E-Tech Resources Inc. has announced its acquisition of an 85% interest in Exclusive Prospecting License 8748 in Namibia, expanding its resource potential in the Eureka Dome region known for rich rare earth element deposits.

Target Information

E-Tech Resources Inc. ("E-Tech" or the "Company") has entered into a definitive agreement to acquire an 85% interest in Exclusive Prospecting License 8748 ("EPL 8748") located in the Erongo Mining Corridor of Namibia. This license adjoins the Company’s existing 100% owned Exclusive Prospecting License 6762 ("EPL 6762"). The acquisition is being made from a Namibian citizen on an arm’s length basis through E-Tech Kalapuse Mining (Pty) Ltd., E-Tech’s wholly owned subsidiary in Namibia.

EPL 8748 covers an area of 165.2 km² and includes a significant part of the Eureka Dome—a geological formation known for its rare earth element (REE) deposits. Zones 1 to 4 on EPL 6762, which encompasses approximately 1 km², are part of this dome, which spans roughly 12.5 km in length and 6 km in width, impacting a total area of about 56 km². A significant portion of the Eureka Dome, approximately 35.3 km², lies within EPL 8748.

Industry Overview in Namibia

Namibia has rapidly emerged as a key player in the global mining industry, particularly in the field of rare earth elements (REE). The country boasts a unique geological landscape rich in mineral resources, and its supportive regulatory environment has attr