Rare Earth Discovery in Saskatchewan Adds Fuel to Global Race for Critical Minerals

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Terra Clean Energy Corp. (TCEC:CSE; TCEFF:OTC; C900:FSE) announced confirmation of rare earth element (REE) potential at its Fraser Lakes B Deposit within the South Falcon East Project in Saskatchewan, Canada. The company said the presence of light rare earth oxides, including lanthanum oxide (La₂O₃), cerium oxide (Ce₂O₃), ytterbium oxide (Yb₂O₃), and yttrium oxide (Y₂O₃), has been verified through drilling and assay results as outlined in a technical report filed under the company's profile on SEDAR+ on February 9, 2023.

The Fraser Lakes B Deposit, located approximately 50 kilometers east of the Key Lake Mill and 18 kilometers outside the Athabasca Basin margin, covers roughly 12,464 hectares. According to the company, uranium and thorium mineralization at the deposit is hosted in shallow metasedimentary rocks and pegmatites with basement-hosted characteristics typical of the region. The area benefits from strong infrastructure, with road access and a power line located about 10 kilometers from the property.

Terra noted that these REEs are essential to numerous modern technologies, from batteries and catalysts to LED displays and lasers. The company's CEO, Greg Cameron, said in a news release that "with renewed interest in rare earth elements, it is important that shareholders understand we are sitting on an active REE deposit." He added that management "is committed to making sure this value is understood and unlocked as we continue with the ongoing development of our uranium deposit at Fraser Lakes."

Vice President of Exploration Trevor Perkins added, "With the current emphasis on REE, it is time to highlight this aspect of our Fraser Lakes B Uranium and REE Deposit. We are sure that with continued drilling and study of the Fraser Lakes B deposit, we will add to both the uranium and REE resource."

The Fraser Lakes B Deposit is listed as an active Government of Canada rare earth deposit and forms part of a multiyear Natural Resources Canada study on REEs in northeastern Saskatchewan. Through a 2024 NRC grant to the University of Saskatchewan, Terra is a participating partner in the ongoing research, which continues to identify REE mineralization through drilling programs.

The South Falcon East Project also hosts a historic mineral resource of 6.9 million pounds of uranium (U₃O₈) inferred at a grade of 0.03% and 5.3 million pounds of thorium oxide (ThO₂) inferred at a grade of 0.023%, as described in a 2015 technical report filed by Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE). While not treating the resource as current, Terra believes the data provides valuable context for future exploration work.

Global Trade Tensions Reshape Rare Earth Supply Chains

According to a report from Seeking Alpha on October 13, global rare earth stocks surged following China's decision to tighten export restrictions. The move prompted widespread concern about potential supply disruptions in the semiconductor and electric vehicle industries. The report explained that "rare earths are crucial to high-tech industries ranging from EVs to defense systems," and that the United States had "allowed itself to become too reliant on unreliable sources of critical minerals." With China producing about 90% of the world's rare earth products, efforts to diversify supply chains have accelerated internationally.

The following day, CNBC reported that China's Ministry of Commerce imposed sweeping controls on rare earth exports for military use, a move analysts said could significantly impact U.S. defense production. Gracelin Baskaran, a critical minerals expert at the Center for Strategic and International Studies, told the outlet that the restrictions "undermined the development of the defense industrial base at a time when there is rising global tension."

The report stated that rare earth magnets are vital components in U.S. defense systems, including fighter jets, submarines, drones, and missiles. Data from the U.S. Geological Survey showed the United States relied on China for around 70% of its rare earth imports, while the International Energy Agency estimated that China controlled 60% of mining and over 90% of refining capacity worldwide.

Wharton professor Jeremy Siegel said it was "scandalous that we don't have a rare earths strategic reserve," citing the country's dependence on foreign refining. Analysts at Wolfe Research described China's new licensing rules as "massively disruptive," noting that they could affect multiple sectors if strictly enforced, including defense, semiconductors, and automotive manufacturing. Economists such as Alicia Garcia Herrero from Natixis pointed out that U.S. companies like Apple, Nvidia, and major automakers were highly exposed to the potential disruptions.

Meanwhile, Global Market Insights wrote later that same day that investor attention had also turned toward uranium and rare earth elements amid "increasing demand as nations strive for cleaner energy solutions." The article said companies active in both uranium and rare earth extraction saw heightened market interest as supply constraints and geopolitical shifts drove prices higher. This combination of factors underscored the importance of critical mineral independence, particularly as governments and private industries sought to secure reliable domestic sources.

Expanding Resource Potential and Strategic Positioning

Terra's September 2025 investor presentation emphasized that the company is the only microcap operating in both the Athabasca Basin and Utah's San Rafael Swell with near-surface uranium exposure. The presentation described the Fraser Lakes B Deposit as having "exceptional exploration potential," including six target-rich areas beyond the current zone. Results from the company's 2025 winter drilling program showed uranium mineralization in six of seven holes, with four holes containing the widest intervals and highest grades reported on the property to date.

The company's strategic position is strengthened by its experienced management team, which includes executives with prior uranium discovery success and capital market expertise. According to the presentation, Terra is well-positioned to advance exploration in two jurisdictions with established infrastructure and regulatory frameworks.

With the global push for energy transition and the increasing demand for both uranium and rare earth elements, Terra Clean Energy Corp.'s combination of uranium and REE exposure at Fraser Lakes B provides diversification within two critical supply chains. The company continues to focus on exploration within the Athabasca Basin while participating in Canada's broader efforts to expand domestic rare earth inventories.

Ownership and Share Structure

Insiders and management own about 12% of the company and institutions owned 20%, the company said. The rest is in retail.

Terra Clean Energy has 36.33 million outstanding shares and its market cap is CA$5.11 million. Its 52-week range is CA$0.07–CA$0.36 per share.