Aclara Advances Eia Evaluation Process FOR the Penco Module
ACLARA ADVANCES EIA EVALUATION PROCESS FOR THE PENCO MODULE
TORONTO, ON, March 31, 2024 – 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 Authori ty (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 Bio bío
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 devel oping 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 a s 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