Hyperion’s Rare Earth Testwork Highlights High Recovery and Potential for Low Cost Processing

CHARLOTTE, N.C.–(BUSINESS WIRE)–$HYM#3Dprinting—Hyperion Metals Limited (ASX: HYM):

• Rare earth concentrates flotation test work identified a 97% overall recovery of rare earth minerals from a heavy mineral concentrate, providing the potential for a higher grade rare earth product than could be achieved without flotation
• The successful flotation of rare earth minerals as a preliminary processing stage provides the potential for significant benefits to a future mineral separation plant design, including:
  • Design simplification compared to the separation of rare earth minerals at later processing stages
  • Reduction of potential contamination of downstream products, including titanium and zircon
• Importantly, extraction of the highly valuable rare earths as a preliminary processing stage confirms the potential for significant optionality for product strategy and plant development, including phased capital development
• The results were consistent with prior testwork, with Nd+Pr making up 21.3% of rare earths, and the highly valuable Tb+Dy making up 1.9% of rare earths
• At current spot pricing, the potential basket price of the rare earth oxide products is ~US$50,000/t
• The latest results continue to highlight the potential for west Tennessee to be a major source of conventional and sustainable rare earth minerals, and for Hyperion to be a major player in the U.S. rare earth supply chain

Anastasios (Taso) Arima, CEO and Managing Director said:

“The flotation test work results are a significant event in the development of Hyperion’s minerals business. The successful separation and high recovery of rare earth elements at the front end of the process via a simple flotation and upgrade circuit confirms the potential for significant optionality in Hyperion’s product marketing strategy.

Test work highlighting the simple separation of a rare earth concentrate product stream at the front end allows for significant optionality potential in process flow sheet design.

These results and the recent announcement of our maiden Mineral Resource Estimate continue to showcase the outstanding potential for Hyperion to develop a major source of critical mineral supply in this major untapped region in west Tennessee.”

Full details of the announcement can be found here.

Contacts

For further information and enquiries:

Anastasios (Taso) Arima, CEO andManaging Director
Dominic Allen, Corporate Development

info@hyperionmetals.us
+1 704 461 8000