American Rare Earths Holds First Wyoming Rare (USA), Inc. Board and Stakeholder Meetings

Rhea-AI Summary

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) held productive initial meetings to accelerate the development of the Halleck Creek project through its wholly-owned subsidiary, Wyoming Rare (USA) Inc. (WRI). The ARR/WRI Board meetings in Cheyenne focused on establishing WRI as a Wyoming-based project with local leadership for the Cowboy State Mine. A special reception was held with Wyoming stakeholders, including business people, ranchers, community members, and elected officials.

The company recently secured a US$7.1 million non-dilutive grant from the State of Wyoming for the Cowboy State Mine. WRI plans to strengthen its operational team and continue project development through further exploration, baseline permitting, and metallurgical test work to update resource estimates over the coming year.

Positive

• Secured US$7.1 million non-dilutive grant funding from the State of Wyoming
• Established Wyoming Rare (USA) Inc. as a local subsidiary to manage the Halleck Creek project
• Plans to strengthen the operational team with project engineers and geologists
• Continued development planned through exploration, permitting, and metallurgical test work

Negative

• None.

DENVER, Sept. 04, 2024 (GLOBE NEWSWIRE) -- American Rare Earths Limited, (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”) is pleased to report productive initial meetings to accelerate development of Halleck Creek, as managed by ARR’s wholly-owned subsidiary, Wyoming Rare (USA) Inc. (WRI). The ARR/WRI Board meetings held in Cheyenne advanced the establishment of WRI as a Wyoming project with Wyoming leadership focused on the development of the Cowboy State Mine at Halleck Creek as an attractive prospect for US based investment and partnerships.

Following the Board meetings, a special reception was held at the offices of Holland & Hart LLP, the Company’s legal advisors, where the Company met with Wyoming stakeholders including business people, ranchers, community members and elected officials.

Commenting on these meetings, Richard Hudson, Chairman of the ARR Board noted, “We appreciate having the opportunity to meet personally with many of our key Wyoming stakeholders and thank WRI President Joe Evers and our partners at Holland & Hart for giving us all the chance to get to know each other better.”

“We deeply appreciate the warm welcome from the Wyoming folks who came to Cheyenne to meet us,” continued Hudson. “I remember especially one gentleman who drove four hours - a good reminder that Wyoming, like Australia, is a big place, but one where we can feel at home while building this vital project.”

The Company recently announced a US$7.1 million non-dilutive grant funding approval for the Cowboy State Mine from the State of Wyoming.

“Wyoming has a long and important relationship with mining and a kinship with Australia that make the Cowboy State Mine a genuine partnership benefitting the State of Wyoming, the US and all our stakeholders,” said Joe Evers, President WRI.

The Company will continue to strengthen the operational team at Wyoming Rare (USA) Inc. with the addition of project engineers and geologists.

Over the coming year, WRI anticipates continued development of Halleck Creek through further exploration, baseline permitting, and continued metallurgical test work, to update resource estimates.

About American Rare Earths Limited:

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) owns Wyoming Rare (USA) Inc. which is focused on the development of the Halleck Creek Project, WY.  It also owns La Paz, AZ rare earth deposit.  Both can potentially become the largest and most sustainable rare earth projects in North America.  The Company is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security.  The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of (REEs) elements to help ensure a renewable future.

Susan Assadi
Media Relations US
sassadi@americanree.com
347 977 7125

Beverly Jedynak
Investor Relations US
Beverly.jedynak@viriathus.com
312 943 1123

FAQ

What is the current status of American Rare Earths' Halleck Creek project?

American Rare Earths is accelerating the development of the Halleck Creek project through its subsidiary, Wyoming Rare (USA) Inc. The company has held initial board meetings and stakeholder receptions in Cheyenne, Wyoming, and plans to continue exploration, permitting, and metallurgical test work over the coming year.

How much grant funding did American Rare Earths (ARRNF) receive for the Cowboy State Mine?

American Rare Earths (ARRNF) received a US$7.1 million non-dilutive grant funding approval from the State of Wyoming for the Cowboy State Mine at Halleck Creek.

What are American Rare Earths' (ARRNF) plans for the Halleck Creek project in 2024?

In 2024, American Rare Earths (ARRNF) plans to strengthen its operational team at Wyoming Rare (USA) Inc. with project engineers and geologists. The company also anticipates continued development of Halleck Creek through further exploration, baseline permitting, and metallurgical test work to update resource estimates.

Who is managing the Halleck Creek project for American Rare Earths (ARRNF)?

The Halleck Creek project is being managed by Wyoming Rare (USA) Inc. (WRI), a wholly-owned subsidiary of American Rare Earths (ARRNF). Joe Evers serves as the President of WRI.