# Avalon Announces Updated Mineral Resource Estimate for Nechalacho Basal Zone, Revalidating Scale and Economic Development Potential of a Large, North American Source of Light and Heavy Rare Earth Elements Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c Original source: https://money.tmx.com/en/quote/AVL/news/5320061128703346/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev Publisher: tmx Original announcement: 2026-08-06T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Avalon Advanced Materials Inc. - Ticker: AVL - Exchange: TSX - Region: Northwest Territories - Primary commodity: Rare earth elements - Secondary commodities: Lanthanum, Cerium, Praseodymium, Neodymium, Samarium, Europium, Gadolinium, Terbium, Dysprosium, Holmium, Erbium, Thulium, Ytterbium, Lutetium, Yttrium, Zirconium, Niobium, Tantalum - Document categories: Resource update - Extracted: 2026-08-20 18:51:01 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Avalon Advanced Materials Inc. has announced an updated Mineral Resource Estimate for its Nechalacho Basal Zone, revalidating the project's scale and economic development potential. The estimate, prepared in accordance with S-K 1300, includes 58.6 million tonnes of Measured and Indicated resources grading 1.49% TREO, plus 130.6 million tonnes of Inferred resources grading 1.31% TREO. This update establishes a current technical and economic foundation for the project, emphasizing its significant content of magnet-critical rare earth elements and other critical minerals. Reasoning: The updated Mineral Resource Estimate for the Nechalacho Basal Zone revalidates the project's scale and economic potential, providing a current technical and economic framework compliant with S-K 1300, and highlights significant resources of magnet-critical rare earth elements and other critical minerals. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Significant M&I Resources - Positive factor: Large Inferred Resource - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals - Positive factor: Supports PEA/DFS - Negative factor: High Inferred Component - Negative factor: Historical Reserves Not Carried Forward Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 80 ## Classification and evidence **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The updated MRE includes 10.3 million tonnes classified as Measured resources. Evidence · text > 10.3 million tonnes classified as Measured **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The updated MRE includes 48.3 million tonnes classified as Indicated resources. Evidence · text > 48.3 million tonnes classified as Indicated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Micon International Limited serves as the independent Qualified Person for the estimate, with Tudorel Ciuculescu, P.Geo., and Richard Gowans, P.Eng., named as Qualified Persons. Evidence · text > Micon also serves as the independent Qualified Person for the estimate. The S-K 1300 Technical Report for the updated 2026 Rare Earth Element Mineral Resource Estimate on Nechalacho was prepared by Tudorel Ciuculescu, P.Geo., and Richard Gowans, P.Eng., of Micon International Limited. Both Mr. Ciuculescu and Mr. Gowans are "Qualified Persons" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The mineral resource estimate was determined using an NMR cut-off value of US$366.40/t. Evidence · text > an NMR cut-off value of US$366.40/t **S-K 1300 Compliant** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The MRE was prepared in accordance with Subpart 1300 of Regulation S-K. Evidence · text > prepared in accordance with Subpart 1300 of Regulation S-K **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The updated MRE includes 130.6 million tonnes of Inferred resources. Evidence · text > 130.6 million tonnes of Inferred resources **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: Historical mineral reserves from the 2013 DFS are not being treated as current under S-K 1300 and have not been carried forward into the updated 2026 MRE. Evidence · text > Those historical mineral reserves are not being treated as current mineral reserves under S-K 1300 and have therefore not been carried forward into the updated 2026 MRE. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an 'Updated Mineral Resource Estimate' for the Nechalacho Basal Zone. Evidence · text > Updated Mineral Resource Estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: Avalon is currently advancing a Preliminary Economic Analysis \('PEA'\) based on the updated resource. Evidence · text > advancing a Preliminary Economic Analysis \("PEA"\) based on the updated resource **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: Subject to the results of the PEA, Avalon expects to advance Nechalacho toward subsequent definitive feasibility-level work. Evidence · text > Avalon expects to advance Nechalacho toward subsequent definitive feasibility-level work ## Extracted facts Stored fact records: 80. Some facts used in scoring do not have a stored record. ## Resource Estimates (80) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-0) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 1.52 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.52% Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-1) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 2.79 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 2.79% Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-2) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.36 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.36% Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-3) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.03% Context: 10.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-4) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 1.49 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.49% Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-5) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 2.69 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 2.69% Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-6) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.35 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.35% Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-7) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.03% Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-8) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 1.49 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.49 % Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-9) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 2.74 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 2.74 % Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-10) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.35 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.35 % Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-11) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.03 % Context: 58.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-12) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 1.31 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.31% Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-13) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 2.43 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 2.43% Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-14) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.34 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.34% Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-15) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.03% Context: 130.6 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-16) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 1.517 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.517 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-17) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.246 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.246 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-18) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.573 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.573 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-19) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.070 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-20) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.267 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.267 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-21) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.058 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.058 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-22) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.007 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.007 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-23) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.049 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.049 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-24) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.007 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.007 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-25) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.037 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.037 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-26) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.006 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.006 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-27) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.016 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.016 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-28) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-29) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.013 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.013 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-30) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 10.3 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-31) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Ticker: AVL #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.162 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.162 Context: 10.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-32) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 1.489 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.489 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-33) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.241 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.241 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-34) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.561 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.561 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-35) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.069 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.069 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-36) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.263 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.263 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-37) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.057 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.057 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-38) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.007 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.007 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-39) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.049 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.049 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-40) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.007 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.007 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-41) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.037 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.037 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-42) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.006 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.006 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-43) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.016 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.016 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-44) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-45) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.012 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.012 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-46) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-47) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.159 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.159 Context: 48.3 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-48) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 1.494 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.494 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-49) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.242 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.242 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-50) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.563 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.563 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-51) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.069 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.069 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-52) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.264 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.264 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-53) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.057 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.057 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-54) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.007 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.007 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-55) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.049 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.049 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-56) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.007 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.007 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-57) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.037 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.037 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-58) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.006 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.006 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-59) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.016 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.016 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-60) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-61) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.013 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.013 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-62) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 58.6 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-63) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Ticker: AVL #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.159 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.159 Context: 58.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-64) Nechalacho Basal Zone · total rare earth oxides #### Identity - Project: Nechalacho Basal Zone - Commodity: total rare earth oxides - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 1.306 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 1.306 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-65) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.216 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.216 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-66) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.51 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.510 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-67) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.063 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.063 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-68) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.241 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.241 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-69) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.049 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.049 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-70) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.006 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.006 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-71) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.041 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.041 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-72) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.006 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.006 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-73) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.028 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.028 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-74) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.005 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.005 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-75) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.011 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.011 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-76) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.002 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.002 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-77) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.009 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.009 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-78) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.001 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.001 Context: 130.6 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--1c5ccfc4-dd02-4727-a0e6-a41cfd70be5c#fact-resource-facts-79) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Ticker: AVL #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.117 - Grade Unit: % - Cutoff Grade: 366.4 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The updated Mineral Resource Estimate provides a current technical and economic framework for the project, compliant with S-K 1300, and highlights significant resources of critical rare earth elements. - Positive factor: Updated MRE - Positive factor: S-K 1300 Compliant - Positive factor: QP Signed - Positive factor: Magnet-Critical REEs - Positive factor: Broad Suite of REEs - Positive factor: Includes Other Critical Minerals Evidence · table > 0.117 Context: 130.6 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.