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Appia Rare Earths & Uranium Corp
Symbol API
Shares Issued 136,333,594
Close 2024-02-01 C$ 0.20
Market Cap C$ 27,266,719
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Appia Rare Earths plans drilling at Loranger

2024-02-02 10:19 ET - News Release

Mr. Tom Drivas reports

APPIA ANNOUNCES PLANS FOR DRILLING AT THE LORANGER URANIUM-BEARING PROPERTY, SASKATCHEWAN, CANADA

Appia Rare Earths & Uranium Corp. has released its plans for drilling at the 100-per-cent-owned uranium-bearing Loranger property in Northern Saskatchewan in conjunction with the signing of a strategic collaboration agreement with the Ya'thi Nene Lands and Resources Office (YNLR). This diamond drilling program emphasizes Appia's excitement to capitalize on the rising uranium market in collaboration with the YNLR and local Wollaston residents.

The Loranger diamond drilling program is pending permitting; is slated to commence between late February and early April; and represents a pivotal step in Appia's multiyear exploration efforts to develop its five uranium properties. In partnership with the YNLR and the local Wollaston community, the program will follow up by targeting some of the approximately 20 favourable electromagnetic and uranium-bearing geophysical anomalies of the property within the eastern Wollaston domain, in particular the Tabbernor fault minerals system.

Situated adjacent to the renowned, uranium-rich Athabasca basin, Appia believes the Loranger property holds strong potential for valuable uranium deposits.

Appia's Loranger winter diamond drilling program is anticipated to include 1,000 to 1,200 metres across eight to 10 drill holes, aiming to uncover new uranium discoveries to follow up on what was drilled in 2017 and 2019. This program's success is expected to contribute significantly to the understanding of the property's uranium mineralization and the implications for further discoveries within its complex geological terrain.

The agreement between Appia and the YNLR facilitates a mutual working relationship during the Loranger diamond drilling program, allowing for respectful and timely working relationships between both parties and a push toward the project's success. This co-operative approach ensures that the exploration activities benefit both the company and the region's communities.

"After many constructive negotiations, we are very excited to return to Northern Saskatchewan this winter season to explore the economic potential of our Loranger property, just as the uranium markets have seen a surge over the past 12 months," stated Stephen Burega, president.

The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, PGeo, vice-president, exploration, 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 is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property as well as 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 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The company also has a 100-per-cent interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake camp in Ontario. Lastly, the company holds the right to acquire up to a 70-per-cent interest in the PCH project, which is 17,551.07 hectares in size and located within the Goias state of Brazil (see June 9, 2023, press release). The company successfully added 23,412.11 hectares to the PCH project's total hectares by staking 12 new claims, bringing the overall project size to 40,963.18 hectares.

Appia has 136.3 million common shares outstanding and 144.1 million shares fully diluted.

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