Assay Results Expand Rare Earth Enrichment Within theCowboy...

Assay Results Expand Rare Earth Enrichment Within theCowboy State Mine Area at Halleck Creek, WyomingHighlights• Surface samples of up to 6,221 ppm TREO (64% increase to mine planning), revealed potentialfor a larger, higher grade REE resource area in the Cowboy State mine area• Mine planning averaged 3,805 ppm TREO1 in recent scoping study• High value magnetic rare earths (MREO) average 27% of TREO• The mapping and sampling will support future higher-grade resource drillingAmerican Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) the ‘Company’ todayannounced assay results from a recent mapping and sampling program in the Cowboy State Mine area.These results will allow the Company to target higher grade areas contiguous to the mining area withinthe recently published scoping study. These results complement the recently announced updatedJORC resource of 2.34 billion tonnes2 and illustrate the consistently enriched mineralisation at HalleckCreek.This mapping and sampling campaign within the Cowboy State Mine Area was focussed at a higherresolution. In total, 95 samples were sent for analysis at ALS Global, including 5 Qualityassurance/Quality control samples of standards, blanks, and duplicates. The results are summarisedin Table 1. The mapping refined contacts between the RMP and surrounding granites as shown inFigure 1. The new mapping and sampling campaign provides better constraints on the geology of theCowboy State mine area for future resource targeting and drill hole planning. Specifically, areas coveredwith unconsolidated Tertiary gravel (Figure 1) were delineated, which offers significant upside.Donald Swartz, Chief Executive Officer commented:“We are encouraged by these results that continue to demonstrate upside potential to our recentlyannounced scoping study. These results are contiguous and complimentary to our recently releasedmine plans, of which the entirety was developed on state lands, which provides accelerated permitting.These higher-grade target areas will allow for optimising mine planning and project economics as weenter pre-feasibility level analysis. The low-operating costs ($38.38/kg NdPr equivalent) are largelyattributable to the favourable geology, which is evident in these surface samples of highly enrichedmineralisation within zero-strip-ratio mining areas. The Uranium and Thorium continue to occur in verylow levels naturally”.1. ASX announcement QUOTE
Development progressing well IMO