Mont Royal Announces Agreement with Port Saguenay for the Ashram Rare Earths Project

Executive Summary

• Mont Royal Resources Ltd has signed a non‑binding MOU with the Saguenay Port Authority to explore locating a hydrometallurgical facility for its Ashram Rare Earth Project within the Port’s industrial zone.
• The agreement highlights Saguenay as a strategic logistics hub for importing rare earth concentrates and exporting refined products, aligning with Canada’s Northern Corridor initiative.
• The MOU is non‑exclusive and may be terminated by either party on 31 December 2026 if no formal agreement is reached.

Key Details

• Parties: Mont Royal Resources Ltd (ASX: MRZ / TSXV: MRZL) and Saguenay Port Authority (SPA).
• Purpose: Framework for cooperation on Mont Royal’s proposed hydrometallurgical plant to process rare earth concentrates from the Ashram Project.
• Location Benefits: Year‑round deep‑water port, rail and highway access, on‑site power, water, gas, and industrial services; proximity to skilled workforce and existing mining operations.
• Strategic Alignment: Supports Canada’s 2025 Federal Budget emphasis on critical minerals and the Canadian Northern Corridor (CNC) for export of strategic resources.
• Term: Non‑exclusive; terminable by either party in writing or automatically on 31 Dec 2026 absent a formal agreement, unless both parties consent to extend.
• Potential Facilities Access: SPA may allow use of port facilities for handling rare earth concentrate and intermediate products, subject to technical, environmental, regulatory, and operational approvals.
• Quotes:
• Nicholas Holthouse (Managing Director, Mont Royal) – emphasized reduced technical risk/CAPEX and strategic fit of Saguenay’s logistics.
• Carl Laberge (CEO, SPA) – highlighted the port’s role in the Northern Canadian Corridor and critical minerals sector.
• Luc Boivin (Mayor of Saguenay) – noted the agreement as a milestone for regional economic future and clean‑technology supply chains.

Notable Quotes

• “We are very pleased to be working with the Port of Saguenay… this agreement marks an important step towards the development of the Ashram Rare Earth Project.” – Nicholas Holthouse, Managing Director, Mont Royal
• “The signing of this agreement … confirms Saguenay's role as a strategic hub for the development of the critical minerals sector.” – Luc Boivin, Mayor of Saguenay & President, Promotion Saguenay

Materiality Assessment: Material – Positive (strategic partnership that could materially affect project logistics, cost structure, and regional economic impact).