Rare Earths Americas, Inc. (NYSE American: REA) announced assay results from eight new drill holes at Homer-A, one of three 100%-owned exploration targets—Homer-A, Homer-B and Homer-C—within the broader Homer Project in Goiás, Brazil.

The latest results expand the known mineralized footprint by more than 60%, to approximately 3.5 km² (865 acres) from the 2.15 km² (531 acres) reported in September 2026. The mineralized zone now extends approximately 4.3 km along its longest dimension—roughly double the 2.1 km reported in September—and remains open for further expansion. Of the 20 holes within the primary geochemical anomaly with assays received to date, 19 have intersected mineralization above the reported cut-off, further supporting the scale and continuity of the system.

Holes along the south-eastern margin of the complex returned the highest proportion of heavy rare earth oxides ("HREO"¹) found at Homer-A to date, with dysprosium and terbium oxides ("DyTb") making up as much as 8.7% of total rare earth oxides plus scandium ("TREO + Sc") in individual samples. Multiple holes in this area returned elevated HREO and DyTb proportions, highlighting an emerging zone of heavy rare earth enrichment along the south-eastern margin that remains open to further drilling.

Importantly, assays have been received for only 22 of approximately 180 holes planned for the 2026 program—roughly 12%—while approximately 11,800 meters, or nearly 80% of the planned 15,000-meter program, had already been drilled as of October 30, 2026. A strong pipeline of results remains, with assays pending for more than 100 additional holes. The Company expects to finish the program on schedule and continues to target a maiden mineral resource estimate in 2027.

Highlights:

• Mineralized Zone Grows by More Than 60% and Remains Open: Drilling has now intersected rare earth mineralization across about 3.5 km² (865 acres), up from about 2.15 km² (531 acres) reported in September 2026. The zone now stretches about 4.3 km at its longest, roughly double the 2.1 km reported in September, and about 1.7 km across, representing only about 10% of the >35 km² magnetic anomaly, as reported in July 2026 (see Figure 1). Of the 20 holes drilled in the main target area with assays received to date, 19 intersected mineralization. Drilling has not yet defined the zone's limits, and the Company believes it remains open for further expansion in all directions.
• Only 12% of Planned-Hole Assays Received; Substantial Results Pipeline Remains: Assays have been received for only 22 of approximately 180 holes planned for the 2026 program, or roughly 12%. As of October 30, approximately 11,800 meters had already been drilled—nearly 80% of the planned 15,000-meter program—and assays remain pending for more than 100 additional holes. The substantial difference between drilling completed and assays received provides a significant pipeline of additional geological information as REA continues to evaluate the scale, continuity and rare earth distribution of the Homer-A system.
• Emerging Heavy Rare Earth-Enriched Zone Along South-Eastern Margin: New holes on the south-eastern edge of the complex returned the highest HREO proportions at Homer-A to date. Multiple mineralized intervals contain more than 30% HREO, while HREO comprises more than half of TREO + Sc across the principal intercepts in holes RC-TGA-0019A and RC-TGA-0018. Individual samples contained up to 76.9% HREO. The mineralized zone remains open to the south-east, where the Company is continuing to evaluate the geological controls on this enrichment.
• Strong Dysprosium and Terbium Enrichment Across Multiple Intervals: The latest drilling returned elevated DyTb proportions across multiple mineralized intervals, including 8 meters at 2,173 ppm TREO + Sc containing 6.1% DyTb and 5 meters at 3,370 ppm TREO + Sc containing 5.1% DyTb. Individual 1-meter samples reached up to 562 ppm DyTb, or 8.7% of TREO + Sc, compared with a maximum of 347 ppm, or 5.7%, reported in September 2026. Dysprosium and terbium are used in high-performance magnets and are particularly valuable because they help magnets perform at high temperatures.
• Thick, Higher-Grade Mineralized Zones Close to Surface: All eight new holes intersected rare earth mineralization, with zones starting as shallow as 12 meters below surface. The thickest new zone was 12 meters at 2,405 ppm TREO + Sc, including 6 meters at 3,103 ppm, while another hole returned 9 meters at 2,350 ppm, including 3 meters at 4,110 ppm. Along the south-eastern margin, the highest grades coincide with the strongest HREO enrichment, with intervals of 4,402 ppm TREO + Sc at 71.3% HREO and 5,335 ppm at 69.0% HREO, and individual 1-meter samples reaching up to 6,746 ppm TREO + Sc.
• Niobium and Tantalum Found Alongside Rare Earths: A hole drilled approximately 270 meters south-east of the niobium-tantalum zone identified in September 2026 (see here) intersected niobium-tantalum mineralization again, with up to 1,230 ppm niobium oxide (Nb₂O₅) and 72 ppm tantalum oxide (Ta₂O₅) in individual samples. Their overlap with the rare earths may provide an opportunity to evaluate them as potential by-products in future technical studies.
• What’s Next: With assays pending for more than 100 additional holes, REA has a strong pipeline of results expected as drilling continues to define the scale, continuity and rare earth distribution of the Homer-A system. The Company remains on schedule to complete its 15,000-meter 2026 drilling program by year-end. In addition, initial metallurgical testing is underway and the Company continues to expect to publish a maiden resource estimate in 2027.

