American Rare Earths Limited announced the exceptional results from the recently completed diamond drilling program2 at Overton Mountain, located within the broader Halleck Creek Rare Earths Project, Wyoming. These results, with pending assays from RC holes, will provide key inputs to upgrading the current 1.43 billion tonne JORC Resource3, and furthermore confirms that the deposit remains open at depth. The assays received to date exhibit TREO averages 4,478 ppm, which is significantly higher than the 3,309 ppm TREO deposit average from the Company's previous resource estimate.

The assays received todate exhibit TREO averages 4,479 ppm, which is significantly higher that the 3,309 ppm TRE O deposit average from the Company's previously resource estimate. The assays receive to date exhibit TREO averages4,478 ppm, which isificantly higher than the 3,309pp TREO deposit average from the company's previous resource estimate. These drill results are simply outstanding.

The purpose of this drill campaign was to confirm that the deposit is actually much larger than the current resource model, while also being homogenous and cost-effective to mine.