American Marconi Wireless News - Chilean Cobalt Corp. Announces Letter of Intent for Exclusive Due Diligence and Option to Acquire Rare Earth Project in Southern Chile

The Project is an ionic adsorption clay-hosted REE deposit located along the coastal belt region near Concepción, Chile, encompassing approximately 4,250 hectares. NeoRe's in-country technical team brings extensive expertise in evaluating, exploring, and developing ionic clay projects with a strong emphasis on environmental responsibility and community engagement. Historical work at the Project includes broad soil sampling and analytical programs, as well as pilot-scale downstream process testing that successfully produced a rare earth oxide concentrate.

The Project is considered to have potential for near-term production, supported by its advantaged infrastructure access, simple mining and processing approach, and a phased development plan designed to minimize the Project's footprint and upfront capital requirements.

Under the terms of the LOI, Chilean Cobalt will undertake a period of exclusive due diligence while completing a phased exploration program aimed at defining the Project's resource potential and assessing its economic feasibility, while evaluating downstream processing and offtake partnerships in the United States. Upon satisfactory completion of these evaluations and the negotiation of definitive terms, Chilean Cobalt will have the option to acquire 100% of the Project from NeoRe.

The final agreement will include customary conditions precedent, termination rights, and a jointly developed sustainability strategy for the full development cycle of the Project, consistent with the standards expected for a transaction and project of this nature.

This press release does not constitute an offer or sale of, or the solicitation of an offer to buy, securities of the Company nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Chilean Cobalt Corp.

Chilean Cobalt Corp. is a US-based and US-listed critical minerals exploration and development company focused on the La Cobaltera and El Cofre projects in northern Chile, one of the world's few primary cobalt districts. Chilean Cobalt is committed to creating ecological and social value for all stakeholders; economic value for Chile and the Chilean communities in which it operates; and financial value for its shareholders.

Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Examples of forward-looking statements, include, among others, statements the Company makes regarding its ability to achieve a definitive agreement with the option to acquire the Project, ability to incorporate the newly acquired claims into its next phase of exploration, ability to establish "Proven" or "Probable" Reserves, as defined by the SEC under Industry Guide 7, through the completion of a Definitive Feasibility Study for the minerals that the Company seeks to produce and the inherent risks of mining, exploration, development, and processing operations that may negatively impact the business. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACTS:

Chilean Cobalt Corp.
Duncan T. Blount
Chairman & CEO
[email protected]

SOURCE: Chilean Cobalt Corp.

View the original press release on ACCESS Newswire

M.Thompson--AMWN