Rare Earths Americas’ CEO, Donald Swartz, commented: “What stands out in this second update on drilling is that Homer-A is becoming both larger and increasingly differentiated. The known mineralized footprint has expanded by more than 60%, its longest dimension has roughly doubled, and drilling along the south-eastern margin has encountered the highest heavy rare earth and dysprosium-terbium proportions we have seen to date. Importantly, the heavy rare earth enrichment is occurring across multiple holes and intervals rather than in a single isolated sample, while the mineralized system remains open for further expansion.

We are also still early in understanding the system. Assays have been received for only about 12% of the approximately 180 holes planned for 2026, while nearly 80% of the drilling program had already been completed at the end of October with results pending for more than 100 additional holes. With drilling continuing, initial metallurgy underway and a maiden mineral resource estimate targeted for 2027, we believe the coming results will further advance our understanding of Homer-A’s scale, continuity and rare earth distribution.”

Rare Earths Americas, Inc. ("REA" or the "Company") today announced additional drill results from its 100%-owned Homer-A Project within Brazil's Goiás Alkaline Province. These results follow the initial drill results reported on September 23, 2026 (see here) and include assays for eight additional reverse circulation ("RC") holes, the remaining assays for one previously reported hole, and additional assays for one other hole.

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Figure 1 - Homer-A drill results overlaid on airborne magnetic analytic signal amplitude, updated with holes RC-TGA-0015 to RC-TGA-0022. Holes reported for the first time in this release are highlighted.

Mineralized Zone Grows by More Than 60%; Length Doubles to About 4.3 km: The mineralized zone now covers about 3.5 km² (865 acres), up from about 2.15 km² (531 acres) reported in September 2026. The farthest mineralized holes are about 4.3 km apart along the NW-SE direction, roughly double the 2.1 km reported in September, and about 1.7 km apart along the NE-SW direction (see Figure 1). Of the 20 holes drilled within the primary geochemical anomaly with assays received to date, 19 intersected mineralization above the cut-off, and the Company believes the zone remains open for further expansion.

Assays for a portion of one hole are still pending and will be reported once received (see Notes on Calculation Parameters). Assays have also been received for the deeper portion of a hole first reported in September 2026, when results covered only the top 24 meters. That newly reported portion returned an additional 7 meters at 1,816 ppm TREO + Sc from 27 meters with 33.0% neodymium and praseodymium oxides ("NdPr").

Heavy Rare Earth Enrichment at the South-Eastern Margin: Several holes drilled along the south-eastern margin of the alkaline complex show a marked increase in the HREO share. Multiple mineralized intervals in this sector report HREO above 30% of TREO + Sc, and the highest-grade zones exceed 50%, with DyTb reaching up to 8.7% of TREO + Sc in individual samples. The Company is evaluating the geological controls on this enrichment as drilling continues.

