Mr. Stephen Burega reports

APPIA UNVEILS SIGNIFICANT REE, COBALT AND SCANDIUM ASSAY RESULTS FROM 47 RC DRILL HOLES AT THE BURITI TARGET WITHIN ITS PCH IAC REE PROJECT, BRAZIL

Appia Rare Earths & Uranium Corp. has released substantial results from a comprehensive exploration campaign, comprising a total of 47 reverse circulation (RC) holes as part of its 2023 drilling program in the Buriti REE (rare earth element) target. This target spans approximately two kilometres by 1.2 km and is open to the south. The average drill hole depth was 14 metres, with a total weighted average grade of 853 parts per million (ppm) total rare earth oxide (TREO), 148 ppm cobalt oxide (CoO) and 67 ppm scandium oxide (Sc2O3) across all 47 drill holes. Scandium is most commonly used in aluminum-scandium alloys for aerospace industry components and for specialized sports equipment such as bicycle frames. Current scandium average metal price, provided by the Institute for Rare Earths and Metals AG, is $3,100 (U.S.)/kilogram (99.99-per-cent purity) and $5,200 (U.S.) (99.999-per-cent purity). Cobalt is primarily used in lithium-ion batteries and in the manufacture of magnetic, wear-resistant and high-strength alloys.

Stephen Burega, president, stated: "There is significant potential in this newly identified REE mineralized zone. While the Buriti zone has a completely different geological setting from the Target IV alkaline breccia to the north, we continue to see impressive REE results with the addition of significant scandium and cobalt values within the same drill holes. Drill holes PCH-RC-116 and PCH-RC-130, both remaining open at depth, highlight this potential. As previously reported, a standout among the analyses is hole PCH-RC-116, exhibiting mineralization averaging 2,109 ppm TREO, 272 ppm CoO and 128 ppm Sc2O3 to a depth of 24 metres from surface."

Highlights:

• PCH-RC-116, zero to 24 m (end of hole (EOH)):
  • Total weighted average of 2,109 ppm or 0.21 per cent of TREO, 396 ppm or 0.04 per cent magnet rare earth oxide (MREO), 272 ppm CoO and 128 ppm Sc2O3, including:
    • 2,665 ppm or 0.26 per cent TREO, 515 ppm or 0.05 per cent MREO, 397 ppm CoO, and 136 ppm Sc2O3 across 17 m (from four to 20 m);
    • 2,938 ppm or 0.29 per cent TREO, 548 ppm or 0.05 per cent MREO, 258 ppm CoO, and 191 ppm Sc2O3 across 17 m (from 11 to 24 m).
• PCH-RC-119,zero to 18 m (EOH):
  • 893 ppm or 0.09 per cent TREO, 222 ppm or 0.02 per cent MREO, 130 ppm CoO and 71 ppm Sc2O3, including:
    • 1,838 ppm or 0.18 per cent TREO, 471 ppm or 0.05 per cent MREO, 398 ppm CoO, and 93 ppm Sc2O3 across four m (from nine to 13 m).
• PCH-RC-130, zero to 12 m (EOH):
  • 4,071 ppm or 0.41 per cent TREO, 854 ppm or 0.08 per cent MREO, 130 ppm CoO, and 39 ppm Sc2O3, including:
    • 4,963 ppm or 0.50 per cent TREO, 1,044 ppm or 0.10 per cent MREO, 131 ppm CoO, and 39 ppm Sc2O3 across nine m (from one to 12 m).
• PCH-RC-138, zero to 13 m (EOH):
  • 1,172 ppm or 0.12 per cent TREO, 370 ppm or 0.04 per cent MREO, 211 ppm CoO, and 87 ppm Sc2O3, including:
    • 1,526 ppm or 0.15 per cent TREO, 495 ppm MREO, 196 ppm CoO, and 50 ppm Sc2O3 across seven m (from two to six m);
    • 1,043 ppm or 0.1 per cent TREO, 332 ppm MREO, 249 ppm CoO, and 124 ppm Sc2O3 across seven m (from six to 13 m).

The clay-/saprolite-hosted Buriti REE target is underlain by mafic and ultramafic lithologic units associated with a Cretaceous-age regional alkaline complex. Despite Buriti's proximity to the south of Target IV, where the lithology consists of granites and alkali breccias, this new target is predominantly composed of intensively weathered gabbro, diorite and pyroxenite.

Tom Drivas, chief executive officer, commented: "Having surpassed a milestone of over 300 combined auger, reverse circulation and diamond drill holes to date, the company has commissioned SGS Canada to deliver in the coming weeks a[n] NI 43-101 technical report on the PCH project, including a mineral resource estimate (MRE) on the Target IV and Buriti zones."

Appia is continuing to explore additional targets through a continuing auger drilling program across the expansive 40,963.18 hectares of the PCH property.

Appia will be participating at this year's Prospectors and Developers Association of Canada's (PDAC) event from March 3 to 6, 2024, at the Metro Toronto Convention Centre. Please visit the company's booth No. 2715. Also, Mr. Burega will also be presenting the Appia corporate update on March 6 at 10:50 a.m. during the Electric Materials 2 session located in room 801B.

Quality assurance/quality control

Reverse circulation (RC) drill holes are vertical and reported intervals are true thickness. The material produced from drill holes are sampled at one-metre intervals, resulting in average sample sizes of five to 25 kilograms. A small representative specimen was taken from each sample bag and placed into a chip tray for visual inspection and logging by the geologist. Quartering of the material was performed at Appia's logging facility using a riffle splitter and continued splitting until a representative sample weighing approximately 500 grams each was obtained, bagged in a resistant plastic bag, labelled, photographed and stored for shipment.

The bagged samples are sent to the SGS laboratory in Vespasiano, Minas Gerais. In addition to the internal QA/QC of the SGS lab, Appia includes its own control samples in each batch of samples sent to the laboratory.

Quality control samples, such as blanks, duplicates and standards (CRM), were inserted into each analytical run. For all analysis methods, the minimum number of QA/QC samples is one standard, one duplicate and one blank, introduced in each batch which comprises a full-length hole. The rigorous procedures are implemented during the sample collection, preparation and analytical stages to insure the robustness and reliability of the analytical results.

All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of RC samples were provided by SGS Geosol, an ISO/IEC 17025:2005 certified laboratory, which performed its measure of the concentration of rare earth elements (REE) analyses by inductively coupled plasma mass spectrometry (ICP-MS) analytical methods.

The technical content in this news release was reviewed and approved by Don Hains, PGeo, consulting geologist and a qualified person as defined by National Instrument 43-101.

About Appia Rare Earths & Uranium Corp.

Appia is a publicly traded Canadian company in the rare earth element (REE) and uranium sectors. The company is currently focusing on delineating high-grade critical REE and gallium on the Alces Lake property, as well as exploring for high-grade uranium deposits in the prolific Athabasca basin on its Loranger, Otherside, North Wollaston and Eastside properties. The company holds the surface rights to exploration for 94,982.29 hectares (234,706.35 acres) in Saskatchewan. The company also has a 100-per-cent interest in 13,008 hectares (32,143 acres), with REE and uranium deposits over five mineralized zones in the Elliot Lake camp, Ontario. Lastly, the company holds the right to acquire up to a 70-per-cent interest in the PCH ionic adsorption clay project (see June 9, 2023, press release) which is 40,963.18 ha in size and located within the Goias state of Brazil.

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