GéoMégA Subsidiary Innord Succesfully Separates Nd and Dy from Magnet Residues

MONTREAL, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“GéoMégA” or the “Corporation”) (TSX.V: GMA) is pleased to announce that Innord Inc. (“Innord”), a private subsidiary controlled by GéoMégA, has successfully separated Neodymium oxide (Nd₂O₃) and Dysprosium oxide (Dy₂O₃) using the ISR technology from magnetic residues after removing other impurities such as iron, cobalt, nickel, boron and other minor metals.

Recoveries of Dysprosium per single run range between 60% and 85% and keep improving as the technology advances. Dysprosium that is not recovered in the first separation run, is not lost but is recirculated back to the process.

The key parameter to look at when comparing ISR versus solvent extraction (SX) is the separation factor (SF) between two separating elements which quantifies readiness and efficiency of a single stage of separation. In the case of Nd and Dy, the SF in SX is reported between 22 and 42 while ISR technology shows a consistent SF of around 30 (see Table 1). The higher the SF, the smaller the number of repetitions is required to attain a certain purity which makes the technology more cost effective. Additional work continues to further increase the SF and current indications are positive.

“Since April 2018, the main objective in the ISR technology development was to purify Dysprosium from Neodymium and other impurities in a cost-efficient manner. To achieve that, we focused on increasing the separation factor. Any developing separation technology can purify Dy and Nd but doing it in just a few steps in high concentrations and in an environmentally sustainable and scalable way, is now a key selling point of the ISR technology. Now that we are comfortable with purifying the key rare earths out of magnetic residues up to magnet purity oxides, we believe ISR is the missing link to bringing circular economy to the permanent magnet industry outside of China. We will be working with the various sections of the supply chain to make this circular economy a reality.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.

All the sample analyses have been performed internally by Innord Inc. using ICP-OES.

All the experiments and the technology development have been conducted and supervised by Dr. Pouya Hajiani (PhD Chemical Engineering), CTO of GéoMégA and he approves the technical information in this press release.

About GéoMégA (www.geomega.ca)
GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders’ engagement and dedication to local transformation benefits.

About Innord Inc.
Innord is a private subsidiary of GéoMégA of which GéoMégA owns 96.1%. The goal of Innord Inc. is to develop and optimize the proprietary separation process of rare earth elements based on electrophoresis, for which it holds all the rights. Electrophoresis is the migration of charged species (ions, proteins, particles) in solution in the presence of an electric field. Innord has filed patents in Canada and the United States to protect its novel separation process and is looking to file in other jurisdictions.

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Cautions Regarding Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2018, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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