ACLARA RECEIVES EXIM BANK LETTER OF INTEREST FOR UP TO US$750 MILLION

Aclara Resources Inc. (ARA) announced on September 4, 2026, that the Export-Import Bank of the United States issued a non-binding Letter of Interest for up to US$750 million in financing for Project Dynamo. The proposed financing would support the planned rare earth separation, metals, and alloys facility at the Port of Vinton, Louisiana.

Terms cited include up to a 15-year repayment tenor under EXIM’s “Make More in America” initiative. EXIM’s indication was based on preliminary information about expected U.S. exports and U.S. jobs supported by the facility. The release states that basic engineering by Hatch and key permitting activities are in final stages, with the facility expected to be construction-ready by the end of 2026.

Technology demonstrations continue, including solvent extraction at Virginia Tech and molten salt electrolysis in Chile. The LOI is expressly non-binding and subject to EXIM due diligence, application, underwriting, authorization, documentation, and other requirements. No final commitment exists.

Aclara Resources Inc. (ARA) announced a new financing item not previously disclosed in its news history. While prior U.S. government support for the company included a US$5 million DFC project financing, US$46.4 million in Louisiana incentives, and DOE Phase I AI funding of an unspecified amount, this latest development involves the U.S. Export-Import Bank (EXIM).

The headline figure is large relative to Aclara’s market capitalization and Project Dynamo’s estimated capital cost. Prior disclosed capital expenditures for Project Dynamo totaled US$277 million plus US$52 million in working capital, with the Metals & Alloys portion accounting for US$149 million plus US$11 million in working capital. An amount of up to US$750 million would be substantial if finalized.

However, the letter of intent (LOI) is non-binding. It does not constitute a loan approval, a term sheet, or committed capital. EXIM may reduce the amount, impose conditions, or decline the financing after due diligence.

In prior-period context, Aclara held US$42.6 million in cash as of Q2 2026 with no commercial debt. However, first-half 2026 operating cash flow was -US$10.3 million and first-half capital expenditures were -US$19.6 million. This LOI does not cure near-term liquidity needs.

The release is company-authored promotional copy. The only concrete new fact is EXIM’s non-binding willingness to consider financing.

Aclara Resources Inc. is a TSX-listed rare earth development company building a vertically integrated mine-to-alloy rare earth supply chain. Its flagship Carina Project in Goiás, Brazil, is scheduled to release a feasibility study in April 2026. The study projects an after-tax net present value of US$1.7 billion at an 8% discount rate, a 26.9% internal rate of return, and a 2.9-year payback period. Construction capital expenditure is estimated at US$780.9 million, including contingency. The project has an 18-year life of mine with average annual production of about 4,378 tonnes of rare earth carbonate, including key annual outputs of 156 tonnes of dysprosium, 27 tonnes of terbium, and 1,191 tonnes of NdPr.

In the Biobío Region of Chile, the Penco Module received its Environmental Qualification Resolution in June 2026. Aclara has entered a partnership with CAP, which holds a 20% stake with an option to increase its holding to 40%. A feasibility study for the project is targeted for the fourth quarter of 2026.

Project Dynamo in Louisiana, USA, is planned as a separation, metals, and alloys facility. A scoping and FEL 2 study indicates an after-tax net present value of US$470 million, an internal rate of return of 25.2%, and capital expenditure of US$277 million plus working capital. The facility is expected to separate rare earth carbonates into individual oxides including NdPr, Dy, Tb, Sm, Gd, and Y, with construction targeted to be ready by the end of 2026.

The Metals & Alloys Project is a 50/50 joint venture with CAP. An FEL 2 study for this venture shows an after-tax net present value of US$203 million, an internal rate of return of 25.0%, and capital expenditure of US$149 million plus working capital. A demonstration plant using molten salt electrolysis is planned for the third quarter of 2026.