Key Highlights of the Announcement

American Rare Earths (ASX: $ARR) has announced assay results from a recent mapping and sampling program in the Cowboy State Mine area, indicating the potential for a larger, higher grade rare earth element (REE) resource area. The surface samples revealed concentrations of up to 6,221 ppm total rare earth oxides (TREO), marking a 64% increase to mine planning as outlined in the recent scoping study. Additionally, the high value magnetic rare earths (MREO) averaged 27% of TREO, supporting the company's future resource targeting and drill hole planning.

Executive Commentary on the Results

Donald Swartz, Chief Executive Officer of American Rare Earths, expressed optimism about the results, stating, 'We are encouraged by these results that continue to demonstrate upside potential to our recently announced scoping study. These results are contiguous and complimentary to our recently released mine plans, of which the entirety was developed on state lands, which provides accelerated permitting. These higher-grade target areas will allow for optimizing mine planning and project economics as we enter pre-feasibility level analysis. The low-operating costs ($38.38/kg NdPr equivalent) are largely attributable to the favorable geology, which is evident in these surface samples of highly enriched mineralization within zero-strip-ratio mining areas. The Uranium and Thorium continue to occur in very low levels naturally.'

Summary of Assay Results and Future Outlook

The recent assay results from American Rare Earths' mapping and sampling program have unveiled the potential for a larger, higher grade rare earth element (REE) resource area within the Cowboy State Mine area. These findings, including surface samples of up to 6,221 ppm TREO and high value magnetic rare earths (MREO) averaging 27% of TREO, are expected to support future higher-grade resource drilling and optimize mine planning. The company's Chief Executive Officer, Donald Swartz, highlighted the significance of these results in enhancing the project economics and accelerating permitting, as the entirety of the mine plans was developed on state lands. With low-operating costs and enriched mineralization within zero-strip-ratio mining areas, the company aims to enter pre-feasibility level analysis and continue its efforts to develop environmentally friendly and cost-effective extraction and processing methods. American Rare Earths remains committed to meeting the increasing demand for resources essential to the clean energy transition and US national security, while also evaluating other exploration opportunities and collaborating with US Government-supported R&D to ensure a renewable future.