Tyranna Resources to acquire 70% Coola Project interest

• Tyranna Resources signed an agreement to acquire up to a 70% interest in the Coola Rare Earths and Niobium Project in Angola.
• The transaction allows the company to expand its exploration footprint across demand-driven minerals in Africa.
• Tyranna Resources intends to fund planned exploration activities to earn its target stake in the project.

Tyranna Resources (ASX:TYX) entered an agreement to acquire up to a 70% interest in the Coola Rare Earths and Niobium Project located in Angola.

The agreement marks an expansion of the company's existing mineral exploration activities in the region.

"Currently two rare earth mines are under construction in Angola, paving the way for the country to become a future major global supplier," said Tyranna Resources Managing Director David Crook.

Under the terms of the deal, the business can earn its majority interest by funding staged exploration expenditures across the project area.

The company stated that the project acquisition will support its strategy to secure critical metals required for global markets.

Following the announcement, the Tyranna Resources share price was unchanged at $0.002.

Tyranna Resources is an Australian exploration company focused on discovering critical minerals and battery metals.