Viridis Mining Expands Colossus Project Rare Earth Holdings by 46%

A Transformational Expansion in Prime Territory

The newly acquired land package increases Viridis' total landholding in the Poços De Caldas Alkaline Complex to approximately 235 km², creating one of the largest rare earth projects globally. This strategic expansion particularly strengthens the company's position in the Municipality of Poços de Caldas, which has become the hub of its development strategy.

With a 493 million tonne Mineral Resource already defined across just a fraction of its existing landholding, this new acquisition provides substantial runway for further resource growth. The expansion at Viridis Mining and Minerals Ltd Colossus Project delivers particularly significant increases to key project areas:

• Northern Concessions: 46% expansion – The area hosting the planned production facility and initial mining operations
• Tamoyo Prospect: 144% expansion – Contains the highest-grade deposit in the Colossus JORC Resource (770ppm MREO)

The acquisition was structured on favorable terms, with total consideration of US$3.0 million payable as an advanced royalty beginning in 2026, plus 5 million ordinary shares subject to voluntary escrow periods of 12-36 months.

Exceptional Government Support Creates Clear Path to Production

Viridis has secured unprecedented support from local and state governments, creating a de-risked pathway to approvals and production:

• Landmark MOU with the Municipality of Poços de Caldas providing support for permitting, infrastructure, and tax incentives
• Certificate of Regularity for Land Use and Occupation authorising the Colossus Project development
• Industrial Land Donation of 2,071m² for the establishment of the Centre for Rare Earths Innovation, Technology and Recycling (CRITR)
• Strong public endorsement during Environmental Impact Assessment hearings

This strong government alignment has positioned the Colossus Project to avoid complications related to Environmental Preservation Areas, buffer zones, or indigenous land concerns, ensuring a clear and accelerated path to production.

"This acquisition marks a pivotal milestone for Viridis as we secure substantial additional ground directly adjacent to our existing licenses in Poços de Caldas. With government support, we are particularly pleased to announce a 46% expansion of the Northern Concessions, the heart of our production facility and initial mining operations." – Rafael Moreno, Managing Director

World-Class Resource Base with High-Value Mineralogy

The Colossus Project already boasts impressive resources and reserves:

• 493Mt Mineral Resource at 2,647ppm TREO including 741ppm MREO
• 200.6Mt Maiden Ore Reserve at 2,640ppm TREO including 740ppm MREO

Drilling at boundary intercepts has demonstrated strong continuation of high-value rare earth mineralogy into the newly acquired areas, with highlights including:

• 52m @ 2,926ppm TREO including 8m @ 4,239ppm MREO at the Northern Concessions
• 13m @ 3,563ppm TREO including 6m @ 1,352ppm MREO at Tamoyos District

Understanding Ionic Adsorption Clay Rare Earth Deposits

Ionic Adsorption Clay (IAC) rare earth deposits represent a particularly valuable type of rare earth resource that differs significantly from conventional hard-rock deposits. These deposits form when rare earth elements from underlying bedrock are weathered, released, and subsequently adsorbed onto clay minerals in the soil profile.

Key Characteristics of IAC Deposits

Simple Processing Requirements: Unlike hard-rock deposits that require complex and energy-intensive processing, IACs can be processed using simple leaching techniques. The rare earth elements in IACs are weakly bonded to clay minerals, making them readily extractable using relatively mild chemical solutions such as ammonium sulfate.

High MREO Content: IAC deposits typically contain higher proportions of the most commercially valuable rare earth elements – the magnetic rare earth oxides (MREOs) including neodymium, praseodymium, dysprosium and terbium. These elements are crucial components in high-performance permanent magnets used in electric vehicles, wind turbines, and other green technologies.

Lower Environmental Impact: The processing of IACs generally results in less environmental disruption compared to conventional rare earth mining. The extraction process produces minimal radioactive waste, a significant advantage over many hard-rock rare earth operations that must manage thorium and uranium by-products.

Economically Viable at Lower Grades: Due to their simpler processing requirements and typically higher proportions of valuable heavy rare earths, IAC deposits can be economically viable at lower overall rare earth grades compared to hard-rock deposits.

The Colossus Project's IAC deposits show particularly favorable characteristics, with an average of 28-29% of total rare earth content consisting of the high-value MREOs. This makes the project especially attractive from both economic and strategic perspectives, as these critical elements command premium prices in global markets due to their essential role in green energy technologies.

