Arizona Tribune - Deep Sea Rare Minerals, Inc. Receives NOAA Determination of "Substantial Compliance" Advancing Exploration License Application Process

NOAA's determination reflects the agency's conclusion that the Company's application satisfies the threshold regulatory criteria required to proceed through the next stages of the exploration licensing review process and establishes the Company's queue position within NOAA's review framework.

Requested Exploration Areas

The application submitted by DSRM received priority of right over areas totaling approximately 150,000 square kilometers. These areas are within portions of the Clarion-Clipperton Zone (CCZ) in the Central Pacific Ocean and in areas of the Western Pacific Ocean near Guam. These regions are widely recognized for their polymetallic nodules and are located beyond the jurisdiction of any coastal state, as determined under applicable U.S. law.

Concurrent Development and Planning Activities

Consistent with evolving U.S. policy initiatives supporting domestic access to critical minerals, DSRM is advancing a coordinated strategy that aligns the regulatory timeline with the engineering design and operational planning. By running these processes concurrently, DSRM has set a goal of recovering polymetallic nodules by 2028, subject to regulatory approvals, technical feasibility, environmental review, and financing.

In November 2025, the Company announced the commencement of front-end engineering design for a conceptual subsea collection and lifting system intended to support potential exploration and sampling activities, with an emphasis on environmental responsibility, operational efficiency, and reduced sea floor impact. Any manufacturing, deployment, or operational activities remain subject to regulatory review, permitting, and authorization. DSRM expects to begin manufacturing the deep sea mining equipment in early summer of this year, with the objective of completing the manufacturing and regulatory processes on a similar timeline. Subject to applicable regulatory requirements and authorizations, the Company intends to continue technical evaluation and data-collection activities using its HUGIN autonomous underwater vehicle systems.

Largest likely known source of Nickel and Cobalt

Deep-sea mining presents a compelling opportunity for companies seeking long-term access to critical minerals essential for electrification, renewable energy, and advanced manufacturing. Vast polymetallic nodule fields on the ocean floor contain high concentrations of cobalt and nickel - likely the largest known supply of these two metals on the planet - metals that underpin batteries, electric vehicles, grid storage, and clean-energy infrastructure. Industry and academic estimates have long cited the potential in-place value of these seabed resources at up to $20 trillion, underscoring their strategic and economic significance. When developed responsibly, deep-sea mining offers the prospect of a stable, diversified mineral supply with a smaller surface footprint than land-based operations, reduced deforestation and community displacement, and the ability to support global decarbonization goals while meeting surging demand for critical metals.

Priority of Right and Ongoing Compliance Process

Under NOAA's regulations, applications determined to be in substantial compliance are assigned a priority of right for processing based on the chronological order in which qualifying applications are filed. To maintain this status, the Company must continue working with NOAA to satisfy additional regulatory, technical, financial, and environmental requirements applicable to the exploration licensing process.

Tony Romeo, Founder and Chief Executive Officer of DSRM, commented: "NOAA's determination of substantial compliance marks a meaningful milestone in the regulatory process and reflects the depth of preparation behind our submission. We look forward to continuing to engage with NOAA as we further develop our exploration and recovery plans. This is an exciting time to be part of this industry and we're looking forward to the next steps."

Important Regulatory Notes and Forward-Looking Statements

NOAA's determination of substantial compliance is a procedural status under its regulations and does not constitute issuance of an exploration license, approval of an exploration plan, or authorization to conduct exploration or extraction activities. The exploration license application submitted by the Company remains subject to further review, public notice and comment, environmental analysis, and final agency determinations. There can be no assurance that an exploration license will ultimately be granted.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and other applicable securities laws. Forward-looking statements include, among others, statements regarding the plans, objectives, strategies, expectations, intentions, engineering and design activities, anticipated timelines, and potential future operations of Deep Sea Rare Minerals, Inc. and its subsidiaries, including Deep Sea Recovery, LLC, related to the potential exploration, evaluation, and long-term development of polymetallic nodule resources, subject to obtaining all required regulatory approvals.

These forward-looking statements are based on current assumptions, expectations, and projections and are not guarantees of future performance. Forward-looking statements involve significant risks, uncertainties, and contingencies that are difficult to predict and that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, risks related to: engineering, technological, and manufacturing challenges; the performance, reliability, and integration of subsea systems and equipment; the timing, scope, outcome, or denial of regulatory approvals, permits, and authorizations from U.S. and international authorities; environmental assessments, baseline studies, impact evaluations, and evolving regulatory frameworks governing deep-seabed minerals; changes in governmental policy or political priorities, including those related to critical minerals; commercial, operational, financial, and logistical considerations; the availability and cost of capital and future financing needs; market conditions, commodity price fluctuations, and supply-chain uncertainty; potential delays associated with third-party engineering, fabrication, or testing; and other factors, many of which are beyond the Company's control.

Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. Deep Sea Rare Minerals, Inc. undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or circumstances after the date of this release, except as required by applicable law. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

About Deep Sea Rare Minerals, Inc.

Deep Sea Rare Minerals, Inc. is a U.S.-based holding company focused on the responsible evaluation and potential development of subsea mineral resources through its subsidiaries, with an emphasis on regulatory compliance, environmental stewardship, and long-term strategic mineral supply considerations.

Media Contact
Deep Sea Rare Minerals, Inc.
Email: [email protected]

SOURCE: Deep Sea Rare Minerals, Inc.

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D.Johnson--AT