Medallion and Rare Earth Salts Agree to Produce Rare Earth Products Vancouver, BC and Beatrice, Nebraska, USA – Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF
FOR IMMEDIATE RELEASE
June 1, 2017
Medallion and Rare Earth Salts Agree to Produce Rare Earth Products
Vancouver, BC and Beatrice, Nebraska, USA – Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF
– “Medallion”) and Rare Earth Salts Separations and Refining, LLC (“RES”), a leading materials
technology company, today announced they have executed a non-exclusive commercial agreement
to produce, market and share revenues from the sale of finished rare-earth products. The agreement
contemplates Medallion producing and supplying its rare-earth concentrate to Rare Earth Salts for
separation and refining into marketable rare-earth oxides.
Medallion and RES anticipate initial production volumes of 500 tonnes per year of rare-earth oxides
beginning in 2019 and growing over time to 3,000 tonnes per year. Certain commercial terms will be
finalized prior to commercial production.
“We believe strongly that Medallion’s by-product monazite processing approach will allow for much-
needed new production of rare-earth concentrate in North America. Using this concentrate and our
low-cost separation technology, we can compete directly with China,” said Dr. Joseph Brewer, Chief
Executive Officer of RES. “With Medallion as an additional feedstock partner we look to deliver
meaningful quantities of rare-earth products to the market in the near term.”
“Rare Earth Salts has developed novel technology for rare-earth separation to challenge solvent
extraction, which is the current industry standard. By working together, we aim to provide an
alternative source of rare-earth oxide products to the marketplace,” said Don Lay, President and CEO
of Medallion. “As both the technical and capital cost challenges of hard-rock rare-earth projects has
become clear, Medallion’s by-product monazite model is resonating. We consider Rare Earth Salts to
be a terrific partner to complete the value chain to saleable rare-earth products.”
Alastair Neill, RES Director of Business Development, stated: “We believe that a monazite-derived
concentrate can supply the highly valued, magnet-oriented rare earths currently driving market
demand. This demand for high-powered and lightweight rare-earth permanent magnets has risen
dramatically from their use in electric and hybrid vehicles, renewable power generation, robotics,
military and other applications.”
Market research firm Adamas Intelligence estimated the value of global annual rare-earth oxide
demand for the production of rare-earth permanent magnets totaled $1.44 billion in 2016. Adamas
forecasts an increase of demand for the magnet-oriented oxides of neodymium, praseodymium,
terbium, and dysprosium to $6.07 billion by 2025, a compound annual growth rate of 17.4%.
(Source: Adamas Intelligence, Rare Earth Market Outlook: Supply, Demand and Pricing from 2016
through 2025).
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Contact:
Cameron Davies Donald Lay
Chief Operating Officer President & CEO
Rare Earth Salts Medallion Resources
+1.416.420.2861 +1.604.681.9558
[email protected] [email protected]
About Rare Earth Salts
Rare Earth Salts is a leading materials technology company with the goal of achieving near term commercial
production of rare-earth oxides. The Company has developed a patent pending industrial technology proven
to efficiently and economically separate and refine all 16 rare-earth elements to high purity. The process is
environmentally friendly and projects significantly reduced cost versus standard processing. For more
information visit: rareearthsalts.com.
About Medallion Resources
Medallion Resources is developing an approach for low-cost, near-term, rare-earth element (REE) production
by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product
from mineral sand mining operations. REEs are critical inputs to electric and hybrid vehicles, electronics,
imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best
practices and accepted international standards in all aspects of mineral transportation, processing and the
safe management of waste materials. More about Medallion (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRD)
can be found at medallionresources.com.
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Medallion management takes full responsibility for content and has prepared this news release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward -
looking statements, such as estimates and statements that describe Medallion’s planned process testing and intended
feedstock and refining arrangements or other objectives or goals, including words to the effect that Medallion or
management expects a stated condition or result to occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and uncertainties, including the risks inherent in completing
laboratory-scale processing tests and applying the results to full-scale production and other risks outlined in the
Company’s management discussions and analysis of financial results. Actual results in each case could differ materially
from those currently anticipated in these statements. Such risks include expectat ions that may be raised by discussing
potential business, acquisitions or development plans. Also, in order to proceed with Medallion’s plans, additional funding
will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms
that facilitate Medallion’s plans. These forward looking statements are made as of the date of this press release, and,
other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publ icly any
forward looking statements, whether as a result of new information, future events or results or otherwise.