• RC-TGA-0019A & RC-TGA-0018: Highest Heavy Rare Earth Proportions to Date
  
  Intersected near-surface zones in which HREO made up the majority of TREO + Sc, exceeding 50% over the main intercepts, with DyTb proportions that are the highest recorded at Homer-A to date.

Table 1 - Hole RC-TGA-0019A

Table 2 - Hole RC-TGA-0018

• RC-TGA-0021: Thick Heavy Rare Earth-Enriched Zone
  
  Intersected a continuous 12-meter zone of near-surface mineralization combining strong grades with a high HREO share, located between the high-HREO intercepts of RC-TGA-0018 and the central portion of the tested envelope.

Table 3 - Hole RC-TGA-0021

Niobium and Tantalum Potential Extended (Up to 1,230 ppm Nb₂O₅ and 72 ppm Ta₂O₅): Hole RC-TGA-0015 intersected niobium and tantalum 270 meters southeast of RC-TGA-0014, supporting potential continuity. A 5-meter interval averaged 906 ppm Nb₂O₅ and 52 ppm Ta₂O₅ within a broader rare earth intercept of 7 meters at 3,184 ppm TREO + Sc. A single 1-meter sample returned 1,230 ppm Nb₂O₅ and 72 ppm Ta₂O₅, the highest tantalum oxide grade reported at Homer-A to date. Further studies will assess their potential recovery as by-products.

• RC-TGA-0015: Stacked Rare Earths and Niobium-Tantalum Overlap
  
  Drilled approximately 270 meters south-east of RC-TGA-0014, in the west-central part of the drill-tested envelope, this hole demonstrates a multi-layered mineralized profile where high-grade rare earths coincide with niobium and tantalum mineralization.

Table 4 – Hole RC-TGA-0015

Supportive Location and Straightforward Land Access: Homer-A is in Goiás, one of Brazil's established mining and agricultural states. The project area is mostly cleared farmland used for soybean and corn, and only three private landowners control surface access. The terrain is broad and flat to gently rolling, which helps drilling programs move efficiently. To the Company's knowledge, no conservation units or protected environmental areas overlap the project boundary.

Technical Review: Target A Complex and Fertile System

Results generated to date focus on Homer-A, one of three 100%-owned alkaline-carbonatite-type anomalies in Goiás, Brazil (Figure 9). Homer-A lies along the “Azimuth 125” structural corridor, a regional geological trend known for hosting major niobium, phosphate and rare earth deposits. Initial drilling indicates consistent geochemistry and a rare earth-rich (“fertile”) magmatic system, despite the varied magmatic phases typical of these intrusive systems.

Homer-A’s geology points to an enriched source of rare earths, consistent with known alkaline-carbonatite rare earth districts. Over time, intense tropical weathering has broken down the original rocks and concentrated rare earths in the overlying soil and saprolite—soft, deeply weathered rock. Drilling guided by the Company’s geological model continues to intersect mineralization across the areas tested to date.

Results also point to distinct zones enriched in dysprosium and terbium (DyTb), critical elements used in high-performance magnets. DyTb accounts for more than 2% of the combined TREO+Sc content, rising to approximately 4% in higher-grade samples and 5.8% within a heavy rare earth-rich zone along the eastern margin, with individual samples in these latest results reaching up to 8.7%. These results highlight an emerging cluster of strong DyTb enrichment within Homer-A.

The eastern and southeastern margin is now a priority for further exploration. The zone is interpreted to remain open in these directions, where the soil geochemical anomaly extends beyond the reported drill results, pointing to additional expansion potential.

Near the center of the complex, holes RC-TGA-0014 and RC-TGA-0015 also intersected niobium and tantalum alongside rare earths, providing additional critical mineral potential for future evaluation.

With a growing mineralized footprint and an emerging DyTb-rich zone, REA remains on schedule to complete its 15,000-meter drilling program by year-end and continues to target a maiden mineral resource estimate in 2027.

