North Stanmore Clay-Hosted Heavy Rare Earth Project
The North Stanmore Project is located at Cue in Western Australia, within a proven mining jurisdiction, adjoining established major road network with access to rail, airports and port infrastructure.
Victory’s contiguous tenement package totals over 16,500 (ha) with an additional 12,500ha of tenure applications. The entire package lies adjacent to major infrastructure corridors, providing a logistical and development advantage rarely seen in new projects of this scale and strategic significance.
Victory Metals Ltd (ASX: VTM) is developing Australia’s largest and most advanced heavy rare earth clay project, the North Stanmore Heavy Rare Earth Project at Cue, Western Australia.
The project hosts a JORC compliant resource of 321 million tonnes, supporting a mine life of more than 60+ years. With Heavy Rare Earth to Total Rare Earth ratios (HREO/TREO) averaging 39% and reaching up to 83%, North Stanmore represents one of the most heavy rare earth enriched clay deposits globally.
Victory has proven its ability to produce all seven rare earth elements currently under Chinese export restrictions – Dysprosium, Terbium, Yttrium, Scandium, Samarium, Gadolinium and Lutetium – making it one of the few Western aligned sources of these defence critical materials.
With PFS level CAPEX definition, strong government alignment, Victory presents a highly strategic opportunity in the global race to secure non-Chinese heavy rare earth supply.
Project Highlights
- JORC Resource: 321 Mt (in ~10% of the defined exploration target)
- HREO/TREO: 39% average (up to 83%)
- Mine Life: 60+ years
- Location: Cue, WA – 45 min flight from Perth, 10 min drive to site
- North Stanmore Tenure holding situated on only ~8%: of Victory’s tenure
- Jurisdiction: Crown Land, no freehold landowners and no resettlement issues
- Process: Leach, rapid kinetics (30 min leach) identified from recent kinetic testing
- Pilot Partner: Curtin University expressed interest to co-develop of pilot plant
- Products produced to date: mixed rare earth oxide MREO (containing 94% REEs), mixed rare earth carbonate MREC, and mixed rare earth oxalate
- ESG: Negligbile radioactivity, recyclable reagents
- Offtake Interest: Japan, USA and EU
OUR PATH TO VICTORY
Political stability, low royalties and a supportive government offering numerous and attractive funding initiatives create significant benefits.
North Stanmore August 2025 MRE
Numbers are rounded to reflect they are an estimate. Numbers may not sum due to rounding.
| CLASSIFICATION | MRE TONNES (t) | TREOSc (ppm) | TREO (ppm) | HREO (ppm) | LREO (ppm) | HREO/TREO (%) | Sc2O3 (ppm) | Ga2O3 (ppm) |
|---|---|---|---|---|---|---|---|---|
| Indicated | 176,522,000 | 532 | 505 | 190 | 316 | 39 | 26 | 26 |
| Inferred | 144,118,000 | 484 | 463 | 166 | 297 | 37 | 21 | 25 |
| Total | 320,640,000 | 510 | 486 | 179 | 307 | 38 | 24 | 26 |
Competent Person Statement – Professor Ken Collerson
Statements contained in this report relating to exploration results, Mineral Resource Estimate, metallurgy results, scientific evaluation, and potential, are based on information compiled and evaluated by Emeritus Professor Ken Collerson. Professor Collerson (PhD) Principal of KDC Geo Consulting and Director of Victory Metals Limited, and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM No. 100125), is a geochemist/geologist with sufficient relevant experience in relation to rare earth element and critical metal mineralisation being reported on, to qualify as a Competent Person as defined in the Australian Code for Reporting of Identified Mineral resources and Ore reserves (JORC Code 2012). Professor Collerson consents to the use of this information in this report in the form and context in which it appears.