Land Position Expanded With Accelerations Of Drilling & Development At NeoRe Rare Earth Project

BERWYN, PA – Chilean Cobalt and NeoRe SpA reported on progress at the NeoRe Rare Earth Project in southern Chile, highlighting expanded exploration activity, district-scale land consolidation, and the launch of an accelerated development program designed to advance resource validation and technical definition. This follows commencement of the earn-in work program previously announced on February 11, 2026.
During January and February 2026, NeoRe SpA, the Chilean project owner and operator, initiated full on-site exploration activities and mobilized its core geology and exploration team, transitioning the Project into the execution phase. Drilling conducted year-to-date has reached approximately 192 meters, with preliminary intercepts returning rare earth concentrations of up to 1,060 ppm Total Rare Earth Elements (“TREE”), with several surface samples exceeding 800 ppm.
In parallel, NeoRe has expanded the project’s land position through the filing of seven new concessions, adding approximately 2,100 hectares to the Project area. Exploration activities have also identified more than 20 additional prospective targets within the broader mineral district. Under NeoRe’s conditional filing strategy, surface samples reporting attractive grades of Total Rare Earth Oxides (“TREO”) may support further concession filings, with the potential to expand the exploration footprint during the balance of 2026. These activities reflect NeoRe’s broader strategy of advancing the Project on a district-scale basis, while systematically evaluating multiple prospective zones across the region.
“Our objective at NeoRe is not only to advance individual exploration targets, but to define and develop a new rare earth district in southern Chile,” said Arturo Albornoz, Chief Executive Officer of NeoRe, “Through systematic exploration, strategic land consolidation, and collaboration with leading technical and academic partners, we are working to unlock the region’s potential and position Chile as a meaningful future contributor to the global supply of critical minerals.”