American Rare Earths Appoints Andrew Conover as Chief Development Officer

Rhea-AI Summary

American Rare Earths (ASX: ARR, OTCQX: ARRNF, ADR: AMRRY) has appointed mining projects executive Andrew Conover as Chief Development Officer, a new role focused on advancing the flagship Halleck Creek Rare Earths Project in Wyoming through the current Pre-Feasibility Study, a planned Final Feasibility Study, and towards construction.

According to the company, Conover brings around 20 years of mining project execution experience across the Americas, including leadership of a brownfield copper-molybdenum mill restart with an approximately US$350 million capital budget. As CDO, he will integrate and drive Halleck Creek’s pre-feasibility and feasibility programs, establish a development and execution framework from feasibility into permitting, detailed engineering and construction, and support a whole-of-property development assessment beyond the initial Cowboy State Mine area. The company also announced the retirement of Dwight Kinnes, recognizing his substantial contribution to Halleck Creek.

Positive

• Creation of Chief Development Officer role dedicated to Halleck Creek’s PFS, FS and construction
• Approximately 20 years of mining project execution experience added via Andrew Conover
• Prior leadership of a brownfield restart with ~US$350 million capital budget
• New role aimed at de-risking Halleck Creek and strengthening project delivery capability

Negative

• Retirement of key contributor Dwight Kinnes from the Halleck Creek project

News Market Reaction – ARRNF

-1.45%

-1.45% Session close to close

In the Jul 20 session, ARRNF declined 1.45%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

A prior director appointment recorded a 3.1% 24-hour reaction, providing a constructive historical c...

Analysis

A prior director appointment recorded a 3.1% 24-hour reaction, providing a constructive historical comparison. Here, the added execution role is relevant to project delivery, while feasibility and construction progress remain key watch points.

Key Figures

Mining project experience: approximately 20 years Capital budget: approximately US$350 million

2 metrics

Mining project experience approximately 20 years Andrew Conover's experience across the Americas

Capital budget approximately US$350 million Brownfield copper-molybdenum mill restart

Historical Context

5 past events · Latest: Jun 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 24	Director appointment	Positive	+3.1%	Veteran miner appointed to board and technical committee ahead of feasibility and construction.
Jun 18	Exploration update	Positive	+1.9%	Company outlined 2026–2027 field programs led by feasibility-stage work at Halleck Creek.
May 27	Drilling commencement	Positive	+2.2%	Company commenced drilling intended to support the Halleck Creek definitive feasibility study.
Apr 28	Leadership appointments	Positive	+0.7%	Two Wyoming-focused leaders joined to support government affairs, permitting and project engineering.
Apr 09	Pilot plant pathway	Positive	+0.0%	Company defined a three-stage pilot plant pathway for pre-production rare earth oxide.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

All five recent company news events in the platform record had positive 24-hour reactions, including the prior leadership appointment.

Key Terms

pre-feasibility study, feasibility study, brownfield, tailings

4 terms

pre-feasibility study technical

"driving the Halleck Creek Pre-Feasibility Study (PFS)"

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

feasibility study technical

"the planned Final Feasibility Study (FS)"

A feasibility study is an assessment that evaluates whether a proposed project or idea is practical and likely to succeed before investing significant time and resources. It considers factors like costs, potential benefits, and challenges, helping stakeholders decide if moving forward makes sense. Think of it as a detailed plan that gauges if a new venture is worth pursuing.

brownfield technical

"leadership of a brownfield copper-molybdenum mill restart"

A brownfield is a property or site that has been previously developed or used—often with existing buildings, infrastructure, or environmental contamination—and is being reused, redeveloped, or expanded rather than built on from scratch. For investors it matters because brownfields can offer cost and time savings compared with starting new (like renovating an old house versus building one), but they also carry risks such as cleanup obligations, regulatory delays, and hidden expenses that affect returns and timelines.

tailings technical

"a brownfield copper-molybdenum mill, tailings and associated infrastructure"

Tailings are the leftover rock, water and fine particles produced when ore is crushed and processed to extract metals or minerals. Think of them as the muddy residue from a kitchen filtering process: they are stored in ponds or engineered dams and can carry chemical contaminants, so they matter to investors because they represent ongoing cleanup costs, regulatory liabilities and operational risks that can affect a mining company’s finances and reputation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Experienced mining project executive to help advance Halleck Creek through Pre-Feasibility, Feasibility Study and towards construction

HIGHLIGHTS

Andrew Conover appointed Chief Development Officer (CDO), a new executive role responsible for driving the Halleck Creek Pre-Feasibility Study (PFS), Final Feasibility Study (FS) and towards construction. Mr. Conover brings approximately 20 years of mining project execution experience across the Americas, including leadership of a brownfield copper-molybdenum mill restart with an approximately US$350 million capital budget. The CDO role is intended to strengthen internal project delivery capability and support execution from feasibility through permitting, detailed engineering and construction. American Rare Earths also advises that Dwight Kinnes has retired from the Company after making a substantial contribution to Halleck Creek.

DENVER, July 20, 2026 (GLOBE NEWSWIRE) -- American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or “the Company”) is pleased to announce the appointment of Andrew Conover as Chief Development Officer (CDO), a new executive role focused on advancing the Company’s flagship Halleck Creek Rare Earths Project in Wyoming through the current Pre-Feasibility Study (PFS), the planned Final Feasibility Study (FS), and towards construction.

