Mr. Tom Drivas reports

APPIA CONFIRMS DISCOVERY OF URANIUM AND RARE EARTH ELEMENT MINERALIZATION DURING EXPLORATION PROGRAM AT THE EASTSIDE PROJECT, SASKATCHEWAN, CANADA

Appia Rare Earths & Uranium Corp. has discovered uranium and rare earth element mineralization during the 2024 exploration program at the Eastside property. These promising assay results, analyzed and verified by the Saskatchewan Research Council (SRC) Laboratories in Saskatoon, confirm the company's exploration models and underscore the significant potential of the Eastside property within Appia's Saskatchewan portfolio.

Highlights of the 2024 assay results:

• Uranium mineralization:
  • Grab sample 181213: triuranium octoxide equals 2,523.06 parts per million (0.25 weight per cent), a uranium-bearing zone discovered between Prospector's Peninsula and Highcount Hilltop;
  • Grab sample 181255: U3O8 equals 673.21 ppm (0.07 wt per cent), indicating a uranium-bearing zone east of Highcount Hilltop;
  • Grab sample 181212: U3O8 equals 644.91 ppm (0.06 wt per cent), also discovered between Prospector's Peninsula and Highcount Hilltop further indicating uranium.

Additionally, a total of 20 samples collected from the southwestern portion of the Eastside property exhibited rare earth element mineralization between 0.01 wt per cent and 0.25 wt per cent, further confirming the property's uranium potential.

• Rare earth element mineralization:
  • Channel sample 181244: 1.00 metre of total rare earth oxide equals 0.14 wt per cent, located in the Prospector's Peninsula zone, demonstrating rare earth element mineralization.

Stephen Burega, president of Appia, stated: "We are excited about the results of our 2024 exploration program at the Eastside property. The discovery of uranium and rare earth elements mineralization aligns perfectly with our exploration models, hypotheses and company initiatives. These uranium and REE concentrations highlight the favourable potential of this property as a valuable project in our portfolio."

Importance of Eastside's location for uranium mineralization

The Eastside property, located in the Peter Lake domain east of Wollaston Lake, is strategically significant due to its proximity to the prolific uranium-bearing Athabasca basin. The Athabasca basin is renowned for its uranium deposits and nearby rare earth element discoveries, positioning itself as a major source of global uranium production. The Peter Lake domain, part of this prolific region, is characterized by favourable geological conditions conducive to uranium mineralization. The presence of uranium and REE concentrations in Appia's recently collected samples validates the potential of the Eastside property to host numerous uranium and REE showings, further emphasizing the value of this property.

Next steps

Given the encouraging results, Appia plans to return to the Eastside property to expand investigations near its uranium showings and other areas of interest identified during this program. This follow-up work will aim to delineate the extent of uranium and rare earth element mineralization and assess the potential for further discoveries of both minerals. The results from the 2024 program confirm that the Eastside property has potential for further development and could evolve into a prominent asset for Appia. The company remains enthusiastic about future exploration opportunities and the potential to enhance its Saskatchewan property portfolio.

Appia remains committed to transparency and will continue to provide updates as it advances its exploration efforts in Northern Saskatchewan. Appia will soon share more developments with shareholders and the public as details become available.

About the Eastside project

The Eastside project is strategically located in the Peter Lake domain, east of Wollaston Lake, within the prolific uranium-bearing Athabasca basin region of Saskatchewan, Canada. This area is renowned for its significant uranium deposits, surrounding rare earth element plays and favourable geological conditions that have historically led to high-grade uranium discoveries.

The Eastside property is located in Northern Saskatchewan east of the Athabasca basin and is situated in close proximity to several known uranium and REE deposits and mineralization trends. The Eastside project area is 4,933.47 hectares in size and is 100 per cent owned by Appia. The project area has been identified as prospective for both uranium and rare earth element mineralization based on previous and current geological exploration.

Grab samples were collected using a rock hammer, where possible, and sample selection location was determined using hand-held scintillometers and spectrometers. The area with the highest scintillometer readings may or may not have been sampled. A total of 34 grab samples were collected during the 2024 exploration program.

Channel samples were collected along channel sample lines spaced at variable distances apart depending on lithological contacts. Sample lines ranged from 1.6 m to 8.00 m in length. A total of 31 samples were diamond saw cut and collected from 24.60 m of total surface length. Individual sample length intervals ranged from 0.50 m to 1.00 m in length, 2.5 centimetres wide and 2.0 to 5.0 cm deep.

All lithogeochemical assay results of grab and channel samples were provided by Saskatchewan Research Council's Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, Sask. All analytical results reported herein have passed internal quality assurance/quality control review and compilation.

The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, PGeo, senior technical adviser for Appia 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 and uranium sectors. The company holds the right to acquire an up-to-70-per-cent interest in the PCH ionic adsorption clay project (see June 9, 2023, press release), which is 40,963.18 hectares in size and located within the Goias state of Brazil (see Jan. 11, 2024, press release). The company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and exploring for high-grade uranium in the prolific Athabasca basin on its Otherside, Loranger, North Wollaston and Eastside properties. The company holds the surface rights to exploration for 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The company also has a 100-per-cent interest in 13,008 hectares (32,143 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake camp, Ontario.

Appia has 136.3 million common shares outstanding and 145 million shares fully diluted.

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