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

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

Omitted for JORC compliance.TO BE CONFIRMED WITH MRE
The Company expects to upgrade the mineral resource to Measured in this area for inclusion in the initial 15 to 20 year mine plan.