St George Mining Limited has updated the Mineral Resource Estimate for its 100%-owned Araxá Project in Minas Gerais, Brazil, increasing total tonnage by 57% to 111.2 million tonnes at 3.57% total rare earth oxides and 0.57% niobium pentoxide.

The August 2026 upgrade includes a 155% increase in higher-confidence Measured and Indicated resources, which now reach 75.2 million tonnes at 3.64% total rare earth oxides and 0.58% niobium pentoxide, up from 29.49 million tonnes previously.

Modelled by SRK Consulting Pty Ltd using a 2% total rare earth oxide cut-off, the revised estimate elevates Measured and Indicated categories to approximately 68% of the total resource. The deposit contains 3.98 million tonnes of total rare earth oxides, including 760,000 tonnes of contained neodymium-praseodymium oxides, alongside 630,000 tonnes of niobium pentoxide.

St George extended its strategic downstream alliance with US-based REalloys in January 2026 to evaluate potential offtake arrangements and processing flowsheet optimisation for Araxá rare earths.

“Our Araxá MRE now compares even more favourably in scale and grade to the two largest producing rare earths mines outside of China - the Mountain Pass mine of MP Materials (NYSE: MP) and the Mt Weld mine of Lynas Rare Earths (ASX: LYC) - both of which have the same carbonatite-hosted style of mineralisation as our Araxá deposit.”

— John Prineas, Executive Chairman

The entire resource sits within approximately 120 metres of the surface inside a weathered profile, which is expected to support potential open-pit mining methods. Economic studies and potential mine planning are currently underway at the project in conjunction with feasibility technical adviser Worley, supported by the expanded higher-confidence tonnage.

Meanwhile, St George is operating five diamond rigs 24/7 at the East Araxá discovery, with a maiden resource estimate scheduled for delivery in the fourth quarter of 2026. Nearby explorer Oceana Metals Limited reported high-grade rare earth element intercepts, including 50m @ 4.0% TREO, at its Serra Negra project within the surrounding district in July 2026.

Read the full announcement: 155% Increase in Measured & Indicated Araxa Resource