Medallion Resources Completes Strategic Review

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[{"type":"text","content":" VANCOUVER, British Columbia, March 30, 2023 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to announce completion of an internal strategic review of the Company’s technologies, commercial opportunities, and challenges conducted by the Company’s leadership team appointed in late 2022. Medallion’s vision is to power the energy transition through innovation in critical minerals by becoming an owner-operator of critical mineral processing facilities in partnership with upstream feedstock and downstream offtake partners. The first step towards delivering that vision is to establish a commercially-oriented magnetic rare earth evaluation facility deploying patented displacement chromatography methodologies developed by Purdue University. Medallion has exclusively licensed patented displacement chromatography methodologies, developed by Purdue University, from Purdue Research Foundation to separate minerals including rare earth elements from all raw material feed stocks excluding coal sources and excluding recycled materials from manufacturing wastes and recyclates from battery and magnet sources. In the coming weeks, Medallion expects to finalize a partnership with a highly respected technology incubator in the UK and a collaboration with a global leader in computer-aided engineering (CAE) to support the design and operation of both the initial magnetic rare earth evaluation facility and scale-up to pilot and commercial facilities. Medallion plans to use state-of-the-art CAE modeling backed by real-world verification at the evaluation facility to establish commercial magnetic rare earth processing plants that provide an essential bridge between mine and magnet, addressing the supply resilience and ESG objectives of consumer-oriented customers. Medallion and Purdue Research Foundation have recently signed an amended and restated agreement regarding the Company’s rights to use the displacement chromatography methodologies that better reflects Medallion’s strategic plan. Under the new agreement, Medallion’s planned UK-based magnetic rare earth evaluation facility will be supported by continued research at Purdue University’s Davidson School of Chemical Engineering. Medallion has committed to raise at least US$5 million over the next six months to accele...

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