Mr. Tom Drivas reports

APPIA DRILLS 6.08M OF 0.305 WT.% TREO WITHIN WIDE ZONE OF 26.07 METRES GRADING 0.246 WT.% TREO AT THE ALCES LAKE MAGNET RIDGE ZONE

Appia Rare Earths & Uranium Corp. has released geochemical assay results from 2022 diamond drilling of the Magnet Ridge zone on its 100-per-cent-owned Alces Lake rare earth elements (REES) property, Northern Saskatchewan.

Final assays for Appia's 2022 Alces Lake diamond drilling program have been received, compiled and interpreted zone by zone. The second set of results is reported here. Further results will follow once all the results are finalized.

Highlights from the Magnet Ridge drilling program are listed as follows:

• Drilling intersected thick sequences of REES from surface to 85 metres depth, with drilled widths up to 28.19 metres;
• The discovered mineralization intervals are similar in nature and larger in size when compared with the AMP zone at WRCB;
• Total rare earths oxide (TREO) assays of up to 0.65 weight per cent (6,500 parts per million) TREO were returned, with thickness and grades increasing by over 50 per cent to the south-southeast; all within 85 metres of surface;
• 19.85 m at 0.317 weight per cent TREO, including 8.94 m at 0.467 weight per cent TREO in hole 22-AUG-031;
• 18.67 m at 0.245 weight per cent TREO, including 9.02 m at 0.344 weight per cent TREO in hole 22-AUG-030;
• 26.70 m at 0.246 weight per cent TREO, including 6.08 m at 0.305 weight per cent TREO in hole 22-AUG-013;
• 28.19 m at 0.190 weight per cent TREO, including 3.07 m at 0.506 weight per cent TREO in hole 22-AUG-026;
• Follow-up drilling is warranted.

In 2022, the company drilled the Magnet Ridge (formally Augier) prospect (located south-southeast of WRCB) for the first time and intersected REE mineralization in 27 of 34 DDHs (diamond drill holes) near surface over significant strike length and drilled widths exceeding 28 metres.

The Magnet Ridge zone was discovered from interpreted results of a 2021 airborne radiometric (uranium-thorium-potassium) survey, and is exposed on surface as a large 500 m long and 150 m wide zone of thorium enrichment along the same kilometre-scale south-southeast-trending structural corridor hosting the monazite-rich REE zones of the WRCB area. Mineralization at Magnet Ridge remains open to the south-southeast and to the north-northwest for follow-up drilling in 2023. Radiometric thorium (Th) is an important proxy for delineating monazite mineralization at Alces Lake. A representative X-section suggests that the structural geometry of the mineralization is complex and probably folded.

Vice-president of exploration Irvine Annesley says: "The company is excited that our very first drilling program at Magnet Ridge yielded these highly anomalous results. Like the WRCB area's AMP zone, the mineralization style/type at Magnet Ridge opens new potential for large-volume, high-tonnage REE deposits over significant strike-length at Alces Lake."

Comprehensive interpretation and modelling of the WRCB and Magnet Ridge mineralized zones have indicated that follow-up geophysical and geochemical surveys are necessary along and across the highest-priority areas of a major structural corridor that extends south-southeast from the main mineralized zones at WRCB to Magnet Ridge and then for another 20 to 25 km. These surveys will facilitate delineation and mapping of REE mineralized (monazite-bearing) pegmatites and associated glimmerites within this structural corridor to establish new drill targets. The petrophysical characteristics (that is, density, radiometric and magnetic properties) of monazite will be maximized as a vectoring tool(s) for finding new targets (that is, by utilizing leading-edge exploration technology like airborne radiometrics/magnetics/3-D gravity gradiometer surveys at optimal line spacing/orientation).

The Alces Lake project encompasses some of the highest-grade total and critical* REEs and gallium mineralization in the world, hosted within several surface and near-surface monazite-bearing occurrences that remain open at depth and along strike.

*Critical rare earth elements are defined here as those that are in short supply and high demand for use in permanent magnets and modern electronic applications such as electric vehicles and wind turbines (neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb)).

The Alces Lake project is located in Northern Saskatchewan, the same provincial jurisdiction that is developing a first-of-its-kind rare earth processing facility in Canada (currently under construction by the Saskatchewan Research Council and scheduled to become fully operational in early 2024). The Alces Lake project area is 38,522.43 contiguous hectares (95,191 acres) in size and is 100 per cent owned by Appia.

All lithogeochemical assay results of core samples were provided by Saskatchewan Research Council's geoanalytical laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, Sask. All analytical results reported herein have passed internal quality assurance/quality control review and compilation.

The technical content in this news release was reviewed and approved by Dr. Annesley, PGeo, vice-president, exploration, and a qualified person as defined by National Instrument 43-101.

About Appia Rare Earths and 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 113,837.15 hectares (281,297.72 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.

We seek Safe Harbor.