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PEAK PROJECT

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ACRES

3
MINING
LEASES

THE PEAK PROJECT:

SIERRA BLANCA SITE OVERVIEW

Key Highlights

  • Agreement with the Sierra Blanca Quarry (SBQ): Ownership of 1.5mm tonnes of already mined tailings/feedstock on the Sierra Blanca property, in addition to an acquisition Option of the entire broader all-encompassing SBQ mining lease (including quarry operations)
  • Sierra Blanca Quarry is currently operational and produces ballast (fill) material for the Union Pacific railway
  • The current Peak project plan aims to advance sampling and testing program to evaluate overall Rare Earth Elements opportunity potential
  • Initial results pave the way for exploration work towards a maiden mineral resource qualification
  • The ‘Peak’ and nearby ‘Round Top’ projects are in the same geological complex

LOCATION

One of only a few rare earth hard rock Direct-Leach-Extractable projects in the world

  • Located within the active Sierra Blanca Quarry (SBQ)
  • Just 68 miles southeast of El Paso, Texas and two miles southeast of the Round Top Rare Earth Elements project, operated by USA Rare Earth
  • Agreement in place with SBQ
    • Ownership of 1.5mm tonnes of already mined tailings/feedstock
    • Exclusive option to purchase all interests in the mining lease for the Peak Project
  • The Peak Project is located on the northwest side of the Sierra Blanca laccolith which is composed primarily of Tertiary rhyolite porphyry; the Rare Earth Elements minerals occur within biotite in the rhyolite units

(1) Source: Cyprus Sierra Blanca, Inc. (1988).

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The Sierra Blanca range is a series of five volcanic peaks, or domes, of peraluminous rhyolite and rhyolite porphyry laccoliths emplaced in the western calc-alkalic side of the Trans-Pecos Magmatic Province (1)

QUALITY ASSURANCE / HISTORIC INFORMATION

Anna Hicken is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included on this website. Readers are cautioned that a qualified person has not verified the data disclosed, through sampling, analytical, nor test data. Information pertaining to the Lac Ducharme Project was obtained from assessment reports submitted to the Quebec government. A qualified person has not completed sufficient work to verify the historic information on the Project, particularly in regards to the historical sampling results. However, Ms. Hicken believes that the analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Project but may not be representative of expected results.

QUARRY OVERVIEW

Significant Existing Infrastructure Supports Near-Term Production Potential

SBQ Flow Sheet

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SBQ Active Operations

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Note: For illustrative purposes only; actual boundaries may vary.

PROCESSING CHALLENGES

  • REE mineralogy is unique, multi-varied, and highly intricate.
  • Exceedingly complex and sophisticated processing techniques are needed to extract, separate, and purify REEs.
  • Traditional unit operations include caustic cracking, acid baking, agitated leaching, solvent extraction, pyrometallurgy and intensive heat treatment.
  • Processing operations represent the most environmentally impactful, technically challenging, and highest risk components of most REE projects.

Source: A Review of Hydrometallurgical Flowsheets for REE Projects, BC Geologic Survey Paper, 2015

The development of novel REE processing techniques are critical catalysts needed to optimize project value for all stakeholders.

PEAK PROJECT – PROCESSING POTENTIAL

Direct-Leach-Extraction Amenability Simplifies Overall Processing

Initial Extraction Results

  • Three composite samples, 30- & 60-micron grind size targets
  • Assessment of direct leach amenability and maximum extraction potential
  • Initial Total Rare Earth Element (TREE) plus Yttrium (Y) extraction levels ranging from 88% – 93%
  • Only one of a few extremely rare hard rock direct-to-leach projects in the world
  • Test work verified by Qualified Person (QP)

Process Comparison

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Note: For illustrative purposes only; actual boundaries may vary.

The Qualified Person as defined by NI 43-101 is Norman Chow, P. Eng., a consultant for Tactical Resources who has reviewed and approved, the technical metallurgical information in this presentation.

The Qualified Person as defined by NI 43-101 is Roy Eccles, P. Geo, a consultant for Tactical Resources who has reviewed and approved, the technical geological information in this presentation.

Steve Vanry

Advisor

Mr. Vanry is a Chartered Financial Analyst (CFA) and Chartered Investment Manager (CIM) and is a member of the CFA Institute as well as the Vancouver Society of Financial Analysts. He brings over 25-years of professional experience in senior management positions with public and private companies, providing expertise in capital markets, strategic planning, corporate finance, mergers and acquisitions, regulatory compliance, accounting, and financial reporting. He is well regarded for his leadership, creativity, and ability to foster collaborative environments for team driven projects. His breadth of experience spans various industries, including mining, oil and gas, renewable energy, high-technology, and manufacturing.

Mark Mukhija, P.Eng

Director

Mr. Mukhija brings over 15 years of experience in the mining industry including roles with global mining companies such as Teck Resources (2006), Barrick (2007), BHP (2008-2013), and TransAlta (2014-2015). From June 2023, Mr. Mukhija has served as the Global Head of Business Development for Plotlogic, a mining technology company which utilizes artificial intelligence technology aimed at sustainably increasing mineral production and reducing waste. Mr. Mukhija was the General Manager Australia (January 2020 to May 2023) and Regional Manager (September 2018 to January 2020) for Motion Metrics Pty Australia Ltd. , an industrial artificial intelligence and machine learning company catering to the mining industry with a specific focus on safety and productivity. Mr. Mukhija was responsible for the P&L, business development, project management, and logistics of the Motion Metrics (Australia) operations. With BHP, Mr. Mukhija was responsible for life of mine planning and asset value optimization. At TransAlta, Mr. Mukhija began as the Engineering Team Leader at the Sunhills Mine with 14 direct reports and then moved into a capital planning supervisory role where he was responsible for a $60 million annual sustaining capital budget for the operation. Mr. Mukhija is a Professional Engineer and graduate from the University of British Columbia with a Bachelor of Applied Science in Mining Engineering (2003) and has passed Level I of the CFA Program.