REalloys has signed a non-binding Letter of Intent with Patriot Exploration & Mining, LLC ("Patriot"), a U.S.-based rare earth exploration and development company with access to a reported 2 billion metric tons of above-ground, rare earth element-bearing material across more than 150 tested sites spanning the Appalachian Basin from Alabama to Pennsylvania — establishing a framework for REalloys to secure priority access to up to approximately 30% of Patriot's rare earth production.
Patriot's feedstock includes the priority magnet metals central to REalloys' midstream platform, neodymium, dysprosium, praseodymium, and terbium
Under the LOI, the parties will conduct metallurgical test work on Patriot's rare earth materials and complete bench-scale and pilot-scale validation to confirm compatibility with REalloys' processing platform.

EUCLID, Ohio, June 04, 2026 (GLOBE NEWSWIRE) -- REalloys Inc. (NASDAQ:ALOY) ("REalloys" or the "Company"), a U.S.-based mine-to-magnet company and developer of North America's commercial-scale heavy rare earth processing and metallization solution, today announced the signing of a non-binding Letter of Intent ("LOI") with Patriot Exploration & Mining, LLC ("Patriot"). Patriot is a U.S.-based rare earth exploration and development company with an aligned mission to unlock domestic reserves of rare earth elements and strategic minerals, and reported access to 2 billion metric tons of above-ground, rare earth element-bearing material across more than 150 tested Appalachian Basin sites, spanning from Alabama to Pennsylvania, and containing over 40 U.S.-designated critical minerals including neodymium, dysprosium, praseodymium, and terbium.

The LOI establishes a framework under which REalloys could have priority access and preferential allocation rights to up to approximately 30% of the rare earth products produced from Patriot's U.S. operations, subject to the negotiation and execution of a definitive long-term offtake agreement.

In alignment with REalloys' strategy to build a diversified, allied feedstock network to supply North America's most advanced defense-grade rare earth midstream platform, Patriot's above-ground, fully domestic brownfield resource base aims to deliver defense-grade rare earth material that REalloys' processing infrastructure is designed to separate, refine, and metallize.

The LOI is the latest in a series of upstream supply relationships REalloys has established as it establishes a fully compliant, zero-adversary-nexus feedstock network ahead of the January 2027 statutory prohibition under 10 U.S.C. §4872 and DFARS 252.225-7052. REalloys' growing allied supply portfolio currently spans multiple geographies and resource types, including feedstock relationships in the U.S., Brazil, Kazakhstan, and Greenland, alongside its foundational Hoidas Lake asset in Saskatchewan, Canada, which the Company believes positions it to process defense-grade rare earth materials from a resilient, geographically diversified upstream base.

The non-binding LOI complements the Company's feedstock partnerships, specifically strategic partnerships focused on brownfield-sourced rare earth element feedstocks, such as the partnership announced on January 6, 2026, with Mission Critical Materials LLC, to recover heavy and light rare earths from acid mine drainage. The Company believes that each agreement adds a distinct, non-overlapping source of optionality for REalloys to work to secure domestic feedstock for its single integrated U.S. processing, metallization, and magnet-manufacturing solution.

"The defense industrial base has a 2027 deadline and a supply chain gap that REalloys intends to resolve. With Patriot, we believe we will be able to add upon a definitive offtake agreement, another fully domestic, zero-adversary feedstock source to our processing network. Every upstream relationship we establish translates directly into our ability to deliver at the downstream level: on time, at scale, and fully compliant with the procurement requirements slated to take effect next year," said Lipi Sternheim, Chief Executive Officer of REalloys.

"REalloys brings exactly the downstream infrastructure and government engagement capabilities that Patriot has been looking for in a long-term strategic partner. Their proven processing platform, their relationships across the Defense Industrial Base, and their commitment to a fully domestic, zero-adversary supply chain align precisely with what we are building at Patriot. This non-binding LOI is the first step toward a long-term commercial relationship that serves U.S. national security and industrial interests, "said Sean Williams, Partner at Patriot Exploration & Mining, LLC.

"REalloys is assembling the infrastructure that North America has lacked for a generation: a vertically integrated, sovereign rare earth supply chain built from the ground up with no foreign adversary exposure at any stage. Patriot is exactly the kind of domestic upstream partner this architecture requires. Patriot's focus on U.S.-origin deposits brings unconventional resource types that meaningfully expand our feedstock base. This LOI advances our mission not just for 2027, but for the enduring industrial sovereignty the United States needs to lead in advanced technology and defense," said Stephen duMont, Chairman of REalloys.

About REalloys Inc.

