Perpetual Resources has acquired an option over the Raptor Rare Earth Project in Brazil's Caldeira Rare Earth Complex.

The move includes a binding term sheet covering mineral rights for rare earth elements, niobium, and scandium across four exploratory tenements totaling 380 hectares near the Caldeira Project of Meteoric Resources.

The acquired licenses are not in environmental protection zones. Perpetual plans immediate due diligence, starting with sampling and drilling after a reconnaissance program in May.

Perpetual aims to strengthen its presence in Minas Gerais, known for hosting Tier 1 orebodies including rare earth and lithium, within a supportive regulatory framework.