Rincon Resources Limited announced it has applied for eight new tenements (E38/3814, P38/4571 to 4575 and E39/2392) in the Laverton - Mt Weld Area of Western Australia, over the past few weeks. The new tenements not only continue to expand the Laverton Project footprint and the Company's presence in the Laverton District, but it also sees the Company now apply a dual focus on REE's and gold exploration. The impetus to extend the Company's exploration focus to include REE's at Laverton follows the recognition of REE potential at the Company's Kiwirrkurra IOCG Project in the West Arunta Region of WA, where WA1 Resources Ltd. recently discovered two carbonatite-hosted niobium-REE deposits in a similar geological setting approximately 87km north of the Company's Kiwirrkurra project area.

The Company's continues to assess opportunities to further expand the Laverton Project area either through acquisition or via the application of vacant land considered prospective for gold and both carbonatite or clay hosted REE mineralisation. The Company now awaits grant of the tenements and will commence a comprehensive multi-element geochemical sampling program shortly thereafter. Rare earths elements (REE's) are a suite of elements critical to the production of modern and future technologies including electric cars, wind turbines, smart phones, etc.

REE's, in particular Neodymium (Nd) and Praseodymium (Pr), are becoming increasingly important in the global economy. Carbonatites are a type of rock usually emplaced in continental extensional settings and commonly coexist with alkaline silicate igneous rocks, forming alkaline-carbonatite complexes, but some occur as isolated pipes (i.e. Mt Weld), sills, dykes, plugs, lava flows, and pyroclastic blankets. Undeformed complexes have circular, ring, or crescent-shaped aeromagnetic and radiometric signatures.

Carbonatites and alkaline-carbonatite complexes are the main sources of REE's and niobium (Nb) and can host significant deposits of apatite, vermiculite, copper, titanium, fluorite, thorium, uranium, natural zirconia, and iron.