ABx Group (ASX: $ABX) Rare Earth Resources Increase 70% to 89 Mt

ABx Group (ASX: $ABX) has completed an updated resource estimation of the Deep Leads - Rubble Mound and Wind Break rare earth resources located 45 km west of Launceston, Tasmania. The resource estimate of 89 million tonnes is a 70% increase in tonnes and 3% higher grade than the previous estimate. The resource contains a remarkably high proportion of dysprosium + terbium, averaging 4.3% of total rare earth oxides (TREO), and some blocks exceed 6%. The full resources report is attached for further details.

ABx Group Managing Director and CEO Mark Cooksey's Commentary

This 70% expansion of our rare earths resource arises from 400 new drillholes and expansion of our mineralised outline by ABx's proprietary exploration technology. This campaign has enhanced the higher-grade zones that are our top candidates for production studies. Because ABx is beginning economic studies, we have introduced a cut-off grade based on the gross value of contained rare earth oxides that allows us to easily vary the in-situ gross dollar value of resource estimates in the higher-grade zones. ABx's resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest global supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits in China and Myanmar. ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals.

Summary of ABx Group's Rare Earth Resource Estimation

ABx Group (ASX: $ABX) has reported a 70% increase in rare earth resources to 89 million tonnes with a high proportion of dysprosium + terbium. The resource model is based on 3,843 REE assays from 895 drillholes and covers 29% of the identified mineralised outline. The resource contains remarkably high proportion of dysprosium + terbium, averaging 4.3% of TREO, and some blocks exceed 6%. ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals. The resource has the highest proportion of dysprosium + terbium (4.3% of TREO) of any clay-hosted rare earths resource in Australia. The relative proportion of rare earth oxides in the resource estimate is shown in Figure 1. The exploration potential is expanding significantly as ABx refines its exploration technology.