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Chilean Cobalt Corp. Announces Letter of Intent for Exclusive Due Diligence and Option to Acquire Rare Earth Project in Southern Chile
Chilean Cobalt Corp. Announces Letter of Intent for Exclusive Due Diligence and Option to Acquire Rare Earth Project in Southern Chile.
About this update from Chilean Cobalt Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Chilean Cobalt Corp. Announces Letter of Intent for Exclusive Due Diligence and Option to Acquire Rare Earth Project in Southern Chile\r\n \r\n \r\n\r\n\r\nChilean Cobalt Corp. Announces Letter of Intent for Exclusive Due Diligence and Option to Acquire Rare Earth Project in Southern Chile\r\n\r\n\r\n\r\n\r\n\r\nBERWYN, PA / ACCESS Newswire / November 12, 2025 / Chilean Cobalt Corp. (OTCQB:COBA) (\"Chilean Cobalt\" or the \"Company\") is pleased to announce it has entered into a non-binding Letter of Intent with NeoRe SpA, a privately-held Chilean company (together, with its subsidiaries, \"NeoRe\"), to conduct exclusive due diligence and negotiate a definitive agreement for a proposed option to acquire up to 100% of NeoRe's rare earth project in southern Chile (the \"Project\").\r\n The Project is an ionic adsorption clay-hosted REE deposit located along the coastal belt region near Concepción, Chile, encompassing approximately 4,250 hectares. NeoRe's in-country technical team brings extensive expertise in evaluating, exploring, and developing ionic clay projects with a strong emphasis on environmental responsibility and community engagement. Historical work at the Project includes broad soil sampling and analytical programs, as well as pilot-scale downstream process testing that successfully produced a rare earth oxide concentrate.\r\n The Project is considered to have potential for near-term production, supported by its advantaged infrastructure access, simple mining and processing approach, and a phased development plan designed to minimize the Project's footprint and upfront capital requirements.\r\n Under the terms of the LOI, Chilean Cobalt will undertake a period of exclusive due diligence while completing a phased exploration program aimed at defining the Project's resource potential and assessing its economic feasibility, while evaluating downstream processing and offtake partnerships in the United States. Upon satisfactory completion of these evaluations and the negotiation of definitive terms, Chilean Cobalt will have the option to acquire 100% of the Project from NeoRe.\r\n The final agreement will include customary conditions precedent, termination rights, and a jointly developed sustainability strategy for the full development cycle of the Project, consistent with the standards expected for...