Medallion Completes Diagnostic Testing with Australian Nuclear Science and Technology Organization

Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) “Medallion” or the “Company”) announces completion of a suite of diagnostic test work at the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney, to extract rare earth elements (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Discussion is ongoing with additional prospective suppliers.

Mineral sand monazite is an abundant REE-rich feedstock, that can be accessed as a by-product from global mineral-sand mines that target zirconium and titanium, without the need for additional mining. Medallion’s business model is centered on the Medallion Monazite Process , a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value REEs with high efficiency, high recovery and zero liquid waste.

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Medallion Commences Techno-Economic Assessment of Proprietary Rare-Earth Element Extraction Process  

Medallion Resources Ltd. (TSX-V: MDL; OTC QB : MLLOF; Frankfurt: MRDN) “Medallion” or the “Company”) is pleased to announce the engagement of Simulus Engineers an independent Australian engineering consultancy firm, to complete a techno-economic assessment of the Medallion Monazite Process . This proprietary process sustainably extracts rare-earth elements (REE) from mineral sand monazite, which is a widely available and REE-rich by-product from mineral sand mining operations within the US and globally.

The techno-economic assessment (TEA) will aggregate results from extensive laboratory test work, process simulation and trade-off studies completed by Medallion over the past 5 years. The TEA will deliver commercial capital and operating cost estimates for an extraction facility that processes 7,000 tonnes per year of monazite feedstock and delivers approximately 2,300 tonnes of cerium-depleted high-value REE products plus additional phosphate co-product. Completion of the TEA is expected in the first quarter of 2021.

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