Mr. Tom Drivas reports

APPIA IDENTIFIES SEVERAL ADDITIONAL URANIUM DRILL TARGETS FROM MT SURVEY LINES 1 AND 3 AT ITS OTHERSIDE URANIUM PROPERTY

Final interpretation of Lines 1 and 3 from Appia Rare Earths & Uranium Corp.'s Q1 2026 Spartan magnetotelluric (MT) survey has outlined several additional preliminary drill targets for potential uranium mineralization at its 100-per-cent-owned Otherside uranium property in Saskatchewan's Athabasca basin. These targets were selected from multiple prospective geophysical anomalies along the Otherside conductor trend and further strengthen Appia's pipeline of priority uranium targets across the property.

The priority targets include P-02, P-04 and P-06 on Line 1, and P-13, P-14 and P-15 on Line 3. These six form part of Appia's broader 16-target inventory, which also includes the previously identified Line 2 targets P-09, P-09a and P-10. The interpretation of Lines 1 and 3 highlights several features considered favourable for Athabasca-style uranium exploration, including conductive zones, density anomalies, magnetic gradients, interpreted unconformity disruption, sandstone disruption and potential structural pathways. Together, Lines 1 and 3 show that prospective geophysical features extend beyond Line 2, supporting a broader property-scale target system and potential uranium discovery.

Line 1 highlights

Line 1 returned several encouraging features, including an interpreted offset in the unconformity near the south end of the profile, a strong conductor at the south end of the line, and a historical ZTEM anomaly that may indicate a deeper conductive body within the basement.

• Line 1 priority preliminary drill targets:
  • P-02 -- Associated with a magnetic gradient, positive density anomaly, moderate MT response, a chimney-like geophysical response that may reflect structural disruption or alteration, and a possible alteration halo.
  • P-04 -- Associated with a high-density response, magnetic gradient, weak MT conductor, a chimney-like geophysical response that may reflect structural disruption or alteration, and a possible alteration halo.
  • P-06 -- Associated with a deep MT conductor, interpreted as the strongest conductor response on Line 1, along with moderate density and a high magnetic response.

These targets are considered prospective because they may be associated with structural disruption, basement conductivity, density features and magnetic gradients that could represent favourable pathways for uranium-bearing fluids.

Line 3 highlights

Line 3 identified evidence of disruption within the sandstone above the unconformity, along with ZTEM anomalies that may be responding to shallower conductive features. Interpretation of Line 3 indicates increased conductivity and density in the sandstone, including a moderate MT conductor along an interpreted MT fault and a dense, faulted body with a coincident magnetic low at P-13, as well as MT conductors in the sandstone above the unconformity at P-14 and P-15.

• Line 3 priority preliminary drill targets:
  • P-13 -- Associated with a dense, faulted body in the sandstone, a magnetic low and a moderate MT conductor along an interpreted MT fault.
  • P-14 -- Associated with a dense body in the sandstone, moderate magnetic response and an MT conductor in the sandstone above the unconformity.
  • P-15 -- Associated with a dense body in the sandstone, moderate magnetic response and an MT conductor in the sandstone above the unconformity.

These targets are designed to test areas of increased conductivity and density within the sandstone, along with geophysical features that may reflect structural disruption or alteration related to uranium-bearing systems.

Tom Drivas, chief executive officer of Appia, commented: "The results from Lines 1 and 3 continue to build momentum at Otherside and further support the uranium discovery potential of this large-scale conductor trend. Line 1 is especially compelling, with evidence of an interpreted unconformity offset, strong conductor response and a possible deeper basement conductor. Line 3 adds additional priority targets associated with sandstone disruption/offsets and shallower conductive features. Together with the targets identified on Line 2, Appia now has a strong inventory of preliminary uranium drill targets across Otherside as we continue advancing the property toward a planned 2027 drill program."

Next steps

Appia plans a tight-spaced, high-resolution ground MT 3-D grid and ambient noise tomography (ANT) surveys over the Line 2 priority corridor to further evaluate an ingress/egress exploration model based on interpreted geophysical similarities to McArthur River. The resulting model will refine the main conductor break and local structural setting before drilling.

Following the planned MT and ANT surveys, Appia aims to advance the highest-priority targets to precision diamond drilling in 2027. Please note: Cameco's McArthur River and all other comparable deposits are currently conceptual models based on interpretations of Appia's compelling geophysical data set. Although uranium mineralization at Otherside has not yet been confirmed by drilling, these geophysical similarities strengthen the exploration case at Otherside.

About the Otherside project

The Otherside project is strategically located within the prolific, uranium-bearing Athabasca basin of Saskatchewan, Canada. This area is renowned for its significant uranium deposits and conditions that have historically led to major high-grade uranium discoveries.

The Otherside property contains geological and geophysical features considered prospective for Athabasca basin uranium exploration. These include long structural corridors hosting multiple conductors with associated magnetic gradients and gravity low areas.

Otherside's property area is 15,146.129 hectares and is 100 per cent owned by Appia.

Qualified person

The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, PGeo, senior exploration adviser of 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 a 25-per-cent interest in Ultra Rare Earth Inc. (Ultra USA) and Ultra USA indirectly holds a 100-per-cent interest in the Ultra Hard Rock and Ultra IAC projects, which total 42,932.24 hectares in size and are located within the state of Goias in Brazil (see June 1, 2026, 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 101,692.35 hectares (251,287.27 acres) in Saskatchewan. The company also has a 100-per-cent interest in 14,483 hectares (35,788 acres), with rare-earth elements and uranium deposits over five mineralized zones in the Elliot Lake camp, Ontario.

Appia has 194.9 million common shares outstanding, 206.6 million shares fully diluted.

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