North Stanmore: A Critical Asset for Western Heavy Rare Earth Security As geopolitical currents reshape global supply chains, the imperative for secure, non-Chinese sources of critical minerals has never been more pronounced. Victory Metals (ASX:VTM) is strategically positioned to address this challenge with its North Stanmore Project in Western Australia. Boasting a JORC-compliant resource with an industry-leading heavy rare earth (HREE) ratio and demonstrated metallurgical success for all seven China-restricted elements, North Stanmore is emerging as a pivotal asset for Western supply security. ## The Geopolitical Imperative: China's Export Restrictions and the NDAA Deadline The global landscape for rare earth elements shifted significantly in April 2025 when China implemented export license requirements for seven key rare earth elements. These elements – dysprosium, terbium, yttrium, scandium, samarium, gadolinium, and lutetium – are crucial for a wide array of high-tech and defense applications, from EV motors and wind turbines to aerospace alloys and advanced weaponry. This move by China underscores the vulnerability of global supply chains reliant on a single dominant producer. Compounding this urgency is the US National Defense Authorization Act (NDAA), which mandates that weapons systems must be free of Chinese rare earth components by January 2027. With approximately 250 days remaining from May 2026 until this critical deadline, the pressure to establish diversified and secure supply lines is intensifying. North Stanmore's demonstrated ability to extract all seven of these restricted elements positions it as a strategic alternative, directly addressing a critical national security and industrial resilience requirement for Western nations. ## North Stanmore: A Resource of Strategic Significance The North Stanmore Project, located 6 kilometres north of Cue, Western Australia, holds a 321 million tonne JORC-compliant clay-hosted heavy rare earth deposit. This resource stands out with an average heavy rare earth ratio of 39%, which is four times the industry average. This high concentration of HREEs is particularly significant given their scarcity and critical importance in high-performance applications. The project's robust JORC resource underpins a conservative mine life exceeding 60 years at planned throughput rates, as per company announcements. This longevity provides a stable, long-term supply outlook, a key factor for industries seeking to de-risk their material sourcing strategies. The deposit's substantial scale and high HREE ratio make it a globally significant asset in the context of critical minerals supply. ## Metallurgical Success: Extracting China's Restricted Seven Victory Metals has achieved significant metallurgical milestones at North Stanmore, demonstrating

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