Channel Sampling Shows Red Mountain Hosting Some Of The Highest Grade Material Observed To Date At CSM Area

DENVER, CO - American Rare Earths Limited (ARR) reported on the mapping and channel sampling program across the Cowboy State Mine (CSM) area, part of the Halleck Creek Rare Earths Project in Wyoming. A total of 106 channel samples were collected across Red Mountain by geologists from Wyoming Rare (USA) Inc (WRI), ARR’s wholly owned U.S. subsidiary, in collaboration with technical support from Geosyntec.

Assay results confirmed elevated rare earth mineralization across the Red Mountain area, including a standout sample grading 1.37% (13,651ppm) Total Rare Earth Oxide (TREO). TREO grades of Red Mountain Pluton (RMP), the rare earth bearing rock type, ranged from 711 ppm to 13,651 ppm with an average of 3,661 ppm. On average, magnet rare earth oxides1 (MREO) account for approximately 28% of the total rare earth content (1,023 ppm), while heavy rare earth oxides2 (HREO) represent around 13% (464 ppm). A total of 15 samples exceeded 4,500 ppm TREO, indicating areas of elevated-grade material within the system.

These results further highlight the southern portion of Red Mountain as hosting some of the highest-grade material observed to date for the CSM area. The channel sampling data is currently being incorporated into an updated geological model and mineral resource estimate for the CSM area. This model will assist mine planning and support the Pre-Feasibility Study, which remains on track for completion in late 2025.

Chris Gibbs, Chief Executive Officer, said, “Halleck Creek is shaping up to be the next major rare earths project in the United States. With the high-value core four magnet rare earths including neodymium, praseodymium, dysprosium and terbium consistently present across the Cowboy State Mine, we are advancing one of the few U.S. projects capable of supplying these critical materials at scale.

What’s especially encouraging is the continued confirmation of these core four rare earths across the sampled area. In particular, terbium and dysprosium are vital for high-temperature magnet performance and remain in extremely limited supply outside of China. Based on our Scoping Study, they are expected to contribute over 25 percent of project revenues, despite representing a small percentage of overall tonnage.

Importantly, we don’t need federal permitting reform to move forward. Being located on state lands in Wyoming gives us a clear and streamlined path to development. With China’s recent export bans on terbium and dysprosium, the national importance of Halleck Creek as a secure domestic source has never been clearer.

As outlined in our Updated Scoping Study, a staged development could see first production as early as 2029. With its scale, simplicity and multi-generational resource potential, Halleck Creek has the attributes to become one of America’s most significant rare earths projects.”