Maiden Exploration Target for Cummins Range Primary Zone Highlights Significant Growth Potential

Highlights

• Follows highly successful recent diamond drilling program targeting the primary zone
  

• Exploration Target is in addition to the current Indicated and Inferred Mineral Resource1 of 18.8Mt at 1.15% TREO2 + 0.14% Nb2O5
  

• This zone will be targeted by a major new drilling program commencing early April

“The announcement of this Exploration Target is a really significant milestone for the Cummins Range Project, coming on the back of a very successful year drilling in 2021. This Exploration Target provides investors with clear insights as to the broader potential of the deposit at depth, over and above our current, already substantial Mineral Resource."

“If we are successful in converting a significant portion of this Exploration Target into Mineral Resources, we have a clear pathway to deliver substantial growth in the Cummins Range Project. We believe, based on the information available to us, that the deposit has the potential to be a top-3 Australian rare earths project in terms of contained rare earths. We are very much looking forward to unlocking that potential this year.”

Jeremy Robinson

Managing Director

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