Appia Reports Diamond Drilling on ULTRA HARD ROCK Carbonatite Target Intercepts 300m at 2.55% Total Rare Earth Oxide from Surface Including 1.7m at 14.27% TREO in Goias, Brazil

Rhea-AI Summary

Appia Rare Earths (OTCQB: APAAF) holds a 25% interest in the ULTRA Hard Rock and ULTRA IAC projects in Goiás, Brazil totaling 42,932.24 ha. Ultra completed a 26-hole, 7,347.1 m diamond program on the Hard Rock carbonatite target.

Preliminary assays for 13 holes show long intercepts from surface, notably 300 m at 2.55% TREO including 1.7 m at 14.27% TREO. Additional assays for 13 drillholes are pending; uranium and thorium averages are low at 7.46 ppm and 66.48 ppm.

Positive

• Long intercept from surface: 300 m @ 2.55% TREO
• High-grade zone: 1.7 m @ 14.27% TREO
• Completed 26 holes, 7,347.1 m diamond drilling program
• Appia holds 25% interest in 42,932.24 ha Brazil projects
• Mineralization remains open at depth and to the northeast

Negative

• Assay coverage incomplete: 13 drillholes pending for full dataset
• No mineral resource estimate reported yet to quantify resources

Toronto, Ontario--(Newsfile Corp. - February 24, 2026) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce that Ultra Rare Earth Inc. ("Ultra") has completed a 26-hole diamond drilling program totaling 7,347.1 metres at the Ultra Hard Rock carbonatite target. Information received from Ultra shows that preliminary assay results have identified significant intervals of Total Rare Earth Oxide (TREO) and Magnet Rare Earth Oxide (MREO). Additional assay results remain pending and are expected in the coming weeks. Appia holds a 25% interest in the ULTRA Hard Rock and ULTRA IAC Projects, which total 42,932.24 ha in size and are located within the state of Goiás in Brazil.

Highlights

Highlights from assays for 13 drill holes received to date are detailed in Table 1. Results from 13 drillholes are pending and will be released when available.

Hole #	From (m)	To (m)	Core Length (m)	TREO (%)	TREO (ppm)	MREO1 (ppm)	MREO/ TREO (%)
UNA-DDH-015	0	300	300	2.55	25,500	4,730	18.5
including	2	99	97	4.52	45,200	8,657	19.1
including	93	99	6	13.30	130,000	21,182	15.9
including	95.3	97	1.7	14.27	142,700	23,235	16.3
including	284	300	16	5.20	52,000	8,082	15.5
UNA-DDH-013	0	300	300	2.39	23,900	3,646	15.2
including	26.6	55.6	29	4.02	40,200	6,708	16.7
UNA-DDH-012	0	240	240	1.97	19,700	3,313	16.8
including	0	40	40	4.27	42,700	7,675	17.9
including	188	220	32	3.04	30,400	4,407	14.5
PCH-DDH-008	0	98	98	2.89	28,900	4,276	14.8
including	16	44	28	4.03	40,300	5,340	13.3
UNA-DDH-009	0	301.05	301.05	1.19	11,900	2,205	18.5
including	48	62	14	3.19	31,900	4,439	13.9
including	210	266	56	1.26	12,600	2,569	20.4
1 Magnet Rare Earth Oxides (MREO) = Neodymium (Nd4O7) + Praseodymium (Pr2O3) + Terbium (TbO11) + Dysprosium (Dy2O3)

 

• Initial results can be viewed using this link and the collar of the executed drillholes using this link.

The Ultra IAC and Hard Rock Projects are unique with two distinct styles of mineralization, Ionic Adsorption Clay REE mineralization associated with the weathered Iporá Granite, (Ultra IAC) and high-grade REE mineralization associated with carbonatite intrusions (Ultra Hard Rock). Drilling work on the ULTRA IAC Target is underway with two Reverse Circulation (RC) rigs on site and two more rigs expected in the first week of March, with plans to drill a total of 952 RC holes. Initial Assay results are expected in the next few weeks. In addition, Ultra will continue exploration drilling with two auger rigs.

Tom Drivas, CEO & Director of Appia, commented: "These latest drill results continue to demonstrate the impressive scale and grade of the Ultra Hard Rock carbonatite mineralized system, with long intercepts from surface and multiple high-grade zones above 4% TREO. Particularly notable is the exceptional high-grade interval of 1.7 metres grading 14.27% TREO at 95.3 metres, which highlights the strength of the system. These results further reinforce our confidence as drilling continues to expand the target zone."

