Advancements in Permitting for American Rare Earths Project

Significant Milestones at Cowboy State Mine

HIGHLIGHTS

• Successful installation of 10 groundwater monitoring wells across the Cowboy State Mine (CSM) site.
• Baseline environmental and groundwater data collection is actively in progress.
• Permitting is moving ahead on Wyoming State land, ensuring a smoother approval process.
• The information gathered will support mine permit applications and contribute to the Pre-Feasibility Study (PFS).
• The PFS remains on track for completion in late 2025.
• ARR is steering one of the largest rare earth projects in the U.S., supported by a substantial 2.63 billion tonne JORC Resource.

American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) is excited to share noteworthy progress regarding groundwater monitoring at the Cowboy State Mine, part of the Halleck Creek Rare Earths Project.

This step is crucial for advancing the environmental permitting phase with the Wyoming Department of Environmental Quality (WDEQ), an essential requirement for the company's state mining permit application. The methodologies for water quality collection and analysis adhere to WDEQ's guidelines, ensuring compliance and reliability.

Being located on State-managed land, the Cowboy State Mine enjoys a more streamlined permitting framework compared to operations on Federal lands. The groundwater wells will be subject to monitoring for a full year, aimed at generating essential baseline hydrological and environmental data. This data will be pivotal for groundwater modeling, mine planning, and ultimately for submitting the mining permit application. In addition, preparations for continuous 24-hour pump testing are underway, which is vital for permit approval, as it will provide insights into water flow, aquifer connectivity, and dewatering requirements.

Insights from the CEO of American Rare Earths
Chris Gibbs, CEO of American Rare Earths, remarked, “The installation of these groundwater monitoring wells marks a significant milestone in the permitting journey for the Cowboy State Mine. This initiative is fundamental to our environmental approvals protocol and highlights our strategic advantage of operating on State land within the U.S. We remain committed to completing the Pre-Feasibility Study by the close of 2025, as we aim for initial production as soon as 2029.”

Future Initiatives and Expectations

Looking ahead, American Rare Earths has set several next steps to maintain momentum:

• Ongoing quarterly groundwater sampling and analysis throughout the monitoring period.
• Completion of crucial 24-hour pump tests to enhance groundwater modeling.
• Formal submission of the mine permit application anticipated to proceed concurrently with data collection.
• PFS for the CSM is being developed steadily and is on schedule for late 2025 delivery.

American Rare Earths is dedicated to navigating one of the largest and most strategically significant rare earth projects in the United States. The initiative supports national efforts focused on establishing a sustainable and secure supply chain for critical minerals.

About American Rare Earths Limited

American Rare Earths is at the forefront of revolutionizing the U.S. rare earths landscape. Through its fully owned subsidiary, Wyoming Rare (USA) Inc. (WRI), the company is dedicated to advancing the Halleck Creek Project—a world-class rare earth deposit poised to secure the U.S. critical minerals independence for the future. The Cowboy State Mine, part of Halleck Creek, features cost-effective open-pit mining chances and advantages from the uncomplicated permitting processes prevalent in Wyoming.

Plans include the establishment of onsite mineral processing and separation facilities aimed at reducing U.S. reliance on imports. This project addresses the increasing demand for rare earth elements, essential for defense, advanced technologies, and overall economic security. As exploration advances, the untapped potential across both State and Federal lands strengthens its relevance to U.S. supply chain security. Committed to environmentally mindful mining practices, American Rare Earths collaborates with U.S. government-supported R&D initiatives to pioneer innovative extraction and processing technologies for rare earth elements.

Frequently Asked Questions

1. What is the Cowboy State Mine project?

The Cowboy State Mine project under American Rare Earths is an initiative aimed at extracting rare earth minerals, necessary for various advanced technologies.

2. What advancements have been made in permitting at the mine?

The installation of groundwater monitoring wells has been successfully completed, which is critical for the environmental permitting process.

3. When is the Pre-Feasibility Study expected to complete?

The Pre-Feasibility Study is on track for completion by the end of 2025, pushing the project towards its objectives.

4. How does state land affect the permitting process?

Operations on state land benefit from a simplified permitting framework, streamlining approval timelines compared to federal land projects.

5. How is American Rare Earths addressing environmental concerns?

ARR is committed to environmental responsibility and implements clear strategies to monitor, collect, and analyze groundwater data effectively.

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