Vancouver, British Columbia - Newsfile Corp. - July 23, 2026 - RZOLV Technologies Inc. (TSXV: RZL) (OTCQB: RZOLF) (FSE: S711) ("RZOLV" or the "Company") is pleased to announce that it has entered into a non-binding Letter of Intent ("LOI") dated July 15, 2026 with Alkemio Bioscience Corporation ("Alkemio") to establish a strategic collaboration aimed at advancing the development, validation and potential commercialization of an integrated modular rare earth and critical minerals recovery platform.

Alkemio is an Argentina-based deep tech company developing a modular rare earth separation and refining platform based on selective media and molecular-recognition technology. Its platform is intended to adapt to varied rare earth sources and enable selective capture, purification and upgrading of dissolved rare earth elements into higher-value products. Laboratory results indicate recovery efficiencies above 87% under controlled conditions. The modular configuration is designed to reduce processing stages and physical footprint compared to conventional solvent extraction methods.

The proposed strategic collaboration is intended to combine two complementary technology platforms across the rare earth and critical minerals value chain:

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• - RZOLV would provide its proprietary hydrometallurgical platform to unlock and mobilize rare earth elements and associated critical minerals from complex feedstocks, optimize extraction performance, and generate stable, conditioned process solutions; and
  
• - Alkemio would provide its molecular-recognition platform to selectively separate, purify, refine and upgrade the dissolved metals into higher-value products.
  

The objective is to integrate, develop, and validate the combined technologies as a complete modular processing pathway capable of unlocking, selectively recovering, separating, and upgrading rare earth elements and associated critical minerals from selected primary and secondary feedstocks, while establishing the technical, operational, and economic basis for pilot-scale demonstration and commercial deployment.

The strategic rationale underlying the LOI is straightforward: RZOLV unlocks and mobilizes the metals. Alkemio separates, upgrades and refines them. Together, the companies intend to evaluate a more complete, modular and potentially source-adjacent commercialization pathway extending from complex feedstocks through to separated rare earth products.

Building a Strategic Critical Minerals Commercialization Platform

Commercializing rare earth and critical-mineral technologies requires more than identifying or mining a resource. Valuable metals must first be unlocked from complex feedstocks and transferred into controlled, stable process solutions. Those solutions must then be selectively separated and upgraded into products that meet downstream market requirements.

Conventional rare earth refining can involve large centralized facilities, multiple solvent-extraction stages, significant reagent inventories and highly feed-specific process designs. These characteristics can make conventional refining difficult to deploy economically at smaller projects, remote mines, recycling operations or industrial-residue sites.

By combining RZOLV's proprietary hydrometallurgical platform with Alkemio's downstream separation and refining technology, the companies aim to address both ends of the processing chain and build a project-specific pathway toward pilot validation, licensing and commercial deployment.

Alkemio's Molecular-Recognition Separation Technology

Alkemio is developing a modular rare earth separation and refining platform based on selective media and molecular-recognition technology.

Because rare earth elements exhibit similar chemical behaviour in solution, selective separation can be technically challenging. Alkemio's approach is intended to create selective binding environments for targeted ions and enable modular recovery and product upgrading from appropriately conditioned process solutions.

Alkemio's modular molecular-recognition platform intended to materially reduce the footprint and capital intensity of conventional rare earth separation while enabling resource owners to retain a greater portion of downstream product value. Alkemio publicly reports development targets that include facilities up to 200 times smaller, potential separation-circuit capital reductions of up to 80%, and potential incremental profit improvements for participating miners of up to 50%. These targets are based on Alkemio's internal estimates and remain subject to confirmation through feed-specific testing, engineering, scale-up and independent economic validation.

Alkemio's Capabilities and International Recognition

Alkemio has assembled a multidisciplinary team with experience in rare earth separation, hydrometallurgy, molecular science, chemistry, process design, engineering and technology commercialization.

Alkemio reports international recognition through UC Berkeley SkyDeck, Cleantech Group's LATAM Cleantech 25, Hello Tomorrow's Deep Tech Pioneer program and other innovation platforms.

Duane Nelson, President and Chief Executive Officer of RZOLV Technologies, commented: "This LOI is an important step in forging a strategic relationship with Alkemio and advancing RZOLV's commercialization strategy in rare earths and critical minerals. RZOLV's proprietary hydrometallurgical platform is designed to unlock and mobilize metals from complex feedstocks, optimize extraction performance, and generate stable process solutions for downstream recovery.

