Verde Announces Niobium Results from Man of War Rare Earths Project

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SINGAPORE, Dec. 02, 2024 (GLOBE NEWSWIRE) — Verde AgriTech Ltd (TSX: “NPK”) (OTCQX: “VNPKF”) (“Verde” or the “Company“) is pleased to announce new findings within Man of War Rare Earths Project, revealing niobium mineralization (“Nb2O5”), including results up to 2,274 ppm Nb2O5. These results reinforce the potential of Man of War as a significant critical minerals and rare earth elements (“REE”) resource, with key highlights including:

  • Nau de Guerra Target:
    • Hole AP-ND-14 including:
      • 30m @ 964 ppm Nb2O5 [20m];
      • 5m @ 1,450 ppm Nb2O5 [28m]; and
      • 1m @ 1,877 ppm Nb2O5 [29m].
  • Balsamo Target:
    • Hole AP-BD-01 including:
      • 33m @ 895 ppm Nb2O5 [53m];
      • 5m @ 1,701 ppm Nb2O5 [62m]; and
      • 1m @ 2,227 ppm Nb2O5 [65m].
  • Alto da Serra Target:
    • AP-AD-16 including:
      • 52m @ 767 ppm Nb2O5 [0m];
      • 5m @ 1,810 ppm Nb2O5 [7m]; and
      • 1m @ 2,274 ppm Nb2O5 [7m].

In previous announcements, the Company reported substantial concentrations of Total Rare Earth Oxides (“TREO”), Magnet Rare Earth Oxides (“MREO”) and scandium oxide (“Sc₂O₃”) within the same intervals where the niobium results were identified. During the ongoing consolidation of assay data, the potential for niobium concentrations emerged, allowing Oby to evaluate the feasibility of extracting niobium as a co-product from the Man of War Project’s rare earth deposit.

Below is a comprehensive table presenting the niobium assay results for all intervals previously announced. These results underscore the continuity of high-grade niobium zones within the mineralized areas of the Man of War Project. Each entry specifies the drill hole, total interval length, depth, and niobium concentration (Nb₂O₅ in ppm), providing further insight into the project’s significant niobium potential:

