Avalon Advanced rehires Marsh for Nechalacho work

Executive Summary

• Avalon Advanced Materials has re-engaged Dave Marsh on a contract basis to lead process development and updated feasibility work for its Nechalacho rare earth and zirconium project in the Northwest Territories.
• The company is advancing an updated Preliminary Economic Assessment (PEA) and NI 43-101 technical report with Wood Canada Ltd., with a strategic plan to transition into a full Definitive Feasibility Study (DFS) to position the project for construction and financing readiness.
• Avalon has engaged SCP Resource Finance as a strategic capital adviser to develop a long-term capital and partnership strategy for its lithium and rare earth projects, while actively engaging with Canadian and U.S. government stakeholders to support allied supply chain security.

Key Details

• Dave Marsh re-engaged on a contract basis to support continuing process development and advancement of updated feasibility work at Nechalacho.
• Marsh previously served as COO and SVP, Metallurgy, leading the 2013 feasibility study; his re-engagement provides strategic continuity as the company refreshes the project's technical foundation.
• Marsh will collaborate with Wood Engineering and Avalon's technical team to adapt the metallurgical flow sheet to reflect current technical, commercial, and geopolitical realities, including advances in rare earth processing technologies and allied supply chain priorities.
• Nechalacho is the largest rare earth project in North America to reach feasibility-level evaluation, hosting the continent's richest deposit of the four magnet rare earth elements critical to defense and advanced manufacturing.
• Project fundamentals are supported by a 2013 DFS completed by SNC-Lavalin and a NI 43-101 technical report by Micon, confirming technical and economic viability.
• Regulatory pathway is derisked with a land use permit and water licence already secured.
• Wood Canada Ltd. has been engaged to commence a refresh of the project's technical and economic basis through an updated PEA and NI 43-101 technical report.
• Following the PEA, the company plans to transition into a full DFS, positioning the project for construction and financing readiness.
• SCP Resource Finance engaged as strategic capital adviser to support development of a long-term capital and partnership strategy for Avalon's lithium and rare earth projects.
• Mineralization details include LREEs (allanite, monazite, bastnaesite, synchysite), Y, HREEs, Nb, and Ta (fergusonite), Nb (ferrocolumbite), HREEs, Nb, Ta, and Zr (zircon), and Ga (biotite, chlorite, feldspar in albitized feldspathic rocks).
• Company is also advancing Lake Superior Lithium Inc., Ontario's first mid-stream lithium hydroxide processing facility in Thunder Bay, and holds a minority interest in the Separation Rapids lithium project via a JV with SCR Sibelco NV.

Notable Quotes

• Scott Monteith, President & CEO: "We are very pleased to welcome Dave back to Avalon at this important stage in the advancement of the Nechalacho project... His experience will be instrumental as we refresh the project's technical foundation and advance Nechalacho toward its next phase of development."
• Dave Marsh: "Nechalacho is recognized as one of North America's most advanced rare earth projects... By incorporating updated metallurgical approaches and current market realities, we can position the project for financing and long-term integration into allied rare earth supply chains."