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    API   CA03783P1018

APPIA RARE EARTHS & URANIUM CORP.

(API)
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Appia Energy : Announces Commencement of Airborne Radiometric Surveys on Its Saskatchewan Uranium Properties

09/17/2021 | 10:27am EST

Toronto - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the 'Company' or 'Appia') is pleased to announce that the Company has commenced the first of two scheduled radiometric (U-Th-K) surveys on its uranium properties in the Athabasca Basin in northern Saskatchewan where Appia is targeting at or near-surface, high grade uranium and its associated mineral system.

The properties are near existing infrastructure in the prolific eastern Athabasca Basin area.

Appia has contracted Geotech Ltd. to fly radiometric and VTEMTM (Versatile Time Domain Electromagnetic) surveys over both the North Wollaston and Loranger properties. The first radiometric survey has commenced over the North Wollaston property and will be followed by a second radiometric survey over the Loranger property. Approximately 925 line kilometres will be flown over North Wollaston and 379 line kilometres are scheduled to be flown over Loranger. Each survey will be flown with high-resolution 200m line spacing over the properties.

Once VTEM equipment comes available, Appia will also have both properties covered with a VTEMTM survey. The radiometric surveys are expected to be completed very quickly with results reviewed, analyzed and released in the near future.

Frederick Kozak, President of Appia, commented: 'We are delighted to be continuing our exploration program for uranium on the eastern edge of the Athabasca Basin. Our three properties at North Wollaston, Loranger and Eastside have shown the potential for near-surface, high-grade uranium mineralization and this year's radiometric and VTEMTM surveys will advance the prospectivity knowledge for these project areas for future exploration activities.'

2021 Alces Lake Activity

Approximately 7,200 metres of drilling has been planned to test the near-surface and down-plunge extents of new and existing rare-earth targets and total metreage could exceed 10,000 metres. More than 4,000 metres is dedicated to identifying the depth potential of the WRCB zones and help complete the understanding of this significant discovery. Drilling continues and exploration results will be released as received and analyzed by the company. Analysis of the summer exploration and drilling program will follow and may lead to the preparation of an NI 43-101 (Technical Report with 3D Geophysical-geological Models & Preliminary Economic Assessment) report expected near the end of 2021. The Alces Lake project encompasses some of the highest-grade total and critical REEs and gallium mineralization in the world, hosted within a number of surface and near surface monazite occurrences that remain open at depth and along strike.

To ensure safe work conditions are met for the workforce, the Company has developed exploration guidelines that comply with the Saskatchewan Public Health Orders and the Public Health Order Respecting the Northern Saskatchewan Administration District in order to maintain social distancing and help prevent the transmission of COVID-19.

Critical rare earth elements are defined here as those that are in short-supply and high-demand for use in permanent magnets and modern electronic applications such as electric vehicles and wind turbines (i.e: neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb)).

About Appia

Appia is a Canadian publicly-listed company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements, gallium and uranium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 83,706 hectares (206,842 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.

Appia has 107.8 million common shares outstanding, 128.4 million shares fully diluted.

Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words 'believes', 'expects', 'anticipates', 'estimates', 'intends', 'plans' or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.

Contact:

Tom Drivas

Tel: 416-876-3957

Fax: 416-218-9772

Email: appia@appiaenergy.ca

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 -1,80 M -1,40 M -1,40 M
Net cash 2020 1,76 M 1,38 M 1,38 M
P/E ratio 2020 -14,4x
Yield 2020 -
Capitalization 55,5 M 43,5 M 43,3 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 66,9%
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Managers and Directors
Anastasios Drivas Chief Executive Officer & Director
J. Frederick Kozak President
Frank van de Water Chief Financial Officer, Secretary & Director
Brian E. Robertson Independent Director
Thomas Skimming Independent Director
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