.PERFECT RESPONSE If the answer to question 1 is “no”, is there...

.PERFECT RESPONSE

If the answer to question 1 is “no”, is there any other explanation that ARR may have for the recent trading in its securities?In recent days, there has been an increase in editorial coverage regarding the rare earths market in the market segments where we operate. This coverage has grown since the introduction of a bipartisan piece of legislation to the Senate of the United States. The Bill entitled Restoring Essential Energy and Security Holdings Onshore for Rare Earths Act of 2022 (REEShore). The REEShore Act would restrict purchases of rare earths from China and encourage the extraction and processing of rare earth metals in the United States.This increase in coverage could be a factor regarding increasing market confidence in our US based rare earths projects at La Paz, AZ and Halleck Creek, WY.On the 12th January, ARR announced it is a Team member of the Critical Materials Institute (CMI). The CMI is a multi-institutional, multi-disciplinary consortium led by the Ames Laboratory. CMI is an Energy Innovation Hub of the U.S. Department of Energy. Its focus is innovation to assure supply chains for materials critical to clean energy technologies with special focus on the Rare Earths supply chain for the United States. These critical materials are essential for American competitiveness in clean energy, including wind turbines, solar panels, electric vehicles, and energy efficient lighting. The Department’s “Critical Materials Strategy” reported that supply challenges for five rare earth metals may affect clean energy technology deployment in the coming years. CMI is a public/private partnership, led by the Ames Laboratory, that brings together the best and brightest research minds from universities, national laboratories, and the private sector. The shared goal is to find innovative technology solutions that will help avoid a supply shortage that would threaten the US clean energy industry as well as security interests.On the 7th January ARR announced a new Non-Executive Director Mr Sten Gustafson. Mr Gustafson currently serves as the Chief Executive Officer and a director of Pyrophyte Acquisition Corp. (NYSE: PHYT), a Special Purpose Acquisition Company (SPAC) focused on companies that provide products, services, equipment, and technologies that support a variety of energy transition solutions. Mr. Gustafson is a highly experienced energy service industry executive, investment banker, and corporate securities attorney. With over 25 years of experience in the global energy sector, Mr. Gustafson has advised on over 100 corporate transactions around the world for over $100 billion of transaction value.In the Company’s opinion no new material information exists that can be announced.