Meryllion Resources hits promising rare earth assays in Tasmania

Toronto, Ontario--(Newsfile Corp. - June 23, 2026) - Meryllion Resources Corporation (CSE: MYR) (" Meryllion " or the " Company ") is pleased to announce promising assay results from its initial shallow scout drilling program (Figure 1) at its northeastern Tasmanian ionic adsorption clay (" IAC ") hosted rare earths (" REE ") project. Russell's Plains (Launceston) scout drilling has delivered encouraging results and confirms that the rare earth system the company is targeting exists within the project area. Russell's Plain drill target sits along strike of the Portrush IAC hosted REE project of the Abx Group (Figure 2).

Drilling highlights include - Drill interval with maximum grade up to 879 ppm TREO . This is around the typical head grade of Australian ionic REE clay deposits Five of the twelve holes contain Rare Earth assays above the cut-off grade (> 350 ppm TREO-CeO 2 ppm) for resources from the nearby Deep Leads ionic clay REE Deposit In majority of cases, the shallow nature of this drilling program (often <5m depth) only pierced the top of the potential mineralised system, with the bottom of hole ending in mineralisation Scandium mineralisation also identified in several drill holes, with grades up to 164 ppm Sc 2 O 3 Scandium is a high value (US$1200-$3800 per Kg for scandium oxide) critical element used in aluminium alloy technologies and solid oxide fuel cells (SOFCs). Figure 1: Trailer-mounted drilling rig in use at Russell's Plains.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5495/302448_f08ab880f492a879_001full.jpg Meryllion CEO, Richard Revelins, commented: "We are highly encouraged that we were able to demonstrate that our geological theories have been supported by the identification of a potentially large, mineralised target. Being the first drilling program to be undertaken and completed on our leases, we were encou