SYDNEY, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) ('BRE') is pleased to report progress during the quarter ended September 30, 2026. Highlights during and subsequent to the end of the quarter include:

MAIDEN ULTRA-HIGH GRADE MINERAL RESOURCE

• World-leading rare earths grade: Monte Alto’s Mineral Resource grades 11.3% TREO, more than twice the reported grades of the two established large-scale Western rare earth producers.
• Major new source of heavy rare earths plus strategic co-products: Strong dysprosium, terbium, gadolinium and yttrium enrichment, alongside potential uranium, scandium, niobium and tantalum co-products.

INTEGRATED MONTE ALTO + CAMAÇARI SCOPING STUDY

• Exceptional economics: After-tax NPV₈ of US$6.0 billion, IRR of 90%, 1.1-year payback and average annual operating free cash flow of US$1.2 billion.¹
• First-quartile project: Ultra-high grades, simple ore sorting, high yields, established infrastructure and low-temperature processing underpin costs of ~US$21/kg NdPr equivalent.

SUCCESSFUL DRILLING POSITIONS MONTE ALTO FOR RESOURCE GROWTH

• Ultra-high grade extensions: ~10,000 m of drilling completed after the 22 February 2026 Scoping Study cut-off expanded mineralisation south and east/down dip and established a priority growth corridor to the north.
• Q4 2026 resource upgrade: Post-cut-off results could, subject to conversion into Mineral Resources and further studies, support mine life extension and/or increased annual production.

HIGH-GRADE SULISTA SOUTH DISCOVERY AND EXTENSIONS AT SULISTA EAST

• New discovery and extensions: High-grade mineralisation intersected over ~500 m of strike at Sulista South, while step-out drilling extended Sulista East by 430 m.
• Larger, higher-confidence resource targeted: Current step-out and infill drilling campaigns support potential resource growth and Inferred-to-Indicated conversion; updated mineral resource to follow their completion.

PRODUCED FIRST CONCENTRATE; SECURED STAGE II HYDROMET CO-FUNDING

• First concentrate: Stage I commissioning at Camaçari advances bulk metallurgical testwork for the PFS.
• Hydromet piloting: Stage II is 59% partner-funded, with commissioning planned for Q2 2027.

STRONG BALANCE SHEET TO FUND GROWTH

• A$122 million cash and no borrowings at 30 September 2026.

A link to the complete announcement can be found: here

Contacts

Bernardo Da Veiga
Managing Director and CEO

investors@brazilianrareearths.com
www.brazilianrareearths.com

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_{¹ Argus EU/US price case. Refer to the Scoping Study cautionary statement in this report and BRE’s ASX announcement dated 18 August 2026.}