Exceptional results from drilling program at Halleck CreekHigh Grade Drill Intercepts include 226.5m (743 ft) @ 5084 ppm TREOHighlights• Interim 2023 resource drilling results from 8 diamond drill holes at Halleck Creek.• One deep hole drilled to 302 m, assays have confirmed consistent enriched REE mineralisation from surfaceto 302m (990.81 ft), where the deposit remains open at depth.o Significant intercept in this hole included 226.5m @ 5084 ppm “Total Rare Earth Oxide” TREO and1311 ppm magnet rare earth oxides (“MREO”).o Figure 5 – Fence Diagram illustrates the potential for significantly more resources at higher grades.• Core holes exhibit TREO average of 4,478 ppm, which is 35% higher than the 3,309 ppm TREO averagefrom the Company’s previous resource estimate.o 7 holes exhibit TREO grades averaging 4,550 ppm (the eighth was 3,718 ppm).o Highest TREO grade observed of 9,881ppm.• High value magnetic rare earths neodymium and praseodymium (“NdPr”) averaged 23% of TREO consistentwith prior drilling.• Metallurgy results completed to date indicate that the ore is easily leachable and does not require the complexcracking operation and additional processing steps as seen in hard rock deposits.o 4,448 ppm is easily upgraded to ~2% TREO utilising Wet High Intensity Magnetic Separation(WHIMS) conventional technology.1• Assays are pending for a further 15 reverse circulation (“RC”) drill holes.American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF) (“ARR” or the“Company”) is pleased to announce the exceptional results from the recently completed diamond drilling program2 atOverton Mountain, located within the broader Halleck Creek Rare Earths Project, Wyoming. These results, with pendingassays from RC holes, will provide key inputs to upgrading the current 1.43 billion tonne JORC Resource3, andfurthermore confirms that the deposit remains open at depth to at least 302 m (990.81 ft). The assays received to dateexhibit TREO averages 4,478 ppm, which is significantly higher than the 3,309 ppm TREO deposit average from theCompany’s previous resource estimate. QUOTE Very good news IMO.
