Locksley Provides Update on its Collaboration with Columbia University to Advance Rare Earth Processing Pathways for its Mojave Project in California

SAN BERNARDINO, Calif., April 29, 2026 /PRNewswire/ -- Locksley Resources Limited (ASX: LKY, OTCQX: LKYRF) announced today that its research collaboration with Columbia University, continues to support the company's understanding of potential processing routes for its carbonatite-related mineral systems located at the Company's Mojave Project in California.

The research collaboration, being led by Professor Greeshma Gadikota at Columbia's Department of Earth and Environmental Engineering and Columbia Climate School, is focused on developing potential processing pathways for the recovery, separation and metallization of rare earth elements and associated critical metals from carbonatite and bastnasite style mineral systems, including the mineralization style relevant to Locksley's El Campo REE project within its Mojave Project in the Mountain Pass region.

"The work completed to date has provided us with alternative processing routes aimed at simplifying downstream flowsheets that can be evaluated for our project," said Kerrie Matthews, Managing Director and CEO of Locksley. "The next phase of this partnership will use Locksley samples and assess the implications of these results for future consideration. Of key importance is that this work is being conducted in parallel with maiden exploration at El Campo, enabling us to better understand all the potential development pathways as the project advances."

Additional details on the project and work conducted to date can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03083570-6A1322598&v=undefined.

This collaboration is one of several Locksley has in place. Earlier this month the company reported on its advancement toward production of high purity antimony concentrate and next-generation materials as a result of its sponsored research program with Rice University in Texas.

Locksley Resources Limited (https://www.locksleyresources.com.au) is focused on critical minerals in the US. The Company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This integrated approach combines resource development with innovative processing and separation technologies, positioning Locksley to play a key role in advancing U.S. critical minerals independence.

The Company's Mojave Project is located adjacent to MP Materials Mountain Pass Mine and mill, the only REE producing mine in the United States to date.

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SOURCE Locksley Resources