Lynas Corporation Limited announced exploration results from recent deeper drilling in the Fresh Carbonatite below the area of the Mineral Resources and Ore Reserves. The following report provides information to support the Exploration Results. Key highlights are; Successfully established two new bores to a depth of 100 metres and 106 metres respectively below the current pit floor. Both holes were extended for exploration purposes below the current Life of Mine pit design depth and this is the first time to have drilled these depths. Significant and continuous intersections of Rare Earth minerals were encountered including Light Rare Earth elements and Heavy Rare Earth elements. Rare Earth Element mineralisation remains open at depth. One new borehole included 149 metres of 2.2% Rare Earth Oxides in carbonatite from 52 metres to 201 metres. The other new borehole included 61 metres at 2.7% REO in carbonatite from 17 metres to 78 metres. Grain size is significantly coarser than the fine-grained Rare Earth minerals in the saprolite zone of the current Mt Weld mining zone. Two vertical holes were drilled in September and October 2020 from the base of the current Mt Weld Open Pit. The holes are designated LWB025 and LWB026. The holes were drilled from the base of the existing pit. Immediate mining campaigns plan to extend laterally prior to mining deeper to the final Life of Mine Pit limits and therefore will not disturb the water bores in the medium term.