Aclara Withdraws Environmental Impact Assessment Application to Allow Time to Address Unresolved Matters
ACLARA WITHDRAWS ENVIRONMENTAL IMPACT ASSESSMENT APPLICATION
TO ALLOW TIME TO ADDRESS UNRESOLVED MATTERS
TORONTO, ON, March 24, 2022 – Aclara Resources Inc. (“ Aclara” or the “ Company”) (TSX: ARA)
announced that the Company has withdrawn its application for an environmental impact assessment (“EIA”)
of the Penco Module (the “Project”) located in Chile so that it can fully address the issues raised during the
late stages of the application process.
As part of the EIA approval process, Aclara ha d filed three submissions to the Environmental Assessment
Authority (“SEA”), the last of which was submitted on January 31, 2022, and has had a number of productive
discussions with the relevant authorities. Over the course of the process, the Company has addressed many
key aspects relating to the Project. However, the Company was unable to satisfy the SEA in relation to two
technical aspects in particular, which relate to the protection of local flora and fauna, within the mandated
regulatory timetable relating to the EIA process.
In light of follow-up discussions between representatives of Aclara and the SEA to better understand the
outstanding issues and consultations with technical and other advisors , the Company determined that it is
in its best interests and those of the Project to take the additional time required to fully understand and
resolve the remaining issues and resubmit a revised EIA application. The Company will continue to work
together with the relevant authorities to address the issues raised.
Ramon Barua, Aclara’s CEO, commented: “We believe that the withdrawal of the EIA application at this time
is in the best interests of moving the Project forward. The Company is well-funded and can continue with the
permitting process while it advances its exploration program and the feasibility study. At Aclara, we are
committed to ensuring that we can produce rare earths with t he minimum environmental footprint and, as
we move forward, we will seek to reassure relevant authorities in Chile of our approach.”
The Company, its technical consultants and other advisors are undertaking a full review of the particular
issues raised during the EIA process with a view to addressing the m in a comprehensive manner. The
Company will provide additional clarity on the timing of the revised application following additional
consultations with relevant authorities and its advisors.
About Aclara
Aclara is a development-stage rare earth mineral resources company located in Chile. Aclara is initiating the
development of its resources through a project called the Penco Module (the “Penco Module”), which covers
a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements.
Aclara is currently focused on the development and on the future construction and operation of the Penco
Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays
from nearby deposits. Aclara’s unique extraction process offers several advantages such as: no blasting,
crushing or milling required ; no tailings dam ; minimal water con sumption due to a high level of water
recirculation; amenable leaching with a fertilizer; and no radioactivity.
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 the permitting process, the revised EIA application, on-going and future discussions and consultations
with relevant authorities and advisors, advancing the exploration and development of the Penco Module, the
exploration of potential new modules, the completion of a feasibility study on the Penco Module, plans and strategies,
and general financial position matters and funding related to the Company. 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; 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 licences or renew them; compliance
with environmental regulations can be costly; actual production, capital and operating costs may be different
than those anticipated; the Company may be not able to successfully complete the construction and start -up
of mines and new development projects; risks related to mini ng operations; and dependence on the Penco
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 final prospectuses each dated December 2, 2021 filed on the Company’s SEDAR profile. Actual
results 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.
For further information, please contact:
Ramon Barua
Chief Executive Officer