Mount Ridley Mines Unveils Massive Scandium and Gallium Resources, Expands Strategic Footprint

Mount Ridley’s Critical Minerals Breakthrough

Mount Ridley Mines Limited (ASX, MRD) has taken a significant step forward in its quest to become a key player in the critical minerals sector with the announcement of maiden JORC (2012) Inferred Mineral Resource Estimates for both scandium and gallium at its flagship Mount Ridley Project in Western Australia. The company reported a scandium resource of 367.98 million tonnes at 57.3 parts per million (ppm), equating to nearly 19,000 tonnes of contained scandium metal, alongside an even larger gallium resource of 838.7 million tonnes at 29.3 ppm, containing over 24,500 tonnes of gallium metal.

These discoveries are particularly noteworthy given the growing global demand for these metals, which are critical to advanced manufacturing, aerospace, defence, and semiconductor industries. Scandium’s role in high-performance aluminium alloys and gallium’s importance in electronics and photonics position Mount Ridley as a potentially strategic multi-element project.

Strategic Tenure Consolidation and Exploration Upside

Mount Ridley has consolidated its landholding within the Grass Patch Complex, now controlling a contiguous strike length of approximately 70 kilometres. This expanded tenure secures the full interpreted extent of the regolith-hosted mineral system that contains scandium, gallium, and rare earth elements. Importantly, the majority of this area remains underexplored, with historical drilling largely shallow and focused on discrete zones, leaving substantial scope for resource growth.

The company’s recent geophysical reinterpretation has identified seven new high-priority target zones, including a compelling 12.8-kilometre corridor adjacent to existing resource blocks. These targets exhibit geophysical signatures similar to known mineralised areas but have yet to be drill tested, setting the stage for an active exploration campaign in 2026.

Advancing Metallurgical and Downstream Partnerships

Recognising the importance of processing and recovery pathways, Mount Ridley has executed a Material Transfer Agreement with the Lawrence Livermore National Laboratory in the United States. This collaboration will facilitate preliminary, non-commercial metallurgical and characterisation work focusing on leaching and rare earth element extraction. Such partnerships are vital for de-risking downstream development and positioning the project within allied jurisdictions.

Alongside this, the company has appointed Allister Caird as Chief Executive Officer, bringing expertise in exploration, project development, and critical minerals strategy. This leadership bolsters Mount Ridley’s capability to advance its multi-element development framework effectively.

Financial Position and Outlook

Mount Ridley strengthened its financial footing during the quarter, completing a 3-cent option underwriting that boosted cash reserves to approximately $2.83 million as of late January 2026. This capital position supports ongoing exploration, metallurgical testwork, and preparatory activities for drilling programs planned for the year ahead.

With scandium and gallium now firmly established within its resource base, and rare earth elements already part of its portfolio, Mount Ridley Mines is well placed to capitalise on Australia’s recent designation of gallium and rare earths as priority critical minerals. This alignment with national strategic initiatives enhances the project’s appeal to investors and potential downstream partners alike.