American Rare Earths LtdASX: ARR

Quarterly Activities/Appendix 5B Cash Flow Report

· Issued by American Rare Earths Ltd

Filed with ASX · · 13 pages · English

• Mixed Rare Earths Oxide successfully produced from Halleck Creek ore using the Company’s updated mineral processing flowsheet, representing a key technical milestone for the project1 • Mineral Resource Estimate updated for the Cowboy State Mine area at Halleck Creek, providing an updated geological foundation for ongoing technical studies2, which reclassified indicated resources by 68.4 million

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