Ann: Appointment of Chairman, page-2

Mr. O’Connor has been Chairman of the board of the Company since its inception in 2011 and has overseen its transformation from the developer of a cobalt project near Broken Hill in Australia to a US-based explorer and developer of potentially the largest rare earths project in the United States. Mr. O’Connor has accepted the title “Chairman Emeritus”, reflecting the honorary role he will perform providing wisdom and guidance to the board.“It has been a privilege to have served American Rare Earths from its formative years to where it is today. I have appreciated the engagement and support of the Company’s many stakeholders and look forward to maintaining my involvement as Chairman Emeritus and a supportive shareholder,” said Mr. O’Connor. “I have every confidence that Ken has the vision and expertise to lead the Company going forward.”With more than 30 years of successful experience serving American and global public companies as a chairman, director, CEO and investor, Mr. Traub has an outstanding track record in transforming a wide range of businesses through driving strategic, financial, operational and governance initiatives to maximize shareholder value. Mr. Traub is also currently on the board of directors of Tidewater, Inc. (NYSE: TDW), the leading global owner and operator of offshore support vessels for the energy industry. Mr. Traub earned an MBA from Harvard Business School in 1988. QUOTE
Being a long-standing shareholder since the inception of Broken Hill Prospecting in 2011 I can vouch for Creagh Oconnor’s dedication to guide the company through some very turbulent times involving the float of COB and the subsequent development of American Rare Earths into a seperate company. I wish him well in retirement. The both companies have developed their respective strengths in cobalt and rare earths at correctly the right time in the critical metals industry. We enter 2024 with great promise the fact that Ken Traub takes on the role of chairman is of significance as the US market is beginning to enjoy technical and financial growth with the US Government in an expansive assistance phase for on shoring of mining and processing of critical materials. Ken Traub has the skill and experience to build the company into a large entity , I wish him every success IMO