Medallion Resources Forms REE Metallization and Magnet Recycling Partnership

Medallion Resources Forms REE Metallization and Magnet Recycling

Partnership

VANCOUVER, British Columbia, March 28, 2022 -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt:

MRDN) – “Medallion” (or the “Company”) , is pleased to announce signing of an exclusivity agreement (the “Exclusivity

Agreement”) with a private North American research company (the “Research Partner”) to provide a three-month period to

undertake additional due diligence on proprietary rare earth element metallization and rare earth magnet recycling

technologies. If the technical due diligence is successful, Medallion will seek to negotiate investment terms to acquire or

partner on all or part of the underlying technologies.

The Research Partner is the exclusive owner and developer of an innovative rare earth element (“REE”) metallization

technology. Metallization involves the conversion of REE compounds to REE metal, a crucial step in the production of high

strength REE permanent magnets. There are few entities outside China that have this metallization capacity.

The REE metallization technology owned by the Research Partner is derived from a similar process employed for other critical

metals. The novel and innovative technology would enable conversion of REE compounds to metal in a continuous process,

requiring less energy than incumbent processes and without toxic fluorine chemistry.

The metallization technology is equally applicable to primary and recycled REE feedstock. It presents the opportunity for

substantial value add to Medallion’s existing technology portfolio including the Medallion Monazite Process (developed

internally) and Ligand Assisted Displacement Chromatography (exclusively licensed from Purdue University for all non-coal

sourced raw materials) (Figure 1).

Furthermore, the Research Partner is the exclusive owner of technology and knowhow that combines a novel pyrometallurgical

process with a hydrometallurgical process to efficiently preprocess, extract, recover and separate rare earth elements from

end-of-life recycled REE permanent magnets. The key enabling technologies have been tested at bench scale; Medallion

believes the technologies may have rapid commercialization potential with appropriate commercial support.  

REE permanent magnets, comprised of neodymium, praseodymium, dysprosium and terbium play a fundamental role in the

efficient generation of renewable energy and its use in electric vehicles (EV). They are vital in the automotive, aerospace,

robotics, electronic, and wind energy industries due to the combined high magnetic strength and low weight. REE magnet

materials are currently recycled at a very low rate due to technology barriers in magnet recovery, demagnetization and

processing and the past use in applications such as consumer electronics which involve a large number of items each

containing a small quantity of REEs. In contrast, the EV and wind turbine applications are well suited to end-of-life recycling.

“Medallion has been actively reviewing opportunities within the REE supply chain, with a focus on the industry bottlenecks

where breakthrough technologies are required ” said Mark Saxon, President and CEO. “ In this process, we have identified a

research group with a portfolio of technologies based on low environmental impact design principles. These technologies are

complementary to our existing LAD technology platform providing exposure to REE magnet recycling as well as REE

metallization, and we are excited to be launching an exclusive due diligence process to learn more and plan future investment

and partnership.”

Medallion is actively identifying key emerging technologies that can unlock bottlenecks within the supply of raw materials

critical for the clean energy transition. Under the guidance of Dr. Kurt Forrester and with the support of a network of technical

advisors, Medallion is in a strong position to identify further breakthrough technologies for the rare earth element industry.

About Medallion Resources

Medallion Resources  (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related

business model to achieve 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. Furthermore,

Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by

Medallion and sub-licensed by Medallion to third party REE producers.

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. Medallion utilizes Life Cycle Assessment

methodology to support investment and process decision making.

More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com .

Contact(s):

Mark Saxon, President & CEO

+1.604.681.9558 or [email protected]

Figure 1

Industry Position of Medallion Technology Platforms

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 the content of and has prepared this news release. Some of the

statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with

respect to general strategic matters and the advancement of its business plan, Medallion’s ability to advance and

commercialize its technology platforms and negotiate commercial agreements with third parties.

Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes,"

"intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events,

conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words.   

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. 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, except

as required pursuant to applicable laws.

A photo accompanying this announcement is available at

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