Mr. Tom Drivas reports

APPIA ANNOUNCES COMMENCEMENT OF ITS 2023 EXPLORATION AND DRILLING PROGRAMS AT ITS ALCES LAKE PROJECT IN SASKATCHEWAN

Appia Rare Earths & Uranium Corp. has begun the initial mobilization of its field crew at its 100-per-cent-owned Alces Lake rare earth element (REE) property in Northern Saskatchewan.

"The 2023 work season will be highly focused on determining high-priority drill targets along the mineralized structural corridor leading SSE [south-southeast] from the Magnet Ridge for upwards of [more than] 20 kilometres," stated Stephen Burega, president of Appia. "Targets will be chosen based on their radiometric signature and followed up by extensive ground truthing with spectrometers and a hand-held XRF [X-ray fluorescence] unit to ensure our drill campaign tracks the continuity of mineralization controlled by this important structural corridor. It is hoped that new surface zones will contain high-grade REE mineralization as well as near-surface, bulk-tonnage, variable-grade mineralization will be discovered with the potential to increase total volume/tonnage on the property."

Based on its 2022 drilling results and new geophysical interpretation of the data, the company will embark on a five-phase program comprising an aggressive prospecting and sampling program, followed up by selective drilling of priority targets and airborne gravity/magnetics/radiometrics at 100-metre line spacing of the identified high-priority areas on the property (the eastern structural corridor and Alces Lake North).

Mobilization of the field crew will take place over the next two weeks.

Dr. Irvine R. Annesley, vice-president, exploration, is pleased that these airborne radiometrics/magnetics/3-D gravity gradiometer surveys will be undertaken to fully delineate, characterize and interpret this distinct structural corridor. He expects that "our increasing understanding of the complex lithological and structural context of the Alces Lake REE minerals system, adjacent to/within the main structural corridor, will ultimately enhance our potential for the discovery of additional mineralized zones at depth along this mylonitic shear zone."

"The Alces Lake property contains variable-grade REE mineralization, including high grade, with some of the highest-grade total REE mineralization in the world and hosted within a number of surface and near-surface occurrences that remain open at depth and along strike," stated Mr. Annesley. "The United States and Canadian governments are actively pursuing critical REE resources to build a domestic REE supply chain within North America and hope to see the Alces Lake project as part of the answer to this demand."

Planned 2023 exploration program

The exploration program is scheduled to start in early June and is planned to include the following five phases:

• Phase I:
  • Helicopter-supported detailed regional ground prospecting, mapping and sampling of the structural corridor area;
  • Helicopter-supported detailed regional ground prospecting, mapping and sampling over historic REE occurrences of the Alces Lake North area;
• Phase II:
  • 5,000 metres of helicopter-supported diamond drilling of: (1) priority targets following the strike extension south-southeast from the Wilson, Richard, Charles, Bell, Ivan, Dylan, Dante and AMP zones through the Magnet Ridge zone for approximately 20 kilometres; (2) the southern extension of the Magnet Ridge zone (delineation drilling); and (3) reconnaissance drilling on priority regional geological/geophysical targets in the Western anomaly area;
• Phase III:
  • Airborne gravity/magnetics/radiometrics (AGG) geophysical survey of the structural corridor at 100-metre line spacing to map the REE minerals system of the structural corridor area from surface to depth in order to prioritize drill targets;
• Phase IV:
  • Airborne gravity/magnetics/radiometrics (AGG) geophysical survey of Alces Lake North at 100-metre line spacing to map the REE minerals system of Alces Lake North from surface to depth in order to prioritize drill targets;
• Phase V:
  • Mineralogical/petrological characterization (IRAP (industrial research assistance program) study) of the major REE zones/subzones at WRCB/Ivan/Dylan/Dante and Magnet Ridge to understand/interpret the enigmatic complex mineral system at Alces Lake; note: PhD research indicates that the mineralization is protracted and pulsed over approximately 90 million years of sustained anatectic melting to produce the low-grade to high-grade REE mineralization at Alces Lake).

Exploration permits for the proposed phases I and phase II are approved and those of phase III and phase IV will be submitted shortly.

Background on Alces Lake

In 2022, the company completed an aggressive 17,500-metre diamond drilling campaign of: (1) the WRCB extension at depth and southward; (2) new targets at Magnet Ridge and Magnet Ridge West; and (3) some regional Western anomaly targets. Targets were identified primarily through the interpretation of the company's 2021 airborne radiometric (uranium, thorium and potassium) survey in conjunction with its 2021 and 2022 prospecting results.

Continuing work at Alces Lake is following up on a distinct structural corridor (mylonitic shear zone), identified in 2019 from magnetic/gravity worms and from legacy GSC mapping data, that forms the eastern limb of a major fold structure that hosts the low-grade to high-grade mineralized vein system (known as the WRCB/Ivan/Dylan/Dante zones). The mineralized zones (vein system) on surface average 15 metres to 50 metres in width and are composed of individual veins, pods and boudins, which range from one metre to tens of metres in thickness. Veins, pods and boudins are discontinuous and heterogeneous in composition to approximately 250-metre depth and follow a linear to anastomosing (branching) structural geometry. This REE mineral system extends south-southeast along strike for at least four to five kilometres to Magnet Ridge. The limits of this mineralized system have not been established along strike or along dip, and therefore its extension remains unknown. However, the associated structural corridor that borders (and includes) the mineralization system is identified readily on lidar and Google Earth images (macro scale) and can be followed for at least 25 kilometres.

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 (2.5-kilometre-to-4.0-kilometre-wide mylonitic shear zone) that extends south-southeast from the main mineralized zones at WRCB/Ivan/Dylan/Dante to Magnet Ridge and then for another 20 kilometres to 25 kilometres.

The origin and implications of this heterogeneous mylonitic shear zone (for example, an old suture zone stitched by multiple orogenies of Paleoproterozoic age) remain unknown at this time. The proposed high-resolution airborne geophysical surveys will facilitate delineation and mapping of rare-earth-element-mineralized (monazite-bearing) pegmatites and associated biotite schists (glimmerites) adjacent to and within this structural corridor to establish new drill targets. The petrophysical characteristics (density, radiometric and magnetic properties) of monazite and associated REE minerals will be maximized as a vectoring tool for finding new targets (by utilizing the leading-edge geophysical exploration technology at optimal line spacing/orientation).

About the Alces Lake project

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 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 that enable modern electronic applications such as electric vehicles and wind turbines. The magnet metals rare earths are neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb).

The Alces Lake project area is 38,522.43 contiguous hectares (95,191.00 acres) in size and is 100 per cent owned by Appia.

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

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 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 in Ontario.

Appia has 130.5 million common shares outstanding (143.5 million shares fully diluted).

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