# 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-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4 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: Zirconium, Niobium, Tantalum - Document categories: Resource update - Extracted: 2026-09-19 10:34:41 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Avalon Advanced Materials Inc. announced an updated Mineral Resource Estimate for its Nechalacho Basal Zone, reporting 58.6 million tonnes of Measured and Indicated resources grading 1.49% TREO and 130.6 million tonnes of Inferred resources grading 1.31% TREO. The MRE, prepared under S-K 1300 standards with an effective date of July 14, 2026, incorporates current economic assumptions and highlights the project's strategic importance due to its diverse rare earth element composition, including a high proportion of magnet rare earths. This update supersedes the 2013 estimate and provides a new foundation for advancing the project, with a PEA currently underway. Reasoning: The document announces a significant update to the Nechalacho Basal Zone MRE, showing substantial growth in Inferred resources and a revalidation of the project's scale and economic potential under current S-K 1300 standards. The high concentration of magnet rare earth elements and the overall mineral diversity are key positive factors, establishing a strong foundation for future development. - Positive factor: Significant increase in Inferred resources, indicating potential for future growth. - Positive factor: Updated MRE incorporates current economic assumptions and reporting standards \(S-K 1300\), providing a contemporary foundation for project evaluation. - Positive factor: High proportion of magnet rare earth elements \(Nd, Pr, Dy, Tb\) contributing significantly to in-situ REO value. - Positive factor: Broad suite of light and heavy rare earth elements, plus zirconium, niobium, and tantalum, highlighting mineral diversity and strategic importance. - Negative factor: The historical estimate and current MRE are not directly comparable due to different reporting standards, methodologies, and economic assumptions. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 82 ## Classification and evidence **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The source explicitly discloses a revised resource estimate Evidence · text > Updated Mineral Resource Estimate ## Extracted facts Stored fact records: 82. Some facts used in scoring do not have a stored record. ## Resource Estimates (82) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-0) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 1.52 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This is a high-confidence Measured resource, updated to current standards, providing a robust foundation for project evaluation. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. Evidence · table > 1.52% Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-1) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 2.79 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for zirconium adds to the overall value proposition and mineral diversity of the project, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Zirconium is a secondary commodity adding to the project's diversity. Evidence · table > 2.79% Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-2) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.36 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for niobium contributes to the project's diverse mineral endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Niobium is a secondary commodity adding to the project's diversity. Evidence · table > 0.36% Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-3) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for tantalum further enhances the project's mineral diversity, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Tantalum is a secondary commodity adding to the project's diversity. Evidence · table > 0.03% Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-4) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 1.49 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This is a substantial Indicated resource, updated to current standards, providing a strong basis for future studies. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. Evidence · table > 1.49% Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-5) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 2.69 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for zirconium contributes to the project's diverse mineral endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Zirconium is a secondary commodity adding to the project's diversity. Evidence · table > 2.69% Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-6) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.35 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for niobium contributes to the project's diverse mineral endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Niobium is a secondary commodity adding to the project's diversity. Evidence · table > 0.35% Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-7) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for tantalum further enhances the project's mineral diversity, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Tantalum is a secondary commodity adding to the project's diversity. Evidence · table > 0.03% Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-8) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 1.31 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The substantial Inferred resource, significantly increased from the prior estimate and updated to current standards, indicates strong exploration potential, though with lower confidence than M&I categories. - Positive factor: Significant increase in Inferred resources compared to prior estimate. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 1.31% Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-9) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 2.43 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for zirconium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for zirconium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 2.43% Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-10) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.34 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for niobium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for niobium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.34% Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-11) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for tantalum further enhances the project's mineral diversity and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for tantalum, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.03% Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-12) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 1.49 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource provides a robust and high-confidence foundation for the project, updated to current standards. - Positive factor: Large combined Measured and Indicated resource. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. Evidence · table > 1.49 % Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-13) Nechalacho Basal Zone · zirconium #### Identity - Project: Nechalacho Basal Zone - Commodity: zirconium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 2.74 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for zirconium enhances the project's overall value and diversity, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for zirconium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Zirconium is a secondary commodity adding to the project's diversity. Evidence · table > 2.74 % Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-14) Nechalacho Basal Zone · niobium #### Identity - Project: Nechalacho Basal Zone - Commodity: niobium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.35 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for niobium contributes to the project's diverse mineral endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for niobium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Niobium is a secondary commodity adding to the project's diversity. Evidence · table > 0.35 % Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-15) Nechalacho Basal Zone · tantalum #### Identity - Project: Nechalacho Basal Zone - Commodity: tantalum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 366.4 - Cutoff Unit: US$/t NMR #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for tantalum further enhances the project's mineral diversity, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for tantalum. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Tantalum is a secondary commodity adding to the project's diversity. Evidence · table > 0.03 % Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-16) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 1.517 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This is a high-confidence Measured resource, updated to current standards, providing a robust foundation for project evaluation. