News Press Releases

Aclara Appoints New Director

T.ARA | February 9, 2023

TORONTO, ON / ACCESSWIRE / February 9, 2023 / Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce the appointment of Maria Olivia Recart to Aclara's board of directors (the "Board"), following the unanimous approval by the existing members of the Board. Ms. Recart will also serve as Chair of the Sustainability Committee of the Board. Following the appointment of Ms. Recart, the Board will be comprised of 7 directors, 4 of whom are independent.

"We are pleased to welcome Maria Olivia to the Aclara Board," said Eduardo Hochschild, Chairman of Aclara. "Maria Olivia's extensive ESG experience covering ethical production, sustainable supply chains, community and government relations, environmental matters and social value, will be invaluable to Aclara as we grow our business and pursue our mission to be the cleanest heavy rare earths producer in the world."

Ms. Recart is an independent non-executive member of the board of directors of CAP S.A, a Chilean listed producer of iron ore, which owns a steel refinery and a company that builds iron and steel products (including housing panels). She also serves as president of the Audit Committee as well as a member of certain other committees of CAP S.A. She is also a board member of Comunidad Mujer, a Chilean non-profit organization advocating for women's issues in public policy.

Previously, Ms. Recart was the Rector of Universidad Santo Tomás from 2019 to 2023. Prior to that, she worked at BHP from 2010 to 2018 as Vice President Corporate Affairs, where she was responsible for community engagement, communications, government relations and social value strategy for the Americas. During that time, she also served as a member of the Owners' Council of Escondida (the largest copper mine in the world by production, owned by BHP, Mitsubishi and Rio Tinto), where she advised on a range of operational (including safety), financial, commercial, HR and strategy issues. She was also appointed as Vice President of the board of directors of Fundación Chile, a mixed board composed of Chilean government officials and BHP appointed professionals; Vice President of Centro de Entrenamiento Industrial y Minero (CEIM), an apprentice learning center to promote the skills needed in workforce for productivity impact in mining and construction operations; and Vice President of Fundación Minera Escondida, a non-profit organization in the region of Antofagasta whose initiatives are focused on making impact in the region's human and social capital and target minorities, the indigenous communities and women in particular.

Ms. Recart also has experience in the public sector in Chile, where she served as Vice Minister of Finance between 2006 and 2010 under President Michelle Bachelet's first government and was responsible for the team that led Chile into the OECD.

"I'm honored to welcome Maria Olivia to our Board", said Ramon Barúa, Chief Executive Officer and director of Aclara. "As we implement our strategic plan, it is especially important that our Board membership reflects our commitment to our communities and our environment. We are very pleased that Maria Olivia, who is from the Biobio Region in Chile, will contribute remarkable in-country experience, a strong business network and added enthusiasm to our Aclara story."

About Aclara

Aclara Resources is a Rare Earths company with a development project in Chile and is listed on the TSX (TSX:ARA). Aclara is initiating the development of its resources through a project called the Penco Module, which covers a surface area of approximately 600 hectares, and which hosts ionic clays rich in rare earth elements. Aclara is currently focused on the development and future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's extraction process offers several environmentally positive attributes such as: no blasting, crushing, or milling; no tailings facility; minimal water consumption due to a high level of water recirculation; is amenable to leaching with a fertilizer; and contains no radioactivity. In parallel with the development of the Penco Module, the Company intends to define additional opportunities to increase potential future rare earth element production via intensive greenfield exploration programmes and the development of additional project "modules" within the Company's concessions.1

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to, among other things, management's expectations as to the accretive value to the Company from the appointment of Ms. Recart to the Board. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 30, 2022 filed on the Company's SEDAR profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.