Binding Option to Acquire 90% of Advanced Pomme REE Project in Quebec,

New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce that it has entered into a binding option and earn-in agreement providing NFM with the right to acquire a majority (90%) interest in the Pomme REE Project from Australian-listed company Metallium (ASX: MTM), which is located approximately 500 km northwest of Montréal in Québec around 100 km from the service town of Lebel-sur-Quévillon. The Pomme Project consists of 43 mineral claims, covering 2,400 ha. NFM holds the exclusive and binding option to acquire 90% of the Pomme REE-Nb project.

Highlights

• Binding option and staged earn-in agreement executed to acquire 90% of the Pomme Project, which is a large carbonatite-hosted Rare Earth Element (REE) and Niobium (Nb) Project in Québec
• Strategic alignment and acquisition from Metallium Limited (ASX: MTM) deepens the Harts Range vertical integration¹ and adds a complementary Canadian asset to create a western world jurisdictional partnership
• Metallium to assist as processing and technology partner, supporting metallurgical test work and downstream development
• Initial activities will target conventional metallurgical studies work and Flash Joule Heating (FJH) test work on existing drill samples to assess the potential for upgrading REE mineralisation
• Limited wide spaced scout drilling undertaken to date with high grade known mineralisation and large areas remaining untested from reconnaissance drilling
• Pomme REE Carbonatite key historical intercepts^2,8 include:
  • Drillhole POM-23-03: 398m @ 0.54% TREO & 0.05% Nb₂O₅ from 16m, including:
  • 30.5m @ 1.13% TREO & 0.03% Nb₂O₅ (from 311.5m) including
    • 26.5m @ 1.45% TREO & 0.02% Nb₂O₅
  • 51m @ 0.92% TREO & 0.06% Nb₂O₅ (from 216m) including
    • 9m @ 1.21% TREO & 0.03% Nb₂O₅ and
    • 8.5m @ 1.62% TREO & 0.03% Nb₂O₅
  • 36m @ 0.92% TREO & 0.06% Nb₂O₅ (from 174m) including
    • 18m @ 1.16% TREO & 0.03% Nb₂O₅
  • _{Drillhole POM-23-01: 513m @ 0.33% TREO & 0.08% Nb2O5 from 32m, including:}
  • 17.5m @ 0.68% TREO & 0.08% Nb₂O₅ (from 228.6m) including
  • 7.6m @ 0.9% TREO & 0.02% Nb₂O₅, and
  • 94.8m @ 0.55% TREO & 0.05% Nb₂O₅ (from 333.5m) including
    • 4.5m @ 1% TREO & 0.02% Nb₂O₅, and
    • 4.9m @ 1.1% TREO & 0.02% Nb₂O₅, and
    • 4.25m @ 1.28% TREO & 0.02% Nb₂O₅, and
    • 17m @ 0.72% TREO & 0.06% Nb₂O₅
• The project comprises easily accessible claims via logging roads, has access to hydro-electric power, relatively flat topography, and is supported by extensive mining infrastructure and services²
• Low cost upfront consideration A$100,000 cash and A$200,000 in shares with contingent payments to earn a majority project interest through staged investment and technical milestones
• Government support and existing arrangements with local Cree First Nations of Waswanipi (CFNW) community²
• NFM (OTCQB:NFMXF) has engaged New York-based Viriathus Investor Advisory to expand its profile and actively promote the Company to US investors and capital markets

Chairman Gerrard Hall commented: “This transaction materially advances NFM’s critical minerals strategy. Pomme is a large, carbonatite-hosted REE…