Geomega Resources Inc. - Demonstration Plant Engineering Update - Seite 2

Rare Earth Magnets
According to industry estimates, permanent magnets are a $21 billion-a-year (US dollars) global market split between high performance magnets (70%) and lower performance ferrite magnets (30%) used in applications such as chargers for electrical devices and other applications where weight and performance are less important and operating conditions are less extreme.

At $13.8 billion, rare earth magnets dominate the high-performance magnet market, replacing aluminum-nickel-cobalt and samarium-cobalt technologies. Industry sources project the global rare earth magnet market will expand by nearly 100% to $27.0 billion in 2027.

In 2019, the U.S. purchased approximately 12,000 metric tonnes of rare earth magnets at an average price of approximately $71,000 per tonne, according to industry estimates, representing 6% of the global rare earth magnet market. Note that this does not include magnets in finished and semi-finished products that are imported – since the U.S. was approximately 23.6% of global GDP in 2019, total imports of magnets could be at least four times the magnet-only numbers.

If the U.S. merely maintains its current 6% share of the global market, annual purchases of rare earth magnets could increase by more than 7,000 tonnes by 2027, or an annual increase of more than 900 tonnes per year.

About Geomega (www.geomega.ca)
Based in Boucherville and St-Bruno, Quebec, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE), specifically Nd, Pr, Tb and Dy.

The Corporation is advancing towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.

Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.

For further information, please contact:

Kiril Mugerman
President and CEO
Geomega
450-641-5119 ext.5653
[e-mail]

Nancy Thompson
Vorticom Public Relations
212.532.2208
[e-mail]

Cautions Regarding Forward-Looking Statements
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