American Rare Earths Limited announced an update on autumn exploration drilling and completion of significant mapping and sampling work at Halleck Creek, through which the company has identified potential for a much larger, higher-grade resource. The company, which had previously focused on the Red Mountain and Overton claims2, identified the future potential in the surrounding claims of Bluegrass, Sommers Flat, Trail Creek and County Line areas, as shown in Exhibit 2 to this release. Geologists were able to tightly constrain important contacts and boundaries between the REE enriched material and surrounding rocks.

Through GPS-confirmed geology, staff geologists are optimizing future drill hole locations, JORC exploration target(s) and placement of conceptual mine- layout/facilities. In addition, the summer drilling program identified mineable areas with more than 5,000 ppm TREO, which was a higher grade than revealed through previous drilling programs.