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. Evidence · table > 1.517 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-17) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.246 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for lanthanum contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Lanthanum is a component of the rare earth element suite. Evidence · table > 0.246 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-18) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.573 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for cerium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Cerium is a component of the rare earth element suite. Evidence · table > 0.573 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-19) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.07 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for praseodymium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Praseodymium is a key magnet rare earth element. Evidence · table > 0.070 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-20) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.267 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for neodymium, a critical magnet rare earth, is a significant positive for the project, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Neodymium is a key magnet rare earth element. Evidence · table > 0.267 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-21) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.058 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for samarium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Samarium is a component of the rare earth element suite. Evidence · table > 0.058 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-22) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.007 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for europium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Europium is a component of the rare earth element suite. Evidence · table > 0.007 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-23) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.049 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for gadolinium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Gadolinium is a component of the rare earth element suite. Evidence · table > 0.049 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-24) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.007 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for terbium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Terbium is a key magnet rare earth element. Evidence · table > 0.007 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-25) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.037 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for dysprosium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Dysprosium is a key magnet rare earth element. Evidence · table > 0.037 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-26) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.006 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for holmium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Holmium is a component of the rare earth element suite. Evidence · table > 0.006 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-27) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.016 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for erbium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Erbium is a component of the rare earth element suite. Evidence · table > 0.016 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-28) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for thulium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Thulium is a component of the rare earth element suite. Evidence · table > 0.002 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-29) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.013 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for ytterbium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Ytterbium is a component of the rare earth element suite. Evidence · table > 0.013 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-30) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for lutetium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Lutetium is a component of the rare earth element suite. Evidence · table > 0.002 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-31) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:a689dd0b33c1f4959f2f - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10300000 - Grade: 0.162 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Measured resource for yttrium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: High confidence Measured resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Yttrium is a component of the rare earth element suite. Evidence · table > 0.162 Context: 10.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-32) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 1.489 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This is a substantial Indicated resource, updated to current standards, providing a strong basis for future studies. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. Evidence · table > 1.489 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-33) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.241 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for lanthanum contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Lanthanum is a component of the rare earth element suite. Evidence · table > 0.241 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-34) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.561 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for cerium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Cerium is a component of the rare earth element suite. Evidence · table > 0.561 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-35) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.069 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for praseodymium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Praseodymium is a key magnet rare earth element. Evidence · table > 0.069 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-36) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.263 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for neodymium, a critical magnet rare earth, is a significant positive for the project, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Neodymium is a key magnet rare earth element. Evidence · table > 0.263 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-37) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.057 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for samarium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Samarium is a component of the rare earth element suite. Evidence · table > 0.057 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-38) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.007 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for europium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Europium is a component of the rare earth element suite. Evidence · table > 0.007 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-39) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.049 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for gadolinium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Gadolinium is a component of the rare earth element suite. Evidence · table > 0.049 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-40) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.007 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for terbium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Terbium is a key magnet rare earth element. Evidence · table > 0.007 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-41) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.037 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for dysprosium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Dysprosium is a key magnet rare earth element. Evidence · table > 0.037 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-42) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.006 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for holmium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Holmium is a component of the rare earth element suite. Evidence · table > 0.006 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-43) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.016 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for erbium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Erbium is a component of the rare earth element suite. Evidence · table > 0.016 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-44) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for thulium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Thulium is a component of the rare earth element suite. Evidence · table > 0.002 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-45) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.012 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for ytterbium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Ytterbium is a component of the rare earth element suite. Evidence · table > 0.012 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-46) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for lutetium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Lutetium is a component of the rare earth element suite. Evidence · table > 0.002 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-47) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:7ee796c93b422b04d517 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 48300000 - Grade: 0.159 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Indicated resource for yttrium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Substantial Indicated resource category. