Cashu Research initiates coverage of Mount Ridley Mines (ASX: MRD), owner of the world's largest scandium resource

Days after the US committed up to US$400 million to a rival scandium project, Mount Ridley's 26 August upgrade makes Grass Patch the largest scandium resource on record, per the company

SYDNEY, Aug. 26, 2026 (GLOBE NEWSWIRE) -- Cashu Group's research division, Cashu Research, today initiated equity research coverage on Mount Ridley Mines Limited (ASX: MRD) following the company's 26 August scandium resource upgrade at its Grass Patch project in Western Australia.

The timing is striking. Scandium is one of the world's most strategically critical minerals, used in defence alloys, aerospace and fuel cells, yet supply is dominated by China. On 7 August the US Department of War committed up to US$400 million to the rival Syerston project, owned by Sunrise Energy Metals (ASX: SRL). Weeks later, Mount Ridley upgraded Grass Patch to 946Mt at 50.1ppm for 47,357 tonnes of contained scandium, the largest under the JORC Code and, on Cashu Research's estimates, about 2.5 times Syerston.

A critical minerals asset the West needs

Grass Patch hosts scandium, gallium and heavy rare earths together, all US-designated critical minerals with China-dominated supply, 25km from the deepwater port of Esperance in a Five Eyes jurisdiction. The report sets the resource against a market where demand is forecast to grow sharply while Western supply stays near zero.

It also reviews the wholly owned Selectro™ leach process, which returned 80% scandium recovery in initial testwork alongside gallium and rare earths, and how it compares with peers.

The full Mount Ridley Mines scandium resource research report, including the resource breakdown, peer comparisons and key risks, is available now.

This report was commissioned and paid for by Mount Ridley Mines Limited. Cashu Research provides general financial product advice only, without reference to readers' objectives or financial situation. Readers should review the full disclosures and the company's ASX announcements before investing.

About Cashu Research

Cashu Research is a division of Cashu Group, delivering independent equity research and investor awareness campaigns for ASX, TSX, OTC and NASDAQ-listed resources companies. Cashu Research is a Corporate Authorised Representative (AR No. 001318029) of Adviser Solutions Group Pty Ltd (AFSL 485946).

About Mount Ridley Mines

Mount Ridley Mines Limited (ASX: MRD) is advancing the Grass Patch scandium, gallium and rare earth project near Esperance, Western Australia.

Media Contact

Fox Slotemaker, Lead Analyst
Cashu Research
research@cashugroup.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/900edc9f-bb85-45f4-b012-e95778b24285

mount-ridley-mines-scandium-critical-minerals

Mount Ridley Mines (ASX: MRD) is advancing the world's largest publicly reported scandium resource at its Grass Patch project in Western Australia