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Verde AgriTech's Magnes Rare Earths Reports Additional Assays from Minas Americas Project in Brazil

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Verde AgriTech's (NPK.TO) subsidiary Magnes Rare Earths provided additional head-grade rare earth assay results from the Minas Americas global alliance project in Brazil, the company said Tuesday.

Highlights the company cited include 10 meters from surface averaging 9,736 parts per million (ppm) total rare earth oxide (TREO) and 2,407 ppm magnet rare earth oxide, with MREO representing 24.7% of TREO. Results also include a peak one-meter original sample within an interval of 11,016 ppm TREO from 5 m to 6 m.

"The important point in this batch is not one isolated sample," Magnes Founder and Chief Executive Officer, Cristiano Veloso, said in a statement. "It is the repetition of shallow rare earth mineralization across a much larger drill dataset, with the strongest intervals continuing to carry the magnet rare earth oxides that matter most for permanent magnets: neodymium and praseodymium, with dysprosium and terbium support."

Assay results have now been reported from 297 drill holes at Minas Americas, Verde said.

Verde was down 3% yesterday in Canada.

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