E-Tech Resources Commences Trenching at Its Rare Earth Eureka Tenement in Namibia and Confirms New Rare Earth Prospects

Halifax, Nova Scotia--(Newsfile Corp. - February 26, 2024) - E-Tech Resources Inc. (TSXV: REE) (FSE: K2i) ("E-Tech" or the "Company") is pleased to announce that its trenching program on the  100%-owned Eureka project on Exclusive Prospecting License (“EPL”) 6762 in Namibia has commenced.  

The main objective of the trenching program is to test new targets identified by the 2023 regional soil geochemical survey. Further, trenching is planned in a way to better define the orientation and structural setting of mineralized zones prior to starting a proposed drilling campaign. The program was initiated on February 22.  As of February 26, 10 trenches for a total of approximately 400 m were dug and all have intercepted multiple zones of monazite mineralization.  

“We continue to pursue a methodical and systematic exploration strategy as we advance our understanding of the Eureka property and identify new high-priority drill targets,” said CEO Todd Burlingame. “Our initial focus is to test new targets on a regional scale identified through the 2023 exploration program and use the results to further refine our targeting methodology prior to finalizing a proposed drill program. Visual inspection shows the presence of rare earth mineralization in the form of monazite bearing calc-silicate mineralization similar to those found in the discovery zones in trenches in targets located outside of the original Eureka Central Prospect, thus supporting the new geological concept.”

Trenching Program

The focused Phase 1 trenching program will initially include 15 trenches planned for a total length of 629 m. The trenches cover the prospects Eureka East, North (T9), Northeast (T15) and T16 and new areas identified by geological reconnaissance and the 2023 systematic regional soil sampling program. 

The trenching program is managed by Gecko Exploration and aims at identifying rare earth mineralization in bedrock at the new regional prospects and, thus, increasing the prospectivity of E-Tech’s ground. Detailed geological and structural logging is conducted in the new trenches to identify lithological and structural elements controlling the calc-silicate hosted monazite mineralization which will further allow for focused prospecting of the tenements including the new EPL 8748. 

Geological logging has commenced and is ongoing.  Visual inspections of the trenches confirm rare earth mineralization in the form of coarse crystalline monazite hosted by zones of calc-silicate rock in all the trenches.

The trenching program is kept flexible to maximize the outcome. Continuous geological logging, structural mapping and sampling allows the field team to strategically position additional trenches throughout the program. At key intercepts, short trenches are dug in parallel to log the spatial setting of the mineralized zones, their geometry and relationship to the bedding of the host meta-sedimentary sequence and Damaran age foliation and structures. 

Regional-scale rare earth prospects on EPL 6762 currently under exploration by trenching

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E-Tech’s trenching program: Early visual inspection shows intercepted zones of rare earth mineralization. Gecko Exploration excavator at trench No.3 (left), E-Tech geo crew during initial mapping and structural interpretation of the monazite zone in trench No.5 at Eureka North prospect.

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About E-Tech Resources Inc.

E-Tech Resources Inc. (TSXV: REE) (FSE: K2I) is a rare earths exploration company focused on developing its Eureka Rare Earths Project in Namibia. Eureka represents a district-scale swarm of calc-silicate hosted monazite mineralization. 

The Eureka project is located approximately 250 km north-west of Namibia's capital city Windhoek and 140 km east of Namibia's main industrial port Walvis Bay. The project is crossed by the national B1 highway and right next to the main national railroad line. The Eureka project is based on EPL 6762. E-Tech has also entered into a definitive agreement to acquire an 85% interest in EPL 8748, which lies adjacent to and surrounds the Company’s EPL 6762.

Namibia is recognized as one of Africa's most politically stable jurisdictions, with an extremely well-established infrastructure and clear and transparent mining legislative and regulatory framework. 

Qualified Person

Keith Webb, BSc Honours in Applied Geology, is a Consulting Geologist with 37 years’ experience in the mining and exploration sector and has reviewed and approved the scientific and technical information in this news release. Mr. Webb is a Member of The Australasian Institute of Geoscientists (AIG) membership number: 3688, and a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  

Cautionary Statements

This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. E-Tech does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to E-Tech. Additional information identifying risks and uncertainties is contained in the filings made by E-Tech with Canadian securities regulators, which filings are available at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact Todd Burlingame, CEO of E-Tech Resources Inc., at (782) 409-5474.

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