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Yttrium is a component of the rare earth element suite. Evidence · table > 0.159 Context: 48.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-48) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 1.494 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource provides a robust and high-confidence foundation for the project, updated to current standards. - Positive factor: Large combined Measured and Indicated resource. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. Evidence · table > 1.494 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-49) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.242 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for lanthanum contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for lanthanum. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Lanthanum is a component of the rare earth element suite. Evidence · table > 0.242 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-50) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.563 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for cerium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for cerium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Cerium is a component of the rare earth element suite. Evidence · table > 0.563 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-51) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.069 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for praseodymium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for praseodymium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Praseodymium is a key magnet rare earth element. Evidence · table > 0.069 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-52) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.264 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for neodymium, a critical magnet rare earth, is a significant positive for the project, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for neodymium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Neodymium is a key magnet rare earth element. Evidence · table > 0.264 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-53) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.057 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for samarium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for samarium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Samarium is a component of the rare earth element suite. Evidence · table > 0.057 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-54) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.007 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for europium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for europium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Europium is a component of the rare earth element suite. Evidence · table > 0.007 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-55) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.049 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for gadolinium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for gadolinium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Gadolinium is a component of the rare earth element suite. Evidence · table > 0.049 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-56) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.007 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for terbium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for terbium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Terbium is a key magnet rare earth element. Evidence · table > 0.007 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-57) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.037 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for dysprosium, a critical magnet rare earth, is a positive for the project, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for dysprosium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Dysprosium is a key magnet rare earth element. Evidence · table > 0.037 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-58) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.006 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for holmium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for holmium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Holmium is a component of the rare earth element suite. Evidence · table > 0.006 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-59) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.016 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for erbium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for erbium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Erbium is a component of the rare earth element suite. Evidence · table > 0.016 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-60) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for thulium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for thulium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Thulium is a component of the rare earth element suite. Evidence · table > 0.002 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-61) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.013 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for ytterbium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for ytterbium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Ytterbium is a component of the rare earth element suite. Evidence · table > 0.013 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-62) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for lutetium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for lutetium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Lutetium is a component of the rare earth element suite. Evidence · table > 0.002 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-63) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:e0713701b00e9131afc2 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 58600000 - Grade: 0.159 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This combined Measured and Indicated resource for yttrium contributes to the overall rare earth endowment, updated to current standards. - Positive factor: Large combined Measured and Indicated resource for yttrium. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: Yttrium is a component of the rare earth element suite. Evidence · table > 0.159 Context: 58.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-64) Nechalacho Basal Zone · rare earth elements #### Identity - Project: Nechalacho Basal Zone - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 1.306 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: The substantial Inferred resource, significantly increased from the prior estimate and updated to current standards, indicates strong exploration potential, though with lower confidence than M&I categories. - Positive factor: Significant increase in Inferred resources compared to prior estimate. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Positive factor: QP signed off on the estimate. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 1.306 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-65) Nechalacho Basal Zone · lanthanum #### Identity - Project: Nechalacho Basal Zone - Commodity: lanthanum - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.216 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for lanthanum contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for lanthanum, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.216 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-66) Nechalacho Basal Zone · cerium #### Identity - Project: Nechalacho Basal Zone - Commodity: cerium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.51 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for cerium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for cerium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.510 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-67) Nechalacho Basal Zone · praseodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: praseodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.063 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for praseodymium contributes to the project's magnet rare earth potential, though with lower confidence. - Positive factor: Significant Inferred resource for praseodymium, a key magnet rare earth. