MTM Critical Metals signs MOU with Meteoric Resources After Successful Proof-of-Concept Beneficiation Test Work on Rare Earth Element-rich Mixed Rare Earth Carbonate Product at Meteoric's Caldeira...

Revolutionary Flash Joule Heating Process Recovers High-Value Rare Earth Elements in a Single Flash from Ionic Clay

HOUSTON, June 17, 2025 /PRNewswire/ -- MTM Critical Metals (ASX: MTM; OTCQB: MTMCF) whose US subsidiary Flash Metals USA Inc. is commercializing the innovative Flash Joule Heating (FJH) technology, announced today it has signed a non-binding Memorandum of Understanding with Meteoric Resources NL to collaborate on the downstream processing of mixed rare earth carbonate (MREC) from Meteoric's flagship Caldeira Rare Earth Project in Brazil – one of the leading ionic clay REE projects progressing toward commercialization.

The MOU follows the successful completion of proof-of-concept testwork by MTM that uses the proprietary FJH technology on a sample of Meteoric's MREC product. The test demonstrated a chloride-based refining pathway that:

• Concentrated valuable magnet and key heavy rare earths – Nd, Pr, Dy, and Tb.
• Separated more than 80% of low-value material from valuable magnet REEs in a single, un-optimized flash.
• Recovered 81% of terbium, one of the rarest and highest-value REEs for critical defense and civilian technologies
• Did not require the use of acids or solvents.

The FJH process delivers results comparable to multi-stage solvent extraction, but is faster, simpler, rapidly deployable and modular, with potential to dramatically reduce capital, operating costs and deployment timeframes while supporting western supply chain development.

"Our proof-of-concept work on Meteoric's MREC clearly shows the transformative potential of Flash Joule Heating," said Michael Walshe, MTM Managing Director & CEO. "In a single flash we shifted the product mix decisively toward the high-value magnet rare earths, dramatically lifting material value while stripping out waste. Subsequent multi-flash runs are anticipated to further improve performance. We believe that our process offers what could become the first Western, chloride-based upgrading route for ionic-clay feedstocks."

Rare earth processing is typically complex, expensive and dominated by Chinese-controlled infrastructure. Most developers produce (or plan to produce) an MREC product, but then rely on established offshore solvent extraction refineries, which can involve hundreds – or thousands – of mixer-settler stages to reject low-value elements and purify high-value magnet metals such as neodymium, praseodymium, dysprosium and terbium to commercial specifications. "Flash Joule Heating offers a potential breakthrough alternative," Walshe affirmed.

Additional information on the testing is available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02957259-6A1268795&v=04711220c3a57065317ba4efca4a3459a4e46882

Flash Joule Heating was developed at Rice University and MTM's 100% owned USA subsidiary Flash Metals USA, Inc. has the exclusive licensing rights to this innovative technology. In addition to its use in beneficiation for rare earths, the technology can also extract metals such as lithium from spodumene, gallium, antimony, gold and other metals from e-waste. FJH has potential to revolutionize metal recovery by reducing energy consumption, reagent use and waste, thereby offering a more economical and environmentally friendly alternative. Additional information can be found at MTM's website: https://www.mtmcriticalmetals.com.au.

View original content:https://www.prnewswire.com/news-releases/mtm-critical-metals-signs-mou-with-meteoric-resources-after-successful-proof-of-concept-beneficiation-test-work-on-rare-earth-element-rich-mixed-rare-earth-carbonate-product-at-meteorics-caldeiras-project-in-brazil-302483995.html

SOURCE MTM Critical Metals Ltd.