Meryllion Resources, Drilling Underway at Tasmanian IAC REE Project

Executive Summary

• Meryllion Resources began scheduled drilling on its ionic adsorption clay (IAC) hosted rare earths project in northeastern Tasmania, Australia.
• The program will drill ~400 m of wide‑spaced reconnaissance vertical holes averaging 6 m depth, with samples taken at 1 m intervals for laboratory analysis.
• Results are expected within the next 60 days, and the company plans to start permitting for a separate drilling campaign at its Makenzie project in Nevada in Q1 2026.

Key Details

• Project Scope: Approximately 400 m total drill length across multiple wide‑spaced vertical holes (≈6 m average depth) using open‑hole reverse‑air‑blast (RAB) techniques.
• Sampling Plan: Core samples at 1 m intervals from surface; sent to ALS Chemex (Burnie, Tasmania) for preparation and to a South Australian facility for XRF analysis.
• Historical Context: Prior outcrop sampling (May 2024 release) reported up to 3,500 ppm total rare earth elements (TREE), with high‑grade dysprosium (163–276 ppm Dy₂O₃) and terbium (26–43 ppm Tb₄O₇).
• Tenement Size: The Tasmanian IAC REE tenement package covers ~800 km².
• CEO Comment: Richard Revelins highlighted the shallow nature of IAC deposits, the goal to maximize ground coverage, and an anticipated 60‑day turnaround for drilling results.
• Future Plans: Permitting process for the Makenzie antimony/gold/silver project in Nye County, Nevada slated for Q1 2026 to enable subsequent drilling.
• Qualified Person: Mark J. Pryor, SACNASP, reviewed and approved the technical disclosure.

Notable Quotes

“We are very pleased to get out onto our ground and start drilling… We anticipate having results available within the next 60 days.” – Richard Revelins, CEO, Meryllion Resources Corporation