The drillholes (Figure 1) reached up to 300 metres delineating most of the carbonatitic intrusion dimensions and confirm the continuity of the grades already identified in the three drillholes executed on the previous program.

Figure 1– Location of all drillholes completed on the Hard Rock Carbonatite Target.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/284993_3da7efac34486afd_001full.jpg

All assay results received to date clearly delineate the carbonatite body (see Figure 2). Pending assay results are expected to further define the extent and geometry of the mineralized intrusion and will support the development of a future mineral resource estimate. Appia remains highly encouraged by the scale and mineralization potential of the carbonatite system.

The presence of uranium and thorium is very low with 7.46ppm and 66.48ppm in average, respectively. Mineralization is open at depth and reappears in the northeast indicating a good potential in increasing volumes of the carbonatitic body.

Figure 2– 3D view looking towards North with TREO interval grades of drillholes with results received to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/284993_3da7efac34486afd_002full.jpg

Quality Assurance / Quality Control (QA/QC)

Drillhole intervals are apparent and real thickness, depending on the drillhole inclination. The material produced from the diamond drillholes are sampled at two metre intervals splitting the core in half, resulting in average sample sizes of 4-5 kg. The other Half core is kept in storage for further tests. The original core was logged and photographed.

The bagged samples are sent to the ALS laboratory in Goiânia, Goiás for initial preparation and sent to Lima, Peru for final analysis. In addition to the internal QA/QC of the ALS Lab, Ultra 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 three standard, one duplicate and one blank, introduced in each batch. Several batches were used to comprises the 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 DDH samples were provided by ALS, a Certified Laboratory, which performed their measure of the concentration of rare earth elements (REE) with the ME-MS81h analytical method that uses lithium borate fusion prior acid dissolution and Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Major Element Oxides were done using ME-ICP06h analytical method using lithium borate fusion and inductively coupled plasma atomic emission spectroscopy (ICP-AES).

The technical information in this news release, including the information related to geology, drilling, and mineralization, has been reviewed and approved by Andre L. L. Costa, Chief Geologist of Ultra. Mr. Costa is a APEGS Professional Geoscientist (P.Geo.) and a Fellow of Australian Institute of Geoscientists (FAIG), a Qualified Person (QP) as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Appia Rare Earths & Uranium Corp.

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds a 25% interest in the Ultra Hard Rock and Ultra IAC Projects, which total 42,932.24 ha. in size and are located within the state of Goiás in Brazil. Ultra is obligated to acquire Appia's 25% interest in the Ultra Hard Rock and Ultra IAC Projects in exchange for a 25% equity interest in Ultra once a prefeasibility study has been prepared in respect of the Ultra IAC project and a mineral resource estimate has been prepared in respect of the Ultra Hard Rock project (see November 4, 2025 Press Release here).

The Company is also focusing 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% 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.

Appia has 194.9 million common shares outstanding, 206.6 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.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit www.appiareu.com.

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (X, Facebook, LinkedIn) please feel free to send direct messages.

Contact:

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

Jason Bagg VP Corporate Development (647) 874-5278 jbagg@appiareu.com

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284993

FAQ

What were the key drill results for Appia (APAAF) announced February 24, 2026?

The company reported 300 m at 2.55% TREO from surface, including a 1.7 m interval at 14.27% TREO. According to Appia, those assays come from 13 received holes of a 26-hole, 7,347.1 m diamond drilling program on the Ultra Hard Rock carbonatite.

How much of the ULTRA projects does Appia (APAAF) own and where are they located?

Appia holds a 25% interest in the ULTRA Hard Rock and IAC projects located in Goiás, Brazil covering 42,932.24 ha. According to Appia, the projects host both carbonatite and ionic adsorption clay REE mineralization styles.

Are all assay results from the Ultra Hard Rock drilling available for Appia (APAAF)?

No, assay reporting is incomplete; 13 drillholes remain pending and will be released when available. According to Appia, additional assays are expected in the coming weeks and will help define the intrusion and support a future resource estimate.

What is the uranium and thorium content reported for the Ultra Hard Rock target (APAAF)?

Average radioelement levels are reported as 7.46 ppm uranium and 66.48 ppm thorium, described as very low. According to Appia, these averages come from assays received to date across the carbonatite intercepts.

Will the recent drilling by Ultra advance a mineral resource estimate for Appia (APAAF)?

The drilling results are intended to support a future mineral resource estimate, but no estimate is yet reported. According to Appia, pending assays and further definition drilling will be needed before a formal resource can be completed.