Mr. Stephen Burega reports

APPIA ANNOUNCES SIGNIFICANT GEOCHEMICAL CRITICAL REE ASSAY RESULTS AT ALCES LAKE PROJECT, SASKATCHEWAN, CANADA

Appia Rare Earths & Uranium Corp. has released significant initial geochemical assay results derived from the 2023 drilling program conducted on the Magnet Ridge zone at its Alces Lake project in Northern Saskatchewan. These promising findings mark a pivotal milestone in the company's continuing commitment to advancing exploration and development initiatives within the prolific Athabasca basin area. The drilling campaign, instrumental in extending mineralization farther to the south-southeast, underscores Appia's dedication to unlocking the full potential of this project.

Highlights:

• Assays of up to 1.57 weight per cent (15,700 parts per million) total rare earth oxides (TREO) were returned, with thickness and grades increasing to the south-southeast;
• Highest-grade intercepts:
  • Hole 23-MR-001: 21.91 metres width at 0.366 weight per cent TREO, including 2.67 m at 0.660 weight per cent TREO;
  • Hole 23-MR-002: 25.5 m width at 0.329 weight per cent TREO, including 2.11 m at 0.389 weight per cent TREO and 4.68 m at 0.520 weight per cent TREO;
  • Hole 23-MR-003: 30.5 m width at 0.292 weight per cent TREO, including one at 0.537 weight per cent TREO;
  • Hole 23-MR-006: 6.31 m width at 0.267 weight per cent TREO;
  • Hole 23-MR-007: 9.29 m width at 0.384 weight per cent TREO, including 0.50 m at 0.650 weight per cent TREO;
  • Hole 23-MR-010: 1.80 m width at 0.246 weight per cent TREO.
• Mineralization intervals occur from near surface to less than 85 metres depth; multiple intervals in 23-MR-002 and 23-MR-003, extending downward in a westerly direction;
• Future exploration to continue in the west-southwest (WSW); extending downward into current intersections toward the mineralization at Magnet Ridge West (MRW).

Commencing on June 11, 2023, Appia initiated a comprehensive 3,456.72-metre helicopter-supported diamond drilling program, concluding all field operations on Aug. 24. Prioritizing specific areas spanning the entire property, with dimensions of approximately 20 kilometres in length and five to seven kilometres in width, the drill program systematically targeted key zones. The company has received all assay results stemming from its 2023 summer geochemical exploration initiative. Appia is engaged in the compilation, review and interpretation of these results across all investigated areas. Updates will be disseminated as both results and interpretations become available.

Recent petrographic/mineralogical studies indicate that the rare earth elements (REE) mineralization at Magnet Ridge is hosted primarily in monazite.

"The identification of the Magnet Ridge zone following the 2022 drill campaign was a major success to further delineate potential mineralization at Alces Lake. We can now extend this zone along this segment of the structural corridor," stated Stephen Burega, president. "We completed 11 stepout holes from eight collars, and we are seeing continued mineralization with thick intercepts."

On June 24, 2023, the southern extension drilling at Magnet Ridge concluded, encompassing 11 drill holes with a combined depth of 1,092 metres. A press release dated July 5, 2023, disclosed noteworthy findings, revealing that five drill holes identified significant mineralization intersections, with core intersection widths reaching up to 21.91 metres.

Geological and geophysical interpretation has yielded valuable insights:

1. The down-dip extension of Magnet Ridge toward the west-southwest (WSW) remains open.
2. Mineralization encountered terminates abruptly at the south-southeast end of the thorium (eTh) anomaly, attributed to an east-northeast cross-structure -- a steeply dipping fault that vertically offsets the mineralization down dip on its southern side.
3. The eTh radiometric high exhibits a surface expression approximately 450 metres long by 250 metres wide. The clear down-dip extension to the west-southwest is evident in the X-section of drill holes 23-MR-001, 002 and 003. This consistency aligns with representative X-sections from prior years' drilling in the northern and central segments of Magnet Ridge.

"The first three holes successfully intercepted pebbly biotite schist (glimmerite) mineralization from 32 to 70 metres depth along core axis," affirmed Dr. Irvine Annesley, vice-president of exploration, "Ongoing drilling in 2023 consistently suggests the potential for the down-dip extension of the mineralization to extend west-southwest, potentially reaching depths connecting to Magnet Ridge West (MRW)."

The company is poised to explore mineralization at MRW within a fold structure, with plans to conduct grid/drill testing at depths ranging from 50 to 175 metres. This strategic initiative reflects Appia's commitment to advancing exploration to uncover valuable critical mineral resources.

"The 2023 Alces Lake exploration campaign completed a successful season of prospecting, channel sampling and diamond drilling across the entire large property. Specifically, here at Magnet Ridge, our team was able to delineate the south-southeastmost extent of the Magnet Ridge mineralization," says lead geologist Kahlen Branning. "Our prospecting team has uncovered a multitude of new, potential drill targets on the property that necessitate further detailed exploration, many of these display anomalous radioactive counts, from 5,000 counts per second (cps) to 40,000 cps. These new zones match our original hypothesis regarding the location of low-to-high-grade mineralization along the main regional shear zone and within the fold nose/hinge zone area of a large regional fold structure."

After concluding operations at Magnet Ridge, the drill was relocated to the Jesse zone where the company completed nine diamond drill holes (DDHs). Subsequently, the drill was directed to a particularly promising anomaly within the Western anomalies area, leading to the completion of three diamond drill holes. Advancing further, the drill was repositioned to explore the Hinge and WRCB zones, to test new targets, exhibiting count rates of up to 30,000 cps, as delineated by the continuing 2023 prospecting and channel sampling program. Notably, certain targets underwent drilling using both a diamond drill and a backpack drill, the latter validating emerging RAMP-HD targets at the surface for subsequent drilling initiatives.

About the Alces Lake project

The Alces Lake project encompasses some of the highest-grade total and critical* REE 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 alloy 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.

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 & 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 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake camp, Ontario. Lastly, the company holds the right to acquire up to a 70-per-cent interest in the PCH project which is 40,963.18 ha in size and located within the Goias state of Brazil (see Jan. 11, 2024, press release). The company successfully added 23,412.11 ha to the PCH project's total hectares, bringing the overall project size to 40,963.18 ha.

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