High Grade Assay Results up to 13.9% TREO at Beaver Creek Rare Earths Project in Wyoming

Highlights

• Assay results from surface samples show high-grade TREO from 5.8% to 13.9%
• Neodymium + Praseodymium grade ranged between 1% and 2.2%
• Claims land holding increased 85%
• Plans underway to conduct further field work to define JORC Exploration Target

DENVER, Sept. 14, 2023 -- American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF) | FSE:1BHA) (ARR or the Company) is pleased to announce high grade field assay results at the exciting new Beaver Creek rare earth project in Wyoming.

Final assay results from ALS Global confirmed TREO grades between 5.8% and 13.9%. Assays for the valuable magnetic rare earths, neodymium and praseodymium ranged between 1% and 2.2%.

"These are outstanding results from the initial field work at our new project in Wyoming," says Donald Swartz, CEO American Rare Earths. "The deposit is open at depth and historic reports indicate that the rare earth mineralization-outcrop may extend over 457 meters (1500 feet). We are enthusiastic about increasing our claim holdings and look forward to conducting further exploration activities to unlock the potential of this new high-grade discovery."

The Beaver Creek REE Project area is north of the Company's flagship Halleck Creek Project. The State Mineral Lease at Beaver Creek REE project covers 640 acres (259 hectares) in Johnson County, Wyoming. The newly acquired state section at the Beaver Creek REE project increases the company's holdings in the region by 85% from 749 acres (303 hectares) to 1,389 acres (562 hectares). Importantly, the state mineral lease is directly along strike from previously examined outcrops, and has the potential to contain additional, highly enriched REE mineralization.

This announcement has been authorized for release by the Board of American Rare Earths.

Donald Swartz

Chief Executive Officer

Competent Persons Statement:

This work was reviewed and approved for release by Mr. Dwight Kinnes (Society of Mining Engineers #4063295RM) is employed by American Rare Earths and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Mr. Kinnes consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

About American Rare Earths Limited:

American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF| FSE:1BHA) is committed to becoming a top supplier of critical minerals. The company is a leading explorer of rare earth projects, with a strong focus on developing sustainable and cost-effective extraction and processing methods. To meet the rapidly increasing demand for resources essential to the clean energy transition and US national security, American Rare Earths is engaged in advanced study and continued exploration of its 100% owned rare earth element projects rich in the magnet elements of neodymium and praseodymium at Halleck Creek in Albany County, Wyoming and La Paz, Arizona. Both projects have the potential to be among North America's largest rare earth deposits. The Halleck Creek deposit was recently identified by Mining.com as fifth in the world's top rare earth projects. A recently released maiden JORC Resource report for Halleck Creek shows 1.43 billion tonnes of in-place TREO, 4.73 million tonnes TREO containing approximately 1.05 million tonnes of the highly desirable magnet metals neodymium and praseodymium. The Halleck Creek deposit is located approximately 70km north-east of Laramie encompassing portions of Albany and Platte Counties in Wyoming. The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of rare earth elements to help ensure a renewable future.

Head Office
American Rare Earths Ltd.
1658 Cole Blvd, Suite G30
Lakewood, CO, 80401
info@americanrareearths.com.au
americanrareearths.com.au

For media inquiries, please contact:
Susan Assadi, sassadi@AmericanREE.com
347 977 7125

Please link here for Appendix A - JORC Table 1

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b1bb14a3-6f50-47d2-aff9-941bca694060