Overview of AR3's recent announcement

Australian Rare Earths Limited (ASX:AR3) has received approval for its Exploration Program for Environment Protection and Rehabilitation (EPEPR) application for the southern extension of the Overland Uranium Project. The company has secured a drill contractor and rig to commence its first drilling program at Overland, targeting high-priority uranium areas in a frontier play.

Executive commentary on the recent developments

This additional EPER approval, ahead of schedule, is a most timely and welcome step forward in our exploration efforts at Overland, allowing us to access more of our high-priority targets during our inaugural drill program. Securing rig access with experienced drilling contractor, Wallis Drilling, will enable us to commence drilling in mid-October. With multiple high-priority targets across our significant 3,000km2 project area we are eager to get started in this initial area and begin to uncover the potential of this frontier uranium play. We look forward to updating shareholders and investors on our exploration efforts at Overland during the December 2024 quarter.

Summary of AR3's recent announcement

Australian Rare Earths Limited (ASX:AR3) has secured a second EPEPR at the Overland Uranium Project, allowing early access to high-priority uranium targets in a frontier play. The company has awarded a works contract to Wallis Drilling Pty Ltd and secured a drill rig mobilizing to site mid-October, with the first phase of the drilling program scheduled to run from mid-October to December 2024. The Overland Uranium Project represents a significant opportunity for AR3 to expand its energy transition metals portfolio and contribute to the growing demand for uranium as a clean energy source.