Aclara Provides Brownfield Exploration Results

TORONTO, July 25, 2022 - Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce drilling results completed over Alexandra Poniente, a new exploration area within the Penco Module Project (the "Project"), located 15 km from Concepcion, Chile.

A total of 3,011.5 m from 100 drill holes were completed over Alexandra Poniente during 2021 and early 2022, for a total drill hole inventory of 18,566 m with 665 drill holes over the Project area. The purpose of this drilling campaign was to increase the Mineral Resource base at the Project. The results of this drilling campaign will be included in an updated Mineral Resource statement to be issued in Q4 2022.

Alexandra Poniente is located in the western part of Alexandra Oriente as an extension of the mineralization given by the presence of garnet granitoid and the development of soil horizons. Figure 1 shows the spatial relationship between Alexandra Poniente, Alexandra Oriente, and the other mineralized zones located within the Penco Project area.

The drill hole program was successful in:

• confirming the hypothesis that Alexandra Poniente is an extension of the Alexandra Oriente mineralization;
• extending known mineralization at similar grades and widths to the north and west of Alexandra Poniente;
• extending the depth of known mineralization in the center of Alexandra Poniente; and
• confirming the continuity and thickness of the Alexandra Poniente deposit.

A collar location map highlighting new drilling is also shown in Figure 1 and the new drill hole intersections drilled between May 2021 and March 2022 are shown in Table 1. The new drill holes, averaging 30 m in depth, are similar in style and grade to other deposits at the Project. Where drill holes intersected mineralization with TREY grades above 1800 ppm, the width and average composite grades (ppm) of these intersections are also shown in Table 1. Previous drill hole information for the other known mineralized areas forming part of the Penco Project (Maite, Victoria Norte, Victoria Sur, Alexandra Oriente, and Luna) has been summarized in the Preliminary Economic Assessment (PEA) NI 43 101 Technical Report for Penco Module Project (Ausenco, 2021) (the "Technical Report") and available under the Company's profile on SEDAR at www.sedar.com.

Figure 1. Plan view of the Project location, the evaluated and reported Mineral Resource Shells (gray polygons), and the New Delineated Mineralization "Alexandra Poniente" (red polygon). Maite, Victoria Norte, Victoria Sur, Alexandra Oriente, and Luna were reported in the Technical Report. Luna is on private land where the Company has already obtained an agreement for exploitation. Other holes outside the Project Boundary were completed for exploration purposes. The May 2020 - February 2021 drillholes were published in the Technical Report, May - June 2021 and November 2021 - March 2022 drillholes are part of the present study.

Juan Pablo Navarro, Head of Exploration Geology at Aclara, commented:

"The drill holes were aimed at infilling the central Alexandra Poniente area and expanding known mineralization to the east, west and north. We are very pleased with the results, which show good mineral continuity across the zone as well as open mineralization in all directions.

The two important takeaways from these results are: firstly, that there remains potential Mineral Resource upside at Alexandra Poniente, where several intersections have grades similar to those shown in the Technical Report; and secondly, that the results confirm that Alexandra Poniente remains open to the west, north and at depth. It was hypothesized that Alexandra Poniente is an extension of Alexandra Oriente, and these results support that conclusion.

We have decided to stop further drilling in the Penco area until we have greater clarity on the environmental permits for the Penco Module. Our efforts are now being directed towards greenfield's targets to open other locations, thereby diversifying permitting risk. We will update the market on the results of the greenfield's drilling campaign at the appropriate time."

Geological Overview

The Project hosts high quality heavy rare earth mineralization absorbed in ionic clay deposits.

A cross section of Alexandra Poniente is shown in Figure 2A, including the lithology, the relation of the regolith horizons, and the drillholes exhibiting grades of TREY in ppm. Figure 2B indicates the geology of Alexandra Poniente, where the garnet granitoid, diorite and metapelite is exhibited.

Figure 2. Alexandra Poniente. (A) A-B cross section representing lithology, the soil horizons, and some holes displaying TREY grade intersections. Highest TREY grades occur in the B2 horizon, hosted in the garnet granitoid (GG) that extends to the west. The cross section shows that the mineralization found in Alexandra Poniente is open to the west, and at depth. The other lithologies in the section are diorite (DRT) and metapelite (MP). (B) Alexandra Poniente Lithologic Map. The white polygon represents the New Delineated Mineralization. The country-rock hosting the mineralization is the garnet granitoid. The other rocks such as metapelite and diorite are mineralized in the contact with the garnet granitoid. There is evidence indicating the presence of garnet granitoids occurring outside the New Delineated Mineralization, implying more potential for Mineral Resources. Section A-B indicates the location of the cross section displayed in "A".

Figure 3A shows the associated geology and soil horizons, which are intercepted to define the three-dimensional (3-D) geological units, which will be used for further Mineral Resource estimation. These units are displayed in the cross section presented in Figure 3A and in a map view in Figure 3B.

Figure 3. (A) Cross section C-D showing the extension of the Geological Unit GG-B2 and GG-B1. (B) Map view showing the geological units used for the 3D geomodelling. Furthermore, the cross section shows that the mineralization is open to the north, and at depth. These are defined as the interception of the lithology and the soil horizons used for Mineral Resource estimation and are displayed in the cross-section C-D.

Sampling and Assay Protocols

The 100 sonic drill holes were sampled in intervals of 0.7 m to 2 m, for a total of.1,663 samples being sent for TREE analysis. Sampling and analytical protocols are unchanged from the Technical Report, which were identified to be in line with standard industry practice. The QA/QC program indicates excellent levels of precision and accuracy for Dy, Tb, Nd, Pr and Lu. Overall, the database for total grades similarly shows excellent precision and accuracy.

Qualified Person and technical help

The technical information in this news release, including the information related to geology, drilling, mineralization, and modeling, has been reviewed and approved by Luis Oviedo, an independent Consulting Geologist with more than 45 years of experience. Mr. Oviedo is a member of the Colegio de Geólogos de Chile and the Institute of Mining Engineers of Chile and is an Independent Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

The QP confirms that he visited the project area on June 16, 2022, and was supported by the Head of Exploration Geology at Aclara, Juan Navarro, and colleagues Rene Henriquez and Diego Monares, who reviewed and analyzed the relevant project information. Antoni Magri provided an analysis of the QA/QC work over the Alexandra Poniente deposit.

Contact Information

For further information, please visit https://www.aclara-re.com/ or contact:
investorrelations@aclara-re.com
contacto@aclara-re.com

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 mineral continuity, grade and upside at the Alexandra Poniente zone, the issuance of an updated Mineral Resource statement, and the contemplated development of greenfield targets and expected reduction in permitting risk. 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.

Table 1: Summary of Alexandra Poniente Drill Hole Results

Notes:

1. TREY = Total rare earth plus yttrium
2. Dy + Tb = Dysprosium plus terbium
3. Pr + Nd = Praseodymium plus neodymium
4. * = Mineralization open at depth
5. The boreholes in bold letters are shown in cross sections
6. All holes are vertical and interval thickness approximates true thickness.
7. All intersections within the Penco Property boundary

SOURCE: Aclara Resources Inc.