ReeXploration (TSXV:REE,FSE:KSi) is a discovery-focused critical minerals company advancing the Eureka rare earths project in Namibia. Strategically positioned, it taps into surging demand for critical minerals and the global push to diversify supply chains beyond China. The company offers early exposure to a generational supply chain shift, advancing a premier African rare earths discovery in a stable, mining-friendly jurisdiction.

Its metallurgy-first strategy derisks development by proving processability upfront, with tests confirming clean, Western-standard monazite concentrate — laying a strong foundation for scale.

The Eureka Project is the cornerstone of ReeXploration’s growth strategy and a foundation for Western-aligned rare earths supply. Eureka’s geology, technical foundation, and location combine to make it a standout rare earths asset in Africa, offering early proof of processability, a clean mineralogy aligned with Western standards, and room for significant resource growth.

Company Highlights

• Strategic Exposure: Positioned at the heart of the global critical minerals transformation as governments race to diversify supply chains away from China.
• Proven Technical Base: Metallurgy-first strategy has already demonstrated clean, Western-standard concentrate production from monazite-hosted mineralization, reducing risk and accelerating timelines.
• High-grade Discovery: Eureka hosts a maiden resource of ~310,000 tonnes @ 4.8 percent total rare earth oxides (TREO), with multiple undrilled anomalies and clear expansion potential.
• Jurisdictional Advantage: Operating in Namibia, one of Africa’s most stable, mining-friendly jurisdictions with world-class infrastructure and transparent regulations.
• Disciplined Value Model: Advances assets through discovery and early development, where re-rating potential is highest, while preserving capital efficiency and ESG integrity.

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Investor Insight

ReeXploration offers investors early exposure to the global build-out of secure, Western-aligned critical minerals supply chains. Leveraging proven metallurgy and discovery upside at its high-grade Eureka project in Namibia, the company delivers a rare combination of technical credibility, jurisdictional stability and responsible growth potential.

Overview

ReeXploration (TSXV:REE,FSE:KSi) is a discovery-driven critical minerals company advancing the Eureka rare earths project in central Namibia. The company sits at the intersection of two powerful global forces: the accelerating demand for critical minerals and the urgent drive to diversify supply chains away from China’s dominance in processing and production.

As electrification, renewable energy and defense technologies expand worldwide, governments and industry are investing heavily to secure new, transparent sources of essential materials, such as neodymium and praseodymium. ReeXploration provides investors early exposure to this generational realignment by advancing one of Africa’s most promising rare earths discoveries within a stable, mining-friendly jurisdiction.

The company’s metallurgy-first model flips the conventional exploration sequence by proving processability before scale. Bench-scale testing confirmed that Eureka’s monazite-hosted mineralization yields a clean, Western-standard concentrate, which derisks processing and establishes a strong foundation for growth.

ReeXploration’s Namibian-based technical team, supported by globally recognized critical-minerals experts, ensures efficient on-the-ground execution, strong stakeholder relationships, and alignment with Namibia’s national development priorities. Its ESG principles, centered on low-radioactivity mineralogy, transparent community engagement and environmental stewardship, position the company as a partner of choice for governments and end-users seeking secure, sustainable supply chains.

Company Highlights

• Strategic Exposure: Positioned at the heart of the global critical minerals transformation as governments race to diversify supply chains away from China.
• Proven Technical Base: Metallurgy-first strategy has already demonstrated clean, Western-standard concentrate production from monazite-hosted mineralization, reducing risk and accelerating timelines.
• High-grade Discovery: Eureka hosts a maiden resource of ~310,000 tonnes @ 4.8 percent total rare earth oxides (TREO), with multiple undrilled anomalies and clear expansion potential.
• Jurisdictional Advantage: Operating in Namibia, one of Africa’s most stable, mining-friendly jurisdictions with world-class infrastructure and transparent regulations.
• Disciplined Value Model: Advances assets through discovery and early development, where re-rating potential is highest, while preserving capital efficiency and ESG integrity.

