ARA.TO · 2022-07-25 12:00:00

Aclara Provides Brownfield Exploration Results

Exploration Programs

ACLARA PROVIDES BROWNFIELD EXPLORATION RESULTS

TORONTO, ON, July 25, 2022 – Aclara Resources Inc. (“Aclara” or the “Company”) (TSX: ARA) is

pleased to announce drilling results completed over Alexandra Poniente, a new exploration area

within the Penco Module Project (the “Project”), located 15 km from Concepcion, Chile.

A total of 3,011.5 m from 100 drill holes were completed over Alexandra Poniente during 2021 and

early 2022, for a total drill hole inventory of 18,566 m with 665 drill holes over the Project area. The

purpose of this drilling campaign was to increase the Mineral Resource base at the Project. The

results of this drilling campaign will be included in an updated Mineral Resour ce statement to be

issued in Q4 2022.

Alexandra Poniente is located in the western part of Alexandra Oriente as an extension of the

mineralization given by the presence of garnet granitoid and the development of soil horizons. Figure

1 shows the spatial relationship between Alexandra Poniente , Alexandra Oriente , and the other

mineralized zones located within the Penco Project area.

The drill hole program was successful in:

• confirming the hypothesis that Alexandra Poniente is an extension of the Alexandra Oriente

mineralization;

• extending known mineralization at similar grades and widths to the north and west of

Alexandra Poniente;

• extending the depth of known mineralization in the center of Alexandra Poniente; and

• confirming the continuity and thickness of the Alexandra Poniente deposit.

A collar location map highlighting new drilling is also shown in Figure 1 and the new drill hole

intersections drilled between May 2021 and March 2022 are shown in Table 1. The new drill holes,

averaging 30 m in depth, are similar in style and grade to other deposits at the Project. Where drill

holes intersected mineralization with TREY grades above 1800 ppm , the width and average

composite grades (ppm) of these intersections are also shown in Table 1. Previous drill hole

information for the other known mineralized areas forming part of the Penco Project (Maite, Victoria

Norte, Victoria Sur, Alexandra Oriente, and Luna) has been summarized in the Preliminary Economic

Assessment (PEA) NI 43 101 Technical Report for Penco Module Project (Ausenco, 2021) (the

“Technical Report”) and available under the Company’s profile on SEDAR at www.sedar.com.

Figure 1. Plan view of the Project location, the evaluated and reported Mineral Resource Shells

(gray polygons), and the New Delineated Mineralization “Alexandra Poniente” (red polygon).

Maite, Victoria Norte, Victoria Sur, Alexandra Oriente, and Luna were reported in the Technical

Report. Luna is on private land where the Company has already obtained an agreement for

exploitation. Other holes outside the Project Boundary were completed for exploration

purposes. The May 2020 – February 2021 drillholes were published in the Techn ical Report,

May - June 2021 and November 2021 – March 2022 drillholes are part of the present study.

Juan Pablo Navarro, Head of Exploration Geology at Aclara, commented:

“The drill holes were aimed at infilling the central Alexandra Poniente area and expanding known

mineralization to the east, west and north. We are very pleased with the results, which show good

mineral continuity across the zone as well as open mineralization in all directions.

The two important takeaways from these results are: firstly, that there remains potential Mineral

Resource upside at Alexandra Poniente, where several intersections ha ve grades similar to those

shown in the Technical Report ; and secondly, that the results confirm that Alexandra Poniente

remains open to the west, north and at depth. It was hypothesized that Alexandra Poniente is an

extension of Alexandra Oriente, and these results support that conclusion.

We have decided to stop further drilling in the Penco area until we have greater clarity on the

environmental permits for the Penco Module. Our efforts are now being directed towards greenfield’s

targets to open other locations, thereby diversifying permitting risk. We will update the market on the

results of the greenfield’s drilling campaign at the appropriate time.”

Geological Overview

The Project hosts high quality heavy rare earth mineralization absorbed in ionic clay deposits.

A cross section of Alexandra Poniente is shown in Figure 2A, including the lithology, the relation of

the regolith horizons, and the drillholes exhibiting grades of TREY in ppm. Figure 2B indicates the

geology of Alexandra Poniente, where the garnet granitoid, diorite and metapelite is exhibited.

