Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-11

Searchlight Rare Earth Elements ProjectIn 2021, the Company acquired the Searchlight Rare Earths project in Nevada, USA. The project is in the Crescent precious metal mining district in Clark County, southwest Nevada and is sited approximately 119km (74 miles) south of Las Vegas. The Searchlight project is situated close to the USA’s only integrated and processing Mountain Pass rare earths mine located approximately 32km (19 miles) to the west.The project is 100% owned by the Company’s USA subsidiary, Western Rare Earths LLC (WRE). It comprises an area covering 656 hectares (1,620 acres) with 80 contiguous unpatented mining claims staked by the Company during 2021 following reviewing historical review that highlighted the previously REE prospected claims were available for acquisition.Located in the mining-friendly state of Nevada, the mining claims are on public Bureau of Land Management (BLM) land. Terrain and climate are conducive to year-round exploration and is easily accessed by road.Historic sample data, including assay results, indicate the presence of extraordinarily high-grade rare earths, especially the highly sought after Heavy Rare Earth Elements (HREE).
This project is still to be fully assessed but holds great promise being so close to MP Materials mine in Nevada , there is a great deal of focus on the general area around the 3 projects there must be many companies watching the progress with great interest IMO.