Mr. Tom Drivas reports

APPIA ANNOUNCES EXTENSION OF ITS NON-BROKERED WORKING CAPITAL PRIVATE PLACEMENT

Appia Rare Earths & Uranium Corp. is extending its non-brokered private placement, announced on July 12, 2024, of up to 10 million working capital units of the company at a price of 10 cents per WC unit for up to $1-million to provide the company with working capital and financing for exploration at the corporation's PCH project in Brazil. The offering is being extended until the earlier of the completion of the offering or Sept. 20, 2024.

Each WC unit consists of one common share of the company priced at 10 cents per common share and one common share purchase warrant. Each WC warrant entitles the holder to purchase one common share at a price of 20 cents until the earlier of: (i) 12 months from closing; or (ii) in the event that the closing price of the common shares on the Canadian Securities Exchange is at least 30 cents for 10 consecutive trading days, and the 10th trading day is at least four months from the closing, the date which is 30 days from the final trading day.

Eligible finders may receive up to 6 per cent of the value of proceeds on the sale of the WC units in cash and up to 6 per cent of the number of WC units sold in the form of brokers' warrants. Each broker's warrant issued in relation to the sale of WC units entitles the holder to acquire one common share of the corporation a price of 10 cents for 12 months from the closing.

Insiders of the company may subscribe for up to 25 per cent of the offering. The insider private placements are exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101, as the fair market value of the consideration for the securities of the company which will be issued to the insiders will not exceed 25 per cent of its market capitalization.

About Appia Rare Earths & Uranium Corp.

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The company holds the right to acquire up to a 70-per-cent interest in the PCH ionic adsorption clay project (see June 9, 2023, press release), which is 40,963.18 hectares in size and located within Goias state, Brazil (see Jan. 11, 2024, press release). The company is also focused on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and 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 94,982.39 hectares (234,706.59 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.

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