Selection of Contractor for USTDA Funded Project

NeoTerra (LSE: TERA) (OTCQB: ANRCF), the African critical minerals exploration and development company, is pleased to announce that it has selected Valentine Enterprises ("Valent") to lead the USTDA-funded Pre-Feasibility Study (the "Study") at its Monte Muambe Rare Earths Project in Mozambique.

Valent brings a rare combination: hands-on USTDA delivery experience, deep African mining expertise, and critical minerals commercialisation know-how.

Valent has partnered with two specialist firms for the Study:

SGS North America Inc ('SGS") - technical support across critical minerals metallurgy, mineral testing, process engineering and project development.

New Dominion Consulting LLC ("New Dominion") - supply chain, sustainability, procurement and operations.

Valent's proposal combines some of the best technical experts in the world with a solid understanding of US value chains - exactly what the Project needs to move to its next stage.

The appointment is subject to final USTDA approval which is expected to be received shortly. The Study is set to begin next month with the kick off meeting and site visit, which will be followed in due course by the execution of a short drilling campaign to recover representative metallurgical samples.

Cedric Simonet, CEO of NeoTerra, commented:

"Valent, SGS and New Dominion all bring a reputation for excellence, and together they're the right team to deliver this Study. I'm looking forward to advancing the Project through drilling and metallurgy, and to securing our future supply chain."

• 13.6Mt at 2.42% TREO
• 3.48Mt at 20.6% CaF2
• 11.73Mt at 54.7g/t Ga2O3

The project is held under a 25-year mining licence and has received US Government support in the form of a US$ 1.875 million grant from USTDA to advance the rare earths component through the prefeasibility stage.