Key Project: Eureka Rare Earths Project

Located near Usakos in central Namibia, the Eureka Project is the cornerstone of ReeXploration’s growth strategy and a foundation for Western-aligned rare earths supply.

Namibia is widely recognized as one of Africa’s most stable and mining-friendly jurisdictions, with transparent regulations, strong rule of law and a skilled workforce rooted in decades of uranium and diamond production. Its established infrastructure, including paved roads, rail, power, water and port access, provides a low-risk operating environment rarely matched elsewhere in the critical minerals sector.

Eureka’s geology, technical foundation, and location combine to make it a standout rare earths asset in Africa, offering early proof of processability, a clean mineralogy aligned with Western standards, and room for significant resource growth.

Project Highlights

• Resource Base: NI 43-101 resource of 310 kt @ 4.8 percent TREO (0.7 percent neodymium + praseodymium), anchored by magnet metals critical to EV, renewable energy and defense applications.
• Geology: Monazite-hosted carbonatite system with low impurities and low radioactivity across 14 identified dykes, open along strike and depth.
• Metallurgy: SGS testing confirmed production of a clean monazite concentrate grading ~60 percent TREO at ~65 percent recovery, with neodymium and praseodymium representing ~50 percent of basket value.
• Exploration Upside: 13 km x 6 km mineralized dome with multiple geochemical and radiometric anomalies; trenching shows REE mineralization in 18 of 19 trenches. Follow-up drilling is underway to expand known zones.
• Infrastructure: Situated 2 km from the Trans-Kalahari Highway with access to rail, power, water and the deep-water port at Walvis Bay, minimizing capital requirements and execution risk.
• ESG Integration: Low-radioactivity mineralogy simplifies permitting; environmental clearance certificates are in place; and ongoing engagement ensures alignment with community and government priorities.

Management Team

Chris Drysdale – Interim CEO

Chris Drysdale is an experienced mining executive and the current CEO of Antler Gold. He has international experience in exploration management and business development across Africa and Canada.

Patrick McGrath – Chief Financial Officer

A CPA with extensive financial experience in mining and energy exploration, Patrick McGrath brings strong governance and capital markets expertise, ensuring disciplined execution and shareholder value creation.

Prof. Frances Wall – Director

Professor of Applied Mineralogy, Camborne School of Mines at the University of Exeter, Frances Wall has more than 30 years of research linking geology, mineralogy and responsible sourcing. She is the chair of the British Geological Survey Science Advisory Committee and member of the UK Critical Minerals Expert Committee.

Carl Sheppard – Director

Carl Sheppard is the president and managing partner of Strategic Concepts. He holds a Masters in Development Economics from Dalhousie University, and contributes strategic insight into sustainable growth and stakeholder engagement.

Tolene Kruger – Senior Geologist & Qualified Person

Tolene Kruger is a Namibian geologist with an MSc in Geology from the University of Stellenbosch. Her research focus is on structural controls on mineralization within Namibia’s uranium corridor.

The AI-energy nexus and its investment implications

Kahn underscored a transformative dynamic in the investment landscape: AI’s rapid expansion is driving substantial new energy requirements that existing infrastructure must be ready to accommodate. This convergence creates both risk and opportunity for sustainable investors.

Renewable energy emerges as the fastest and most economically viable option to meet AI’s surging electricity demand.

“If hyperscalers want to have massive data centers, the quickest path to that is going to be deploying renewable energy. Whether that’s in front of the meter or behind the meter, that is the quickest and cheapest way of getting energy,” Kahn said

“There’s still been a lot of talk about nuclear. There’s opportunity there, as well as (with) gas-fired power plants, but those are long-dated situations,” he added, along with challenges around fuel supply. “The quickest way to get power up and running is going to be renewables, and that includes wind. Wind is economical. These projects finance themselves with or without tax credits.”

