BERWYN, PA / ACCESS Newswire / June 26, 2026 / Chilean Cobalt Corp. (OTCQB:COBA) ("Chilean Cobalt" or the "Company") is pleased to provide an update on exploration, metallurgical development, engineering, permitting, and strategic partnership initiatives at the NeoRe Rare Earth Project ("NeoRe" or the "Project") in southern Chile, as the Company continues to advance an integrated development strategy focused on establishing a scalable Western supply chain for critical rare earth elements ("REE").
Through project operator, NeoRe SpA ("NeoRe"), the Company continues to advance resource definition, pilot-scale processing, engineering, permitting, and commercial development activities in support of further deployment of the Project's first Modular Extraction Plant ("MEP-1").
A significant milestone was recently achieved with the initiation of pilot plant commissioning activities and the successful production of NeoRe's first rare earth carbonate concentrate. This milestone represents an important step in validating the Project's metallurgical process flowsheet and advancing downstream processing capabilities within Chile.
In parallel, NeoRe is advancing its own rare earth separation pilot plant in Chile's Biobío region. The facility is designed to process heavy rare earth concentrate already being produced across NeoRe's project locations in the region. The NeoRe technical team has previously demonstrated the ability to produce high-purity rare earth concentrate and successfully separated REEs using solvent extraction ("SX") technology.
The rare earth separation pilot plant is expected to play an important role in establishing a Western, non-Chinese separation capability for critical heavy REEs, including yttrium, dysprosium, terbium, and others. Initial pilot plant results are anticipated towards the end of 2026.
Exploration activities continue to support NeoRe's district-scale development strategy. Drilling year-to-date has advanced to over 1,800 meters through two parallel drilling programs. Target screening and evaluation activities are currently underway across several prospective area in the district's three main clusters.
In addition, Chilean Cobalt and NeoRe continue to engage with potential strategic partners in the United States regarding future processing, separation, and offtake opportunities. These discussions are intended to support the development of a secure and diversified supply chain for REEs serving U.S. and allied markets.
"NeoRe continues to make meaningful progress across exploration, processing, engineering, and commercial development initiatives," said Duncan T. Blount, Chairman and CEO of Chilean Cobalt Corp. "The successful production of NeoRe's first rare earth carbonate concentrate, and the advancement of the rare earth separation plant represent important milestones towards an integrated REE platform capable of supplying critical materials outside of China. At the same time, our ongoing discussions with potential strategic partners in the U.S. reflect growing interest in developing secure supply chains for these essential minerals, and NeoRe's production of concentrate material now allows for test shipment to potential processing partners and offtakers."