Ottawa, Ontario--(Newsfile Corp. - May 8, 2025) - NeoTerrex Minerals Inc. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to announce its fully-funded exploration plans for the 2025 field season. Work will focus on its critical mineral assets, with an emphasis on its rare earths projects. The work planed includes surface prospecting, geological mapping, surficial geochemistry and drilling. An initial budget of $2 Million has been set aside for the program but may be increased based on results or other material factors.
Projects located in a favorable jurisdiction with up to 45% exploration tax credit incentive for the critical and strategic metal sectors
Mount Discovery Rare Earth Elements ("REE") Project
A spring exploration program is underway and is focusing on the portion of the project where rare earths-bearing carbonatite were previously identified with the objective of determining the extent of the REE mineralization and host lithology. A portion of the samples extracted will be used for mineralogical studies to determine the source minerals for the rare earths. The carbonatite is adjacent to the King showing were channel sampling intersected 3.25% Total Rare Earth Oxide ("TREO") over 27.5 metres in 2022 (for additional details see NeoTerrex website).
Galactic REE Project
Additional surface work is to be conducted on the Galactic project and will follow-up on the 38 critical minerals discoveries made on the project in 2024 (see NeoTerrex December 6th, 2024 news release). The principal objective is to evaluate the occurrences for their potential for sizeable volume and extract additional samples for mineralogical studies. Among the 2024 discoveries to be visited are:
The 2025 program will also focus on expanding on last year's program whereas less than 20% of the surface area of the project had been prospected at the time. The targeted areas include both radiometric and magnetic anomalies, and areas where elements often associated with REE mineralization were identified in the 1970s.
Strange Lake West REE Project
A maiden exploration program is planned for the rare earths Strange Lake West project located in northeast Quebec, 6 kilometres west of the Strange Lake heavy rare earth deposit of indicated resource of 278 million tonnes at 0.93% TREO and inferred resources of 214 million tonnes at 0.85% TREO (Micon International, 2017).
The project is centered on an area with a geological and geophysical signature similar to the Lac Brisson Pluton area which contains the Strange Lake deposit, and in an area where several rare earths occurrences had been discovered several years ago but not followed up on. Historical samples from the project have returned up to 1.4% TREO, including significant heavy REE values in some areas.
The upcoming exploration program will target these anomalies and mineralized areas, with the aim to locating additional mineralization like that that of the nearby deposit.
Gravitas Tungsten-Gold Project
Initial field work on the Gravitas project will focus on various portions of the property where mineralization had been reported in the past. A priority will be to locate and sample the historic Petosa tungsten zone which was first identified in the 1930 with subsequent recorded work having exposed tungsten-bearing minerals over widths varying from 1 to 5 metres within a porphyry extending over 150 metres in length. Historical grab samples had recorded tungsten values ranging between 0.5% and 4% tungsten (W), while a 1941 government-sponsored metallurgical testing established an 87.25% recovery rate (GM14469). Other areas were gold and base metals have been identified will also be visited and sampled. Most of the work will focus on the portion of the project located on strike with Vior's pass-producing Belleterre gold mine. The first phase of the program is expected to be completed by the end this month.
Monument REE Project
Exploration on the Monument project is schedule to start mid-summer and is to focus on the central portion of the property. The project is located west of the Montviel carbonatite (another significant REE deposit in Quebec) and within a geological/geophysical similar that of the deposit. Thick glacial sediments have masked the geology, but a cluster of unexplained electromagnetic anomalies along a regional magnetic high similar to the nearby REE deposit provide a compelling exploration target.
Revolver REE Project
A surface exploration program is scheduled to be undertaken during the summer months on the Revolver project, where the Company had discovered 21 news occurrences last year. The program will focus on the western portion of the project where results had returned the highest value in heavy rare earths, mostly Dysprosium.
Advanced exploration
Advanced exploration, including drilling is to be undertaken upon completion of the summer programs.
NeoTerrex is well financed with a working capital of $4 million and no debt. 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 its 2025 exploration plans and budget. 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.
