MDL Medallion Resources Ltd

Medallion Resources Ltd. (TSX VENTURE:MDL)(OTCQX:MLLOF) ("Medallion" or the
"Company") is pleased to provide an update of recent Company developments. 


In support of Medallion's strategy of locating its proposed large-scale,
rare-earth-processing facility within the Middle Eastern Gulf States, the
Company continues to negotiate financing and investment terms with a number of
interested sovereign-related parties, who want to locate the facility at a
suitable industrial site within their jurisdictions. 


"While we're very pleased with the strong interest from various parties, we're
disappointed that this step has taken longer than expected; however, we remain
confident that an agreement can soon be achieved," said Dr Bill Bird, Medallion
Chairman and CEO. "In the rare-earth business, developing a sound economic
approach to production is difficult and time consuming. Those that are
attempting to advance complex projects using untried technology, and the
investing interests that follow them, are coming to realize just how difficult
and time-consuming this can be. We, at Medallion, are convinced that our
monazite-processing strategy, which relies upon commercially-proven technology
to process readily available high-grade monazite, is the ultimate solution to
the non-Chinese world's need for low-cost, low-risk supplies of rare-earth
products."


Constructive discussions also continue with heavy-mineral-sands producers that
have sufficient monazite resources to supply Medallion's targeted initial
rare-earth-oxide production of 10,000 tonnes per annum. These discussions have
advanced beyond the supply of monazite to include potential partnerships, or
some other form of participation, in the processing of the monazite.


Medallion's planned production strategy is to exploit available supplies of
monazite, a rare-earth phosphate mineral with a proven, metallurgical extraction
process that has successfully produced commercial rare-earth products for over
100 years. Monazite is currently produced as a by-product of heavy-mineral-sands
mines, which are large-scale titanium and zircon operations generally located in
Australia, South Asia and Africa. 


A rare-earth processing facility, located within the Gulf States, offers
proximity to the majority of the world's monazite resources, access to
world-class ports and industrial infrastructure, availability of low-cost
chemicals, gas and power, and the support of industry-friendly jurisdictions.
These critical success factors, combined with the region's proven capability to
fund strategic industrial ventures, support the Company's initiative to locate
its proposed rare-earth processing facility in this region. 


About Medallion Resources Ltd. 

Medallion is rethinking rare earths. Headed by Dr. Bill Bird and supported by an
experienced technical team, the Company believes it is well positioned to
identify and exploit the world's most promising rare-earth opportunities.
Medallion's strategy is to target large deposits amenable to straightforward
low-cost mining and metallurgical processes that lead to near-term, rare-earth
production and long-term, low-cost supply. Rare earths are used in critical
components for virtually all computing and mobile electronic products, as well
as wind turbines, electric and hybrid vehicles and strategic defense systems.
Medallion is committed to following best practices and accepted international
standards in all aspects of mining, mineral processing and the safe management
of waste materials. More about Medallion (TSX
VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD) can be found at
www.medallionresources.com.


Medallion management has prepared this news release and takes full
responsibility for content. Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that describe
Medallion's future exploration, production and financing plans, objectives or
goals, including words to the effect that Medallion or management expects a
stated condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results in each case could differ materially from
those currently anticipated in these statements. Such risks include expectations
that may be raised by discussing potential business, acquisitions or development
plans. Also, in order to proceed with Medallion's plans, additional funding will
be necessary and, depending on market conditions, this funding may not be
forthcoming on a schedule or on terms that facilitate Medallion's plans.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medallion Resources Ltd.
Donald Lay
President
1.604.681.9558
info@medallionresources.com
www.medallionresources.com


Hamza Thindal Capital Corp.
Kam Thindal
Partner
+1.888.371.9098
kam@htcapitalcorp.com

Grafico Azioni Medallion Resources (TSXV:MDL)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Medallion Resources (TSXV:MDL)
Storico
Da Giu 2023 a Giu 2024