Ionic Rare Earths Limited (ASX:IXR) Appoints Brett Lynch as Executive Chairman

Perth, Australia, Jan 24, 2024 - (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to announce the appointment of Mr Brett Lynch as Executive Chairman, effective today.

"Mr Lynch will play a pivotal role in overseeing the strategic direction of the Company, guiding the Company through an accelerated path to becoming a rare earth producer, and drive value appreciation for shareholders," Mr Tim Harrison, Managing Director of Ionic Rare Earths Limited, said.

Mr Lynch will work closely with the Board of Directors, the executive team, and all stakeholders to ensure that IonicRE continues to deliver on its objective to be a leading miner, refiner, and recycler of heavy rare earths.

"The market demand in the magnet sector is growing quickly and requires a robust and reliable supply chain solution to meet the needs of modern economies," Mr Lynch said.

"IonicRE is perfectly placed to accelerate and lead this transition with its Makuutu ionic clay deposit in Uganda and its magnet recycling operations in Northern Ireland.

"The rare earths industry is critical to the ongoing development of renewable energy, defence applications, and automation.

"I look forward to capitalising on this opportunity for the benefit of all shareholders and strategic partners," he said.

Mr Lynch is an experienced executive with a strong background in mining and mining-related businesses across Australia, Asia, USA, and emerging markets.

He has over 30 years' experience in international business development and management, with an outstanding track record of delivering shareholder value. He has a Bachelor of Mining Engineering at University of Melbourne.

From 2019 until August 2023, My Lynch was Managing Director of Sayona Mining Limited (ASX:SYA), where he was instrumental in defining a North American, low-carbon-footprint lithium supply chain into the North American market. During his time with Sayona, Mr Lynch oversaw its growth from a junior explorer to an ASX 200 company.

"The Board of Ionic Rare Earths Limited is delighted to have attracted someone of Brett's calibre and experience to take on the role as Executive Chairman, and with me, lead the growth and strategic direction of the Company," Mr Tim Harrison, Managing Director of Ionic Rare Earths Limited, said.

"It's important that Chairs and Directors have a meaningful stake in the company's growth and share price performance," he said.

Mr Lynch has committed to an initial placement in the Company, subject to the receipt of shareholder approval. As part of his sign-on terms, the Company will offer Mr Lynch the opportunity to purchase 83,333,333 fully paid ordinary shares ("Shares") at $0.018 per Share (closing price on 23rd January 2024).

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

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