US Critical Materials Announces Signing of Definitive Agreement with VerAI Discoveries, Inc.

Artificial intelligence technology will help accelerate environmentally responsible exploration activities at the Sheep Creek, Montana Rare Earth Properties

SALT LAKE CITY, July 31, 2024 /PRNewswire/ -- US Critical Materials Corp. has announced that it has signed a definitive agreement with VerAI Discoveries Inc. (VerAI), an artificial intelligence (AI) powered mineral discovery generator, to deploy its AI-Powered Mineral Targeting Platform. This technology enables a higher probability of success to detect minerals under covered terrain and to minimize surface disturbances at US Critical Materials' Sheep Creek rare earths properties in Montana.

The exploration partnership between US Critical Materials and VerAI leverages best-in-class technology to explore the covered terrain at the Sheep Creek Area of Interest (AOI), dramatically increasing the probability of success by 100x compared to industry benchmarks. This AOI boasts a rich geological landscape, validated by confirmation from Idaho National Laboratory and independent geophysical surveys. With VerAI's AI-powered mineral targeting technology, US Critical Materials intends to set new industry standards for environmentally conscious mineral exploration activities, providing the unique opportunity to bring rare earth elements to the market in their purest form, which is vital for the green energy transition.

Jim Hedrick, President of US Critical Materials, and former rare earths commodity specialist for the U.S. Geological Survey (USGS), stated, "The addition of this AI/ML technology will augment US Critical Materials' current exploration methodologies. We are pleased to have signed a definitive agreement with VerAI Discoveries to utilize its next-generation AI technology and unique capabilities to discover high-probability targets under covered terrain."

Hedrick continued, "AI-assisted mineral exploration platforms are beginning to be recognized by the mining industry and major media outlets. The Defense Advanced Research Projects Agency (DARPA) also is looking at AI-assisted mining to expedite the search for critical minerals needed for US industry, consumer use, and, most importantly, the US military."

US Critical Materials latest samples show total rare earth elements (TREE) readings up to 20.1%, with combined neodymium praseodymium up to 3.3 %. US Critical Materials also has gallium readings that are as high as 490 ppm (parts per million). Gallium is profitable to produce at 50 ppm. The company believes there is substantial tonnage at Sheep Creek and expects to find more high-grade critical mineral locations using VerAI's innovative, artificial intelligence technology.

"VerAI is spearheading a paradigm shift in the exploration sector. We believe that AI and machine learning are essential tools for revolutionizing mineral exploration," stated Yair Frastai, CEO of VerAI Discoveries. "With this definitive agreement, US Critical Materials is proving its forward-thinking approach by leveraging our advanced AI-based targeting technology to systematically de-risk the economics of discovering concealed mineral deposits."

Both companies recognize the commitment and responsibility to protect all aspects of the environment in the Bitterroot Valley.

US Critical Materials and VerAI also believe that the ability to accelerate the discovery of vital rare earth and other critical minerals is important for securing self-sufficiency for our nation's security, considering China's stranglehold on these materials.

About US Critical Materials Corp.
US Critical Materials Corp. is a private rare earths exploration, development and process technology company based in Salt Lake City, Utah with holdings in Montana and Idaho. The mineral deposits held by US Critical Materials in Montana are unique due to their high grades of rare earths, low levels of thorium, and large numbers of surface carbonatites. The Sheep Creek deposits contain some of the highest grades of rare earth minerals in the United States including at least thirteen of the currently listed "critical" minerals. The company has also funded a collaboration with Idaho National Laboratory to create an environmentally responsible mineral extraction, separation, and process method.

As US Critical Materials progresses in its mission to bolster national security and technological independence the company remains dedicated to fostering partnerships, advancing sustainable practices, and contributing to the economic vitality of local communities.

About VerAI Discoveries, Inc.
VerAI Discoveries (VerAI) is an AI-powered mineral asset generator focused on uncovering essential critical minerals for the green energy transition and a sustainable future. Their mission involves working with partners to target new mineral discoveries in covered terrain within advanced jurisdictions that remain largely unexplored. By deploying their novel proprietary AI/ML Discovery Platform, VerAI significantly increases the probability of discovering substantial mineral deposits of different commodities and in various geological jurisdictions, shortens targeting time, and reduces exploration costs. For more information, visit https://ver-ai.com/. 

Contact:

Rubenstein Public Relations
Brigit Hennaman, Vice President
(212) 805-3005
[email protected]

US Critical Materials Corp
Rachel Winn, Director of Operations
(801) 322-3401
[email protected]
website: www.uscriticalmaterials.com

VerAI Discoveries
Amie Cavarra, Communications Manager
(303) 358-5452
[email protected]
LinkedIn: @verai

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SOURCE US Critical Materials Corp