Ottawa, Ontario--(Newsfile Corp. - February 27, 2025) - NeoTerrex Minerals Inc. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to announce the acquisition of the Gravitas project in the Belleterre area of Abitibi-Temiscamingue, Quebec. This strategic project comprises 86 claims covering 4,900 hectares in an established mining camp recently experiencing a renewed surge in exploration activity lead by Vior Inc.
The Gravitas project consists of several blocks of claims located within or near the greenstone corridor as shown on the map below. The Gravitas project includes the historic Petosa tungsten zone which was first identified in the 1930s amid regional gold discoveries and was further investigated for its tungsten potential during the 1940s and 1950s, although subsequent exploration was limited. A 1954 report described the zone as containing "impressive amounts of scheelite observed in widths varying from 3 to 17 feet, occurring in varying sizes from disseminated grains to vein sections measuring 2 x 4 inches" (Macveigh, 1954). The host porphyry is reportedly exposed in several trenches over a length of 150 metres and a second parallel zone measuring 90 metres in length was later identified nearby, according to the government resident geologist at the time (Report GM02142). Historical grab samples have recorded tungsten values ranging between 0.5% and 4% tungsten (W), while a 1941 government-sponsored metallurgical testing established an 87.25% recovery rate for a 4.3 kg sample (GM14469). These reports will be made available for viewing on the Company's website. The Gravitas project remains at the exploratory stage and no evidence of historical drilling could be located.
Scheelite is recognized as a reliable gold pathfinder in the region, with several historical mines - including Hollinger, Kerr-Addsion, McWatters, and Canadian Malartic - containing significant amounts of the tungsten-bearing mineral (GM24607). In addition, gold occurrences have been documented near the NeoTerrex claims, further enhancing the project's potential. Please note that NeoTerrex has not had an opportunity to verify tungsten or gold-bearing rock samples at the Gravitas project as referenced in historical reports.
Tungsten: A Critical Mineral
Tungsten has emerged as a critical mineral in today's geopolitical landscape. In response to the Trump administration's tariff hike, China recently imposed export restrictions on select metals, including tungsten, a vital resource for both civilian and military applications. With China accounting for 81% of global production (USGS 2023 data) and few alternatives to tungsten's unique physical properties, this metal remains indispensable. Like antimony, tungsten is central to defense applications; its exceptional hardness makes it ideal for aerospace, armour, and armour-piercing ammunition, serving as a sound and cost-effective substitute for depleted uranium.
Recognizing tungsten's strategic importance, Western governments are taking decisive action to reduce reliance on Chinese production. In December 2024, the US Department of Defense and the Canadian Government jointly committed up to C$35 million to Fireweed Metals Corp., which is advancing a tungsten deposit in the Yukon.
Mathieu Stephens, President and CEO of NeoTerrex, commented:
"We are thrilled to have secured the Gravitas project at such a pivotal time when demand for tungsten and gold is surging. Its prime location, adjacent to vital infrastructure in a mining-friendly jurisdiction, makes it an exceptional development opportunity poised to deliver significant value. We are eager to hit the ground running to unlock the project's full potential while continuing our robust exploration efforts on our rare earth projects, which have already yielded numerous discoveries."
The Gravitas project was acquired through map staking and carries no underlying royalty obligations and is 100%-owned by the Company. NeoTerrex is well financed with a working capital of $4 million and no debt.
Rare Earths Projects
NeoTerrex is preparing its spring exploration program which will also focus on its prospective rare earth elements projects. The Company has discovered numerous rare earths occurrences on several of its projects which require follow-up exploration to determine their extent. The reader is invited to view the Company's website for more information on these projects.
Qualified Persons
Technical and scientific aspects of this news release have been reviewed, verified, and approved by Mathieu Stephens, P.Geo., President and CEO of NeoTerrex, the Qualified Person, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About NeoTerrex
The Company is currently advancing its prospective critical minerals projects located in the Province of Quebec, with the majority located within or near areas with excellent infrastructure. NeoTerrex is positioning itself to capitalize on the growing critical minerals sector in North America by identifying new deposits in favorable locations.
For further information, please contact:
NeoTerrex Minerals Inc. Mathieu Stephens, President & Chief Executive Officer info@neoterrex.com 343-308-2648
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to NeoTerrex's future plans, objectives or goals including those for the Gravitas project. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca.
