Harts Range Bulk Sample Confirm Dominance of HREO.

New Frontier Minerals Limited / Index: LSE & LSE / Epic: NFM / Sector: Industrial Metals and Mining

26 August 2025

New Frontier Minerals Limited

("NFM" or the "Company")

Harts Range bulk sample returns 1.72% TREO including 4.51% Nb₂O₅

and exceptional HREO/TREO ratio of 94.8%

New Frontier Minerals Limited (LSE/ASX: NFM) is pleased to announce the geology team has identified additional high-priority targets for drill-testing at its Harts Range Project, located 140km north-east of Alice Springs in the Northern Territory, Australia.

While awaiting regulatory approval for its inaugural drilling campaign, the Company collected a 25kg bulk sample from the Cusp Prospect. Recent assay results returned 1.72% TREO, with a notably high HREO/TREO ratio confirming the dominance of heavy rare earths. The sample also reported significant niobium (4.51% Nb₂O₅) and tantalum (0.91% Ta₂O₅) enrichment.

Highlights

·    Ahead of the upcoming drilling campaign, NFM collected a 25kg bulk sample (HRMS001) from the Cusp Prospect for geochemical analysis

·    Assays returned³ 1.72% TREO (including 0.19% Dy₂O₃, 0.03% Tb₄O₇), 4.51% Nb₂O₅ and 0.91% Ta₂O₅

·    Very high HREO/TREO ratio of 94.8%, indicating the dominance of heavy rare earths (HRE) in particular dysprosium and terbium which are high value magnet rare earth elements (REEs)

·    Global supply of heavy rare earths is overwhelmingly concentrated in China. With an exceptional HREO/TREO ratio, the Cusp Prospect has the potential to emerge as a rare non-Chinese source

·    Exceptional niobium enrichment of 4.51% Nb₂O₅ and 0.91% Ta₂O₅ highlights the outstanding grade potential at Harts Range

·    NFM has initiated the regulatory approval process for its maiden Reverse Circulation (RC) drilling program at Harts Range, which is targeted to commence in Q3, 2025 subject to regulatory approvals

·    NFM is assessing both conventional and novel processing options for this HRE-enriched material, with the aim of accelerating the pathway to commercialisation and enabling future offtake discussions with global magnet supply chain participants

Chairman Gerrard Hall commented: ""These results from our bulk sample at the Cusp Prospect further reinforce the exceptional potential of our Harts Range Project. The assays demonstrate not only outstanding rare earth grades, with a heavy rare earth enrichment ratio above 94%, but also outstanding niobium and tantalum grades that are rarely seen at surface. This positions Harts Range as one of the most compelling heavy rare earth and niobium opportunities on the ASX.

"With global supply of heavy rare earths dominated by China, these results highlight the strategic importance of advancing Harts Range as a potential new non-Chinese source of critical magnet metals. Our next step is the maiden drilling program, which will be pivotal in unlocking the scale of the mineralised system and advancing towards commercialisation."

CUSP PROSPECT BULK SAMPLE ANALYSIS

Analysis of the bulk sample assays from the Cusp Prospect confirm total rare earth oxide (TREO) grades of 1.72% TREO, with a heavy rare earth distribution exceeding 94%, and highlights exceptional niobium (4.51% Nb₂O₅) and tantalum (0.91% Ta₂O₅) enrichment.

The rare earth sample distribution from the Cusp bulk sample is consistently enriched in dysprosium (11.23%, Dy₂O₃) and terbium (1.86%, Tb₄O₇), with a rare earth basket that comprises over 94.8% heavy rare earth minerals (Figure 1). The combined dysprosium and terbium distribution at the Cusp Prospect makes up 13.09% of the TREO basket mix.

The 25kg bulk sample was collected from the Cusp Prospect within the Harts Range Project (Figure 2 and 3). The sample was taken from the outcrop which comprised of mineralised pegmatite containing samarskite which was identifiable by weight and colour (and subsequently laboratory assays), enabling efficient bulk sample collection.

NEXT STEPS

Over the coming weeks and months, New Frontier Minerals will:

·      Assess both conventional and novel processing options for this HRE-enriched material, with the aim of accelerating the pathway to commercialisation and enabling future offtake discussions with global magnet supply chain participants

·      Continue field investigations to define priority drilling targets at the Cusp, Bobs, Paddington, Westminster, Old Trafford and Headingly Prospects.

·      Advance regulatory approvals and finalise contractor arrangements to commence the maiden Reverse Circulation (RC) drilling campaign in Q3 FY25.

New Frontier remains committed to delivering value to shareholders through disciplined exploration and development of its key assets.

ENDS

This announcement was approved for release by the Board of New Frontier Minerals Limited.

REFERENCES

1.     CCZ ASX Release - 6 November 2024 (High grade Nb and U assays validate Harts Range Project)

2.     NFM ASX Release - 12 May 2025 (Sampling returns 10.61% TREO with 23.56% Nb2O5 and 15.67% Ta2O5at Harts Range)

3.     Intertek Assay Results - 21 August 2025 (Job Code: 2375.0/2514907)

For further information please contact

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 140km north-east from Alice Springs in the Northern Territory.

Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland and the Broken Hill Project in western New South Wales.

New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".

Competent Persons Statement

The scientific and technical information in this announcement, which relates to exploration results and the geology of the deposits described, is based on information compiled and approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the requirements of a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience relevant to Rare Earth Elements (REE), industrial mineral copper mineralisation types, as well as expertise in the quality and potential mining methods of the deposits under consideration. Additionally, he has 25 years of experience in the estimation, assessment, and evaluation of exploration results and mineral resource estimates, which are the activities for which he accepts responsibility. He also successfully completed an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM Resources and was engaged by New Frontier Minerals Limited to prepare the documentation for several prospects, specifically those within the Harts Range Prospects upon which the Report is based. Mr Biggs consents to the inclusion in this announcement of the matters based on his information and supporting documents in the form and context in which it appears.

Furthermore, the full nature of the relationship between himself and New Frontier Minerals Limited has been disclosed, including any potential conflicts of interest. Mark Biggs is a director of ROM Resources, a company that is a shareholder of New Frontier Minerals Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Minerals Limited.

The Report or excerpts referenced in this statement have been reviewed, ensuring that they are based on and accurately reflect, in both form and context, the supporting documentation relating to exploration results and any mineral resource estimates. The release of the Report and this statement has been consented to by the Directors of New Frontier Minerals Limited.

Forward Looking Statements

Certain information in this document refers to the intentions of New Frontier Minerals Ltd, but these are not intended to be forecasts, forward-looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause New Frontier Minerals Ltd's actual results, performance, or achievements to differ from those referred to in this announcement. Accordingly, New Frontier Minerals Ltd, its directors, officers, employees, and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this announcement will therefore carry an element of risk. The announcement may contain forward-looking statements that involve several risks and uncertainties. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

Accompanying appendices and JORC table is available by clicking or pasting the following link into your website browser:

http://www.rns-pdf.londonstockexchange.com/rns/5183W_1-2025-8-24.pdf