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.063 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-68) Nechalacho Basal Zone · neodymium #### Identity - Project: Nechalacho Basal Zone - Commodity: neodymium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.241 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for neodymium contributes significantly to the project's magnet rare earth potential, though with lower confidence. - Positive factor: Significant Inferred resource for neodymium, a key magnet rare earth. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.241 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-69) Nechalacho Basal Zone · samarium #### Identity - Project: Nechalacho Basal Zone - Commodity: samarium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.049 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for samarium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for samarium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.049 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-70) Nechalacho Basal Zone · europium #### Identity - Project: Nechalacho Basal Zone - Commodity: europium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.006 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for europium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for europium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.006 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-71) Nechalacho Basal Zone · gadolinium #### Identity - Project: Nechalacho Basal Zone - Commodity: gadolinium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.041 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for gadolinium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for gadolinium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.041 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-72) Nechalacho Basal Zone · terbium #### Identity - Project: Nechalacho Basal Zone - Commodity: terbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.006 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for terbium contributes to the project's magnet rare earth potential, though with lower confidence. - Positive factor: Significant Inferred resource for terbium, a key magnet rare earth. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.006 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-73) Nechalacho Basal Zone · dysprosium #### Identity - Project: Nechalacho Basal Zone - Commodity: dysprosium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.028 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for dysprosium contributes to the project's magnet rare earth potential, though with lower confidence. - Positive factor: Significant Inferred resource for dysprosium, a key magnet rare earth. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.028 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-74) Nechalacho Basal Zone · holmium #### Identity - Project: Nechalacho Basal Zone - Commodity: holmium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.005 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for holmium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for holmium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.005 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-75) Nechalacho Basal Zone · erbium #### Identity - Project: Nechalacho Basal Zone - Commodity: erbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.011 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for erbium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for erbium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.011 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-76) Nechalacho Basal Zone · thulium #### Identity - Project: Nechalacho Basal Zone - Commodity: thulium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.002 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for thulium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for thulium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.002 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-77) Nechalacho Basal Zone · ytterbium #### Identity - Project: Nechalacho Basal Zone - Commodity: ytterbium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.009 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for ytterbium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for ytterbium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.009 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-78) Nechalacho Basal Zone · lutetium #### Identity - Project: Nechalacho Basal Zone - Commodity: lutetium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.001 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for lutetium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for lutetium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.001 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-79) Nechalacho Basal Zone · yttrium #### Identity - Project: Nechalacho Basal Zone - Commodity: yttrium - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2026-07-14T00:00:00.000Z - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Tudorel Ciuculescu, Richard Gowans - Resource group id: resource:ba800539a782d1b62b16 - Deposit or zone: Basal Zone - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 130600000 - Grade: 0.117 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-07-14 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This Inferred resource for yttrium contributes to the project's diverse mineral endowment and future potential, though with lower confidence. - Positive factor: Significant Inferred resource for yttrium, adding to project diversity. - Positive factor: Updated with current economic assumptions and S-K 1300 standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · table > 0.117 Context: 130.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-80) Nechalacho Rare Earth Elements Project · rare earth elements Historical result Needs review: historical\_restatement #### Identity - Project: Nechalacho Rare Earth Elements Project - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2013-08-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: No - Resource group id: resource:9eb551026e7dcfd5321f - Deposit or zone: Nechalacho #### Resource Data - Category: indicated - Tonnes: 61900000 - Grade: 1.64 - Grade Unit: % TREO - Cutoff Grade: 345 - Cutoff Unit: US$/t net metal-return #### Prior Estimate - Resource Date: 2013-08-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-08-01T00:00:00.000Z #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This is a historical resource estimate from 2013, provided for context but superseded by the current MRE and not directly comparable due to different standards and assumptions. - Negative factor: Historical estimate, not directly comparable to current MRE. - Negative factor: Lower confidence due to age and different reporting standards. Evidence · text > Later that year, in August 2013, Avalon published an updated mineral resource estimate for Nechalacho, reporting 61.9 million tonnes of Measured and Indicated resources grading 1.64% TREO and 0.35% HREO, together with 58.2 million tonnes of Inferred resources grading 1.38% TREO and 0.26% HREO, using a US$345 per tonne net metal-return cut-off. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 13.0 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/avalon-announces-updated-mineral-resource-estimate-for-nechalacho-basal-zone-rev--5f60fa17-3d8b-461f-8843-865efb65fab4#fact-resource-facts-81) Nechalacho Rare Earth Elements Project · rare earth elements Historical result Needs review: historical\_restatement #### Identity - Project: Nechalacho Rare Earth Elements Project - Commodity: rare earth elements - Region: northwest territories - Reported Region: Northwest Territories - Ticker: AVL #### Resource scope - Estimate type: resource - Effective date: 2013-08-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: No - Resource group id: resource:8c15fb0e8fe6ef4e3564 - Deposit or zone: Nechalacho #### Resource Data - Category: inferred - Tonnes: 58200000 - Grade: 1.38 - Grade Unit: % TREO - Cutoff Grade: 345 - Cutoff Unit: US$/t net metal-return #### Prior Estimate - Resource Date: 2013-08-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-08-01T00:00:00.000Z #### Dates - Event date: 2026-08-06T00:00:00.000Z Reasoning: This is a historical Inferred resource estimate from 2013, provided for context but superseded by the current MRE and not directly comparable due to different standards and assumptions. - Negative factor: Historical estimate, not directly comparable to current MRE. - Negative factor: Lower confidence due to age and different reporting standards. - Negative factor: Inferred resource category has lower geological confidence. Evidence · text > Later that year, in August 2013, Avalon published an updated mineral resource estimate for Nechalacho, reporting 61.9 million tonnes of Measured and Indicated resources grading 1.64% TREO and 0.35% HREO, together with 58.2 million tonnes of Inferred resources grading 1.38% TREO and 0.26% HREO, using a US$345 per tonne net metal-return cut-off. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 13.0 years before this release ## 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.