Mr. Tom Drivas reports

APPIA ANNOUNCES FINAL CLOSING OF NON-BROKERED PRIVATE PLACEMENT FINANCING FOR A TOTAL OF $3,666,000

Appia Rare Earths & Uranium Corp. will close the final tranche of its non-brokered private placement offering, announced on Nov. 21, 2022, with the issuance of 1.98 million flow-through shares for gross proceeds of $990,000 and 409,300 working capital units for gross proceeds of $176,000. The company has raised total gross proceeds of $3,666,000.

Each FT share is priced at 50 cents and consists of one common share. Each WC unit is priced at 43 cents and consists of one common share of the company and one common share purchase warrant. Each warrant issued on the final closing entitles the holder to acquire one common share at an exercise price equal to 65 cents per warrant share until Dec. 8, 2023.

The net proceeds from the sale of WC units will be used for working capital requirements and other general corporate purposes. The gross proceeds from the sale of FT shares will be used for exploration expenses on the company's mining projects as permitted under the Income Tax Act (Canada) to qualify as Canadian exploration expenses.

All securities issued pursuant to the final closing are subject to a hold period expiring on April 9, 2023.

In connection with the final closing of the offering, eligible finders will be paid $63,060 in cash and issued 12,000 WC broker warrants. Each broker warrant issue in relation to the sale of WC units entitles the holder to acquire one common share of the corporation at a price of 65 cents until Dec. 8, 2023.

About Appia Rare Earths & Uranium Corp.

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca basin on its Otherside, Loranger, North Wollaston and Eastside properties. The company holds the surface rights to exploration for 110,997 hectares (274,280 acres) in Saskatchewan. The company also has a 100-per-cent interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake camp, Ontario.

Appia will have 130.5 million common shares outstanding, 153.8 million shares fully diluted on the final closing of the offering.

We seek Safe Harbor.