Aclara Resources Updates Mineral Resource for the Carina Module, Penco Project

Increased Mineral Resource Estimates and Potential for Heavy Rare Earths

Exciting Exploration Updates and Positive Outcomes for the Future

Toronto, ON – November 9, 2023 – Aclara Resources Inc. (TSXV: ACLA) ("Aclara" or the "Company") is pleased to announce an updated mineral resource estimate for the Carina Module of the Penco Project, located in the southeastern Peruvian Andes.

The updated mineral resource estimate for the Carina Module spans approximately 1400 hectares with significant potential for rare earth elements (REE). The inferred mineral resource is estimated at 298 Mt, representing an impressive 77% increase compared to previous estimates.

Importantly, the Carina Module deposit exhibits promising indications of containing substantial quantities of dysprosium, a critical heavy rare earth element. This discovery has the potential to revolutionize the supply of heavy rare earths, which are vital for modern technologies such as electric vehicles, renewable energy systems, and defense applications.

"We are delighted with the outcomes of Aclara's latest RC drilling campaign," stated Aclara Resources CEO, Pablo Arienti. "Our exploration efforts have validated our belief in the exceptional potential of the Carina Module. The elevated mineral resource estimates and the presence of dysprosium represent significant milestones for Aclara and the future of rare earth mining."