ACLARA PROVIDES UPDATE ON CORPORATE STRATEGY

About this update from Aclara Resources, Inc.

[{"type":"text","content":"\n \n \n \n ACLARA PROVIDES UPDATE ON CORPORATE STRATEGY\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 10, 2022\n \n \n /CNW/ - Aclara Resources Inc. (\"\n \n Aclara\n \n \" or the \"\n \n Company\n \n \") (TSX: ARA) is pleased to provide an update on its corporate strategy following the withdrawal of its application for an environmental impact assessment (\"\n \n EIA\n \n \") of the Penco Module (the \"\n \n Project\n \n \") located in\n \n Chile\n \n . The updated strategy aims to i) position the Company to deliver a more robust EIA application, ii) strengthen and expand relationships with local stakeholders, and iii) prioritize exploration activities to define new potential modules. The Company has decided to postpone the advancement of the feasibility study on the Project until it has additional clarity on the permitting process.\n \n \n \n \n \n \n \n \n \n Aclara's CEO,\n \n Ramon Barua\n \n , commented: \"We are pleased to announce a revised strategy for Aclara that will continue advancing the Project while targeting new ionic clay deposits hosted within our claims. The recent withdrawal of the EIA application is expected to result in a two-year delay to the anticipated first production date of the Project and we intend to maximize the use of that additional time. First, we will improve on our environmental baseline and refile the EIA application as soon as possible; second, we will prioritize enhancing our relationship with our local stakeholders; third, we will optimize our metallurgical process; and, last but not least, we will seek to find more ionic clays in other locations to actively pursue our goal of converting Aclara into a multi-module company. Our strategy, combined with the competitive advantage of owning an ionic clay deposit with unique characteristics, an environmentally friendly metallurgical process and the robust demand behind the coveted rare earths that our planet needs for advancing decarbonization initiatives, will provide the pillars that support Aclara as a suc...

More updates from Aclara Resources, Inc.