Updated MRE Incorporates Heavy Rare Earth Elements

16 July 2026

NEOTERRA GROUP PLC

("NeoTerra" or the "Company")

Updated Mineral Resource Demonstrates Potential to Increase Monte Muambe Fluorspar Project Revenues by up to 40% Through Heavy Rare Earth By-Product

NeoTerra (LSE: TERA) (OTCQB: ANRCF), the African critical minerals exploration and development company, is pleased to provide an update to the Mineral Resource Estimate ("MRE") for Fluorite Zone and Python at its Monte Muambe Project in Mozambique.

The updated MRE incorporates Heavy Rare Earth Elements ("HREE") for the first time and demonstrates the potential to recover a valuable HREE-rich concentrate alongside the Company's planned acid-grade fluorspar production. The additional product stream has the potential to increase projected revenues for the fluorspar project by up to 40% over the life of mine, whilst requiring only modest incremental capital expenditure and operating costs.

Highlights

·    Updated fluorspar MRE now includes Heavy Rare Earths Elements ("HREE"), confirms potential for a valuable HREE-rich concentrate by-product alongside planned acid-grade fluorspar production.

·    Potential annual production of up to 650 tonnes of HREE-rich concentrate, subject to metallurgical optimisation.

·    HREE by-product could increase projected fluorspar operation revenues by up to 40%, requiring only modest additional capital expenditure and operating costs, therefore creating the opportunity to materially enhance project economics.

·    Further strengthens Monte Muambe's position as a strategically important multi-commodity critical minerals project.

Updated Resource Highlights Opportunity to Materially Enhance Fluorspar Mine Economics

Further to its announcements of 14 April 2026 and 4 June 2026, the Company is pleased to announce an updated MRE for the Fluorite Zone and Python orebodies incorporating rare earth elements.

The updated MRE provides the basis for a first assessment of the quantity of HREE-rich concentrate that could potentially be recovered as a by-product of the Company's planned fluorspar operation.

Table 1 - Fluorite Zone and Python rare earths MRE (cut-off grade 12.5% CaF₂ - see Notes¹).

Based on the updated MRE and assuming an estimated recovery of approximately 65% into a concentrate grading 70% TREO, the Company estimates that the mining operation has the potential to produce annually up to 650 tonnes of HREE-rich rare earths concentrate, containing approximately 80 tonnes of yttrium oxide, alongside the planned production of 50,000 tonnes of acid-grade fluorspar.

Management believes this additional product stream has the potential to increase overall project revenues by up to 40%. Importantly, recovery of the HREE concentrate would require only modest modifications to the fluorspar flotation circuit and therefore occur after the majority of mining, crushing, grinding and primary flotation costs have already been incurred for fluorspar production. As a result, only modest incremental capital expenditure and operating costs are anticipated, creating the opportunity to materially enhance overall project economics and future cash generation.

Cedric Simonet, CEO of NeoTerra, commented:

"This updated resource estimate indicates the significant value creation potential of recovering heavy rare earths as a by-product of our planned fluorspar operation.

"For the first time, we have quantified the potential impact of recovering a valuable heavy rare earth concentrate alongside our planned fluorspar production.

"While further metallurgical and engineering work remains, these results continue to strengthen the business case for the Monte Muambe fluorspar operation and its importance as a near-term producer of strategically important minerals.

"As development work continues, we look forward to capitalise on the results announced today to unlock further value for our shareholder."

(1)  Notes to Table 1:

a.   MRE computations cover the same volumes of rock as the measured and inferred CaF₂ MRE published on 5 May 2026.

b.   All REE grades (TREO, HREO, Y₂O₃) are reported at Inferred confidence throughout. REE classification boundaries differ from CaF₂ boundaries due to different variogram parameters and estimation domains.

c.   Tonnes and density incorporate a 7.8% global cavity depletion factor.

d.   TREO = La₂O₃ + CeO₂ + Pr₆O₁₁ + Nd₂O₃ + Sm₂O₃ + Eu₂O₃ + Gd₂O₃ + Tb₄O₇ + Dy₂O₃ + Ho₂O₃ + Er₂O₃ + Tm₂O₃ + Yb₂O₃ + Lu₂O₃ + Y₂O₃.

e.   HREO = Tb₄O₇+Dy₂O₃+Ho₂O₃+Er₂O₃+Tm₂O₃+Yb₂O₃+Lu₂O₃+Y₂O₃. 

f.    Rounding: differences may occur in totals.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

For further information, please visit the Company's website:

-ends-

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NeoTerra Group Plc

Louise Adrian, CFO                 +44 (0) 7721 492 922 ([email protected])

Strand Hanson (Financial Adviser)                                                      +44 (0) 20 7409 3494

Christopher Raggett

Imogen Ellis

Zeus Capital (Corporate Broker)                                                         +44 (0) 20 3829 5000

Simon Johnson

James Hornigold 

About NeoTerra Group Plc 

NeoTerra Group Plc (LSE:TERA)(OTCQB:ANRF) is a London Main Market-listed exploration and development company focused on unlocking the value of critical raw materials across Africa. The Company is pursuing a diversified strategy, targeting assets with potential for near-term monetisation alongside long-term growth.

The multi-commodity Monte Muambe Project in northwest Mozambique is a highly prospective tenement hosting rare earths, fluorspar, and gallium mineralisation. Published JORC mineral resource estimates include:

·    13.6Mt at 2.42% TREO

·    3.48Mt at 20.6% CaF₂

·    11.73Mt at 54.7g/t Ga₂O₃

The project is held under a 25-year mining licence and has received US Government support in the form of a US$ 1.875 million grant from USTDA to advance the rare earths component through the prefeasibility stage.

NeoTerra's diversified portfolio also includes the Sesana Copper-Silver Project in Botswana, strategically located just 25 km from MMG's Khoemacau Zone 5 copper-silver mine.

With a unique combination of critical raw materials projects, NeoTerra is well positioned to contribute to the global supply of strategically important commodities essential for clean energy, high technology, defence and industrial applications.

The Company and the Board remain actively focused on identifying and evaluating additional projects that align with our investment profile and strategic objectives, leveraging our extensive network and combined industry experience to uncover compelling opportunities that can drive long-term growth.

Competent Person Statement

The Mineral Resource Estimates contained in this RNS have been compiled by Joshua Hattingh (BSc (Hons.), FGSSA, Pr.Sci.Nat. 400039/02), a director of Rock and Stock Investments (Pty) Ltd. Mr Hattingh is a Fellow of the Geological Society of South Africa and a registered Professional Natural Scientist. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person in terms of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Hattingh consents to the inclusion in this RNS of the Mineral Resource Estimate information in the form and context in which it appears.