TORONTO — Jaguar Uranium Corp. (NYSE American: JAGU) has commenced an initial rare earth element assessment program at its flagship Berlin Project in Caldas, Colombia. The site is a polymetallic sedimentary deposit containing uranium mineralization alongside associated rare earth elements (REE) and battery-related commodities such as vanadium, phosphate, nickel, molybdenum, rhenium, and yttrium.

The company plans to utilize approximately 20,000 meters of preserved historic drill core for selective re-sampling and assaying. This approach is intended to advance early-stage REE characterization without the immediate requirement for new drilling. The program represents the first dedicated effort by the company to evaluate the rare earth potential of the 9,053-hectare concession area.

“The results could be a step-change in how this project is understood and technically evaluated.” — Steven Gold, Chief Executive Officer, Jaguar Uranium Corp.

“We are now attempting to advance the recognition that Berlin could represent a relevant non-China based critical mineral deposits in the western hemisphere and specifically in Latin America,” stated Steven Gold, Chief Executive Officer of Jaguar Uranium Corp. “We believe the results could be a step-change in how this project is understood and technically evaluated.”

The strategic shift toward REE evaluation follows a period of increased global policy attention regarding critical mineral supply chains. Materials required for defense systems, electric vehicles, and clean energy infrastructure have become a priority for Western governments seeking to diversify away from Chinese-dominated markets. Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies (CSIS), has indicated that the US and the European Union are working to foster independent markets for these materials.

The Berlin Project deposit is situated within a layered sedimentary sequence of phosphate-bearing limestone. The company is employing a three-phase approach for its assessment: core logging and systematic re-sampling, multi-element geological modeling, and an evaluation of by-product economics. This modeling will integrate REE assay data with existing datasets for uranium, vanadium, and phosphate to establish a technical foundation for future resource estimates.

Infrastructure at the site includes proximity to a hydroelectric power source 12 kilometers away and access to a river port approximately 65 kilometers from the project, providing a logistical route to the Caribbean coast. The company, which completed a $25 million USD initial public offering on the NYSE American (NYSE American: JAGU) in February 2026, is also managing the Laguna Salada Project in the Argentine province of Chubut and the Huemul mine in Mendoza.

Technical information regarding the program was approved by Owen D. W. Miller, a qualified person as defined by NI 43-101. The company noted that the Berlin Project remains in the exploration stage and does not currently host mineral resources or reserves as defined under SEC Regulation S-K 1300.

Above photo: Col. John P. Kunstbeck scans uranium ore for alpha and beta radiation signatures outside of a uranium mill. (Photo Credit: U.S. Army photo by Maj. Mark S. Quint)

Over the last 12 months, Auxico has completed a series of metallurgical tests using the ultrasound assisted extraction process (“UAEx”) for mineral extraction, for which the company signed a technology license agreement earlier this year. The tests showed that the UAEx process is very efficient on high-value rare earth samples, achieving 80%+ recoveries of selected rare earth elements over a two-hour long leaching time.

The UAEx process is a sustainable metallurgical process for the refining of critical minerals using ultrasound technology. The laboratory results demonstrate that, when combined with certain acids and used at various frequencies, this ultrasound process breaks up the ore into fine particles in a more accelerated time over conventional methods. This reduces the cycle times significantly for the leaching of ores, leading to lower operating and capital costs.

Auxico previously acquired mineral rights and surface rights to the Minastyc Property located in the municipality of Puerto Carreño, department of Vichada, Colombia. Auxico made a discovery of high-value rare earth ore on the property, with a total rare earth content of 56.87% in concentrates, as well as an additional discovery at a distance of 1.6 kilometers from the initial discovery (total rare earth content of 55.03% in concentrates), confirming the presence of a host of rare earth minerals along this mineralized zone.

Colombia’s competitive free-trade regime was established to promote industrial processing of goods and services primarily for export, and is regulated under a special customs, exchange, and fiscal regime offering various benefits to businesses. The Santa Marta free-trade zone, one of 12 free-trade zones in the country, is located near the port of Santa Marta on the Caribbean Sea, in the northern Colombian department of Magdalena. The port transports the third highest bulk volume in Colombia. The Zona Franca Tayrona industrial park is located within the free-trade zone and 12 kilometers from the port, and has excellent access to roads, including a railway line that connects the port to the interior of Colombia.

Grant of Stock Options

Auxico also announced that it granted 450,000 stock options to consultants to the company. These options have a strike price of $1.39, no vesting period and an expiry date of November 24, 2026.

Tantalum (above photo) is an important metal for electronics – especially capacitors, and laboratory equipment. Niobium is important for the space industry and is also used in jewelry.

The program confirmed the presence of tantalum and niobium, as well as various rare earths including: ytterbium, hafnium, neodymium, scandium, dysprosium, praseodymium and gadolinium.

Minampro has the necessary licenses for the buying, selling and exporting of industrial sands containing various metals, including tantalum and niobium. Furthermore, Minampro has an exclusive purchase agreement for industrial sands (tantalum ore) with the indigenous community Guacamayas-Maipore, located in the department of Vichada. The key properties are located within 100 kilometres from an airport and are accessible by roads. 

Vichada is a vast, flat, sparsely populated region of Colombia bordering Venezuela to the East, and part of the Orinoco river watershed. Though geographically it is one of the largest departments in Colombia, it has an entire population barely exceeding 100,000 people. In addition to the Guacamayas-Maipore, it is home to 5 other recognized indigenous communities.

In 2019, Auxico conducted an exploration and sampling program on properties located in this area. Mr. Miguel Jaramillo, an independent geologist, supervised the work and submitted a report about the results obtained in the sampling program to Auxico. The program confirmed the presence of tantalum and niobium, as well as various rare earths including: ytterbium, hafnium, neodymium, scandium, dysprosium, praseodymium and gadolinium. An accredited Canadian lab conducted all analyses on the samples from these properties.

Under the terms of the MOU, Auxico has 60 days to conduct due diligence, after which the parties agree to enter into a joint venture for the properties in the department of Vichada. Auxico will have a 70% share of the net profits of the JV for committing 100% of the capital required for the exploitation of the ore sands. Minampro will retain 30% of the net profits of the JV. Auxico will also have an option to purchase 15% of the profit interest of Minampro at a price to be agreed upon.

Samples from the properties are currently being sent out to various tantalum buyers, and the company expects commercial sale to start within the next 60 days. 

Headline image by Alchemist-hp (www.pse-mendelejew.de) – Own work, FAL