Capão Bonito Yields Rare Earth Grades Up to 3,267 ppm in PVW’s Latest Drilling

Strong Progress at Capão Bonito

PVW Resources Ltd has advanced its rare earth exploration activities in Brazil with a successful drilling campaign at the Capão Bonito REE Project in the Southeast Hub. The company completed 51 drill holes, totaling 641 meters, focusing on the main east block and recently initiating drilling in the western tenement. Notably, the campaign was executed on schedule, within budget, and without any safety or environmental incidents, underscoring operational discipline.

Preliminary assay results from 29 holes reveal Total Rare Earth Oxide (TREO) grades reaching as high as 3,267 ppm, with numerous intersections exceeding 1,000 ppm TREO. These grades are promising for ion adsorption clay (IAC) style deposits, which offer a lower-cost and environmentally friendlier extraction route compared to traditional hard rock mining. The shallow mineralized intersections, some starting at surface, suggest a near-surface resource with potential for expansion at depth, as indicated by improving grades with depth in several holes.

A targeted subset of 230 samples is undergoing ammonium sulphate leaching tests to determine extractable REE content, a critical step to confirm the economic viability of the IAC mineralization. Results are expected early in the second quarter and will be pivotal in shaping the next phase of exploration and development.

Expanding Exploration Across Brazil’s Hubs

Beyond Capão Bonito, PVW is preparing for a rapid auger campaign at the Mucambo REE Project in the Northeast Hub, scheduled for May. This project benefits from favorable geology and a humid tropical climate conducive to deep weathering and formation of ion adsorption clays. While no fieldwork has yet been conducted, extensive reconnaissance and planning have laid the groundwork for this upcoming campaign.

In the Midwest Hub, comprising six projects including São Vicente, Três Córregos, and Colorado, PVW conducted a second in-country project review. These projects require initial drilling to confirm saprolite profile characteristics and REE anomalism. The granite-dominated bedrock and regional infrastructure proximity to Cuiabá and Goiânia provide strategic advantages for future development.

Gold Exploration and Portfolio Management

While rare earths remain the primary focus, PVW continues to maintain a strong gold exploration portfolio in Australia. The Kalgoorlie Gold Project is under review, with exploration activities being prioritized in line with gold price dynamics. Additionally, the company is actively managing its tenure in the Tanami REE Project, relinquishing less prospective tenements to optimize exploration budgets.

Financial Position and Outlook

PVW Resources ended the quarter with a cash balance of AUD 646,000, having spent AUD 161,000 on exploration activities. Payments to related parties totaled AUD 102,000, covering director fees and administrative services. The company acknowledges the need for additional funding and is engaged in ongoing discussions with corporate advisors to secure further capital to sustain and accelerate its exploration programs.

PVW’s strategic focus on IAC rare earth deposits in Brazil positions it well within the critical minerals sector, addressing global supply chain risks and environmental concerns associated with traditional rare earth mining. The combination of promising drilling results, diversified project hubs, and a disciplined financial approach sets the stage for potential value creation as the company advances its exploration and development agenda.