Appia Unveils Significant REE, Cobalt and Scandium Assay Results From 47 RC Drill Holes at the Buriti Target Within Its PCH IAC REE Project, Brazil

Toronto, February 20, 2024 - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to report substantial results from a comprehensive exploration campaign, comprising a total of 47 Reverse Circulation (RC) holes as part of our 2023 drilling program in the Buriti REE Target. This target spans approximately 2 km by 1.2 km and is open to the south. The average drill hole depth was 14 metres, with a total weighted average grade of 853 parts per million (ppm) Total Rare Earth Oxide (TREO), 148 ppm Cobalt Oxide (CoO), and 67 ppm Scandium Oxide (Sc2O3) across all 47 drill holes. Scandium is most commonly used in aluminum-scandium alloys for aerospace industry components and for specialized sports equipment such as bicycle frames. Current Scandium average metal price, provided by the Institute for Rare Earths and Metals AG, is US$3,100.00/Kg (99.99% purity) and US$5,200.00 (99.999% purity). Cobalt is primarily used in lithium-ion batteries and in the manufacture of magnetic, wear-resistant and high-strength alloys.

Stephen Burega, President, stated, "There is significant potential in this newly identified REE mineralized zone. While the Buriti Zone has a completely different geological setting from the Target IV alkaline breccia to the north, we continue to see impressive REE results with the addition of significant Scandium and Cobalt values within the same drill holes. Drill holes PCH-RC-116 and PCH-RC-130, both remaining open at depth, highlight this potential. As previously reported, a standout among the analyses is hole PCH-RC-116, exhibiting mineralization averaging 2,109 ppm TREO, 272 ppm CoO, and 128 ppm Sc2O3 to a depth of 24 metres from surface." (Click HERE for press release dated December 12, 2023).

Highlights:

• PCH-RC-116, 0-24m (EOH):
  • Total Weighted Average of 2,109 ppm or 0.21% of Total Rare Earth Oxide (TREO), 396 ppm or 0.04% Magnet Rare Earth Oxide (MREO), 272 ppm CoO, and 128 ppm Scandium Oxide (Sc2O3), including:
    • 2,665 ppm or 0.26% TREO, 515 ppm or 0.05% MREO, 397 ppm CoO, and 136 ppm Sc2O3 across 17 m (from 4- 20 m).
    • 2,938 ppm or 0.29% TREO, 548 ppm or 0.05% MREO, 258 ppm CoO, and 191 ppm Sc2O3 across 17 m (from 11- 24 m).
• PCH-RC-119, 0-18m (EOH):
  • 893 ppm or 0.09% TREO, 222 ppm or 0.02% MREO, 130 ppm CoO, and 71 ppm Sc2O3, including:
    • 1,838 ppm or 0.18% TREO, 471 ppm or 0.05% MREO, 398 ppm CoO, and 93 ppm Sc2O3 across 4 m (from 9-13 m).
• PCH-RC-130, 0-12m (EOH):
  • 4,071 ppm or 0.41% TREO, 854 ppm or 0.08% MREO, 130 ppm CoO, and 39 ppm Sc2O3, including:
    • 4,963 ppm or 0.50% TREO, 1,044 ppm or 0.10% MREO, 131 ppm CoO, and 39 ppm Sc2O3 across 9 m (from 1-12 m).
• PCH-RC-138, 0-13m (EOH):
  • 1,172 ppm or 0.12% TREO, 370 ppm or 0.04% MREO, 211 ppm CoO, and 87 ppm Sc2O3, including:
    • 1,526 ppm or 0.15 % TREO, 495 ppm MREO, 196 ppm CoO, and 50 ppm Sc2O3 across 7 m (from 2-6 m) and,
    • 1,043 ppm or 0.1 % TREO, 332 ppm MREO, 249 ppm CoO, and 124 ppm Sc2O3 across 7 m (from 6-13 m).

The clay/saprolite hosted Buriti REE Target is underlain by mafic and ultramafic lithologic units associated with a Cretaceous-age regional alkaline complex. Despite Buriti's proximity to the south of Target IV, where the lithology consists of granites and alkali breccias, this new target is predominantly composed of intensively weathered gabbro, diorite and pyroxenite.

