Medallion Completes Key Rare Earths Production Test
Medallion Completes Key Rare Earths Production Test
VANCOUVER, British Columbia, Nov. 20, 2018 -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN
– “Medallion” or the “Company”), announced that its commercial partner Rare Earth Salts Separations & Refining LLC (“RES”)
has completed separation tests of Medallion’s rare earth concentrate into commercial-ready rare earth oxides.
“We have successfully separated Medallion’s feedstock sample into marketable rare earth oxides,” commented Cameron
Davies, RES Chief Executive Officer. “Having worked with more than 40 test chemical concentrates from around the globe, we
can report that Medallion’s material ranks among the best. It provides superior physical properties that allow for straightforward
processing in our system. Since this concentrate is from a monazite-derived source, the distribution of rare earths favors
neodymium and other magnet metals with strong customer interest.”
China dominates the rare earth industry and currently controls more than 80% of global rare earth production, including the all-
important magnet metals neodymium and praseodymium (NdPr). Recently, as major automakers such as Volkswagen, Ford
and BMW have announced new electric and hybrid models, they and their component suppliers are coming under pressure to
secure significant long-term supplies of magnet material.
“This is an important step towards production as it demonstrates the process route from mineral to chemical concentrate to
marketable oxide products,” stated Don Lay, Medallion President and CEO. “With these tests complete, Medallion is well
positioned with RES to build-out a North American rare earth supply chain to provide non-Chinese supplies to the
marketplace.”
Rare Earth Salts operates a new rare earth separation facility in Beatrice, Nebraska, that demonstrates significant cost
advantages versus the standard solvent extraction process. Earlier this year, as part of its hydrometallurgical process
development work, Medallion extracted a mixed rare earth concentrate from North American-sourced monazite sand and
provided a concentrate sample to RES for separation tests. The mineral monazite contains significant quantities of NdPr, the
core input material for lightweight, powerful rare earth permanent magnets which are used extensively in the growing markets
of electric and hybrid vehicles, wind generators and robotics.
About Medallion Resources
Medallion Resources is pursuing near-term magnet metal production, firstly in North America, by exploiting by-product
monazite. Monazite is a rare earth element (REE) mineral containing significant amounts of the key magnet metals
neodymium and praseodymium (NdPr). NdPr is the key input material for the high-powered permanent rare earth magnets
required for growing demands of vehicle electrification, wind power generation and robotics. Monazite is widely available as a
by-product from heavy mineral sand mining operations and has a history as a commercial REE resource and well-understood
metallurgy. 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: medallionresources.com.
Contact: Donald Lay, President & CEO at +1.604.681.9558 or [email protected] .
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. Medallion management takes full responsibility
for content and has prepared this news release. Some of the statements contained in this release are forward-looking
statements, such as statements regarding the efficiency of RES and the Company’s REE extraction methods, the continued
partnership of Medallion and RES and the establishment of a North American production chain for the extraction of REEs.
Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and
uncertainties, including the risks related to market conditions and regulatory approval 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. 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 publicly any forward looking statements,
whether as a result of new information, future events or results or otherwise.