American Marconi Wireless News - Chilean Cobalt Corp. Advances Integrated Development Strategy at NeoRe Rare Earth Project with Expanded Drilling, Defined Modular Extraction Plant and Accelerated Path to First Production

Chilean Cobalt, through project operator NeoRe Spa ("NeoRe"), is executing an integrated development program designed to transition NeoRe from district-scale exploration into structured, modular development, with a focus on resource definition, process engineering, and regulatory readiness.

Drilling continues at Target 7 and the recently accessed Las Corrientes property, which is now a key area for planned MEP-1 development. Recent work at Las Corrientes has been underway for the past three weeks to help define the initial resource base for first modular development. At Target 7, drilling has confirmed continued rare earth mineralization within the developing MEP-1 horizon, with intercepts returning up to 322 ppm TREO. Approximately 622 meters have been drilled across 90 holes year-to-date.

Conceptual engineering for MEP-1 has now been completed, resulting in a defined modular plant configuration designed for phased development and scalability across the district. Engineering has advanced into detailed technical studies, including topography, hydrology, hydrogeology, and geotechnical work, while supplier engagement has begun for key processing equipment. Preliminary OPEX estimates have also been completed at a conceptual level, supporting ongoing flowsheet and economic evaluation. In parallel, NeoRe has initiated the patenting process for its proprietary rare earth processing technology focused on ionic clay beneficiation.

Permitting activities are also advancing, with a pre-feasibility environmental study and pertinence consultation awarded, and a framework agreement approved to support the exploitation permit submission to Sernageomin. These steps are intended to streamline the regulatory pathway for MEP-1 in line with Chilean requirements and international ESG best practices and standards.

NeoRe's broader land position across the Bio Bio and Ñuble regions has been refined into a focused development framework, with priority given to confirmed tenements and additional targets in the southern zone of the district. The portfolio now comprises 6 confirmed mining tenements (~1,800 hectares), 12 tenements requiring further work (~3,600 ha), 42 tenements planned for near-term exploration (~12,500 ha), and 6 discarded tenements (~1,800 ha), reflecting a structured approach to district-scale development.

In parallel with technical and regulatory progress, Chilean Cobalt and NeoRe are actively engaging with potential processing partners, offtake counterparties, and end-market users as part of a broader strategy to support downstream integration and strengthen alignment with global REE supply chain requirements, as well as to position the Project for strategic financing. These discussions are focused on supporting commercial pathways for future production from MEP-1 and subsequent modular expansion across the district.

Building on this progress, Chilean Cobalt and NeoRe are executing an accelerated development strategy for MEP-1, with NeoRe targeting first production in the first half of 2027, subject to ongoing technical, permitting, construction, and financing milestones. This timeline is supported by parallel execution across drilling, engineering, regulatory, and procurement workstreams, as well as the staged development of modular production units across the district.

"We are seeing NeoRe transition into a clearly defined development program," said Duncan T. Blount, Chairman and Chief Executive Officer of Chilean Cobalt. "With engineering advancing for MEP-1, drilling expanding across key areas, and permitting frameworks advancing, NeoRe is increasingly defined by execution and development readiness. We also believe NeoRe's focus on heavy REEs position the Project strategically within emerging U.S. and allied supply chains, strategic for defense and advanced technologies."

NeoRe Chief Executive Officer, Arturo Albornoz, added, "The integration of drilling, engineering, and permitting is enabling a clear pathway towards development. Combined with our modular approach and technology development, NeoRe's focus on heavy REEs supports a differentiated strategic position within global rare earth supply chains and our accelerated path towards first production in 2027."

Any definitive acquisition agreement, if completed, will include customary conditions precedent, termination rights, and a jointly developed sustainability and community engagement framework, consistent with Chilean regulatory requirements and industry best practices.

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 critical minerals exploration and development company focused on the La Cobaltera and El Cofre cobalt-copper projects in northern Chile's historic San Juan district, 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 under the option to acquire the Project, ability to incorporate any acquired claims into its next phase of exploration, ability of the Project to successfully accelerate the exploration work program, ability to establish "Proven" or "Probable" Reserves, as defined by the SEC under Regulation S-K, Subpart 1300, 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

F.Pedersen--AMWN