MDL Medallion Resources Ltd

Medallion Resources Ltd (TSX VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD)
("Medallion" or the "Company") today announced that it has signed a memorandum
of understanding (the "MOU") with Arab Mining Company ("Arab Mining"), a
Jordan-based, Pan-Arab mining-industry investment firm. The MOU grants Arab
Mining, for a period of six months, the exclusive right to negotiate terms to
invest or participate in a joint venture, controlled and majority-owned by
Medallion, which will focus on rare-earth production and processing
opportunities within the Arab League nations, including a proposed rare-earth
processing facility in Duqm, Sultanate of Oman. 


Arab Mining Company, with headquarters in Amman, the capital city of The
Hashemite Kingdom of Jordan, was founded in 1975 by the Arab Economic Unity
Council. The Company's mandate is to encourage joint Arab cooperation through
investments in and development of the mineral resources of the Arab League
nations. This is accomplished by establishing or participating in joint ventures
with the concerned Arab governments and private-sector companies in the fields
of mining and those of related and complementary industries. The shareholders of
Arab Mining comprise 11 governments and four government corporations of the Arab
League nations. The Arab Mining Company presently has holdings in seven
significant mining and mineral-resource operations.


The non-binding MOU provides Medallion and Arab Mining with a proposed
joint-venture framework for evaluating secondary, rare-earth opportunities
within the Arab League region. These potential opportunities include building
separation facilities to produce individual rare-earth oxides from concentrates;
exploring and developing heavy-mineral-sands resources; examining by-product
processing potential from phosphate and uranium production; and exploring
prospective rare-earth mineral properties.


"Arab Mining has been assessing and investing in significant mining and
mineral-processing projects for almost 40 years, and brings to the venture an
impressive track record and a dedicated development fund backed by shareholder's
equity of over $1.2 billion," said Dr Bill Bird, Medallion Chairman and CEO.
"These resources, combined with Medallion's expertise and industry contacts
constitute the potential for establishing a significant rare-earth value chain
in the region. We look forward to realizing this vision with Arab Mining
Company." 


About Medallion Resources Ltd.

Medallion is rethinking rare earths. Led by Dr Bill Bird and supported by an
experienced technical team, the Company focuses on low-cost, near-term,
rare-earth production opportunities using the rare-earth mineral monazite, which
is available as a by-product from existing mining and mineral-sands sources
principally in the Indian Ocean basin. Medallion, partnered with Takamul
Investment Company, is currently evaluating a proposal to import monazite
feedstock and produce rare-earth products at a proposed processing facility in
the industrial city of Duqm, Oman. Rare earths are used in critical components
for virtually all computing and mobile electronic products, as well as wind
turbines, electric and hybrid vehicles, and strategic defense systems. Medallion
is committed to following best practices and accepted international standards in
all aspects of mining, mineral processing and the safe management of waste
materials. More about Medallion (TSX VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD)
can be found at medallionresources.com. 


For more information on Arab Mining Company, visit armico.com.jo.

Medallion management has prepared this news release and takes full
responsibility for content. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements,
such as estimates and statements that describe Medallion's future exploration,
production and financing plans, objectives or goals, including words to the
effect that Medallion or management expects a stated condition or result to
occur. Since forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties. Actual results
in each case could differ materially from those currently anticipated in these
statements. Such risks include expectations that may be raised by discussing
potential business transactions, joint ventures, acquisitions or development
plans, where all conditions to completing them have not been met. There can be
no assurance that any proposed potential business transactions, joint ventures,
acquisitions or development plans, as discussed, will be successfully negotiated
or completed, or that the board of directors of Medallion or potential venture
partners will approve such agreements. Also, in order to proceed with
Medallion's plans, additional funding will be necessary and, depending on market
conditions, this funding may not be forthcoming on a schedule or on terms that
facilitate Medallion's plans. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medallion Resources Ltd.
Donald Lay
President
+1.604.681.9558
info@medallionresources.com


Hamza Thindal Capital Corp.
Kam Thindal
Partner
+1.888.371.9098
kam@htcapitalcorp.com
www.medallionresources.com

Medallion Resources (TSXV:MDL)
Gráfico Histórico do Ativo
De Set 2024 até Out 2024

Medallion Resources (TSXV:MDL)
Gráfico Histórico do Ativo
De Out 2023 até Out 2024