Figure 2. Alexandra Poniente. (A) A-B cross section representing lithology, the soil horizons,

and some holes displaying TREY grade intersections. Highest TREY grades occur in the B2

horizon, hosted in the garnet granitoid (GG) that extends to the west. The cross section shows

that the mineralization found in Alexandra Poniente is open to the west, and at depth . The

other lithologies in the section are diorite (DRT) and metapelite (MP) . (B) Alexandra Poniente

Lithologic Map. The white polygon represents the New Delineated Mineralization. The country-

rock hosting the mineralization is the garnet granitoid. The other rocks such as metapelite and

diorite are mineralized in the contact with the garnet granitoid. There is evidence indicating

the presence of garnet granito ids occurring outside the New Delineated Mineralization ,

implying more potential for Mineral Resources. Section A-B indicates the location of the cross

section displayed in “A”.

Figure 3A shows the associated geology and soil horizons, which are intercepted to define the three-

dimensional (3-D) geological units, which will be used for further Mineral Resource estimation. These

units are displayed in the cross section presented in Figure 3A and in a map view in Figure 3B.

Figure 3. (A) Cross section C-D showing the extension of the Geological Unit GG-B2 and GG-

B1. (B) Map view showing the geological units used for the 3D geomodelling . Furthermore,

the cross section shows that the mineralization is open to the north, and at depth. These are

defined as the interception of the lithology and the soil horizons used for Mineral Resource

estimation and are displayed in the cross-section C-D.

Sampling and Assay Protocols

The 100 sonic drill holes were sampled in intervals of 0.7 m to 2 m, for a total of.1,663 samples being

sent for TREE analysis. Sampling and analytical protocols are unchanged from the Technical Report,

which were identified to be in line with standard industry practice . The QA/QC program indicate s

excellent levels of precision and accuracy for Dy, Tb, Nd, Pr and Lu . Overall, the database for total

grades similarly shows excellent precision and accuracy.

Qualified Person and technical help

The technical information in this news release, including the information related to geology, drilling,

mineralization, and modeling, has been reviewed and approved by Luis Oviedo , an independent

Consulting Geologist with more than 45 years of experience. Mr. Oviedo is a member of the Colegio

de Geólogos de Chile and the Institute of Mining Engineers of Chile and is an Independent Qualified

Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

The QP confirms that he visited the project area on June 16, 2022, and was supported by the Head

of Exploration Geology at Aclara, Juan Navarro, and colleagues Rene Henriquez and Diego Monares,

who reviewed and analyzed the relevant project information. Antoni Magri provided an analysis of

the QA/QC work over the Alexandra Poniente deposit.

Contact Information

For further information, please visit https://www.aclara-re.com/ or contact:

[email protected]

Forward-Looking Statements

This news 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 mineral continuity, grade and upside at the Alexandra Poniente zone, the

issuance of an updated Mineral Resource statement, and the contemplated development of

greenfield targets and expected reduction in permitting risk. 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, the

factors discussed under “Risk Factors” in the Company’s annual information fo rm dated as of March

30, 2022 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 news release is provided as of the date of this news 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.

Table 1: Summary of Alexandra Poniente Drill Hole Results

Drillhole

Depth

(m)

Drillhole composite

(ppm) ∑ length over

cut-off grade

(m)

Ave. composite grade

over cut-off (ppm)