Khan also cited solar, biofuels and geothermal as cornerstones in this transitioning energy mix. Underlying this transition is a strong demand for the industrial and materials sectors supplying the essential components for renewable infrastructure.

The AI-energy nexus calls for expanded thematic investments, distinct from traditional ESG-focused strategies focused on addressing climate resilience, energy efficiency and industrial transformation related to AI’s pervasive role.

“From a portfolio management and factor management perspective, I have to consider how overweight I am to a factor such as industry, and then an overweight sector, such as industrials and materials. So that becomes a challenge, because that’s where there are a lot of great opportunities, but you know, you have to be very choosy.”

Kahn emphasized the importance of focusing on “core” technology segments, such as fuel enrichment and water quality measurement, which may offer more stable, structural demand and lower volatility compared to early-stage growth technologies.

Reflecting market evolution, Kahn highlighted the growing prominence of infrastructure funds and alternative investment vehicles beyond traditional equities for capturing these themes.

Ongoing innovation in public equities expanding access to smaller growth companies represents a critical frontier for investors seeking exposure to early-stage innovations within the broader energy transition.

Managing portfolio challenges amid technological and geopolitical uncertainty

One key risk Kahn highlights is the potential for slower-than-expected adoption of AI technologies to transform the industrial economy. In this uncertainty, there is also caution against overexposure to assets that might become stranded if energy demand or technology shifts deviate from expectations.

To mitigate this, Shelton Capital focuses on investing in “core” technologies that underlie energy infrastructure and climate solutions, such as fuel enrichment processes and water quality measurement. Climate adaptation sectors like agriculture also feature prominently, reflecting their frontline role in managing climate risks.

Kahn also acknowledges that short-term market volatility and policy shifts create noise, but says they are unlikely to alter the long-term investment trajectory.

“All the data suggests that companies don’t invest balance sheet capital based on four-year or even two-year political wins; they’re investing for 10, 15, 20 years,” he noted. This long-term horizon requires patient, disciplined capital deployment.

“We’re talking to the CEOs of these companies and asking them what their capital plans are. They are not pausing their sustainability initiatives because they’ve proven to themselves that this is a driver of profitability.”

Shelton Capital employs a bottom-up investing philosophy grounded in carefully selected sustainability themes aligned with resilience, human well-being and technological innovation. ESG analysis is integrated as a foundational layer within a broader thematic framework, enabling a comprehensive view of company operations and their contribution to sustainability goals.

Looking ahead: Trends and priorities for COP30 and beyond

COP30 represents a pivotal moment to recognize the intertwined nature of technology advancement, energy infrastructure and climate imperatives.

The immense energy footprint driven by AI technologies presents both daunting challenges and tremendous opportunities within the global climate agenda. The geography of renewable energy deployment is also evolving swiftly, with emerging markets playing a critical role in driving global capacity growth.

“While we may be hamstrung now in the US in the short term, renewable energy is being deployed all over the rest of the world at huge scales,” said Kahn.

Sustainable investment has also emerged as a critical lever to mobilize capital in support of the values of newer generations. Kahn described how deeply embedded sustainability values and significant upcoming wealth transfers position Gen Z and millennials as key drivers of market transformation.

“They’re what I refer to as sustainability native,” he explained. “They kind of came to it naturally. It wasn’t forced on them.

“They are going to have a lot of power, from an investment standpoint, to shape markets, and markets respond to capital,” he added.

Effective climate investing requires a multi-sector, multi-asset approach spanning equity, debt, real estate, commodities and real assets. Investor education and sophisticated portfolio diversification will be pivotal in shaping the future market environment, equipping investors and advisors to align capital with evolving sustainability goals and technological advancement.

Investment managers and advisors must navigate these complexities with agility and insight, steering capital to solutions that drive both financial returns and transformative impact.

As the AI-energy nexus continues to redefine the investment landscape, aligning capital with long-term climate imperatives is no longer optional; it is the blueprint for future value creation.