Highlights:• In-Situ Resources at Halleck Creek increased 64% to 2.34 billion tonnes (1.81 Mt, 27% Magnetic RareEarth Oxides (“MREO”)) at 3,196 ppm Total Rare Earth Oxides (“TREO”) using a 1,000ppm TREO cut-off.• 1.42 billion tonnes of measured and indicated resources (a 128% increase) were estimated at a grade of3,295 ppm TREO using a 1,000ppm TREO cut-off.• The progress made around mine planning and metallurgy supports a cut-off grade of 1,000 ppm basedon a thorough economic and technical evaluation by independent mining consultant(s), compared to acut-off grade of 1,500 ppm in prior reporting (See Figure 1 for comparison where grade increasedirrespective of cutoff grade).• 2023 drilling expanded lateral and vertical resource extents, deposit remains open at depth and alongstrike. QUOTE Results provide an insight into the massive deposit at Halleck Creek IMO from release today