TREY Dy +

Pr +

Nd TREY Dy +

Pr +

SDAXD21030 21,7 1764,0 50,8 372,5 10 2492,8 51,7 578,0

SDAXD21031 30 901,5 32,2 182,0 3 1853,7 72,0 332,2

SDAXD21032 32,7 1249,0 43,6 255,1 7,6 2087,1 101,2 336,4

SDAXD21033 32,7 2023,1 95,9 339,0 12 3353,9 199,7 488,5

SDAXD21034 23,7 1020,8 31,4 224,6 4 1917,9 71,3 405,9

SDAXD21035 9,7 1803,5 60,8 376,9 7,2 1884,8 68,0 404,2

SDAXD21036 17,7 980,1 23,1 219,5 1,7 2066,7 43,0 501,5

SDAXD21037 30 901,0 23,2 204,0 0 - - -

SDAXD21038 16,7 366,9 11,2 72,5 0 - - -

SDAXD21039 16,7 503,8 11,6 115,6 0 - - -

SDAXD21040 30 964,0 15,6 208,3 5,5 2447,8 31,2 579,0

SDAXD21041 30 2022,2 61,1 423,3 19 2443,0 77,2 512,6

SDAXD21042 29,7 1861,6 39,4 408,5 23,5 2065,9 45,2 455,2

SDAXD21043 29,7 641,1 15,1 144,2 0 - - -

SDAXD21044 29,7 1058,7 21,9 235,5 3,9 2337,4 39,4 521,0

SDAXD21045 25,7 351,0 12,0 67,5 0 - - -

SDAXD21046 17,7 971,5 32,9 199,9 1 2278,2 46,3 541,5

SDAXD21047 20,7 1218,3 29,2 293,9 5 2453,9 31,8 604,6

SDAXD21048 23,7 921,6 23,8 204,1 6,7 2062,9 46,0 471,1

SDAXD21049 44,7 1829,0 57,3 360,5 24,3 2517,4 83,8 482,5

SDAXD21051 14,7 1324,6 27,5 296,6 0 - - -

SDAXD21052 25,7 1356,6 29,4 294,7 6 2636,5 48,0 597,6

SDAXD21053 29,7 2746,8 84,6 525,2 24,2 2604,0 84,4 519,8

SDAXD21056 37,7 2055,1 49,0 444,9 26,2 2338,6 58,7 513,3

SDAXD21057 49,3 1215,3 35,0 245,5 16,1 2092,9 58,8 429,5

SDAXD21063 26,7 388,1 10,5 86,1 0 - - -

SDAXD21064 29,7 846,9 16,9 171,7 0 - - -

SDAXD21065* 29,7 703,7 23,6 137,3 1 2195,4 82,0 410,1

SDAXD21066* 40 1516,0 48,1 309,7 16,4 2034,1 62,4 417,9

SDAXD21067* 50,2 1530,2 43,7 317,9 18 2467,4 68,9 505,7

SDAXD21068 26,7 686,0 14,3 158,8 0 - - -

SDAXD21069* 18,2 1044,4 19,6 236,2 4 1876,0 35,9 416,8

SDAXD21070 29,7 1397,7 30,2 258,8 6 2034,9 55,5 419,9

SDAXD21071 29,7 1358,5 58,1 236,6 4 1990,0 78,6 336,7

SDAXD21072 30,2 952,8 24,0 212,0 2,5 2285,6 73,3 457,5

SDAXD21073* 50,7 2007,7 65,6 401,4 38 2486,0 82,5 496,4

SDAXD21074* 30 1983,7 67,0 400,1 20,3 1944,5 80,7 433,8

SDAXD21075 23 1813,9 45,0 392,1 12,85 1789,2 52,3 430,1

Drillhole

Depth

(m)

Drillhole composite

(ppm) ∑ length over

cut-off grade

(m)

Ave. composite grade

over cut-off (ppm)

