GlobeNewswire·Jun 4, 2026, 7:00 AM ET

REalloys Signs Letter of Intent with Patriot Exploration & Mining

REalloys Inc. signed a non-binding Letter of Intent with U.S.-based Patriot Exploration & Mining to secure priority access to up to approximately 30% of Patriot's rare earth production.
Patriot holds access to a reported 2 billion metric tons of above-ground, rare earth element-bearing material across 150+ tested sites in the Appalachian Basin from Alabama to Pennsylvania.
Patriot's feedstock contains over 40 U.S.-designated critical minerals including neodymium, dysprosium, praseodymium, & terbium, which are central to REalloys' midstream platform.
The parties will conduct metallurgical test work & complete bench-scale & pilot-scale validation to confirm compatibility with REalloys' processing infrastructure.
This agreement aims to provide defense-grade rare earth material to support REalloys' strategy ahead of the January 2027 statutory prohibition under 10 U.S.C. §4872 & DFARS 252.225-7052.
REalloys' diversified feedstock network now includes relationships in the U.S., Brazil, Kazakhstan, & Greenland, alongside its foundational Hoidas Lake asset in Saskatchewan, Canada.
Patriot's flagship Southwest Virginia property comprises 30 million tons of brownfield feedstock with Norfolk Southern rail access & a 400 TPH wash plant.
The non-binding LOI precedes the negotiation of a definitive long-term offtake agreement based on successful validation of the feedstock compatibility.