Rainbow Rare Earths Ltd. announced the final assay results from the auger drilling programme completed at the Phalaborwa Rare Earths Project located in South Africa, further to the publication of the initial set of assay results on 12 February 2021, which confirm: Average grade of 0.45% total rare earths oxide; Average combined grade of 0.13% Neodymium and Praseodymium oxide, representing 28.9% of the TREO grade reported in the rare earths basket. Economic levels of Dysprosium and Terbium recorded, enhancing the overall rare earths basket value contained in the stacks by approximately 15%; Low levels of radioactive elements present in the stacks. The assay results, which are included in a table below, are broadly supportive of previous indications from the Sasol sample and test work programme. The assay results and average grades reported (which incorporate previously announced holes) do not represent a mineral resource estimate. Following the receipt of these results and prior to the publication of a JORC (2012) Mineral Resource Estimate, Rainbow will carry out an additional drilling programme within the estimated +/-35 million tonne gypsum stacks to confirm bulk density as well performing an updated topography survey.