Target Hole Total
Length (m)		 From (m)  To (m) Thickness (m)  Nb2O5(ppm)
Nau de Guerra AP-ND-02 47.35 0 43 43 735
Including 0 15 15 879
Including 0 5 5 992
AP-ND-03 79.4 0 74 74 577
Including 17 30 13 915
Including 24 29 5 1,055
AP-ND-04 51.95 0 40 40 519
Including 5 25 20 577
Including 5 10 5 605
AP-ND-05 71.65 0 69 69 624
Including 9 26 17 836
Including 20 25 5 1,239
AP-ND-06 47.4 0 43 43 594
Including 0 21 21 700
Including 0 5 5 894
AP-ND-07 33.25 0 31 31 795
Including 0 26 26 899
Including 20 25 5 1,198
AP-ND-08 42.8 0 39 39 830
Including 0 39 39 830
Including 6 11 5 1,042
AP-ND-09 78.7 0 78 78 616
Including 20 34 14 1,107
Including 27 32 5 1,308
AP-ND-11 42.7 0 38 38 641
Including 0 11 11 758
Including 0 5 5 979
AP-ND-12 24.5 0 22 22 709
Including 0 22 22 709
Including 12 17 5 863
AP-ND-13 21.45 0 17 17 656
Including 0 17 17 656
Including 5 10 5 894
AP-ND-14 67.2 0 65 65 753
Including 20 50 30 964
Including 28 33 5 1,450
AP-ND-15 59.65 0 57 57 648
Including 12 32 20 755
Including 10 15 5 1,038
AP-ND-16 51.95 0 49 49 629
Including 2 22 20 797
Including 11 16 5 916
AP-ND-17 23 0 19 19 720
Including 2 16 14 852
Including 5 10 5 1,210
Balsamo AP-BD-01 131.25 40 130 90 607
Including 53 86 33 895
Including 62 67 5 1,701
AP-BD-02 134 38 132 94 542
Including 55 113 58 651
Including 62 67 5 1,060
AP-BD-03 135 44 133 89 544
Including 58 109 51 681
Including 65 70 5 1,138
AP-BD-04 137 41 136 95 513
Including 59 118 59 635
Including 65 70 5 1,312
AP-BD-05 97.7 6 95 89 555
Including 21 71 50 699
Including 26 31 5 1,054
AP-BD-06 136.92 44 134 90 599
Including 59 119 60 726
Including 68 73 5 1,022
AP-BD-07 135.85 41 133 92 580
Including 60 113 53 739
Including 67 72 5 1,132
AP-BD-08 78.45 0 76 76 587
Including 4 59 55 664
Including 11 16 5 669
AP-BD-09 85 0 83 83 617
Including 11 60 49 772
Including 18 23 5 1,463
AP-BD-10 128 37 126 89 583
Including 58 92 34 822
Including 63 68 5 1,371
AP-BD-11 139 46 136 90 548
Including 62 113 51 675
Including 67 72 5 1,347
AP-BD-12 134 38 131 93 541
Including 55 80 25 636
Including 63 68 5 710
AP-BD-13 106 18 103 85 663
Including 35 98 63 779
Including 46 51 5 1,183
Alto da Serra AP-AD-01 55 4 50 46 641
Including 4 38 34 651
Including 12 17 5 655
AP-AD-02 90 18 81 63 668
Including 19 68 49 703
Including 28 33 5 1,487
AP-AD-03 106.95 40 100 60 630
Including 40 82 42 690
Including 48 53 5 1,364
AP-AD-04 112.95 34 108 74 574
Including 51 90 39 716
Including 56 61 5 1,403
AP-AD-05 82.45 26 79 53 679
Including 26 65 39 695
Including 34 39 5 1,126
AP-AD-06 94.65 27 91 64 642
Including 28 70 42 744
Including 36 41 5 1,737
AP-AD-07 116.15 45 113 68 667
Including 57 113 56 751
Including 66 71 5 1,340
AP-AD-08 96.3 28 89 61 810
Including 28 89 61 810
Including 47 52 5 1,589
AP-AD-09 100.85 38 95 57 632
Including 44 86 42 672
Including 46 51 5 1,315
AP-AD-11 33.65 0 31 31 538
Including 1 15 14 654
Including 3 8 5 759
AP-AD-12 73.3 18 68 50 895
Including 18 68 50 895
Including 25 30 5 1,510
AP-AD-13 29.05 0 26 26 567
Including 0 18 18 641
Including 1 6 5 715
AP-AD-16 55 0 52 52 767
Including 0 52 52 767
Including 7 12 5 1,810
AP-AD-17 70.35 3 66 63 719
Including 6 48 42 768
Including 12 17 5 1,671
AP-AD-18 76.35 9 70 61 669
Including 12 70 58 663
Including 18 23 5 1,512
AP-AD-19 67.2 9 66 57 690
Including 18 63 45 730
Including 18 23 5 1,433

“While in isolation the niobium grades might not be economically viable, when combined with the potential future exploration of rare earths, it adds significant value to the project, enhancing its overall attractiveness and strategic importance,” said Cristiano Veloso, Founder & CEO of Verde.

Significance of Niobium

Niobium is a critical mineral with essential applications in high-tech industries, including renewable energy, electronics, and aerospace, where it is valued for its role in enhancing material strength, heat resistance, and use in advanced technologies1.

Market Value of Niobium

According to recent industry analyses, niobium maintains a high market value due to its scarcity and specialized applications. Niobium in its pure form can command prices ranging from $40 to $50 USD per kilogram, while high-purity niobium alloys are even more valuable due to their enhanced properties for use in aerospace, automotive, and energy applications2.

The Company has commissioned the preparation of a mineral resource report, to be completed in compliance with both NI 43-101 and Australian JORC standards and remains committed to responsible exploration and ongoing analysis at the Man of War Rare Earths Project. Further updates on niobium and other rare earth findings will be provided as exploration progresses.

For further technical details, the link below provides comprehensive information on the project’s location, geology, and full assay results for all rare earths elements: https://investor.verde.ag/events/investor-presentation-man-of-war-project/.

