Geomega Obtains U.S. Patent Approval for Metallurgical Extraction of Rare Earths and Niobium

MONTREAL, June 11, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a rare earth clean technologies developer for mining and recycling, is very pleased to announce that Geomega’s patent application US15/578,498 titled, “A system and a method for metallurgical extraction of rare earth elements and niobium,” has been approved for granting by the United States Patent and Trademark Office. 

“The grant of this patent acknowledges that our unique process has been recognized and protected.” said Kiril Mugerman, President & CEO of Geomega. “The Montviel metallurgy research executed in 2014 and 2015 (See news releases from April 29, 2015 and May 20, 2015) led to these patents, and set the framework for how Geomega operates today committed to lowering the environmental footprint of processes to extract and separate REE, reagent regeneration and minimizing the amount of effluents and solid waste that are generated. Geomega is in discussions with potential partners to use this expertise in metallurgical treatment of REE to help develop a western supply chain.”.

The technology has been developed by Geomega’s Chief Technology Officer, Dr. Pouya Hajiani, for the Montviel deposit and was tested in lab and bench scale. The patents cover an innovative approach by which Geomega was able to significantly reduce the reagents usage while producing high recoveries of both rare earths (REE) and niobium. By using hydrochloric acid (HCl) regeneration, Geomega demonstrated that a total of 58 kg of regenerated HCl were to be used per metric ton of ore to extract REE and Niobium. Furthermore, 91%, 92% and 66% overall recovery were achieved for Neodymium, Praseodymium and Niobium respectively (See table below for detailed recoveries). The process was designed to minimize effluent discharge and to integrate in situ acid and base production and regeneration in tandem with water recirculation in a plant powered exclusively by hydroelectricity in Quebec.

“With rare earths supply chains under the microscope again, efforts are underway by the US and Canadian Governments to bring critical materials production back to North America, which would favor Geomega. We believe that the Montviel rare earth property could become a long-term sustainable solution for rare earths supply and is therefore evaluating opportunities with several groups to advance the project.” added Mugerman. “Coupled together with our ISR technology, Geomega could ultimately deliver a complete solution of primary mining, recycling and separation all under one roof.”

Rare earth elements and niobium recoveries

About Geomega (www.geomega.ca)
Based in Boucherville and St-Bruno, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE – specifically Nd, Pr, Tb, Dy).

The Corporation is advancing towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.

Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.

For further information, please contact:

Kiril Mugerman
President and CEO
Geomega
450-641-5119 ext.5653
kmugerman@geomega.ca

Nancy Thompson
Vorticom Public Relations
212.532.2208
nancyt@vorticom.com

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This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2019, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.