About Rare Earths Americas

Rare Earths Americas, Inc. is an exploration stage company advancing a portfolio of critical minerals projects focused on high-grade rare earth mineral assets in the United States and Brazil. REA’s portfolio includes three material projects, which the Company believes positions REA as a future potential cornerstone of non-Chinese rare earth supply, aligning with Western industrial and national security priorities. Rare earth elements are essential for advanced U.S. industries including robotics, electric vehicles, energy, defense, and consumer electronics.

Forward-Looking Statements & Technical Notes

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this communication, the words "plan," "target," "anticipate," "believe," "could," “designed to,” “discovery,” "estimate," “evaluate,” "expect," “focused on,” "intend," "may," “opportunities,” "potential," “seeks," "should," "will," "would" and similar expressions are intended to identify such forward-looking statements. Any express or implied statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements.

Forward-looking statements in this communication include, but are not limited to: the characterization of Homer-A as a rare earth discovery or the confirmation of a mineralized system; the potential for mineralization at the Homer Project, including the potential scale, continuity, grade, and distribution of rare earth, niobium, tantalum, and scandium mineralization; the possibility that ongoing or future exploration activities, including drilling, sampling, metallurgical testing, geological mapping, and related technical work, may improve the Company's understanding of the project's geology and mineral potential; the Company’s plans to complete the current drill program by year-end and to publish an initial Mineral Resource Estimate for Homer-A in 2027; expectations regarding the potential contribution of niobium, tantalum, and scandium to overall project value; characterizations of the economic significance of the rare earth assemblage, including statements regarding the relative value of the heavy rare earth basket, the potential for polymetallic value, and comparisons to other projects; the possibility that metallurgical testing may confirm whether mineralization is amenable to ionic clay recovery methods or economic extraction; the possibility that future exploration results may support the delineation of a mineral resource; the Company's plans to continue exploration and technical evaluation activities; the potential advancement of the project through future exploration and development stages; and the Company's strategic objectives relating to the exploration and development of critical mineral opportunities.

The Homer Project is currently at an early-stage exploration phase. No mineral resource or mineral reserve has been defined on the property. The Company has not yet determined the nature, continuity, extent, grade, economic significance, or metallurgical characteristics of any mineralization that may be present. While references to “clay-hosted” mineralization reflect the macroscopic description of the weathered profile, the Company has not yet established whether the mineralization is associated with ionic clay, hard-rock, or any other deposit type. Furthermore, as no metallurgical leach testing has been completed, there can be no assurance that the mineralization will be amenable to economic extraction or typical ionic clay recovery methods.

There is no certainty that continued exploration will result in the discovery of economically significant mineralization, the definition of a mineral resource, the confirmation of any exploration model, the completion of the planned drilling program on time or within budget, or the advancement of the project toward development. The characterization of initial results as a “discovery” reflects the Company’s interpretation of early-stage exploration data and does not constitute a determination that the mineralization is economically viable. Exploration results obtained from surface sampling, drilling, geophysical surveys, geological interpretations, or other exploration methods may not be indicative of future results. The extent, continuity, grade distribution, metallurgical characteristics, and economic significance of any mineralization have not yet been established and remain subject to additional drilling, resource estimation, technical studies, and economic evaluation.

These forward-looking statements are based on assumptions and expectations that may not prove to be accurate and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those described in such statements. These risks and uncertainties include, among others: the uncertainty inherent in early-stage mineral exploration; geological, technical, and interpretation risks; uncertainty regarding the presence, continuity, grade, and extent of mineralization; the possibility that exploration programs may not achieve their objectives; the absence of mineral resource estimates; uncertainties relating to whether metallurgical testing will confirm favorable processing characteristics, including whether mineralization is ionic clay-hosted and amenable to leaching; the risk that niobium, tantalum, and scandium mineralization may not prove to be of economic significance; the risk that peer comparisons may not be meaningful due to differences in analytical methods, cut-off grades, and project maturity; fluctuations in commodity prices, including the prices of dysprosium, terbium, neodymium, praseodymium, niobium, tantalum, and scandium; regulatory, environmental, and permitting risks specific to mining operations in Brazil; political, economic, and trade policy risks in Brazil and the United States, including tariff and export-related risks; currency exchange rate fluctuations between the U.S. Dollar and the Brazilian Real; availability of financing on acceptable terms; our need for substantial additional capital; the state of the economy and financial markets generally; market conditions; and general economic, political, and business risks. The foregoing list is not exhaustive.

