USTDA Grant Agreement for Monte Muambe Signed

Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that its subsidiary Monte Muambe Mining Limitada has formally executed a grant agreement ("Agreement") with the US Government, through the United States Trade and Development Agency ("USTDA").

The Agreement was signed today at the United States Embassy in Maputo in the presence of Mrs. Sarah Troutman, Deputy Assistant Secretary, Bureau of African Affairs, US Department of State. This signing represents a significant milestone and marks the formal commencement of the strategic partnership with the United States Government to advance the Monte Muambe rare earths project in Mozambique.

Strategic Partnership and Funding

Under the terms of the Agreement, USTDA will provide a grant of US$ 1,875,000 to fund the metallurgy and process engineering components of the Monte Muambe rare earths prefeasibility study.

The funded program will include:

• A targeted drilling campaign to obtain representative metallurgical samples
• Comprehensive metallurgical testing and engineering studies covering comminution, beneficiation and hydrometallurgy, including the separation of NdPr oxide from mixed rare earth carbonate
• Associated environmental and commercial studies
• Engagement with potential US off-take partners
• The development of an updated financial model

The grant fully funds these critical de-risking workstreams, which will run in parallel with the on-going development of the Company's high-grade fluorspar deposits. Selection of the contractor(s) to undertake the funded work will commence in due course.

Strengthening Critical Mineral Supply Chains

Thomas R. Hardy, USTDA's Deputy Director, commented: "Securing access to rare earths is essential for America's defense industrial base and our technological edge. By partnering on the Monte Muambe project, we're advancing both countries' strategic priorities: strengthening U.S. supply chain security while supporting Mozambique's goal of becoming a major player in the global critical minerals market."

Cedric Simonet, CEO, commented: "The USTDA grant represents more than just non-dilutive funding - it is a tangible operational partnership and a powerful strategic endorsement. Working with the US Government through USTDA significantly advances the Company's ambition to become a major, responsible Western source of magnet rare earths.

"Alignment with US strategic priorities represents a transformative step for Altona. We expect this collaboration to deepen over the life of the project, complementing our recent initiative to position the Company on North American capital markets through our application to trade on the OTCQB."

​

To subscribe for RNS alerts, please visit: https://investors.altonare.com/

Altona Rare Earths Plc

Cédric Simonet, CEO +44 (0) 7778 866 108 (cs@altonare.com)

Louise Adrian, CFO +44 (0) 7721 492 922 (la@altonare.com)

Strand Hanson (Financial Adviser) +44 (0) 20 7409 3494

Christopher Raggett

Imogen Ellis

Zeus Capital (Corporate Broker) +44 (0) 20 3829 5000

Simon Johnson

James Hornigold

About Altona Rare Earths Plc

The multi-commodity Monte Muambe Project in northwest Mozambique is a highly prospective tenement hosting rare earths, fluorspar, and gallium mineralisation. Since acquiring the project in June 2021, Altona has drilled over 7,800 metres, delivering a maiden JORC Mineral Resource Estimate of 13.6Mt at 2.42% TREO, secured a 25-year mining licence (granted December 2024), and published a Competent Person Report and scoping study for the rare earths component of the project (October 2023). The Company has received a grant from USTDA to advance the rare earths project through the prefeasibility stage.

In parallel, Altona is progressing plans to fast-track the development of high-grade fluorspar veins identified along the western and southern margins of Monte Muambe, with a targeted production of 50,000 tonnes per annum of acid-grade fluorspar over a minimum 12-year mine life. Acid-grade fluorspar is a key input in a wide range of applications, including hydrofluoric acid, lithium battery electrolyte production, and nuclear fuel refining, placing Altona in a strong position to supply this critical material.