Neotech Metals Approved for $500,000 CMIF Grant

Executive Summary

• Neotech Metals Corp. has been selected to receive a $500,000 non-dilutive grant from Ontario's Critical Minerals Innovation Fund (CMIF).
• The funding will accelerate metallurgical, hydrometallurgical, and processing test work on the company's Hecla-Kilmer Rare Earth, Niobium, and Phosphate Project.
• The award represents the maximum grant available per project and covers 50% of qualified expenditures up to $1,000,000 in total program costs, positioning the asset to serve battery, green energy, and defense markets.

Key Details

• Grant Amount: $500,000 (maximum available per project under the CMIF program)
• Funding Structure: Non-dilutive, reimbursing 50% of qualified expenditures
• Total Program Costs Covered: Up to $1,000,000 in qualified expenditures
• Technical Focus: Metallurgical, hydrometallurgical, and processing test work
• Target Project: Hecla-Kilmer Rare Earth, Niobium and Phosphate Project (Northern Ontario)
• Mineralization Profile: Intrusive, apatite-hosted mineralization offering higher purity relative to many sedimentary phosphate sources
• Target Markets/Applications: LFP battery feedstock, rare earth elements for the green energy transition, and critical minerals for defense applications
• Future Disclosures: Scope of the test work program and associated results will be published in future news releases
• Strategic Context: Award supports Ontario's broader strategy to build a domestic critical minerals supply chain and complements the province's newly announced $500 million Critical Minerals Processing Fund

Notable Quotes

• Stephen Lecce, Minister of Energy and Mines: "Ontario is doubling down on its leadership in the critical minerals sector, and our Critical Minerals Innovation Fund is a core component of this strategy... This investment will help advance innovative processing work at the Hecla-Kilmer REE, Niobium, and Phosphate Project and support the development of a domestic rare earth supply chain."
• Reagan Glazier, CEO: "We are extremely pleased to be the recipients of this funding and grateful for the Ontario government's continued support of our work at Hecla-Kilmer. The CMIF award allows us to accelerate metallurgical and processing studies at a pivotal stage in the project's development... Programs like the CMIF, together with the province's new $500 million Critical Minerals Processing Fund, are exactly the kind of support needed to convert that mineralogical advantage into a Made in Ontario critical minerals supply chain."