Earthworks Enters Critical Minerals Race with Wokaura Tech Acquisition

VANCOUVER, BC – March 27, 2026 – Earthworks Industries Inc. has announced a significant strategic pivot into the booming critical minerals recycling sector, confirming it is advancing a technology acquisition from Wokaura Art & Innovations Inc. aimed at recovering valuable metals from waste streams. The move positions the company to tap into a market driven by an urgent global demand for materials essential to electrification and national security, though the ambitious plan arrives amidst recent disclosures of financial strain.

In a statement released today, the company, historically focused on environmentally responsible waste handling, confirmed that its acquisition of Wokaura's intellectual property has been submitted for review by the TSX Venture Exchange. Earthworks is now beginning the operational phase of its new strategy, which includes scouting potential locations for its first recovery systems and engaging with industry stakeholders.

This transition places Earthworks (TSX-V: EWK, OTCQB: EAATF) at the forefront of a global resource scramble, aiming to turn industrial and urban waste into a secure source of the planet's most sought-after elements.

The New Green Gold Rush

Earthworks' strategic shift is a direct response to powerful macroeconomic and geopolitical forces. The global transition to a green economy—powered by electric vehicles, wind turbines, and massive energy infrastructure—has created an insatiable appetite for critical minerals like lithium, cobalt, and rare earth elements (REEs). According to the International Energy Agency, demand for these materials is projected to grow exponentially in the coming decades.

This demand has exposed a critical vulnerability for Western economies: a heavy reliance on a handful of countries for both mining and processing. China currently dominates the refining of most critical minerals, controlling over 90% of the market for rare-earth elements. This concentration has prompted governments in North America and Europe to aggressively pursue supply chain independence through policies, incentives, and support for domestic production and recycling.

Recycling is seen as a cornerstone of this new strategy. Recovering metals from end-of-life products—a practice known as urban mining—and reprocessing legacy mine waste not only provides a domestic source of materials but also carries a significantly lower environmental footprint than new mining projects. With recycling rates for many critical minerals currently below 5% globally, the opportunity for growth is immense.

A Modular Approach to a Complex Problem

At the heart of Earthworks' new strategy is the intellectual property acquired from Wokaura. While specific technical details of the underlying extraction process remain proprietary, the company has outlined a framework centered on a modular and digitally managed system.

This approach is designed for scalability and efficiency, allowing for the deployment of smaller, adaptable recovery units that can be expanded over time. The system is managed by a cloud-based platform intended to oversee operations, capture data, and support a growing network of facilities. This contrasts with the traditional model of building massive, centralized, and capital-intensive processing plants.

Earthworks plans to target a wide range of non-traditional sources, including the reprocessing of historical mine tailings, waste rock, and what it terms "above-ground materials recovery." This latter category encompasses the vast and growing stream of e-waste from discarded electronics, EV batteries, and industrial components—a rich but complex source of valuable metals.

Navigating a Competitive Landscape

Earthworks is entering a dynamic and increasingly crowded field. A host of innovative companies, from startups to established players, are developing their own technologies to capitalize on the critical minerals opportunity. Competitors like ReElement Technologies and Ucore Rare Metals are advancing their own modular separation systems, while others like Cyclic Materials are focused on recovering rare earths from high-powered magnets.

Success will depend not only on technological efficacy but also on navigating a complex regulatory environment. While governments are offering support, including Canada's Clean Technology Manufacturing Investment Tax Credit, the permitting process for any industrial facility remains a significant hurdle. Earthworks' emphasis on an "environmentally responsible" approach and a modular design that could potentially minimize local impact may prove advantageous in this regard.

Ambition Meets Financial Reality

While the strategic vision is compelling, its execution hinges on Earthworks' operational and financial readiness—an area now under scrutiny. Just over a week ago, on March 19, the company announced a potential delay in filing its annual financial statements and revealed it was applying for a temporary management cease trade order. Such moves often signal internal accounting challenges or financial distress and raise questions about a company's ability to fund a capital-intensive expansion.

This financial uncertainty casts a shadow over the optimistic outlook presented by the company. In today's press release, CEO David Atkinson stated, "We are taking deliberate steps to position Earthworks for its next phase of growth... We believe this direction builds on our existing strengths while opening the door to new opportunities in critical mineral recovery, where demand for timely, responsible, and scalable solutions continue to grow."

The challenge for Earthworks will be to reconcile this forward-looking strategy with its immediate financial pressures. As it begins the foundational work of site selection and industry engagement, investors and partners will be watching for signs that the company can secure the capital and operational discipline needed to bring its high-tech recycling vision to life. The journey from a press release to a fully operational, revenue-generating recovery network is fraught with challenges. For Earthworks, the path from strategic announcement to profitable recovery is just beginning, and its success will depend on navigating both the vast market opportunities and its own pressing internal challenges.