Viridis Mining Colossus Project Delivers 200.6Mt Rare Earth Reserve

Viridis Mining Delivers Game-Changing 200.6Mt Rare Earth Reserve at Colossus Project

Viridis Mining and Minerals Limited (ASX: VMM) has announced a maiden JORC Reserve of 200.6 million tonnes at its Colossus Rare Earth Project in Brazil, firmly establishing the project as a tier-one asset in the global rare earths sector with potential for over 40 years of production.

Exceptional Grade Profile Confirms Colossus as a World-Class Rare Earth Asset

The reserve, classified as all-probable under JORC standards, features an impressive total rare earth oxide (TREO) grade of 2,640ppm, including an exceptional 740ppm of magnetic rare earth oxides (MREO) – the high-value elements critical for permanent magnets used in electric vehicles and renewable energy technologies.

This represents a significant 61% conversion of the project's current measured and indicated resource to reserves, despite covering only 12% of Viridis' broader landholdings at Colossus, highlighting substantial growth potential.

"To deliver 201Mt at an outstanding 740ppm MREO underscores both the scale and exceptional quality of Colossus. Importantly, this Reserve covers only a fraction of our landholding, with high-grade zones like Tamoyo yet to be included, underscoring Colossus' immense growth potential," said Managing Director Rafael Moreno.

The reserve features several standout metrics:

• 2,640ppm average TREO grade
• 740ppm average MREO grade
• 0.45:1 exceptionally low strip ratio
• 40+ year potential mine life at 5.0Mtpa production rate

Colossus Project: A Low-Impact, High-Value Rare Earth Operation

The Colossus Project is situated within Brazil's Poços de Caldas Alkaline Complex, where lateritic weathering has produced shallow, laterally extensive rare earth mineralisation hosted in clay. This ionic adsorption clay (IAC) style of mineralisation allows for low-impact extraction methods compared to traditional hard-rock rare earth mining.

Key operational advantages include:

• Free-dig mining: No drilling or blasting required
• Progressive rehabilitation: In-pit backfilling eliminates conventional tailings facilities
• Low strip ratio: 0.45:1 waste-to-ore ratio minimises material movement
• Simple processing: Ambient temperature ammonium-sulfate leaching with high water recycling
• Negligible uranium and thorium: Exempt from radiological licensing requirements

The project will utilise a multi-source approach, with material from the Northern Concessions, Southern Complex, and Capão da Onça deposits feeding a centrally located processing facility via beneficiation hubs.

Understanding Magnetic Rare Earths: The High-Value Elements Driving Demand

Magnetic rare earth oxides (MREOs) represent the most valuable components within the rare earth element family. These include neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb) – elements essential for manufacturing the high-performance permanent magnets used in electric vehicles, wind turbines, and other clean energy technologies.

The Viridis Mining Colossus Project's 740ppm MREO grade places it among the highest-grade ionic clay rare earth deposits globally, with a favourable MREO-to-TREO ratio of 28%. This high proportion of valuable elements significantly enhances the project's economics compared to deposits with similar total rare earth content but lower proportions of magnetic elements.

What Makes Magnetic Rare Earths So Valuable?

Magnetic rare earths are essential in the production of neodymium-iron-boron (NdFeB) permanent magnets, which offer several advantages over conventional magnets:

1. Superior magnetic strength: Up to 10 times stronger than traditional ferrite magnets
2. Compact size: Enables miniaturisation of components in electronics and vehicles
3. High temperature resistance: Particularly when enhanced with dysprosium and terbium
4. Energy efficiency: Creates more powerful electric motors with less material

These properties make magnetic rare earths critical materials for the global energy transition, with demand expected to increase significantly as electric vehicle adoption accelerates and renewable energy capacity expands worldwide.

Environmental and Social Advantages Position Colossus for Fast-Track Development

Viridis has designed Colossus with sustainability at its core. The project eliminates the need for conventional tailings storage through its progressive in-pit backfilling strategy, while the processing flowsheet features high water recycling (approximately 75%) with no routine discharge to natural waterways.

The project benefits from existing infrastructure, including paved road access and connection to Minas Gerais' renewables-heavy power grid. Importantly, the company has received exemption from radiological licensing from Brazil's nuclear regulator CNEN, supporting a streamlined permitting pathway.

Socially, the project prioritises local employment with no fly-in, fly-out operations, while partnerships with local educational institutions UNIFAL, IFMG, and SENAI aim to build skills and supply chains in the region.

Strategic Path Forward: Advancing Toward Production

With this maiden reserve established, Viridis is advancing several workstreams to move Colossus toward construction:

1. Environmental permitting: The company has submitted an Environmental Impact Assessment to FEAM (Minas Gerais environmental authority)
2. MREC demonstration plant: To validate process flowsheet and product specifications
3. Definitive Feasibility Study (DFS): Building on the already completed Pre-Feasibility Study
4. Project financing: Leveraging partnerships with ORE Investments, Régia Capital, BNDES, and FINEP
5. Offtake negotiations: Targeting REE separation plants and magnet supply chain participants

Why Investors Should Pay Attention to Viridis Mining

The maiden reserve announcement solidifies Viridis Mining's position as a frontrunner in developing non-Chinese rare earth supplies at a time when Western nations are urgently seeking to secure these critical materials.

Several factors make this development particularly significant:

1. Scale and grade combination: Few projects globally can match Colossus' combination of size (200.6Mt), grade (740ppm MREO), and low strip ratio (0.45:1)

2. Economic robustness: The recently completed Pre-Feasibility Study demonstrated industry-leading economics, with the reserve now extending potential mine life to 40+ years

3. Low technical risk: Ionic clay deposits are technically simpler to process than hard-rock rare earth deposits, with lower capital intensity and operating costs

4. ESG credentials: The project's environmental design and social integration position it favourably in an increasingly ESG-conscious investment landscape

5. Strategic timing: As global rare earth demand accelerates with EV adoption and renewable energy growth, Colossus is positioned to enter production in a favourable market environment

With a strengthened balance sheet and clear development pathway, Viridis Mining offers investors exposure to the rare earth sector through a project of exceptional scale, grade, and economic potential. The Colossus Project's 40+ year mine life provides longevity rarely seen in the mining sector, while its focus on the highest-value magnetic rare earth elements aligns perfectly with the materials most critical to the global energy transition.

Want to Invest in a World-Class Rare Earth Opportunity?

Discover why Viridis Mining's Colossus Project represents one of the most compelling rare earth investment opportunities on the ASX. With a massive 200.6Mt maiden JORC reserve, exceptional 740ppm MREO grade, and potential 40+ year mine life, this tier-one asset is positioned to become a critical supplier of magnetic rare earths for the global energy transition. Learn more about this investment opportunity by accessing the full ASX announcement here.