Aclara Announces Resignation of Officer

TORONTO, March 31, 2023 - Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) announces that Rodrigo Ceballos has tendered his resignation from the position of President and General Manager of the Company to pursue another opportunity. The Company has already made significant progress in its search for a qualified candidate to succeed Mr. Ceballos and will provide further information as it becomes available.

Ramón Barúa, Chief Executive Officer of Aclara, said, "We thank Rodrigo for his service and many accomplishments during his tenure as General Manager. We will always be grateful for his leadership at a critical juncture in the Company's history. We wish Rodrigo the very best in his future endeavors."

About Aclara

Aclara Resources is a Rare Earths company with a development project in Chile, and is listed on the TSX (TSX:ARA).

Aclara is initiating the development of its resources through a project called the Penco Module, which covers a surface area of approximately 600 hectares, and which hosts ionic clays rich in rare earth elements. Aclara is currently focused on the development and future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's extraction process offers several environmentally positive attributes such as: no blasting, crushing, or milling; no tailings facility; minimal water consumption due to a high level of water recirculation; is amenable to leaching with a fertilizer; and contains no radioactivity. In parallel with the development of the Penco Module, the Company intends to define additional opportunities to increase potential future rare earth element production via intensive greenfield exploration programmes and the development of additional project "modules" within the Company's concessions.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to, among other things, management's expectations as a result of the resignation of the Officer. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 28, 2023 filed on the Company's SEDAR profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

For further information, please contact:

Ramon Barúa
Chief Executive Officer
investorrelations@aclara-re.com

SOURCE: Aclara Resources Inc.