Summit Minerals Expands Critical Metals Portfolio with Mundo Novo Niobium Project Acquisition.

Summit Minerals Limited (ASX: SUM) has signed a binding agreement to acquire the highly prospective Mundo Novo Niobium-REE-Phosphate Carbonatite Project in central Brazil, subject to due diligence. Covering 17.2 km, this underexplored alkaline carbonatite complex contains niobium, rare earth elements (REE), and phosphate mineralization confirmed from the surface. Drilling highlights include intersections of up to 51m at 10,000ppm TREO and 9m at 1.23% Nb₂O₅, indicating significant multi-commodity potential.

The project's geology, similar to Meteoric Resources' Poços de Caldas Complex, positions Mundo Novo as a promising niobium and REE resource, similar to the world-class Catalao Complex. Summit will prioritize niobium exploration, leveraging an extensive exploration database and all required permits. Managing Director Gower emphasized the strategic importance of this acquisition in supporting the global clean energy transition and decarbonization efforts. Mundo Novo complements Summit's Brazilian portfolio, providing a drill-ready, high-grade critical metals project.

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