Aclara Announces R&D Tax Rebate from the Government of Chile

TORONTO, ON / ACCESSWIRE / November 15, 2023 / Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that REE UNO SpA, its wholly owned subsidiary that holds 100% stake in the Penco Module (the "Project"), has received a tax rebate of approximately US$ 2.1 million from the Corporación de Fomento de la Producción ("CORFO") for Research and Development ("R&D") expenses related to the installation and operations of the Pilot Plant. CORFO, which is the Chilean government institution in charge of promoting the production of goods and services and economic regional growth, has validated the pilot plant R&D expenses and determined this project to be key to the future production of the rare earths necessary for the manufacturing of permanent magnets used in wind turbines, electric vehicles, and other technologies vital to the energy transition.

Francois Motte (Aclara's Chief Financial Officer) commented:

"We are pleased to receive our second tax rebate based on R&D expenditures, which affirms our commitment to innovation and compliance with stringent environmental standards in our future operations. Our commitment to R&D continues to drive us forward, with a clear focus on enhancing production efficiency, reducing costs, optimizing capital expenditures (CAPEX), all while upholding our exemplary environmental compliance. We want to express especial thanks to CORFO for recognizing the importance of this activity both for Chile and for our fight against climate change"

R&D Scope for the Tax Rebate

The successful completion of the laboratory testing phase (announced on November 09, 2022) gave birth to "Circular Mineral Harvesting", a unique and internationally patented process that not only results in attractive recoveries of Rare Earths but also minimizes the associated environmental footprint. Circular Mineral Harvesting, through recycling, allows 95% of the water utilized by the process plant to be retained within the circuit, and 99% of the main reagent (ammonium sulphate) to be recirculated, with no liquid residues being produced, thus negating the need for a tailings storage facility. In addition, the mining activities do not require the use of explosives or the crushing and milling of the ionic clay feedstock, resulting in an operation with a very low carbon footprint.