Qualified Person

The information in this announcement that relates to exploration results is based on information reviewed, recommended data collection methodologies, and overseen by QP Volodymyr Myadzel. Dr. Myadzel, PhD in Geology and a Member of the Australian Institute of Geoscientists (MAIG), brings over 25 years of experience in mineral exploration, resource modeling, and estimation of mineral deposits. His expertise spans the origin of mineralization and ore precipitation mechanisms across various geological environments. Dr. Myadzel has extensive experience in fieldwork, exploration, mineralogy, and petrography of metamorphic rocks and mineral deposits. He is also skilled in the preparation of core samples for analysis, sedimentology of alluvial and talus sediments, and the investigation of primary and secondary lithogeochemical dispersion patterns. His laboratory capabilities include transmitted-light microscopy and ore microscopy for petrography and ore mineralogy. Dr. Myadzel is a recognized Competent Person (CP) under the JORC Code and a Qualified Person (QP) under Canada’s NI 43-101 standards. He will serve as the Qualified Person for Mineral Resource estimation.

About Verde AgriTech

Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers. Our mission is to increase agricultural productivity, enhance soil health, and significantly contribute to environmental sustainability. Utilizing our unique position in Brazil, we harness proprietary technologies to develop solutions that not only meet the immediate needs of farmers but also address global challenges such as food security and climate change. Our commitment to carbon capture and the production of eco-friendly fertilizers underscores our vision for a future where agriculture contributes positively to the health of our planet.

For more information on how we are leading the way towards sustainable agriculture and climate change mitigation in Brazil, visit our website at https://verde.ag/en/home/.

Company Updates

Verde invites you to subscribe for updates. By signing up, you’ll receive the latest news about the Company’s projects, achievements, and future plans.

Subscribe at the following link: http://cloud.marketing.verde.ag/InvestorsSubscription

Cautionary Language and Forward-Looking Statements

All Mineral Reserve and Mineral Resources estimates reported by the Company were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards (May 10, 2014). These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

This document contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward-looking statements,” are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations, or beliefs regarding future events. These statements include, but are not limited to:

  1. The potential for niobium concentrations identified in the Nau de Guerra, Balsamo and Alto da Serra targets to support economic extraction;
  2. The potential for further exploration to identify expanded zones of mineralization;
  3. The completion of a mineral resource report in compliance with both NI 43-101 and JORC standards to validate the niobium results obtained;
  4. The Company’s ability to secure financing to continue exploration and development of niobium resources within the Man of War project;
  5. The estimated costs and logistics associated with the continued exploration and potential development of niobium within the project area.

It is important to note that Man of War project is currently in the initial phase. The results reported here are preliminary and should not be considered definitive indicators of the project’s viability. Further exploration work is required, and there is no guarantee that future drilling will confirm the presence of economically viable mineral reserves.

All forward-looking statements are based on Verde’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them. The most significant assumptions are set forth above, but generally these assumptions include, but are not limited to:

  1. The continuity and presence of niobium and associated rare earth mineralization across the identified zones;
  2. The successful completion of planned exploratory and analytical work;
  3. The availability of necessary financing to support continued exploration activities.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions, and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast, but specifically include, without limitation: risks relating to variations in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted; variations in rates of recovery and extraction; the geotechnical characteristics of the rock mined or through which infrastructure is built differing from that predicted; developments in world metals markets; risks relating to fluctuations in the Brazilian Real relative to the Canadian dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary workforce; increases in financing costs or adverse changes to the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical, or other factors; changes in project parameters as plans continue to be refined; risks relating to receipt of regulatory approvals; delays in stakeholder negotiations; changes in regulations applying to the development, operation, and closure of mining operations from what currently exists; the effects of competition in the markets in which Verde operates; operational and infrastructure risks; and the additional risks described in Verde’s Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2021. Verde cautions that the foregoing list of factors that may affect future results is not exhaustive.

When relying on our forward-looking statements to make decisions with respect to Verde, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Verde does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Verde or on our behalf, except as required by law.

For additional information please contact:

Cristiano Veloso, Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: [email protected]

www.verde.ag | www.investor.verde.ag

_____________________________________

1Niobium uses and applications

2Niobium Price Trend, Market Analysis, and News


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