Australian Rare Earths (ASX:AR3) Quarterly Activities Report

Australian Rare Earths Limited (ASX:AR3) has reported significant progress in its exploration and development projects for the quarter ended 30 September 2024. The Koppamurra Rare Earths Project achieved a 27% increase in its Mineral Resource estimate, reaching 236 million tonnes at 748 ppm TREO, with a focus on building a robust portfolio of high-quality energy transition assets. Additionally, the company has expanded its clean energy transition metals portfolio with the acquisition of uranium tenements and permits for imminent commencement of uranium exploration drill program.

Executive Commentary on Progress and Strategy

Australian Rare Earths Limited (ASX:AR3) is pleased to announce the significant milestones achieved during the quarter. The Koppamurra Project's growth and the expansion of the Uranium portfolio demonstrate our commitment to developing a sustainable supply of rare earths and uranium essential for the clean energy transition. The heap leach test work at Koppamurra has shown promising results, reinforcing the potential for a low-capex development pathway. We are also excited about the strategic acquisition of the Overland Uranium Project, which has paved the way for the inaugural drill program targeting sedimentary-hosted uranium deposits. These developments align with our strategic focus on an expanded clean energy transition metals portfolio.

Outlook and Corporate Strategy

Australian Rare Earths (ASX:AR3) has made significant strides in expanding its rare earths and uranium portfolio, with a strong focus on sustainable development. The company's Koppamurra Project's increased Mineral Resource estimate and the ongoing heap leach test work demonstrate the potential for scalable, efficient production of rare earths. The strategic acquisition of the Overland Uranium Project and the addition of Triggs Bore and Hamilton Creek prospects further enhance the company's clean energy transition metals portfolio. With a strong cash position and ongoing exploration activities, AR3 is well-positioned to drive the development of its key projects and generate value for shareholders. The company's commitment to sustainable supply and its strategic focus on clean energy transition metals position it as a key player in the global transition to a green economy.