TREY Dy +

Pr +

Nd TREY Dy +

Pr +

SDAXD21075B 36,2 2136,2 50,3 450,5 26,8 2151,5 53,0 471,7

SDAXD21077 29,7 2043,8 74,2 414,4 19,9 2459,3 95,7 487,0

SDAXD21078 35,7 1439,3 38,2 305,2 13,7 2261,8 60,6 473,9

SDAXD21079 35 1525,4 45,6 317,3 16,9 2262,8 74,0 452,1

SDAXD21080 14,2 1018,0 36,1 206,5 0 - - -

SDAXD21081 12,75 1051,8 24,5 225,1 1,6 2136,9 55,0 474,4

SDAXD21081B 38,7 828,8 20,8 185,1 1,2 2622,8 78,5 621,5

SDAXD21082 30,7 731,5 22,5 155,4 1,3 2112,1 129,0 369,7

SDAXD21084 20,2 657,3 24,3 132,0 0 - - -

SDAXD21084B 28,2 760,6 23,9 172,1 0 - - -

SDAXD21085 39,7 578,2 15,9 129,8 0 - - -

SDAXD21085B 38,7 596,6 16,8 131,8 0 - - -

SDAXD21086 20,7 875,0 29,9 176,2 0 - - -

SDAXD21086B 22,7 813,1 25,9 161,7 0 - - -

SDAXD21087 30,2 652,5 20,3 142,3 0 - - -

SDAXD21088 40,2 623,9 22,0 125,2 0 - - -

SDAXD21089 45,7 1041,9 31,5 221,0 4 1999,1 85,4 385,8

SDAXD21090* 19,7 2534,7 77,7 694,7 9,5 3049,3 90,9 930,6

SDAXD21090B* 16,7 1778,4 49,2 373,4 7,6 1891,6 60,5 402,9

SDAXD21091 35 1104,2 55,7 188,5 3,7 2140,5 177,4 234,1

SDAXD21092 40,2 831,1 36,0 142,3 0 - - -

SDAXD21093* 35,2 2478,9 71,6 531,0 25,7 3064,7 84,7 673,3

SDAXD21094 43,7 1617,3 52,9 328,4 17,3 2180,4 85,0 436,5

SDAXD21095 41,45 1035,4 24,6 220,1 6,05 2366,0 47,2 532,5

SDAXD21096 25,7 869,1 20,6 189,5 0 - - -

SDAXD21097 40,7 1055,4 41,8 198,4 9,7 2081,4 79,0 387,7

SDAXD21098 50 1999,0 51,6 419,5 32,3 2381,7 60,5 501,7

SDAXD21099 10 1340,5 21,7 242,8 2,7 2016,9 30,5 358,3

SDAXD22100 17 722,4 23,6 145,9 0 - - -

SDAXD22101 32,2 397,2 13,2 83,1 0 - - -

SDAXD22102 34,7 471,4 16,4 98,0 0 - - -

SDAXD22103 17,7 473,2 18,6 106,4 0 - - -

SDAXD22104 29,7 671,1 14,2 144,0 1 1804,3 25,4 294,1

SDAXD22107* 50,7 1032,6 28,7 211,8 16 2107,1 61,1 424,9

SDAXD22108* 50,2 1538,8 36,6 331,9 19,7 2158,4 65,4 482,8

SDAXD22108B* 32,7 1326,4 18,9 309,3 10,5 1922,0 27,6 448,9

SDAXD22109* 50,7 1698,5 56,4 336,7 28,3 2254,9 79,6 466,8

SDAXD22110 51,7 1223,6 34,9 251,5 10 2084,3 55,4 424,2

SDAXD22111 41,7 1507,0 39,0 324,6 13,4 2307,9 64,2 514,6

SDAXD22112 10,4 672,9 19,2 147,1 0 - - -

SDAXD22112B 9,9 632,8 16,3 140,3 0 - - -

Drillhole

Depth

(m)

Drillhole composite

(ppm) ∑ length over

cut-off grade

(m)

Ave. composite grade

over cut-off (ppm)

TREY Dy +

Pr +

Nd TREY Dy +

Pr +

SDAXD22112C 13,9 636,7 19,0 143,7 0 - - -

SDAXD22113 26,7 811,7 25,3 168,8 0 - - -

SDAXD22113B 23,7 1158,0 30,1 238,9 0 - - -

SDAXD22114 31,2 823,7 19,9 183,6 0 - - -

SDAXD22115 29,7 521,9 14,0 120,0 0 - - -

SDAXD22116 29,7 442,6 12,7 100,7 0 - - -

SDAXD22117 29,9 639,9 23,2 127,8 0 - - -

SDAXD22118 38,2 1178,0 44,5 242,0 9 2076,3 120,4 362,7

SDAXD22120 35,9 1179,9 53,8 221,2 5,5 2388,8 163,6 376,6

SDAXD22122 15,7 429,2 13,7 95,8 0 - - -

SDAXD22123* 36,2 1950,2 85,8 371,0 16,2 2496,8 115,8 460,2

SDAXD22124* 35,7 1392,5 47,7 273,4 15 2413,7 89,5 481,7

SDAXD22125 29,7 1870,9 52,6 377,1 12,7 2220,6 82,5 443,2

SDAXD22126 34,7 2102,0 67,5 422,8 29,2 2086,0 71,5 440,0

SDAXD22127 32,7 757,4 20,5 159,8 1,5 2392,2 57,5 450,6

SDAXD22128 23,4 641,4 17,6 146,2 0 - - -

SDAXD22128B 35,7 655,5 19,9 145,3 1,5 1904,6 113,0 278,9

SDAXD22129 38,2 572,7 16,8 124,4 1 1947,3 33,2 430,9

SDAXD22130 23,1 1102,0 41,0 271,6 3 2397,8 49,6 644,8

SDAXD22130B 22,7 1592,7 47,9 364,2 8,7 2483,7 67,3 588,4

SDAXD22131 29,2 510,2 13,6 115,3 0 - - -

Notes:

1. TREY = Total rare earth plus yttrium

2. Dy + Tb = Dysprosium plus terbium

3. Pr + Nd = Praseodymium plus neodymium

4. * = Mineralization open at depth

5. The boreholes in bold letters are shown in cross sections

6. All holes are vertical and interval thickness approximates true thickness.

7. All intersections within the Penco Property boundary

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