"Alkemio's complementary molecular-recognition technology could extend that capability through selective separation, refining and product upgrading. Together, we intend to evaluate a more complete modular platform and, if supported by the results, advance toward project-specific pilots, licensing and commercial deployment."

Angel Centeno, Chief Executive Officer of Alkemio, commented: "RZOLV's ability to unlock rare earths and associated critical minerals from complex feedstocks and produce stable, conditioned process solutions addresses a key requirement for effective downstream separation.

"Combining RZOLV's extraction platform with Alkemio's molecular-recognition technology creates an opportunity to evaluate integrated solutions for selected feedstocks and build a disciplined pathway toward joint development and commercialization."

Potential Commercialization Pathway

If the collaboration produces positive results, RZOLV and Alkemio may consider negotiating one or more subsequent arrangements, including:

• A Joint Development Agreement;
• A project-specific pilot agreement;
• A project-specific special-purpose vehicle;
• A commercial joint venture;
• Technology licensing, supply or customer-specific deployment agreements.

Any future development, funding or commercialization arrangements will remain subject to definitive written agreements.

About Alkemio

Alkemio is an Argentina-based deep tech company developing a modular rare earth separation and refining platform based on selective media and molecular-recognition technology. Its platform is intended to adapt to varied rare earth sources and enable selective capture, purification and upgrading of dissolved rare earth elements into higher-value products. Laboratory results indicate recovery efficiencies above 87% under controlled conditions. The modular configuration is designed to reduce processing stages and physical footprint compared to conventional solvent extraction methods.

Alkemio's multidisciplinary team combines experience in rare earth separation, hydrometallurgy, molecular science, chemistry, engineering, process scale-up and technology commercialization. The company has received international recognition through cleantech, deep-tech, academic and corporate innovation programs.

About RZOLV Technologies Inc.

RZOLV Technologies Inc. is developing and commercializing a proprietary non-cyanide aqueous regenerative hydrometallurgical platform for the recovery of precious metals, base metals and selected critical minerals from ores, concentrates, tailings, spent process materials and secondary resources.

RZOLV's platform is designed around controlled dissolution, complexation, pH and ORP management, downstream metal recovery and closed-loop solution management. The Company is advancing strategic relationships and project-specific validation programs intended to support commercialization across precious metals, base metals, critical minerals, and rare earth elements (REEs) where conventional processing may be constrained by metallurgy, environmental requirements, capital intensity or permitting considerations.

For further information, please contact:
Duane Nelson
President & CEO
RZOLV Technologies Inc.
Tel: +1-604-332-2662
Email: duane@rzolv.com

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning the proposed strategic collaboration between RZOLV and Alkemio; the selection and availability of candidate feedstocks; the ability of RZOLV to dissolve or mobilize rare earth elements and associated critical minerals and generate stable or suitable process solutions; the ability of Alkemio to selectively capture, separate, purify, concentrate or upgrade rare earth elements from RZOLV-generated solutions; the potential development of an integrated modular rare earth and critical minerals recovery flowsheet; the potential negotiation of a Joint Development Agreement, pilot agreement, joint venture, special-purpose vehicle, licensing, supply or customer-specific deployment arrangement or other commercial structure; and the potential technical, economic, environmental, strategic or commercial benefits of the proposed collaboration.

Forward-looking information is based on management's current expectations, estimates, assumptions and projections and is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These risks include, among others, the possibility that suitable feedstocks will not be identified or made available; that testwork will not demonstrate acceptable dissolution, selectivity, solution stability, impurity management, media compatibility, product quality or reagent performance; that laboratory results will not be replicated at pilot or commercial scale; that additional conditioning or processing stages will be required; that process economics will not support commercialization; that environmental, safety, radionuclide, residue-management, water-treatment or permitting requirements will be more extensive than anticipated; that the parties will not agree upon future budgets, intellectual-property rights, cost sharing, exclusivity or commercial terms; or that the LOI will be terminated without further agreement.

The combined RZOLV-Alkemio process has not been commercially demonstrated. Technical performance, recovery, selectivity, capital and operating costs, environmental benefits, product quality and commercial viability will be feed-specific and must be established through representative testwork, engineering, pilot-scale validation and independent review. Readers should not place undue reliance on forward-looking information. RZOLV undertakes no obligation to update forward-looking information except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.