Mont Royal and Alta assess rare earth oxide production at Ashram

Joint Study Agreement to evaluate next-stage processing pathway for Ashram rare earths into North American supply chains for magnets and advanced technologies

HIGHLIGHTS

Mont Royal has signed a Joint Study Agreement with Alta Resource Technologies to evaluate the potential application of Alta's engineered protein-based rare earth separation technology to mixed rare earth carbonate (MREC) feedstock from the Ashram Rare Earth and Fluorspar Project.

The study will assess a pathway to produce separated, high-purity rare earth oxides from Ashram-derived MREC, potentially extending Mont Royal further downstream into the rare earth value chain.

The parties will also assess the potential for a future commercial refining facility and longer-term partnership supporting a North American rare earth supply chain.

Alta's technology uses engineered proteins designed to selectively bind and separate target metal ions, offering a modular separation approach that may support cleaner and potentially lower-capital intensity processing outcomes.

Alta's recent industry partnerships include a joint venture with Korea Zinc's US subsidiary, PedalPoint, for the establishment of an end-of-life permanent magnet rare earth recycling facility in the US.

The Ashram 2026 PEA (Updated Preliminary Economic Analysis Confirms Ashram as a Major Long Life North American Rare Earths Development Project - June 9 th , 2026) outlines a 30-year mine life, average annual production of 17,466 tonnes of saleable REO, a post-tax NPV of C$2.03 billion, post-tax IRR of 22% and 3.9-year payback.

Montréal, Quebec and Boulder, Colorado--(Newsfile Corp. - August 31, 2026) - Mont Royal Resources Ltd (ASX: MRZ) (TSXV: MRZL) ("Mont Royal" or "the Company") and Alta Resource Technologies, Inc. ("Alta") announced today that they have signed a Joint Study Agreement ("JSA") to evaluate a technical pathway for