REalloys Inc. is advancing a fully integrated North American mine-to-magnet supply chain encompassing upstream resource development, midstream processing, and downstream manufacturing. REalloys' upstream foundation includes its Hoidas Lake rare-earth asset in Saskatchewan and a diversified network of allied feedstock and recycling partners. Together with the Saskatchewan Research Council, REalloys is funding and contracting the scale-up of North American heavy rare earth midstream separation, refining, and metallization capabilities — securing exclusive access to the commercial output to supply its downstream manufacturing operations in Euclid, Ohio. REalloys' Ohio facility serves federal logistics and procurement agencies supporting the Department of Defense, the Department of Energy, and the National Aeronautics and Space Administration, in addition to the broader Defense Industrial Base and Organic Industrial Base.

About Patriot Exploration & Mining, LLC

Patriot Exploration & Mining, LLC is a U.S.-based rare earth exploration and development company with access to a reported 2 billion metric tons of above-ground, rare earth element-bearing material across more than 150 tested sites spanning the Appalachian Basin from Alabama to Pennsylvania. Patriot's resource base contains 40+ U.S.-designated critical minerals, including the priority magnet metals neodymium, dysprosium, praseodymium, and terbium. The company's technology partner refines output to 95–99% purity as element-separated oxides, and its flagship Southwest Virginia property comprises 30 million tons of brownfield rare earth element feedstock with Norfolk Southern rail access and a 400 TPH wash plant. Patriot's technical program is led by Dr. Perry Queener, a four-patent holder and federal advisory board appointee, with NI 43-101 resource definition underway across all tested properties under world-class geologist Mark Slatten. For more information, visit www.patriotxmine.com.

Safe Harbor Clause And Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding: the anticipated terms, timeline, structure, negotiation and execution of a definitive offtake agreement with Patriot on terms favorable to the Company or at all; the strategic and commercial benefits of the non-binding LOI; the anticipated volumes, product specifications, pricing, delivery schedules of any offtake, commercial terms of any future offtake arrangements; REalloys' ability to secure compliant domestic and allied feedstock on acceptable terms; Patriot's ability to develop its projects, achieve targeted production timelines, deliver feedstock meeting REalloys' TREO and purity specifications, and obtain necessary permits and authorizations; the expected commissioning and operational timeline of REalloys' SRC Saskatoon separation facility and its Euclid, Ohio metallization operations; REalloys' ability to develop, construct, and operate its Phase 2 Rare Earth Processing Facility on anticipated timelines and budgets; the scope, status, and expected outcomes of REalloys' feedstock relationships in Brazil, Kazakhstan,Greenland, and other jurisdictions; REalloys' ability to maintain and expand its allied feedstock network; the availability and terms of U.S. federal financing, procurement programs, tax credits, and government grants, including DOE Title XVII loan guarantees, DPA Title III awards, EXIM Bank financing, IRA-related programs, and DLA strategic stockpile contracts; the anticipated impact of 10 U.S.C. §4872, DFARS 252.225-7052, and related regulatory requirements on domestic rare earth demand; the Company's ability to achieve and maintain compliance with Title 50 and related defense procurement requirements; the Company's ability to serve the Defense Industrial Base, the Department of Defense, the Department of Energy, and NASA; and each party's respective strategic, operational, financial, and capital plans.

Forward-looking statements are based on current expectations, estimates, and projections and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including but not limited to: the parties' ability to negotiate and execute a definitive agreement on acceptable terms within the stated timeframe; the non-binding nature of the LOI and the absence of any obligation on either party to consummate a transaction; Patriot's ability to develop its resource base, achieve commercial production, and deliver feedstock meeting required specifications; risks related to resource estimates, recovery rates, and metallurgical test results; the uncertainty of NI 43-101 resource reports in progress; the ability to obtain and maintain required environmental, mining, and operational permits; changes in rare earth commodity prices and market indices; changes in U.S. trade, tariff, defense procurement, and critical minerals policy; the timing and availability of government financing, grants, and procurement contracts; risks related to international feedstock relationships, including political, regulatory, and logistical risks in foreign jurisdictions; REalloys' ability to finance, construct, commission, and operate its processing facilities on expected timelines and within budget; competition from other rare earth processors, suppliers, and integrated platforms; technological risks associated with separation, refining, and metallization processes; risks related to the Company's dependence on key facilities, partners, and contractual relationships; general economic, market, and geopolitical conditions; and the other risk factors described in REalloys' filings with the Securities and Exchange Commission.

All forward-looking statements speak only as of the date of this press release. REalloys undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. For additional risk factors, please refer to REalloys' Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission, available at www.sec.gov.

Disclosure Information

REalloys uses and intends to continue using its investor website at www.realloys.com as a means of disclosing material non-public information and for complying with Regulation FD. Investors should monitor this site, along with the Company's press releases, SEC filings, public conference calls, and webcasts.

REalloys Inc.

Sarah Riley

IR and Communications, REalloys

sarah.riley@realloys.com

www.realloys.com

REalloys Signs Letter of Intent with Patriot Exploration & Mining