Investors are cautioned that early-stage exploration projects carry a high degree of uncertainty and that the presence of anomalous geochemical values, favorable geology, or preliminary exploration results does not necessarily indicate the existence of an economically viable mineral deposit.

For additional information regarding factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the risk factors included in the Company’s Rule 424(b)(4) Prospectus filed on May 7, 2026, which are available at www.sec.gov. We caution investors not to place undue reliance on the forward-looking statements contained in this communication. These statements speak only as of the date of this communication, and we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Data Verification and QA/QC

RC drilling operations conducted at the Homer Project were completed under the supervision of the Company's technical team. Drill samples were logged, photographed, and processed in accordance with industry-standard exploration practices. Continuous samples were collected at standard one-meter intervals, an inherent feature of the RC drilling method, and submitted to ALS for preparation and comprehensive geochemical analysis.

Sample preparation was carried out by ALS Laboratory Group in Goiânia, Brazil, under the PREP-31H protocol (crushing, splitting, and pulverizing), with geochemical analyses completed using lithium borate fusion (ICP-AES/MS), four-acid digestion, aqua regia, LECO furnace assays, and specialized techniques for halogens and precious metals.

The Company's quality assurance and quality control ("QA/QC") program includes the insertion of control samples within analytical batches of 50 samples, representing 12% of the total samples in each batch. Each batch incorporates one blank sample from ITAK, two Certified Reference Materials ("CRMs") from OREAS, a pulp duplicate, a coarse duplicate, and a field duplicate split directly at the Company's sample preparation facility.

To date, blank samples have returned values at or near detection limits, indicating no material contamination during sample preparation or analysis. In addition, CRM results have demonstrated a high level of accuracy, with the vast majority of rare earth assays falling well within acceptable performance limits. As is normal in any drilling and assay campaign, isolated results for individual elements occasionally fall outside the acceptable control limits; these are investigated and the affected samples are submitted for re-analysis as part of routine QA/QC procedures. None of these isolated occurrences affects the integrity of the database or the results reported in this release. Furthermore, field, coarse, and pulp duplicates have shown strong correlation and repeatability. The overall QA/QC results confirm the reliability and integrity of the reported geochemical data, consistent with industry best practices.

Qualified Person Information

Leandro Coracini Ollita, Qualified Person registered with the Brazilian Commission for Resources and Reserves (CBRR), Registration No. 023160, who is a “qualified person” within the meaning of Item 1300 of Regulation S-K (“S-K 1300”), has reviewed and approved the disclosure of technical information contained in this press release. Mr. Ollita confirms that he has managed and monitored the Homer-A project on site since the first stages of exploration. His continuous supervision encompasses the early exploratory works through to the execution of the reverse circulation (RC) and ongoing drilling programs, including the rigorous sampling protocols and the concurrent QA/QC campaigns, thereby attesting to the reliability of the geochemical assay results disclosed herein.

The information provided in this public statement constitutes initial “Exploration Results” (as defined in S-K 1300). At this stage, it is technically premature for the reader to use the presented information to derive estimates of tonnage and grade or quality. These Exploration Results cannot currently form part of a formal declaration of Mineral Resources or Mineral Reserves (as defined in S-K 1300), and they must not be presented in a way that unreasonably implies the discovery of potentially economic mineralization. While these exploration results are encouraging, they do not automatically translate into Mineral Resources or Mineral Reserves. The definition of a Mineral Resource requires the application of specific modeling, geostatistical, and estimation techniques, which can only be reliably applied once the drill grid spacing is deemed adequate, particularly in mineral deposits that may exhibit high geological or grade variability. Mr. Ollita is not independent of the Company as he is an employee of Alpha Minerals Brazil Participações Ltda, a wholly-owned Brazilian subsidiary of the Company.

