Reach Resources Limited update the market on the identification of several high priority targets prospective for REE mineralization. Targets were identified by expert geophysical consultant, Southern Geoscience. The Company's aim is to identify pegmatite bodies or carbonatite-associated intrusions within these targets that have the potential to host REE mineralization.

The high priority targets sit within tenements held by Reach Resources wholly owned subsidiary, Critical Elements Pty Ltd. (Critical Elements), that were acquired in November 2021. The Critical Elements Project lies in close proximity to successful explorer Kingfisher Mining and are also only ~80km south of the Company's Skyline tenure, which is immediately adjacent to Hastings Technology Metals Limited, Yangibana REE development which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt. Southern Geoscience focused on structural interpretation and target generation based on airborne magnetic data, with additional detail derived from interpretation of radiometric data and satellite imagery.

Resulting from the interpretation was the identification of six REE targets within Reach tenure. Costeaning has been undertaken previously within the project areas and returned significant results including 12.4% Ta2O5, 32.0% Nb2O5, 0.95% WO3 and 0.25% Sn, from selective rock chip samples. REEs were not analyzed at that time however thorium anomalism, which has been shown by Kingfisher Mining and others to be associated with REE mineralization in the region, has also been identified on Reach tenure from the radiometric data for the area interpreted by Southern Geoscience.