Perpetual Resources acquisition of Raptor Rare Earth Project

Perpetual Resources Limited (ASX: $PEC) has entered into a binding Term Sheet to acquire a low-cost option over the 'Raptor' project, including rare earth elements, niobium, and scandium mineral rights within the Caldeira Rare Earth complex in Minas Gerais, Brazil. The option agreement comprises 4 licenses covering a strategic area of 380 hectares proximal to Meteoric Resources (ASX: $MEI) Tier 1 Caldeira ionic clay REE project, with plans to commence due diligence and exploration activities.

Executive Chairman's perspective on the acquisition

This agreement represents a highly strategic move for Perpetual, securing for us, at an extremely low cost, the mineral rights to such a prospective tenement package in an area which is highly sought after for rare earth exploration. The success of the nearby Meteoric Resources ionic clay REE project demonstrates the geological prospectivity of the mineral rights and we look forward to commencing due diligence immediately. This agreement also represents a further extension of our now considerable exploration activities in the prolific Minas Gerais region of Brazil, which hosts an increasing number of Tier 1 orebodies spanning rare earth and lithium in a highly supportive regulatory environment for mining exploration companies.

Summary of Perpetual Resources' acquisition and outlook

Perpetual Resources (ASX: $PEC) has strategically acquired a low-cost option over the 'Raptor' project, securing rare earth elements, niobium, and scandium mineral rights within the Caldeira Rare Earth complex in Minas Gerais, Brazil. The company plans to commence due diligence, sampling, and drilling activities, aiming to validate the presence of valuable mineral occurrences on the Exploration Tenements. This move aligns with Perpetual's ambitions to expand its critical minerals portfolio in Brazil and demonstrates its commitment to aggressive exploration campaigns in highly prospective geological settings. The acquisition further strengthens Perpetual's position in the rare earth and lithium exploration sector, positioning the company for potential growth and development in the global new energy requirements market.