Mr. Tom Drivas reports

APPIA ANNOUNCES CORRECTED TARGET IV TOTAL AREA

Further to Appia Rare Earths & Uranium Corp.'s press release issued earlier today, the total area for Target IV has been updated to 193 hectares, with the further delineation of the SW extension zone, a significant high-grade rare earth element mineralized zone located in the southwest corner of the Target IV zone. This discovery spans an area of over 1,000 metres by 500 metres, with an average thickness of approximately 19 metres, and builds on the previously announced remarkable PCH-RC-63 results. (See the Oct. 31, 2023, press release.) The press release issued earlier today erroneously listed the total area shown for Target IV as 1,702 hectares, rather than 193 hectares.

Highlights:

• High-grade SW extension zone:
  • 10 reverse circulation holes with a total weighted average of 7,578 parts per million or 0.76 per cent total rare earth oxide, including:
    • 1,744 ppm or 0.17 per cent magnet rare earth oxide, 416 ppm or 0.04 per cent heavy rare earth oxide, and 7,162 ppm or 0.71 per cent light rare earth oxide;
    • The SW extension zone currently spans approximately 0.5 square kilometre with average hole depths of 19 metres -- all open at depth;
• Highest-grade RC and auger intercepts:
  • PCH-RC-067 from zero to 11 metres, end of hole:
    • 24,309 ppm or 2.43 per cent TREO, 5,717 ppm or 0.57 per cent MREO, 1,452 ppm or 0.15 per cent HREO, and 22,857 ppm or 2.29 per cent LREO;
  • PCH-RC-066 from zero to 13 m, EOH:
    • 12,858 ppm or 1.29 per cent TREO, 2,789 ppm or 0.28 per cent MREO, 524 ppm or 0.05 per cent HREO, and 12,334 ppm or 1.23 per cent LREO;
  • PCH-RC-063 from zero to 24 m, EOH:
    • 27,188 ppm or 2.72 per cent TREO, 6,293 ppm or 0.63 per cent MREO, 1,369 ppm or 0.14 per cent HREO, and 25,819 ppm or 2.59 per cent LREO;
  • Two AH holes have a total weighted average of 10,249 ppm or 1.02 per cent TREO, including:
  • PCH-AH-29 from zero to seven m, EOH:
    • 4,122 ppm or 0.41 per cent TREO, 1,066 ppm or 0.11 per cent MREO, 361 ppm or 0.04 per cent HREO, and 3,762 ppm or 0.38 per cent light rare earth oxides;
  • PCH-AH-30 from zero to seven m, EOH:
    • 16,375 ppm or 1.64 per cent TREO, 2,955 ppm or 0.30 per cent MREO, 457 ppm or 0.05 per cent HREO, and 15,918 ppm or 1.59 per cent light rare earth oxides.

"We believe that the high-grade nature of the SW extension zone, which contains magnet rare earth oxides sample values of up to 13,212 ppm or 1.32 per cent, places this discovery on a global stage. The fact that all of these holes are still open at depth creates an opportunity to discover additional mineralization at depth," stated Tom Drivas, chief executive officer.

"Appia's work with exploratory auger drilling has delivered compelling results, particularly when the 2023 auger holes PCH-AH-29 and PCH-AH-30 are included, which returned a total weighted average of over 10,000 ppm or 1 per cent TREO over seven m of depth," noted Stephen Burega, president. "Follow-up RC drilling successfully expanded the overall total depth of the high-grade mineralization to an average of approximately 19 metres across this zone, and we've observed mineralization throughout the length of all RC and auger holes. For instance, holes PCH-RC-063 with a total depth of 24 m and PCH-RC-067 with a total depth of 11 m each yielded grades exceeding 24,000 ppm or 2.4 per cent TREO and over 5,000 ppm or 0.5 per cent MREO at the bottom of each drill hole."

The lateral extension and the depth of the SW extension high-grade zone has not been fully tested, and the company eagerly awaits results from the remaining seven RC holes drilled within this new zone, in addition to the numerous RC drill holes to the south located outside of the Target IV boundary. Target IV encompasses 193 hectares, with the SW extension zone occupying about 50 hectares. In total, the PCH project spans 17,551 hectares across 10 claims.

Appia has previously provided details on a total of 57 RC drill holes, showcasing an extraordinary overall total weighted-average grade of 2,287 ppm TREO (see the press release dated Nov. 9, 2023). The company will provide timely updates to investors as assay results are received from the remaining 85 RC, 128 auger and one diamond drill holes, which are located both within Target IV and from various extension zones outside of the main Target IV zone.

Background on the PCH project

The PCH project is located within the Tocantins structural province in the Brasilia fold belt, more specifically, the Arenopolis magmatic arc. The PCH project is 17,551.07 hectares in size and located within the Goias state of Brazil. It is classified as an alkaline intrusive rock occurrence with highly anomalous rare earth element and niobium mineralization. This mineralization is related to alkaline lithologies of the Fazenda Buriti plutonic complex and the hydrothermal and surface alteration products of this complex by supergene enrichment in a tropical climate. The positive results of the geochemical exploration work carried out to date indicate the potential for high-grade REEs and niobium mineral resources within the lateritic ionic adsorption clays.

Quality assurance/quality control

Reverse circulation drill holes are vertical, and reported intervals are true thicknesses. Each is sampled at one-metre intervals, resulting in average sample sizes of five to 25 kilograms. A small representative specimen was taken from each sample bag and placed into a chip tray for visual inspection and logging by the geologist. Quartering was performed at Appia's logging facility using a riffle splitter and continued splitting until a representative sample weighing approximately 500 grams each was obtained, bagged in a resistant plastic bag, labelled, photographed and stored for shipment.

The samples were sent to the SGS laboratory in Vespasiano, Minas Gerais. In addition to the internal QA/QC of the SGS lab, Appia has included its own control samples in each sample batch sent to the laboratory.

Quality control samples, such as blanks, duplicates and standards (CRM), were inserted into each analytical run. For all analytical methods, the minimum number of QA/QC samples is one standard, one duplicate and one blank, introduced into every batch which comprises a full-length hole. The rigorous procedures implemented during the sample collection, preparation and analysis stages underscore the robustness and reliability of the analytical results obtained.

All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of RC samples were provided by SGS Geosol, an ISO/IEC 17025:2005 certified laboratory, which performed its measure of the concentration of rare earth element analyses by inductively coupled plasma mass spectrometry (ICP-MS) analytical methods.

The technical content in this news release was reviewed and approved by Don Hains, PGeo, consulting geologist, 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, Ontario. Lastly, the company holds the right to acquire an up-to-70-per-cent interest in the PCH project, which is 17,551.07 hectares in size and located within the Goias state of Brazil (see the June 9, 2023, press release).

Appia has 130.5 million common shares outstanding and 138.0 million shares fully diluted.

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