Halleck Creek drilling extends rare earth zone by 50% - Seite 2

The assay results demonstrate consistent rare earth mineralization associated with clinopyroxene quartz monzonite (CQM) and fayalite monzonite (FM) rocks of the Red Mountain Pluton (RMP). See accompanying Figure 2, drill hole HC22-RM014 has an average TREO value of 3,958 ppm over an interval of 148.5 meters (487 feet).

Average values for the penalty elements of Thorium and Uranium remain very low, Table 2.

Table 2 Average Thorium Oxide and Uranium Oxide values in ppm

DHID	ThO2	UO2
HC22-RM012	45	6
HC22-RM013	74	8
HC22-RM014	81	8
HC22-RM015	81	9
HC22-RM016	64	9
HC22-RM017	62	9
HC22-RM018	23	6
HC22-RM019	44	6
HC22-RM020	61	10
HC22-RM021	42	5
Average	61	8

ARR will continue to compile and report assay data at Halleck Creek as it becomes available. Geological Models and Grade models are being created by Odessa Resources (Odessa) in Perth, Western Australia. ARR provided Odessa detailed geological logs, reports, topographic data, and preliminary geological domains for all holes at Halleck Creek. This data is being used for geological modelling for Halleck Creek. ARR will be providing assay data to Odessa as it becomes available. All this geological data will be used to define a maiden JORC resource estimate at Halleck Creek.

This market announcement has been authorized for release to the market by the Board of American Rare Earths Limited.

Mr. Chris Gibbs
CEO & Managing Director

Competent Persons Statement:

The information in this document is based on company work performed in January 2023. This work was reviewed and approved for release by Mr. Dwight Kinnes (Society of Mining Engineers #4063295RM) is employed by American Rare Earths and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Mr. Kinnes consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.