Mont Royal Recommences PEA Study and Appoints Altris Engineering to Lead

Executive Summary

• Mont Royal Resources has engaged Altris Engineering as Lead Engineer to update the Preliminary Economic Assessment for its 100%‑owned Ashram Rare Earth & Fluorspar Project in Quebec.
• Altris will conduct an initial Gap Analysis of the 2015 PEA, then resume PEA close‑out work with a target completion date by the end of Q1 2026 (3–6 months after the gap analysis).
• The updated PEA is expected to incorporate revised throughputs and project configuration, aiming to reduce technical risk and capital costs and improve project economics for shareholders.

Key Details

• Engagement Scope: Altris Engineering will replace BBA Consulting, performing a Gap Analysis of the existing 2015 PEA and then delivering an updated PEA within 3–6 months.
• Timeline: Gap Analysis to be completed shortly; full PEA close‑out targeted for end of Q1 2026.
• Project Context: Ashram is a Tier‑1 monazite‑hosted rare earth deposit with high‑grade resources and historic metallurgical work demonstrating strong flotation kinetics and the ability to produce high‑quality Mixed Rare Earth Oxide (MREO).
• Strategic Rationale: Updated PEA will use revised throughput assumptions and an optimized project configuration to lower technical risk, reduce capital expenditures, and enhance economics.
• Management Comments:
• Nicholas Holthouse (Managing Director, Mont Royal) highlighted the focus on reducing technical risk and capital costs through the gap analysis and updated study.
• Michael Ehlers (Managing Director, Altris Engineering) emphasized Altris’ expertise in rare‑earth and critical‑minerals projects and its role in delivering a cost‑effective PEA.
• Other Assets: The release also references Mont Royal’s additional assets – Eldor Niobium Project and Northern Lights Lithium Project – underscoring the company’s broader critical‑minerals portfolio.

Notable Quotes

“We are very pleased to be recommencing the PEA study…the focus of the team over the past few months has been to carefully review all the work completed to date and ascertain what can be done with the existing PEA format and metrics.” – Nicholas Holthouse, Managing Director, Mont Royal

“We're excited to lead the PEA for Mont Royal's Ashram Project…we look forward to completing the Gap Analysis before advancing the optimised PEA, with a focus on reducing technical risk and capital requirements.” – Michael Ehlers, Managing Director, Altris Engineering