NeoTerrex Minerals: New Assay Results at Galactic Reveal High Concentrations of Zirconium and Tantalum, Key Elements to the Nuclear Energy Industry

Ottawa, December 6, 2024 - NeoTerrex Minerals Inc. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to announce additional results from its surface exploration program at the Galactic project, located in eastern Quebec.

Highlights

• 38 critical minerals occurrences discovered since June 2024

• Minerals key to nuclear industry, military, robotics and green energy sectors

• Zirconium assay results among highest recorded in the province (9.5% Zr)

• Numerous Tantalum, Dysprosium, Neodymium and Niobium occurrences

Grab samples collected from outcrops and boulders during the Company's summer exploration program at the Galactic project indicate that in addition to containing high concentrations of Niobium ("Nb"), Neodymium ("Nd") and Dysprosium (see August 22^nd, 2024 news release) the area also hosts large concentrations of the critical minerals Zirconium ("Zr") and Tantalum ("Ta"). An updated map and table of best results which meet the occurrence thresholds established by the Quebec ministry is provided below.

Galactic Project

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Table 1: List of new discoveries. Nb, Ta, Dy, Nd and Zr in grab samples

Mathieu Stephens, President and CEO for NeoTerrex commented: "A review of the data collected this past summer along with the new assay results paints a clearer picture and magnitude of what our geologists have uncovered. The fact that 20% of the samples collected in a 5 square-kilometre area contain high concentrations of these critical minerals is quite remarkable and goes to show that follow-up work is required here. In addition, the Zirconium values are amongst the highest in Quebec and are comparable to those encountered at the Strange Lake and Crater Lake projects, which are located much further away from any infrastructure, unlike our Galactic project."

Demand for these critical minerals is expected to grow substantially over the next few years due to their critical role in various key the industries. The unique properties of Zirconium make it ideal for use in nuclear reactors as a cladding material for Uranium rods, where it serves as a barrier between the radioactive uranium or plutonium fuel and the reactor coolant. Niobium is a key component in the aerospace and defense industries, where it enhances the performance of jet engines and rockets. It is also indispensable in advanced scientific and medical technologies, such as superconducting magnets used in MRI machines. Dysprosium and Neodymium are essential for advanced technologies, particularly in clean energy and defense, most notably wind turbines, electric vehicle motors, precision-guided missiles and aircraft systems. With the limited global supply concentrated in a few countries, securing access to these critical minerals is crucial for technological innovation, energy transitions, and national security.

The Galactic project, spanning 11,156 hectares, is located 50 kilometres northwest of the major mining port of Sept-Îles, Quebec and within 35 kilometres of highway access and electricity. NeoTerrex geologists had identified the area as having excellent potential for discovery due to the presence of a peralkaline granitic complex, a common environment for significant critical mineral deposits.

The Galactic project was mostly explored in the 1970s when Niobium was first discovered. It has since remained relatively unexplored until NeoTerrex completed a 3-week, helicopter-assisted exploration program in June 2024 which focused on the southwestern portion of the project where bedrock exposure seemed more prevalent. 200 grab samples were taken over an area covering approximately 2,150 hectares.

Mineralization is principally associated with swarms of syenitic and pegmatitic dykes within larger intrusives or gneiss. The dykes contain various exotic minerals that could not be identified in the field. Mineralogy studies are underway to determine the nature of the minerals observed. The reader is cautioned that grab samples are selective samples and may not necessarily be representative of the mineralization hosted on the Galactic project.

Management prioritizes local involvement and plans to engage with nearby communities in preparation for a second phase of exploration on the multiple discoveries and the areas not yet covered.

QAQC

Analyses were performed by ALS Canada Ltd. with the analytical procedure performed in Vancouver (BC). All samples were analyzed using the method ME-MS89L. Ce, Dy, La, Nd, Pr and Y were used for monitoring the analyses.

A total of 10 blanks and 10 certified reference materials (CRMs) with known grades (OREAS 463) were inserted among the samples for an insertion rate of 9.6%. Rare earth element concentrations were provided from a lithium borate fusion with ICP-MS analysis (ME-ICP81 and ME-MS89L).

Valour Project

Drilling is ongoing at the Valour project with approximately half the drill holes having been completed to date (refer to November 20, 2024 news release). The drill program is expected to be completed before Christmas.

Qualified Persons

Technical and scientific aspects of this news release have been reviewed, verified, and approved by Mathieu Stephens, P.Geo., President and CEO of NeoTerrex, the Qualified Person, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About NeoTerrex

The Company is currently advancing its prospective critical minerals projects located in the province of Quebec with the majority of its projects located within or near areas with excellent infrastructure. NeoTerrex is positioning itself to capitalize on the growing critical minerals sector in North America with the exploration and development of new deposits.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to NeoTerrex's future plans, objectives or goals regarding the follow up work at Galactic and the drill program at Valour. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca.

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