News Releases

Innord Develops Bauxite Residues Process Using Its Environmentally Friendly Technology

Innord Develops Bauxite Residues Process Using Its  Environmentally Friendly Technology 

Montreal, May 25, 2021 – Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX.V: GMA) (OTC:  GOMRF) a developer of clean technologies for the mining, refining and recycling of rare earths, is pleased to  announce that its wholly-owned subsidiary, Innord, has developed a bench scale process, based on its  environmentally friendly technology, to process Bauxite Residues (“BR”), a potentially valuable by-product that  is being generated during refining of alumina using the Bayer process. It has now entered a research agreement with an international industrial partner to extract rare earth elements (REE), scandium (Sc) and other critical  and potentially valuable metals from this readily available material.  

Geomega believes that BR is a perfect fit to expand Innord’s extraction technology, which had been originally  developed for rare earths extraction from various feeds including, but not limited to, recycled magnets and  potential ore from Geomega’s Montviel REE deposit in Quebec. Drawing from the strengths and versatility of its  technology, Innord had been seeking to identify large industrial and mining waste challenges with the following  characteristics: 

• High iron (Fe) content – in BR >40% Fe2O3 
• Loss of critical and strategic metals in the tailings (rare earth elements, scandium, titanium and  vanadium) 
• Need for reagents recycling and tailings volume reduction 

Relative to existing methods (less than 5% of global BR is being used today) and contrary to previously developed  metallurgical approaches that either only displace the environmental impact towards effluents and/or other  residues, provide insufficient volume reduction or have limited economic viability, Innord’s process potentially  offers the following benefits: 

• Significant tailings volume reduction (>80%) 
• Minimize effluents by recycling the main reagents, which would in turn reduce operating costs and avoid  creating other waste streams  
• Value maximization of the available metals, thereby enhancing the economics of the process, which  include: 
.o Bulk traditional metals such as Al and Fe 
.o Strategic metal concentrates (REE, Sc, Ti, V)

While the main focus of the Company remains on the engineering studies of the demonstration plant in St Bruno (See news release January 12, 2021), Innord has been developing the flowsheet and conducted bench  scale work demonstrating the various steps of the BR process in the last 12 months. The upcoming work will  continue to test and validate the process at the bench scale in preparation for potential pilot testing, focus on  characterization of outlet streams and the techno-economical feasibility study of the technology. The industrial  partner will be contributing material for the testwork and expertise on various product stream specifications. 

Ownership of the Intellectual Property developed by Innord through this research work will remain with the  Company. With BR representing a global challenge, Innord is developing the technology with the objective to  make it available globally through a licensing / royalty structure once the technology has demonstrated its  economical and environmental feasibility on a larger scale.  

“We are thrilled to be working on such an important environmental global challenge. Aluminum, the most  produced non-ferrous metal in the world, is a key material of the 21st century for such major industries as  transportation, aviation, construction and many other sectors. In the environmentally conscious world we now  live in, local environmental regulations and social acceptability dictate that now is the time to find a solution to  BR storage. There is a tremendous economic potential benefit as well, as every tonne of BR contains between  USD $80 and USD $120 worth of critical and strategic metals that are becoming imperative to recover. We  believe that Innord’s technology is well positioned to offer economic and environmentally innovative solutions to sustainability challenges. We look forward to continue advancing the technology towards larger scale  testing.” commented Kiril Mugerman, President and CEO of Geomega. 

About Geomega (www.geomega.ca) 
Geomega develops innovative technologies for extraction and separation of rare earth elements and other  critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification,  automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all  these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and  delivering cashflow and return value to shareholders while working directly with the main players in these  industries to recycle the magnets that power all those technologies. 

As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to  help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other  critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the  environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major  reagents in the process. 

Geomega’s core project is based around the ISR Technology (Innord’s Separation of Rare Earths), a proprietary,  low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production  waste and end of life magnets profitably & safely. 

Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource  estimate in North America and holds over 16.8M shares, representing approximately 16% of the issued and  outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is exploring for  copper projects in Quebec, Canada.

For further information, please contact: 

Kiril Mugerman 
President and CEO 
Geomega 
450-641-5119 ext.5653 
kmugerman@geomega.ca 

Nancy Thompson 
Vorticom Public Relations 
212-532-2208 
nancyt@vorticom.com 

Twitter: @Geomega_REE 

Cautions Regarding Forward-Looking Statements  
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the  meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others,  statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the  foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”,  “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications  of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events  anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the  technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and  information are based on information available at the time and/or management’s good-faith belief with respect to future events and  are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the  Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors”  in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2020, which is available on SEDAR  at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking  statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward looking information or statements contained in this news release to reflect subsequent information, events or circumstances or  otherwise, except if required by applicable laws.