Axel REE Limited

 Axel REE (ASX: AXL) is a critical minerals developer advancing the 572Mt Caladão rare earths and gallium project in Minas Gerais, Brazil, with significant growth potential. With ISR field trials underway, Axel aims to pioneer in-situ recovery of ionic clay REEs outside China and Asia, offering a potentially low-impact pathway to production. Our portfolio is enriched in high-value magnet REEs including NdPr, Dy and Tb, with significant gallium potential.

Management Profile:
Dr Patience Mpofu is Managing Director of Axel REE (ASX), a globally recognised mining executive, director and critical minerals strategist with 25+ years’ experience across metallurgy, operations, strategy, capital markets, ESG and stakeholder engagement. A PhD metallurgist with deep expertise in clay-hosted mineral systems, she has held senior roles at South32, Anglo American and Sibanye-Stillwater. Patience is also a Non-Executive Director of Orion Minerals (ASX/JSE) and Founder of Insight Mining Experts. She has advised governments, investors and industry on critical minerals and contributed to global initiatives through the World Economic Forum and B20/G20 Energy Transition Taskforce.

What are your key goals for the next 3 months?:
- Secure Investment & Funding Partnerships – Engage institutional investors, mining funds, family offices and strategic investors to support Axel REE’s next phase of resource growth, ISR field validation and project development.
- Develop Strategic & Offtake Partnerships – Connect with rare earth, gallium, magnet and advanced-material supply-chain participants interested in strategic investment, offtake and long-term partnerships.
- Build Axel’s Global Investor Profile – Position Axel REE’s 572Mt Caladão resource, REE + gallium exposure and differentiated ISR development pathway with investors seeking emerging critical-minerals opportunities in Brazil.

What are your key goals for the next 6 months?:
- Advance Funding Discussions – Build a qualified investor pipeline and progress priority institutional, strategic and development-finance relationships toward due diligence, investment proposals and potential funding commitments.
- Secure Strategic & Offtake Engagement – Progress discussions with REE/gallium processors, magnet manufacturers and downstream users toward NDAs, technical evaluation and potential MOUs/offtake or strategic investment partnerships.
- Deliver Development Milestones & Re-rate the Investment Story – Advance ISR field validation, hydrogeology, resource confidence and economic studies, while increasing Axel REE’s visibility with global critical-minerals investors and demonstrating a credible pathway from resource to development.

What are your key goals for the next 12 months?:
- Secure Strategic Funding – Establish a diversified funding platform combining institutional equity, strategic investors and non-dilutive/government funding to support Axel’s progression toward development.
- Establish Offtake & Strategic Partnerships – Progress at least one meaningful strategic investment, offtake or downstream partnership across the rare earths and gallium value chain, strengthening Axel’s pathway to market.
- De-risk Caladão & Demonstrate the Development Pathway – Successfully advance ISR field validation, hydrogeology, resource upgrading and economic studies , demonstrating a credible, scalable pathway toward commercial development of Caladão and strengthening Axel’s position as an emerging Brazilian REE + gallium developer.

What do you think makes your company such a compelling investment?:
Axel REE offers investors a differentiated critical minerals opportunity combining scale, strategic commodities and the potential for a low-cost, low-impact development pathway. Axel’s flagship Caladão Project in Minas Gerais, Brazil hosts a 572Mt ionic clay rare earth resource, with substantial potential for further growth across a large, underexplored mineralised system.

- Scale with significant growth potential: A 572Mt resource is already established, with considerable exploration upside and the potential to underpin a large, long-life critical minerals operation.
- Rare Earths + Gallium: Axel provides exposure to critical magnet rare earths including NdPr, Dy and Tb, together with significant gallium potential – positioning the Company across two strategically important global supply chains.
- Potentially disruptive ISR economics: Axel is advancing in-situ recovery (ISR) for its ionic clay mineralisation. Unlike conventional mining, ISR has the potential to eliminate large-scale excavation, haulage and much of the conventional mining and materials-handling infrastructure. If successfully demonstrated at field and commercial scale, this could translate into lower upfront capital intensity, lower operating costs and a significantly reduced physical footprint, creating the potential for Axel to ultimately position itself toward the lower end of the global rare earth cost curve.
- Lower environmental footprint: Our approach is about “moving ions, not rock.” ISR has the potential to substantially reduce surface disturbance, waste movement and the infrastructure associated with conventional open-pit mining. Demonstrating responsible water management, containment and rehabilitation through the field program will be central to validating this development pathway.
- Brazilian strategic advantage: Caladão is located in Minas Gerais, one of Brazil’s established mining jurisdictions, as Brazil seeks to play a larger role in diversified global critical-minerals supply chains.
- A catalyst-rich development phase: Axel is transitioning from resource definition toward development. ISR field validation, hydrogeology, resource upgrading, metallurgical optimisation and economic studies provide a series of upcoming milestones to progressively de-risk the project and demonstrate its commercial potential.
- The Axel investment proposition is compelling: scale, resource growth, rare earths + gallium, and the potential for a lower-CAPEX, lower-OPEX and lower-impact ISR development pathway. Successful field validation could provide the foundation for a highly competitive new source of critical minerals from Brazil.

What are your corporate activities?:
- Equity Raise / Strategic Investment – Engaging institutional investors, mining funds, family offices and strategic investors to fund the next phase of ISR validation, resource development and studies.
- Offtake & Strategic Partnerships – Seeking rare earth and gallium processors, magnet manufacturers and downstream users for potential offtake, strategic investment and supply-chain partnerships.
- Project & Development Finance – Building relationships with DFIs, government funding agencies and strategic financiers to establish a future funding pathway as Caladão progresses through economic studies toward development.
- JV / Technology Partnerships – Exploring partnerships that can accelerate ISR development, processing technology and downstream integration, particularly where partners bring relevant technical or market capability.
- Brand Awareness & Investor Positioning – Increasing Axel REE's international visibility as an emerging Brazilian rare earths + gallium developer, highlighting the 572Mt resource, growth potential and differentiated low-impact ISR development strategy.