DOE Award is TMRC’s 4th U.S. Government Award

Sierra Blanca, TX - (NewMediaWire) - April 22, 2021 - Texas Mineral Resources Corp. (OTCQB: TMRC):

·         DOE award value approximately $1.1 million¹

·         Award follows successful completion of September 2020 contract objectives

·         Project partners include Penn State, Jeddo Coal and McCarl’s

·         Full project plans production of 1-3 metric tons/day mixed rare earth oxides followed by final processing at USA Rare Earth facility

·         Successful completion heralds potentially significant economic benefits to region

·         Contract objective furthers effort to construct a complete U.S.-based REE supply chain

·         DoE award is TMRC’s fourth U.S. Government award

Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths and a variety of other high-value critical elements and industrial minerals, is pleased to announce the Department of Energy’s (DOE) National Energy Technical Laboratory (“NETL”) has selected a Texas Mineral Resources-led consortium to continue a contract targeting the production of rare earths from Pennsylvania coal waste.  This contract option continues the successful completion of the first phase of a DoE solicitation award in September 2020.

TMRC’s project partners include Penn State, Jeddo Coal Company and McCarl’s. The Texas Mineral Resources consortium objective is to ultimately install a self-contained, modular and portable pilot plant at a Jeddo Coal Pennsylvania site, capable of producing 1-3 metric tons of rare earth oxides derived from coal waste material from Pennsylvania anthracite coal.  The project commenced October 1, 2020 and resulted in the TMRC consortium successfully concluding a three-month conceptual design phase.  The full solicitation -- DOE Solicitation 89243320RFE000032: “Production of Mixed Rare Earth Oxides (REOs) or Rare Earth Salts (RESs) from Coal-Based Resources” – can be accessed at https://www.fedconnect.net/FedConnect/default.aspx?ReturnUrl=%2fFedConnect%2f%3fdoc%3d89243320RFE000032%26agency%3dDOE&doc=89243320RFE000032&agency=DOE

“We are honored to be selected to receive the second phase of a DoE award targeting the ultimate production of REEs from Pennsylvania coal-based resources,” commented Anthony Marchese, TMRC Chairman.  “We believe that the technological strength and experience of our team goes a long way toward a positive result from this project.  This contract is a significant step toward creating the first of these critical mineral reclamation operations in the Pennsylvania region.  The potential to profitably produce scandium and other rare earth minerals from Pennsylvania anthracite coal waste holds great promise.  Creating value from waste is an environmental goal shared by all citizens, especially when considering the strategic nature of the minerals proposed to be produced.  We are fully committed to work with local companies, capital sources and public officials in order to create potentially meaningful economic opportunity for an industry and region which for too long has been in a period of decline.”

This is the fourth U.S. Government award relating to the production of rare earth minerals in which Texas Mineral Resources has participated.  In 2016, TMRC announced it had successfully completed a demonstration-of-concept project funded by the U.S. Defense Logistics Agency (DLA) Strategic Materials Division to separate and refine specific high-purity rare earth elements, using a continuous ion exchange (CIX) and continuous ion chromatography (CIC) processing method.   In 2019 a consortium including Texas Mineral Resources consortium successfully completed a U.S. Department of Energy Office of Fossil Energy grant to produce multiple separated rare earth minerals from Pennsylvania coal mining waste material.  The CIX/CIC method used in both U.S. Government grants is the method being used to process rare earths and additional U.S. Government-listed Critical Minerals from the Round Top (TX) project, being developed by TMRC’s funding and development partner, USA Rare Earth, LLC. 

Successful completion of the DOE contract is consistent with a commercial supply chain in which final separation of the mixed REE concentrate into individual high purity rare earth oxides would be accomplished at USA Rare Earth’s processing facility using CIX/CIC processing methodology.

¹ https://govtribe.com/opportunity/federal-contract-opportunity/production-of-mixed-rare-earth-oxides-...

About Texas Mineral Resources Corp.

Texas Mineral Resources Corp.'s focus is to develop and commercialize, along with its funding and development partner USA Rare Earth LLC, its Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso. Additionally, the Company’s strategy is to develop alternative sources of strategic minerals through the processing of coal waste and other related materials as well as developing other domestic mining projects in more traditional metals.  The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.”

Company Contact:

Texas Mineral Resources Corp.
Anthony Marchese, Chairman
E-mail: amarchese@tmrcorp.com

¹ https://govtribe.com/opportunity/federal-contract-opportunity/production-of-mixed-rare-earth-oxides-...