Tom Drivas, CEO, commented: "Having surpassed a milestone of over 300 combined auger, reverse circulation, and diamond drill holes to date, the Company has commissioned SGS Canada to deliver in the coming weeks a NI 43-101 Technical Report on the PCH Project including a Mineral Resource Estimate (MRE) on the Target IV and Buriti zones."

REVERSE CIRCULATION DRILL HOLE COMPOSITE ASSAY RESULTS BY SGS LAB (PPM)

Table 1 - Denotes weighted average chemical assay results of composites RC samples from Buriti Zone. For a full list of assay results for all 47 RC drill holes, Click HERE.

TREO = ([CeO2 ppm] + [Dy2O3 ppm] + [Er2O3 ppm] + [Eu2O3 ppm] + [Gd2O3 ppm] + [Ho2O3 ppm] + [La2O3 ppm] + [Lu2O3] ppm] + [Nd2O3 ppm] + [Pr2O3 ppm] + [Sm2O3 ppm] + [TbO3 ppm] + [Tm2O3 ppm] + [Yb2O3 ppm]). MREO = ([Dy2O3 ppm] + [Pr2O3 ppm] + [Nd2O3 ppm] + [Sm2O3 ppm] + [TbO3 ppm]). HREO = [Dy2O3 ppm] + [Er2O3 ppm] + [Eu2O3 ppm] + [Gd2O3 ppm] + [Ho2O3 ppm] + [Lu2O3] ppm] + [Sm2O3 ppm] + [TbO3 ppm] + [Tm2O3 ppm] + [Yb2O3 ppm]).

*The Lanthanum values used to convert to oxides were adjusted from 1.1688 to 1.1728 based on James Cook University standard. This change explains the small difference for TREO values previously released.

Table 2 - Buriti Zone RC drill collar details (click HERE) - SIRGAS 2000 - UTM zone 22S.

Figure 1 - Logs of Lithology, Scandium, Cobalt and REE for RC hole PCH-RC-130.

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Figure 2 - Logs of Lithology, Scandium, Cobalt and REE for RC hole PCH-RC-116.

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Map 1 - Map of RC drilling locations at the Buriti Zone, PCH Project, Brazil.

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Appia is continuing to explore additional targets through an ongoing auger drilling program across the expansive 40,963.18 Ha of the PCH property.

Appia will be participating at this year's Prospectors and Developers Association of Canada's (PDAC) event from March 3-6^th 2024 at the Metro Toronto Convention Centre. Please visit our booth #2715. Also, Stephen Burega will also be presenting the Appia Corporate Update on March 6^th at 10:50 am during the Electric Materials 2 session located in room 801B.

QA/QC

Reverse circulation (RC) drill holes are vertical and reported intervals are true thickness. The material produced from drill holes are sampled at one metre intervals, resulting in average sample sizes of 5-25 kg. 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 of the material was performed at Appia's logging facility using a riffle splitter and continued splitting until a representative sample weighing approximately 500g each was obtained, bagged in a resistant plastic bag, labeled, photographed, and stored for shipment.

The bagged samples are sent to the SGS laboratory in Vespasiano, Minas Gerais. In addition to the internal QA/QC of the SGS Lab, Appia includes its own control samples in each batch of samples sent to the laboratory.

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

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 their measure of the concentration of rare earth elements (REE) analyses by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) analytical methods.

The technical content in this news release was reviewed and approved by Mr. Don Hains, P.Geo, Consulting Geologist, and a Qualified Person as defined by National Instrument 43-101.

About Appia Rare Earths & Uranium Corp. (Appia)

Appia is a publicly traded Canadian company in the rare earth element (REE) and uranium sectors. The Company is currently focusing on delineating high-grade critical REE and gallium on the Alces Lake property, as well as exploring for high-grade uranium deposits in the prolific Athabasca Basin on its Loranger, Otherside, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 94,982.29 hectares (234,706.35 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with REE 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% interest in the PCH Ionic Adsorption Clay Project (See June 9^th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11^th, 2024 Press Release - Click HERE)

Appia has 136.3 million common shares outstanding, 144.5 million shares fully diluted.

Cautionary note regarding forward-looking statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.

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For more information, visit www.appiareu.com.

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Contact:

Tom Drivas, CEO and Director
(c) (416) 876-3957
(e) tdrivas@appiareu.com

Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198515