Appendix A - Significant Drill Intercepts

Note: for additional drilling information associated with this release, see the Supplemental Technical Data section of the REA investor website.

Note: HREO (heavy rare earth oxides) includes europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu) and yttrium (Y).

Table 5 - Hole ID: RC-TGA-0009 Highlights

Table 6 - Hole ID: RC-TGA-0015 Highlights

Table 7 - Hole ID: RC-TGA-0016 Highlights

Table 8 - Hole ID: RC-TGA-0017 Highlights

Table 9 - Hole ID: RC-TGA-0018 Highlights

Table 10 - Hole ID: RC-TGA-0019A Highlights

Table 11 - Hole ID: RC-TGA-0020 Highlights

Table 12 - Hole ID: RC-TGA-0021 Highlights

Table 13 - Hole ID: RC-TGA-0022 Highlights

Table 14 - Hole ID: RC-TGA-0012 Highlights

Notes on Calculation Parameters:

• TREO+Sc (Total Rare Earth Oxides plus Scandium) is calculated based on the IUPAC definition of rare earth metals, comprising the lanthanide series, yttrium (Y), and scandium (Sc). TREO excl. Sc represents the total rare earth oxides excluding scandium, while retaining yttrium.
• HREO (Heavy Rare Earth Oxides) is defined as the sum of rare earth oxides excluding cerium (Ce), lanthanum (La), praseodymium (Pr), neodymium (Nd), samarium (Sm), and scandium (Sc). Yttrium (Y₂O₃) is formally included within the HREO total.
• Composite Calculation (TREO): Reported intervals are generally calculated utilizing a strictly applied 1,000 ppm TREO+Sc cut-off grade, a minimum composite length of 2.0 meters, and a maximum consecutive internal dilution of 2.0 meters (triggering a sub-cut-off limit of 700 ppm TREO+Sc).
• Composite Calculation (Sc₂O₃): Scandium-only intervals (reported as Sc₂O₃ Interval) are calculated independently from TREO intercepts, utilizing a dedicated 400 ppm Sc₂O₃ cut-off grade.
• Including: "including" and "and incl." rows are higher-grade sub-intervals reported within a main intercept, comprising consecutive samples of materially higher grade than the host intercept. They are not additional intervals and are not additive to the main intercept.
• Nb-Ta Overlap: Niobium-tantalum intervals are calculated on Nb₂O₅ using a 700 ppm Nb₂O₅ cut-off grade, a minimum composite length of 2.0 meters and a maximum consecutive internal dilution of 2.0 meters (sub-cut-off limit of 600 ppm Nb₂O₅). Ta₂O₅ grades are the length-weighted averages over the same intervals.
• Proportional Ratios: All reported percentages (NdPr, HREO, DyTb, Y₂O₃, and Sc₂O₃) are calculated relative to the overarching TREO+Sc total for the respective interval.
• True Thickness: All referenced holes were drilled vertically (-90° dip). Given the sub-horizontal geometry of the weathered soil and saprolite profile hosting the mineralization, reported downhole intervals are interpreted to closely approximate true thickness.
• Highest Intervals: "Highest interval" represents the absolute peak 1.0-meter sampled interval for the respective target commodity within a given drill hole.
• Pending Assays: The 0.0 to 15.0 m portion of hole RC-TGA-0016 belongs to a sample batch for which the analytical certificate has not yet been issued. This interval is excluded from the reported composites and will be reported once results are received.
• Technical Note for REO reporting in this press release: TREO: Refers to the total rare earth oxides comprising the 14 naturally occurring lanthanide elements (excluding radioactive promethium), plus yttrium. In the body tables, TREO is shown in brackets next to TREO+Sc; in Appendix A, the same value is labeled “TREO excl. Sc” for clarity. TREO+Sc: Refers to TREO with the addition of scandium oxide, aligned with the IUPAC definition classifying scandium as a rare earth metal alongside yttrium and the lanthanides. NdPr: Refers to neodymium and praseodymium oxides, which are critical light magnetic rare earths. DyTb: Refers to dysprosium and terbium oxides, which are premium heavy magnetic rare earths. HREO: Refers to heavy and medium-heavy rare earth oxides, including europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, and yttrium (excluding scandium).