Strategic Partnerships Underscore Project Quality

The Colossus Project's world-class economics and strong ESG credentials have attracted strategic partnerships with:

• Two of Brazil's foremost asset managers, ORE Investments and Régia Capital
• The Brazilian National Bank for Economic and Social Development (BNDES)
• The Federal Agency for Studies and Projects (FINEP)

These partnerships provide validation of the project's robust economic profile and clear regulatory pathway.

Northern Concessions Expansion

The 46% expansion of the Northern Concessions area significantly enhances the core production hub of the Colossus Project. This area already hosts a substantial 215Mt Mineral Resource and a 97.4Mt Probable Ore Reserve, with average grades of 2,405ppm TREO including 698ppm MREO.

Boundary drilling has demonstrated strong mineralisation continuity into these newly acquired areas, with notable intercepts including:

• FZ-RC-0029: 52m @ 2,926ppm TREO, including 8m @ 4,239ppm MREO
• FZ-RC-0060: 34m @ 2,319ppm TREO, including 13m @ 1,151ppm MREO
• FZ-RC-0172: 50m @ 2,575ppm TREO, including 22m @ 1,019ppm MREO
• FZ-RC-0205: 25m @ 2,973ppm TREO, including 14m @ 1,225ppm MREO

These results confirm the extension of high-value MREO mineralisation into the new concessions and support Viridis' plans for near-term step-out drilling programs to expand the resource base.

Tamoyos District Development

The former Tamoyo Prospect has been redefined as the Tamoyos District, with a significant 144% expansion toward the centre of the Poços de Caldas Alkaline Complex. This area currently hosts an Inferred Mineral Resource of 18Mt at 2,896ppm TREO, including 770ppm MREO, representing the highest-grade MREO deposit within the Colossus JORC Resource.

Key drill results from the southern part of this district highlight the potential for resource expansion:

• TM-DDH-0004: 20.57m @ 2,534ppm TREO, including 3.27m @ 2,802ppm MREO
• TM-RC-0077: 25.00m @ 3,465ppm TREO, including 9m @ 2,318ppm MREO
• TM-RC-0081: 30.00m @ 2,285ppm TREO, including 8m @ 1,009ppm MREO
• TM-AG-0036: 13.00m @ 3,563ppm TREO, including 6m @ 1,352ppm MREO

Western District: Emerging Growth Corridor

Beyond the areas already incorporated into the JORC Mineral Resource, Viridis is advancing exploration in the Western District, an area on the western flank of the Poços de Caldas Alkaline Complex. Initial work has demonstrated consistent rare earth mineralisation with encouraging results:

• FC-AG-0002: 13.00m @ 7,632ppm TREO, including 4m @ 2,322ppm MREO
• FC-AG-0005: 15.00m @ 2,791ppm TREO, including 9m @ 1,025ppm MREO
• CP-AG-0005: 8.00m @ 3,437ppm TREO, including 4m @ 1,339ppm MREO
• CP-AG-0006: 6.00m @ 4,130ppm TREO, including 6m @ 1,237ppm MREO

Notably, Mining Right 834.214/1994 (852.1 hectares) in this district is already at the Mining Requested stage and lies inside the Municipality of Poços de Caldas, providing a clear regulatory pathway for future development.

Why Investors Should Watch Viridis

Viridis has positioned itself as a dominant player in the global rare earth sector with:

1. Massive scale: One of the world's largest ionic clay rare earth resources with substantial expansion potential
2. High-value mineralogy: Exceptional grades of magnetic rare earth oxides critical for green technology
3. De-risked pathway: Unprecedented government support and clear environmental approval process
4. Strategic location: Based in Brazil, a stable mining jurisdiction aligned with Western supply chains
5. Institutional backing: Support from major Brazilian financial institutions

As global demand for rare earth elements continues to grow, driven by the transition to clean energy and electric vehicles, Viridis appears well-positioned to become a significant supplier of these critical materials from a stable, Western-aligned jurisdiction.

The company is now advancing several key initiatives, including environmental permitting, development of a Mixed Rare Earth Carbonate demonstration plant, project financing discussions, offtake strategy development, and a Definitive Feasibility Study with metallurgical optimisation work.

Want to Capitalise on This Rare Earth Opportunity?

For investors seeking exposure to one of the world's largest rare earth projects with strong government backing and exceptional MREO grades, Viridis Mining and Minerals' expanded Colossus Project presents a compelling opportunity. To review the complete details of this strategic acquisition and understand how it strengthens Viridis' position in the critical minerals sector, access the full ASX announcement here.