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Australian Rare Earths Ltd

Discovery of widespread calcrete hosted Uranium: Follow-up drilling of hole OV047’s shallow anomalous gamma and pXRF (U) readings (See ASX 6 March 2025) has confirmed a widespread continuation of calcrete hosted uranium mineralisation.

Extensive target area: The modern drainage setting indicates significant mineralisation potential at Overland, with drilling revealing an anomalous mineralised zone up to 6m thick and over 1km wide remaining open in all directions.

Confirmation of an additional Uranium model: Mineralogical assessments of drill cuttings from Hole OV047 confirm a calcrete-hosted style of mineralisation, with uranium present in the secondary calcite cementation of both limestone and sandy sediments.

Dual Uranium potential at Overland: Overland now demonstrates potential for both near surface, calcrete-hosted uranium and deeper, ISR-amenable deposits, emphasising the value of the company's vast 4,000km² exploration land package in a frontier uranium play.

Next steps: AR3 will undertake follow up drilling on this new surficial uranium discovery, continue to test high-priority targets for deeper ISR-amenable deposits, and explore new leads identified within the vast Overland project area. Assay results from recent drilling are expected to be released progressively over the next few months.