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Appia Rare Earths & Uranium Corp
Symbol API
Shares Issued 136,333,594
Close 2024-04-23 C$ 0.12
Market Cap C$ 16,360,031
Recent Sedar Documents

Appia Rare Earths appoints Costa as exploration VP

2024-04-23 11:57 ET - News Release

Mr. Tom Drivas reports

APPIA ANNOUNCES APPOINTMENT OF MR. ANDRE COSTA AS NEW VP EXPLORATION FOR BRAZIL OPERATIONS

Appia Rare Earths & Uranium Corp. has appointed Andre Costa as its new vice-president, exploration, for its Brazilian operation, effective immediately. Mr. Costa will oversee the continuing development of the company's PCH ionic adsorption clay project, located in Goias, Brazil.

Tom Drivas, chief executive officer, stated: "Having the right leadership in place to direct our plans and team in Brazil has been a priority for Appia, and we are so pleased to have Mr. Andre Costa joining us at this pivotal time in our growth cycle. As Appia moves to the next phase in the exploration of the PCH project and following the announcement of our maiden mineral resource estimate (MRE) on Target IV and Buriti zones and NI [National Instrument] 43-101 technical report, Mr. Costa will design and implement programs to further delineate extension zones at these targets, along with drill testing the next series of high-potential REE [rare earth element] areas, and will oversee our ongoing metallurgic testing programs."

Mr. Costa is a fellow of the Australian Institute of Geoscience (FAIG No. 7967). He holds a BSc in geology (1993) and an MSc in economic geology (1996), both from the Federal University of Brasilia. He has 29 years of work experience in mineral exploration for diamond, phosphate, potash, rare earth elements, copper, lithium, gold and petroleum, including nine years of work experience in diamond, uranium, potash, petroleum and gold exploration in Canada. He has participated and managed several exploration programs, from regional grassroots to feasibility studies. He also has 10 years of work experience as a mineral exploration consultant. Mr. Costa has worked as Brazil's exploration manager of Great Western Diamond and Brazil Potash ($120-million budget). He also worked as resident geologist for the Saskatchewan Geological Survey in La Ronge, Sask.

As a consultant for GE21, Mr. Costa oversaw and managed the exploratory auger drilling campaigns in Carina Module (Goias state) and Sao Felix (Minas Gerais state) for Aclara Resources; managed the regional exploration work for Codelco in northern Mato Grosso and Bahia states; co-ordinated the initial exploratory and drilling work for Lithium Ionic in the Aracuai Lithium Valley; co-ordinated the vanadium soil and geological mapping regional exploration for Largo in Maracas and Campo Alegre de Lurdes (Bahia state); executed initial REE fieldwork in the Oiapoque region for Eco Mining; and co-ordinated the execution of regional exploratory work for Bemisa in northern Mato Grosso state.

Mr. Costa stated: "I am thrilled to be part of the Appia team and excited about the opportunity to contribute to the next chapters of the company's success on their PCH ionic clay REE project in Brazil and uranium and REE projects in Saskatchewan and Ontario. I strongly believe that the PCH project is one of the most promising in Brazil and the uranium and REE projects in Saskatchewan and Ontario are promising and well situated. I look forward to working with a very talented exploration and mining team to deliver on the goal of becoming an important player in the global REE and uranium supply chains."

The company has granted 500,000 options exercisable at 15 cents per share for five years to Mr. Costa vesting 50 per cent at six months and 50 per cent at 12 months.

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 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 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 elements and uranium deposits over five mineralized zones, in the Elliot Lake camp in Ontario.

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

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