Wyoming Rare USA Secures Strategic Facility to Support Halleck Creek Project

Rhea-AI Summary

American Rare Earths (ARRNF) has announced that its subsidiary, Wyoming Rare (USA), has secured a facility at the Western Research Institute in Laramie, Wyoming. This development follows a recent $7.1 million grant from the State of Wyoming for rare earth processing initiatives.

The facility will serve multiple purposes, including housing drill core and assay samples, and accommodating the construction of a pilot plant for processing capabilities. The Western Research Institute, a not-for-profit research organization, specializes in advanced energy systems, environmental technologies, and materials research.

This strategic partnership aims to advance the Halleck Creek Rare Earths Project and strengthen Wyoming's position in critical minerals development while supporting the company's mission to onshore critical mineral supply chains for the USA.

Positive

• Secured $7.1 million grant from Wyoming State
• New facility acquisition for centralized operations and pilot plant
• Strategic partnership with established research institute
• Enhanced operational capabilities for rare earth processing

Negative

• None.

DENVER, Dec. 20, 2024 (GLOBE NEWSWIRE) -- American Rare Earths Limited (ARR) (ASX: ARR | OTCQX: ARRNF, AMRRY) is pleased to announce that its wholly owned subsidiary, Wyoming Rare (USA) Inc., has secured a facility at the Western Research Institute in Laramie, Wyoming. This significant development marks a key step forward in the company’s efforts to progress the Halleck Creek Rare Earths Project and enhance its operational capabilities in the region.

This follows the recent award of a USD $7.1 million grant from the State of Wyoming to support the advancement of the company’s rare earth processing initiatives. The facility, situated in a strategic location, will serve as a hub for exploration, processing, and future development activities, enabling the company to align its efforts with state-backed initiatives to bolster critical mineral development.

Key Features of the Facility and Partnership:

• Centralized Operations: The facility will house all drill core and assay samples collected to date, providing a central location for streamlined operations.
• Future Pilot Plant Site: The space will accommodate the construction of a pilot plant, advancing the development and testing of processing capabilities for the project.
• Collaboration: This partnership lays the groundwork for further synergies, leveraging the Western Research Institute’s expertise.
  

The Western Research Institute, located in Laramie, Wyoming, is a multi-million dollar, not-for-profit, research organization renowned for work in advanced energy systems, environmental technologies and materials research and technologies. Their headquarters and advanced technology center includes laboratories, pilot facilities and room for new development.

“This is an exciting milestone for the company and our progression of the Cowboy State Mine at Halleck Creek,” said Joe Evers, President of Wyoming Rare (USA) Inc. “The support of the State of Wyoming and our collaboration with the Western Research Institute highlights Wyoming’s commitment to becoming a leader in critical minerals development. This facility helps to advance our mission of onshoring critical mineral supply chains for the USA while highlighting Wyoming’s position a leader in critical minerals and rare earth elements.”

This announcement has been approved by the CEO of 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.

For additional information:

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d20eda27-652e-4b80-ab6c-96083ea5d765

FAQ

What is the significance of ARRNF's new facility at Western Research Institute?

The facility will centralize operations, house drill core samples, and accommodate a pilot plant for processing capabilities, advancing the Halleck Creek Project and strengthening Wyoming's critical minerals development.

How much grant funding did ARRNF receive from Wyoming State in 2024?

American Rare Earths (ARRNF) received a $7.1 million grant from the State of Wyoming to support the advancement of rare earth processing initiatives.

What are the main purposes of ARRNF's new Laramie facility?

The facility will serve as a hub for exploration, house drill core and assay samples, and accommodate the construction of a pilot plant for processing capabilities.

How will the Western Research Institute partnership benefit ARRNF's operations?

The partnership provides access to advanced laboratories, pilot facilities, and expertise in energy systems, environmental technologies, and materials research, supporting ARRNF's rare earth processing initiatives.