APPOINTMENT OF CHIEF DEVELOPMENT OFFICER

Mr. Conover is a mining projects executive with approximately 20 years of experience delivering studies, major capital projects, restarts and brownfield expansions across the Americas. Most recently, he served as Senior Director of Construction at Elko Mining Group / Origin Mining, where he was accountable for the restart of a brownfield copper-molybdenum mill, tailings and associated infrastructure with a capital budget of approximately US$350 million, while achieving strong safety outcomes and disciplined execution.

As Chief Development Officer, Mr. Conover will be responsible for integrating and driving the Halleck Creek Cowboy State Mine pre-feasibility and feasibility programs, including engineering, project controls, risk management and constructability. He will also establish the development and execution framework required to move Halleck Creek efficiently from feasibility into permitting, detailed engineering and construction, while working closely with technical, operations and permitting teams to support long-term safety, operability and capital discipline.

In addition, he will help advance the Whole of Property Development Assessment for the broader, multi-generational Halleck Creek deposit beyond the initial Cowboy State mine.

“Andrew brings exactly the kind of real-world project execution experience we need as Halleck Creek enters its PFS and final Feasibility Study phase. His track record delivering large, complex mining projects from study through construction will help ensure Halleck Creek is advanced as a buildable, financeable project that can move into construction as quickly and responsibly as possible.” - Mark Wall, Chief Executive Officer, American Rare Earths

“Halleck Creek is a unique opportunity to help build a large-scale, U.S.-based rare earth project at a time when domestic critical minerals supply is front of mind for government and industry. I’m excited to join American Rare Earths at this pivotal stage and to work with the team and stakeholders in Wyoming to advance the project through feasibility and toward construction.” - Andrew Conover, Chief Development Officer, American Rare Earths

The creation of the Chief Development Officer role reflects the Company’s focus on de-risking Halleck Creek as a future domestic source of rare earths for defense, energy, and advanced manufacturing supply chains, and on aligning internal capabilities with the scale and strategic importance of the project.

The Company also advises that Mr. Dwight Kinnes has retired from the Company. American Rare Earths thanks Mr. Kinnes for his substantial work on the Halleck Creek project and wishes him the best in his retirement.

This announcement has been authorized for release by the Board of American Rare Earths Limited.

ABOUT THE HALLECK CREEK RARE EARTHS PROJECT

The Halleck Creek Rare Earths Project, located in Wyoming, is described by the Company as the largest known rare earth deposit in the United States on a total rare earth oxide (TREO) basis¹. The Cowboy State Mine area is being advanced as the initial development area, while the Company also continues to assess the broader long-term potential of the overall property.

ABOUT AMERICAN RARE EARTHS LIMITED

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) is a critical minerals company focused on advancing the Halleck Creek Project through its wholly owned subsidiary, Wyoming Rare (USA) Inc. The Company states that Halleck Creek has the potential to support U.S. critical mineral independence and that it continues to work on innovative extraction and processing technologies with support from U.S. government-backed research program. Further information is available at www.americanree.com.

INVESTOR AND MEDIA CONTACTS Investor Relations Nick Lissolo nlissolo@americanree.com

Stock Information ASX: ARR OTCQX: ARRNF ADR: AMRRY Media Contact: Susan Assadi sassadi@americanree.com 347 977 7125 Additional Investor Relations US Contact: Beverly Jedynak Beverly.jedynak@viriathus.com 312 943 1123

________________________________
¹ Refer ASX announcement dated 4 February 2025

FAQ

What did American Rare Earths (AMRRY, ARRNF) announce on July 20, 2026?

American Rare Earths announced the appointment of Andrew Conover as Chief Development Officer to lead development of the Halleck Creek Rare Earths Project. According to the company, this new role focuses on advancing the project through Pre-Feasibility, Final Feasibility and toward construction.

Who is Andrew Conover, the new Chief Development Officer of American Rare Earths (AMRRY)?

Andrew Conover is a mining projects executive with about 20 years experience across the Americas. According to American Rare Earths, he previously led a brownfield copper-molybdenum mill restart, tailings and infrastructure with an approximately US$350 million capital budget.

What will the Chief Development Officer do for the Halleck Creek project at American Rare Earths (ASX: ARR)?

The Chief Development Officer will integrate and drive Halleck Creek’s pre-feasibility and feasibility programs and prepare it for construction. According to American Rare Earths, duties include engineering oversight, project controls, risk management, constructability and transitioning into permitting and detailed engineering.

How does the new CDO role affect the Halleck Creek Cowboy State Mine development?

The CDO role is designed to coordinate the Cowboy State Mine pre-feasibility and feasibility work and related execution framework. According to American Rare Earths, this includes supporting long-term safety, operability and capital discipline as the project advances toward potential construction.

Why did American Rare Earths create a Chief Development Officer position for Halleck Creek?

American Rare Earths created the CDO role to align internal capabilities with Halleck Creek’s scale and strategic importance. According to the company, the role reflects its focus on de-risking Halleck Creek as a potential domestic rare earths source for defense, energy and advanced manufacturing.

What change did American Rare Earths report regarding Dwight Kinnes and the Halleck Creek project?

American Rare Earths reported that Dwight Kinnes has retired from the company after contributing substantially to Halleck Creek. According to the company, it thanked Kinnes for his work on the project and extended best wishes for his retirement.

What is the Halleck Creek Rare Earths Project that American Rare Earths (ARRNF) is advancing?

Halleck Creek is a rare earths project in Wyoming described by the company as the largest known U.S. rare earth deposit on a TREO basis. According to American Rare Earths, the Cowboy State Mine is the initial development area within this broader, multi-generational property.