJH) Treatment

FJH Treatment Resulted in an Exceptional Beneficiation Result Increasing TREO from 1.7% to 35.0% (approximately a 20% upgrade) in a Single Step Flash and 53x/21x Dy-Tb Enrichment

PERTH, Western Australia and HOUSTON, Nov. 18, 2025 /PRNewswire/ -- Metallium Ltd. (ASX: MTM) (OTCQX: MTMCF) announced it has established a major step forward in establishing a Western heavy-rare-earth refining pathway through a new collaboration with New Frontier Minerals, Ltd. Early testwork using Metallium's proprietary Flash Joule Heating (FJH) technology on material from NFM's Harts Range Project in the Northern Territory of Australia, delivered exceptional enrichment results for dysprosium (Dy) and terbium (Tb), two of the rarest and most strategic rare-earth elements (REEs). Metallium has simultaneously secured exclusive, project-linked rights to apply FJH to all future Harts Range material, reinforcing Metallium's leadership in advanced rare-earth refining technology. Additional details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03024166-6A1297452&v=undefined.

"These results highlight the disruptive potential of Metallium's technology. To take an unprocessed rock sample and produce a Dy/Tb-rich concentrate in one rapid, solvent-free step is exceptional," said Michael Walshe, Managing Director and CEO of Metallium. "It reinforces our position at the forefront of building a Western supply chain for the world's most strategic rare-earth metals. To achieve a more than 20-fold TREO upgrade and more than a 50-fold enrichment of dysprosium from a raw, un-beneficiated ore sample in a single flash is unprecedented in global heavy-rare-earth beneficiation," he stressed.

Walsh added that the U.S. currently has no major source for these two heavy REEs and the Department of War is actively looking for supply. "These two heavy REEs are almost 100% supplied by China today, from REE clay deposits, yet are critical for magnet and defense technologies," he explained.

The beneficiation results demonstrated that a single-step treatment with FJH increased TREO from 1.7% to 35.0%, approximately a 20 times upgrade in a single step flash, including 53 times Dy enrichment and 21 times Tb enrichment, with complete removal of detectable Fe, Si and Th from raw, un-beneficiated (no flotation, acid leaching or hydrometallurgical pre-conditioning) Harts Range Ore. "These results represent an unprecedented beneficiation performance for raw Dy-Tb bearing ore in a single, rapid, solvent-free reaction," Walsh said.

As a result of this exceptional performance, Metallium was granted exclusive, project-attached rights by NFM to apply FJH to all Harts Range ore and concentrates for at least 10 years, automatically extending through production. Contractually, any future potential owner of Harts Range must also use the FJH process.

Metallium will also earn a royalty on recovered product and a process licensing on all future Dy/Tb sales from Harts Range Material.

Initial surface sampling indicates that Harts Range hosts an unusually Dy/Tb-rich mineral system, with grade characteristics and mineralization rarely encountered in other deposits worldwide. Early data underscores FJH's capability to unlock heavy rare earths directly from processed ore.

In parallel with commissioning its Texas facility for e-waste processing, Metallium is assessing pathways to produce Dy/Tb-rich "super-concentrate" samples at its Texas Technology Campus for possible future qualification with U.S. magnet and defense customers.

Metallium Ltd. (https://www.metalliuminc.com) is pioneering a low-carbon, high-efficiency approach to recovering critical and precious metals from mineral concentrates and high-grade waste streams. The company's patented Flash Joule Heating (FJH) technology enables the extraction of high-value materials, including gallium, germanium, antimony, rare earth elements, and gold from feedstocks such as refinery scrap, e-waste and monazite. The company has recently secured its first commercial site in Texas via its wholly owned subsidiary, flash Metals USA, Inc.

SOURCE MTM Critical Metals Ltd.