Appendix B

The following Appendix B sections provide general background information on the markets for rare earths, niobium, and tantalum. This information is derived from publicly available third-party sources and is included for educational context only.

It is not intended as, and should not be construed as, an assessment of the economic viability of the Homer Project or any specific mineralization identified to date.

What are Rare Earths?

Rare earth elements are a group of 17 specialty metals critical to a wide range of advanced and everyday technologies. They are used in high-performance permanent magnets, particularly neodymium-iron-boron (NdFeB) magnets, which enable high strength and efficiency in applications such as robotics, electric vehicles, defense systems, wind turbines, and consumer electronics. In simple terms, motion generated by electricity is often powered by NdFeB magnets, making rare earths essential inputs in everyday items, from the motor that raises and lowers a car window to the motors used in drones and humanoid robots.

Of the 17 rare earth elements, neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb) are the key materials used in high-performance permanent magnets. Dy and Tb are particularly valuable due to their ability to enhance magnet performance at high temperatures.

According to Adamas Intelligence, China accounts for over 90% of global Dy and Tb production. This concentration has increased the strategic importance of developing new rare earth projects in other jurisdictions to support supply chain diversification and long-term demand growth.

What is Niobium?

Niobium (Nb) is a specialty metal primarily used as a microalloying element in high-strength low-alloy (HSLA) steels. Even small additions can significantly improve strength, toughness, and corrosion resistance while reducing overall steel weight. As a result, niobium is widely used in pipelines, construction materials, automotive components, and infrastructure. According to the U.S. Geological Survey (USGS), steel applications account for approximately 77% of U.S. domestic niobium consumption. Demand has remained relatively resilient because it is linked to long-cycle sectors such as infrastructure development, energy pipelines, and automotive lightweighting trends. Moreover, there is no readily available substitute that can deliver the same performance at a comparable cost.

The remainder of niobium demand comes from superalloys, typically in the form of high-purity ferroniobium and nickel-niobium. These materials are used in nickel-, cobalt-, and iron-based alloy systems for demanding applications such as jet engine components, rocket assemblies, and high-temperature, corrosion-resistant equipment.

On the supply side, global niobium mine production in 2025 was estimated at 112,000 tonnes, with Brazil accounting for roughly 93% of total output. This level of concentration means that niobium lacks the diversified, multi-country supply base characteristic of most industrial metals. Instead, it more closely resembles a single-country, limited-producer market, making any new and credible source of supply outside the established producers strategically significant. In this respect, the niobium market shares some similarities with the rare earths market and its historical dependence on China.

Taken together, a metal with highly specialized and difficult-to-replace industrial applications, demand driven by infrastructure and aerospace growth, and a supply base concentrated almost entirely within one country presents a compelling strategic proposition. The Homer Project’s niobium potential, if confirmed through further exploration and technical evaluation, would be assessed in the context of these market dynamics. Although Homer-A is also located in Brazil—and therefore does not represent geographic diversification in the way a non-Brazilian niobium deposit would—it nonetheless has the potential to emerge as a notable alternative source of supply within a highly concentrated market.

What is Tantalum?

Tantalum is a critical specialty metal used primarily in electronic capacitors, aerospace superalloys, and other high-performance applications. Global mine production in 2025 is estimated at approximately 2,500 tonnes, with the Democratic Republic of the Congo accounting for approximately 52% of supply, followed by Nigeria and Rwanda at approximately 16% each. According to the USGS, apparent U.S. tantalum consumption totaled approximately 890 tonnes in 2025. With no domestic tantalum production since 1959, the United States remains entirely reliant on imports to meet demand.

The importance of tantalum to U.S. supply chain security and national defense was further highlighted in 2025, when the U.S. government invested approximately $1 billion across critical mineral initiatives through strategic stockpiling programs, direct equity investments, grants, and loans. Notably, the National Defense Stockpile acquired several critical minerals, including antimony, cobalt, scandium, and tantalum.

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