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Technical Study

Ashram Project PEA Nears Completion as Mont Royal Establishes Advisory Board and Strengthens Management

N/A

By The Northwire Desk — AI Analysis Apr 07, 2026 · 00:15 MRZL · 0.175 Mont Royal Resources Limited
Executive Summary
  • The Ashram Rare Earth and Fluorspar Project’s updated Preliminary Economic Assessment (PEA) is approximately 80 % complete, with full delivery expected in April 2026.
  • Revised assumptions – including all‑season access road to Schefferville, rail logistics via Tshiuetin Rail Transportation/QNSL to Sept‑Îles, evaluation of transport options to a proposed Saguenay hydrometallurgical facility, and updated mining throughput targeting Mixed Rare Earth Oxide (MREO) as the final product – are projected to lower both capital and operating expenditures while reducing overall project risk.
  • Mont Royal appointed Constantine Karayannopoulos (former President & CEO of Neo Performance Materials, former Vice‑Chairman/CEO of Molycorp, co‑founder of Neo Lithium) as the inaugural member of its newly established Advisory Board to provide strategic guidance on downstream development and Quebec‑based expertise.
  • Additional advisory board members are planned for near‑term addition, emphasizing a strong Quebec presence.
Material Impact
  • The news reflects ongoing, expected progress rather than a surprise breakthrough. Completion of the PEA by April 2026 was previously disclosed as a target; the advisory board appointment adds expertise but does not alter the project’s fundamental economics or financing structure.
  • No new material financing, major resource upgrade, or definitive off‑take agreement is announced. Therefore the impact is incremental and positive, aligning with market expectations – classified as Routine - Positive.
MRZL · Price
Company Overview

Mont Royal Resources Ltd (TSXV: MRZL / ASX: MRZ) is a Quebec‑based critical minerals developer. Its flagship asset is the 100 %‑owned Ashram Rare Earth & Fluorspar Project, located in northeastern Quebec near Schefferville. - Resource estimate (as previously reported):
- Indicated: 73.2 Mt @ 1.89 % TREO & 6.6 % CaF₂
- Inferred: 131.1 Mt @ 1.91 % TREO & 4.0 % CaF₂
- The deposit is monazite‑hosted, considered a Tier‑1 rare earth occurrence with significant fluorspar by‑product potential. - Historical work includes extensive drilling, metallurgical testwork (flotation producing ~36 % REO concentrate), and prior PEA efforts; the current program seeks to de‑risk the project through revised logistics, updated economic modelling, and strategic advisory input.

Read the original news release →

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