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Australian Rare Earths Ltd

EL008208_Work Programme_100223.pdf

RDBD Developments Pty Ltd (a wholly owned subsidiary of Australian Rare Earths Limited).

Australian Rare Earths has defined a JORC compliant Mineral Resource Estimate at our Koppamurra project which is located ~30km north of the proposed application area. The JORC Resource presently stands at 81.4Mt at 785ppm TREO (total rare earth oxide); This includes an Indicated Resource of 45Mt at 835ppm TREO (see AR3 ASX release dated 4 July 2022).

Year 1 - Collection of existing data and/or drill core available to verify the method of mineralisation proposed within the application area. Review of the literature describing the occurrences of this type of mineralisation and its economic exploitation.

Year 2 - Drilling and sampling to provide samples for analysis to determine whether economic concentrations of the mineralisation can be identified. It is envisaged that an Aircore drilling program along roadsides over broad areas.

Year 3 – Infill drilling and sampling proximal to prospective areas defined in Y2 exploration at a density sufficient to establish a mineral resource estimate for this type of mineralisation.

Year 4 - Metallurgical testwork and advanced studies (subject to positive outcomes of Y 1-3).

Year 5 - Metallurgical testwork and advanced studies (subject to positive outcomes of Y 1-3).

Update: 23 April 2024: Work Program Details - EL008208