Aclara Advances EIA Evaluation Process for the Penco Module

March 31, 2025 at 07:00 AM EDT

TORONTO ON / ACCESS Newswire / March 31, 2025 / Aclara Resources Inc. ("Aclara" or "Company") (TSX:ARA) is pleased to announce that it has submitted a comprehensive report (the "Addendum") as part of the Penco Module Environmental Impact Assessment (the "EIA 1") to the Environmental Service Assessment Authority (the "SEA"). The Addendum addresses all the technical observations raised by the SEA and various other government agencies that review the EIA 1 (the "Technical ICSARA"), as well as comments received from local stakeholders (the "Citizen ICSARA"), in respect of EIA 1. The SEA is expected to take approximately 30 days to confirm the next steps of the evaluation process. Aclara remains committed to working closely with the SEA throughout the environmental evaluation process.

Jose Augusto Palma, Aclara's Executive Vice President, commented: "We have worked diligently with our partner CAP S.A.to address all the questions and comments received as part of the Technical ICSARA and the Citizen ICSARA, ensuring that the Penco Module project meets the highest environmental and social standards. We remain committed to working with the authorities and local stakeholders to complete the environmental evaluation process and implement the Penco Module as soon as possible."

The Technical ICSARA, received from the SEA on September 12, 2024, included 394 technical observations on EIA 1. Additionally, the Citizen ICSARA, received on December 12, 2024, comprised 1,331 observations gathered by the SEA during the citizen participation process.

About Acara
Aclara Resources Inc. (TSX:ARA), a Toronto Stock Exchange listed company, is focused on building a vertically integrated supply chain for rare earths alloys used in permanent magnets. This strategy is supported by Aclara's development of rare earth mineral resources hosted in ionic clay deposits, which contain high concentrations of the scarce heavy rare earths, providing the Company with a long-term, reliable source of these critical materials. The Company's rare earth mineral resource development projects include the Carina Project in the State of Goiás, Brazil as its flagship project and the Penco Module in the Biobío Region of Chile. Both projects feature Aclara's patented technology named Circular Mineral Harvesting, which offers a sustainable and energy-efficient extraction process for rare earths from ionic clay deposits. The Circular Mineral Harvesting process has been designed to minimize the water consumption and overall environmental impact through recycling and circular economy principles. Through its wholly-owned subsidiary, Aclara Technologies Inc., the Company is further enhancing its product value by developing a rare earths separation plant in the United States. This facility will process mixed rare earth carbonates sourced from Aclara's mineral resource projects, separating them into pure individual rare earth oxides. Additionally, Aclara through a joint venture with CAP, is advancing its alloy-making capabilities to convert these refined oxides into the alloys needed for fabricating permanent magnets. This joint venture leverages CAP's extensive expertise in metal refining and special ferro-alloyed steels. Beyond the Carina Project and the Penco Module, Aclara is committed to expanding its mineral resource portfolio by exploring greenfield opportunities and further developing projects within its existing concessions in Brazil, Chile, and Peru, aiming to increase future production of heavy rare earths.

Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to the permitting process of the Penco. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to risks related to operating in a foreign jurisdiction, including political and economic problems in Chile and Brazil; risks related to changes to mining laws and regulations and the termination or non-renewal of mining rights by governmental authorities; risks related to failure to comply with the law or obtain necessary permits and licenses or renew them; compliance with environmental regulations can be costly; dependence on relations and agreements with local communities; actual production, capital and operating costs may be different than those anticipated; the Company may be not able to successfully complete the development, construction and start-up of mines and new development projects; risks related to fluctuation in commodity prices; risks related to mining operations; and dependence on the Penco Module and/or the Carina Module. Aclara cautions that the foregoing list of factors is not exhaustive. For a detailed discussion of the foregoing factors, among others, please refer to the risk factors discussed under "Risk Factors" in the Company's annual information form dated as of March 20, 2025, filed on the Company's SEDAR+ profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

For further information, please contact:
Ramón Barúa Costa
Chief Executive Officer
investorrelations@aclara-re.com

SOURCE: Aclara Resources Inc.

View the original press release on ACCESS Newswire

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Aclara Advances EIA Evaluation Process for the Penco Module

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