Unlocking a World‑Class Rare Earths Opportunity in Brazil

Oceana Metals Limited (ASX: OCN) is an Australian-based mineral exploration company focused on building a portfolio of critical minerals assets, with a particular emphasis on rare earth elements (REE). The company is pursuing a strategy of acquiring and advancing high-quality projects in stable, mining-friendly jurisdictions, with the aim of supporting long-term REE supply into Western-aligned markets.

In April 2026, Oceana announced a transformative acquisition of the Serra Negra Project in Minas Gerais, Brazil. This project represents a large-scale, carbonatite-hosted REE system, approximately 10 kilometres in diameter, and is located within a globally significant mineral province alongside major producing deposits. Early work has identified extensive and laterally continuous zones of REE mineralisation, as well as emerging potential for additional commodities such as niobium.

The company is progressing an execution-focused exploration strategy to rapidly unlock the value of Serra Negra. This includes historical drilling re-assay, an accelerated drilling campaign, and undertaking geophysical and metallurgical studies. This staged approach is designed to move efficiently from early exploration toward resource definition and establish future development opportunities.

Oceana Metals is supported by an experienced leadership team with a strong track record of building successful mining companies and advancing major resource projects.