Australian Rare Earths

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· Consistent Recoveries Across Variable Conditions: Ongoing heap leach testwork shows consistent recoveries for Magnet Rare Earths (MRE), ranging from 29% to 74% across various ore conditions and locations within the Project area.

· Accelerated Recovery Time: Achieving these consistent results in significantly shorter periods than traditional heap leaching boosts confidence in employing short-term heaps near the mine pit, facilitating rapid site rehabilitation.

· Scalable Commercial Potential: Positive physical and chemical characteristics from a 4-meter column test suggest potential for scaling up heap heights to commercially viable geometries.

· Economic Sustainability: The low ratio of gangue/impurities to rare earth content in the solution supports the heap leach method as a cost-effective and sustainable development strategy.