American Rare Earths announced final assay results for the 38 drill hole program completed recently at its Halleck Creek Rare Earths project in Wyoming, USA. The new assays also confirm rare earth mineralization extending
from surface to new depths at the Overton Mountain area. Importantly, the successful drill program has demonstrated consistent rare earths grades throughout both the Overton Mountain and Red Mountain areas. The deposit remains open. The Company's dedicated team is now diligently working toward releasing a maiden JORC resource by the end of March 2023 to conclude a very busy first quarter of the calendar year. The cross section below provides an overview of the Red Mountain and Overton Mountain areas at Halleck Creek. This market announcement has been authorized for release to the market by the Board of American Rare Earths Limited. The information in this document is based on company work performed in March 2023. This work was reviewed and approved for release by Mr. Dwight Kinnes (Society of Mining Engineers #4063295RM) who is employed by American Rare Earths and has sufficient experience which is relevant to the style of mineralization 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.