Aclara Announces Appointment of New Directors

TORONTO, February 22, 2024 - Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce the appointment of Joao Miranda and Jorge Born to Aclara's board of directors (the "Board"), following a unanimous approval by the members of the Board.

Eduardo Hochschild, Chairman of Aclara, commented: "We are very excited to welcome Joao and Jorge to the Aclara Board, two distinguished professionals with extensive experience in Brazil, who share our commitment to producing world-changing minerals under the most sustainable and responsible standards. With the recent announcement of the positive preliminary economic assessment of the Carina project in Goias, the Company requires a strengthened approach in Brazil, and both Joao and Jorge bring extensive in-country experience, a significant network of contacts and in-depth knowledge of the local business environment. Their contribution will be invaluable as Aclara aims to become the world's cleanest producer of rare earths."

Mr. Miranda served as CEO of the Votorantim Group for over six years until May 2020, and as CFO for nearly five years prior to that. During his tenure, he also served as a Board Member of several companies within the Votorantim group, such as Fibria, Nexa, Citrosuco, Companhia Brasileira de Alumínio, and Votorantim Cimentos, where he chaired the Board for over two years. Before his time at Votorantim, Mr. Miranda held executive positions at Citibank, where he was CEO of the Chilean operations for two years and Vice President of Global Banking in Brazil for another two years. He also served as an executive director at ING bank. Currently, Mr. Miranda holds a position as a Board Member of Fundação Parceiros da Educação, a Brazilian nonprofit organization that supports education for students in socially vulnerable contexts.

Mr. Born worked at Bunge, a global leader in agribusiness headquartered in Brazil until 2001, for over 30 years, holding various positions, including CEO and board member for over 10 years. During his last 12 years with Bunge, from 2001 to 2013, Mr. Born served as the Deputy Chairman and Lead Independent Director, chairing the central risk and finance management committee of the board of directors. Mr. Born is also the founder and Executive President of Consult y Asociados S.A., a private M&A boutique company focused on developing opportunities with multinational companies in Argentina, Uruguay and Paraguay. From 2010 to 2022, Mr. Born was a Board Member and chair of all the Board committees of Dufry Group, a leading global retailer. In addition, Mr. Born has served as a non-executive director at Hochschild Mining plc since 2006 and has been a Board Member of Caldenes Agropecuaria from 1997 to 2020. Additionally, he has been the chairman of Fundación Bunge and Born, an Argentinian NGO, since 2007. He also served as a member of the Latin America's Board of the Wharton School of the University of Pennsylvania and Georgetown University, and as a member of the Board of Governors of Wharton's Lauder Institute.

About Aclara

Aclara Resources Inc. (TSX:ARA) is a development-stage company that focuses on heavy rare earth mineral resources hosted in Ion-Adsorption Clay deposits. The Company currently has two projects under development: the Penco Module in the Bio-Bio Region of Chile, and the Carina Project in the State of Goiás, Brazil.

Aclara's REE extraction process offers several environmentally attractive features. It does not involve blasting, crushing, or milling, and therefore does not generate tailings, thus eliminating the need for a tailings storage facility. The extraction process developed by Aclara minimizes water consumption through high levels of water recirculation made possible by the inclusion of a water treatment facility within its patented process design. The ionic clay feedstock is amenable to leaching with a common fertilizer, ammonium sulfate. Further, harmful levels of radionuclides, typical of hard rock rare earth deposits, are not concentrated within the Aclara flowsheet.

Simultaneously, alongside the development of the Carina and Penco projects, the Company intends to identify and evaluate further opportunities to increase future production of heavy REEs. This will involve greenfield exploration programs and the development of additional projects within the Company's concessions in Brazil, Chile, and Peru.

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, the Company's expectations as a result of changes to the Board of the Directors. 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, timing, performance, achievements or future events or developments could differ materially from those expressed or implied 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 Barua
Chief Executive Officer
investorrelations@aclara-re.com

SOURCE: Aclara Resources Inc.