Ann: Further high grade drill results at Longonjo, page-2

Brilliant gets better and better

Further high grade drill results at surface and very encouraging results from fresh rock below initial mine

Pensana Rare Earths Plc (LSE: PRE, ASX: PM8) is pleased to report results from a further 34 holes of the 8,000 metre drill programme completed at the Longonjo NdPr Project in Angola.

The programme is in support of the Bankable Feasibility Study work programmes for which the Company is targeting an initial 15 to 20 year mine life based on the weathered zone mineralisation at Longonjo. New results confirm particularly high-grade intersections from surface in the area of proposed first mining.

• Initial mine plan: Infill drilling has confirmed +6% rare earth oxide (REO) in the surface weathered zone mineralisation. This area of mineralisation remains open to the north and east. The Company expects to upgrade the mineral resource to Measured in this area for inclusion in the initial 15 to 20 year mine plan.

• Fresh rock mineralisation: the first systematic drill testing of the potential immediately below the weathered zone mineralisation has returned wide intersections of 2.5% to 3% REO. These grades are very encouraging and add a second dimension to the Longonjo Project beyond the initial 15-20 year mine life. The mineralisation remains opens below the 80 metre drill depth.

• Southern margin: drilling has identified zones of high grade weathered zone mineralisation from surface that is expected to increase average grades in this area of the proposed open pit.

• Updated Mineral Resource estimate: An updated Mineral Resource estimate will be reported in the current quarter once all remaining assay results have been received.