Appia Earns Initial 10% Legal and Beneficial Interest in the PCH Project

Appia Earns Initial 10% Legal and Beneficial Interest in the PCH Project

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") announced today that, further to its press release dated December 4, 2023, Appia has earned its initial 10% legal and beneficial ownership interest in Appia Brasil Rare Earths Mineracao Ltda (the "Appia Brasil") the Brazilian company that holds the PCH Project (the "Property") located in the Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil.

Stephen Burega, President stated, "We have accomplished an amazing amount of work over the past year with a modest budget of $1 million USD. We achieved many milestones including a maiden Mineral Resource Estimate (MRE) on our first two targets, Target IV and Buriti Zone (See press release dated March 1st, 2024); we completed initial desorption testing confirming the ionic clay characterization of the mineralization; and we identified an additional four (4) new highly prospective target zones covering an area of over 2,400 hectares while re-confirming that the regolith developed over the Ipora Granite presents significant enrichment of Heavy Rare Earth Oxides (HREO), indicative of Ionic Adsorption Clay (IAC) rare earth elements (REE) deposits. The impressive HREO results identified across multiple zones of homogeneous mineralization highlights the true potential of the PCH project."

Pursuant to the Quotaholders Agreement among Appia, Beko Invest Ltd. ("Beko") and Antonio Vitor Junior ("Antonio") dated July 20, 2023 (the "Quotaholders Agreement"), which governs the ongoing exploration and development of the Property, Appia has expended in excess of US$1 million as required by the Quotaholders Agreement to earn its initial 10% interest in Appia Brasil. Appia will be issuing the second tranche of 500,000 shares to Beko on or before June 19th, 2024. Beko will be granted a 1% net smelter returns royalty (the "1% NSR") in the Property. Appia will have a right of first refusal to acquire the 1% NSR. The 500,000 shares to be issued will be subject to a four month and one day hold period from the date of issuance.

Appia can maintain its 70% interest in Appia Brasil by issuing an aggregate of a further 1.5 million common shares of Appia to Beko and spending a further approximately US$9 million on the Property over a period of a further four (4) years after which Appia will have earned a 60% interest in Appia Brasil. If Appia earns its 60% interest, it will then be obligated, within 90 days of earning its 60% interest, to issue a further US$1,250,000 of common shares of Appia to Beko to earn a further 10% interest in Appia Brasil. The number of shares to be issued to earn the further 10% shall be that number of common shares of Appia equal to the number arrived at by dividing US$1,250,000 by the greater of the average closing price of the common shares as quoted on the Canadian Securities Exchange (the "CSE") for the 30 trading days immediately preceding the announcement by Appia of its intention to earn the additional 10% interest and the discounted market price of the common shares of Appia based on the last closing price immediately preceding the announcement.

Once Appia has earned its 70% interest in Appia Brasil, Appia and Antonio will enter into a joint venture with respect to the further exploration and development of the Property (the "Joint Venture") with Appia holding a 70% interest and Antonio holding a 30% interest in Appia Brasil in accordance with the terms of the Quotaholders Agreement. Reference is made to the December 4, 2023 press release for further particulars relating to the Joint Venture.

About Appia Rare Earths & Uranium Corp. (Appia)

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project (See June 9th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11th, 2024 Press Release - Click 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 136.3 million common shares outstanding, 145 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.

To book a one-on-one 30-minute Zoom video call, please click here.

Contact:

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

Stephen Burega, President
(c) (647) 515-3734
(e)
sburega@appiareu.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212641

News Provided by Newsfile via QuoteMedia

API:CC
The Conversation (0)
Appia Rare Earths & Uranium (CSE:API)

Appia Rare Earths & Uranium

Sustainable exploration for High-grade REE and Uranium Deposits in Canada and Brazil to Support Clean Technologies

Sustainable exploration for High-grade REE and Uranium Deposits in Canada and Brazil to Support Clean Technologies Keep Reading...
Appia Begins Drilling at the Uranium-Bearing Loranger Property, Wollaston Lake, Saskatchewan, Canada

Appia Begins Drilling at the Uranium-Bearing Loranger Property, Wollaston Lake, Saskatchewan, Canada

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is excited to announce the commencement of its diamond drilling program at the uranium-bearing Loranger property adjacent to the renowned Athabasca Basin. The goal of this... Keep Reading...
Appia to Conduct a Diamond Drilling Program at Its Uranium-Bearing Loranger Property, Wollaston Lake, Saskatchewan, Canada

Appia to Conduct a Diamond Drilling Program at Its Uranium-Bearing Loranger Property, Wollaston Lake, Saskatchewan, Canada

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce the details regarding their upcoming diamond drilling program at their Loranger property, SK. Located within the eastern Wollaston Domain, Loranger is... Keep Reading...
Appia to Conduct a Targeted, High Resolution, Airborne Gravity Survey over the REE-Rich Alces Lake Property, Saskatchewan, Canada

Appia to Conduct a Targeted, High Resolution, Airborne Gravity Survey over the REE-Rich Alces Lake Property, Saskatchewan, Canada

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce the upcoming Falcon Airborne Gravity Gradiometer (AGG) and Magnetic survey over its Alces Lake property in northern Saskatchewan. This survey,... Keep Reading...
Appia Begins Uranium Exploration Season with Ground Reconnaissance at "Eastside" Project, Saskatchewan, Canada

Appia Begins Uranium Exploration Season with Ground Reconnaissance at "Eastside" Project, Saskatchewan, Canada

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce the beginning of their summer uranium exploration season for 2024. To start, Appia recently completed a ground reconnaissance and exploration program... Keep Reading...
Appia Rare Earths and Uranium Corp. to Present at the Emerging Growth Conference on May 29th, 2024

Appia Rare Earths and Uranium Corp. to Present at the Emerging Growth Conference on May 29th, 2024

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce that it has been invited to present at the Emerging Growth Conference on May 29th, 2024.This live, interactive online event will give existing... Keep Reading...
Allied Critical Metals Earns Strategic Recognition from idD Portugal Defence - Strengthening Europe's Tungsten Security

Allied Critical Metals Earns Strategic Recognition from idD Portugal Defence - Strengthening Europe's Tungsten Security

Highlights:idD Portugal Defence, the Portuguese public entity overseeing the nation's Defence Industry, has endorsed Allied's Borralha Tungsten Project as a strategic initiative of national importance.ibD Portugal Defence has direct impact on Portugal's and Europe's defence supply chains.Allied... Keep Reading...
Element One Hydrogen and Critical Minerals

Element One Hydrogen and Critical Minerals Announces Letter of Intent to Acquire Hydrogen and Critical Mineral Extraction Technology

Element One Hydrogen and Critical Minerals Corp. (CSE: EONE) ("Element One" or the "Company") is pleased to announce that it has entered into a Letter of Intent ("LOI") with Stone to H2, Inc. ("Stone to H2"), a New York corporation that owns proprietary technology for subsurface critical mineral... Keep Reading...
Canadian Investment Regulatory Organization Trade Resumption - WHY

Canadian Investment Regulatory Organization Trade Resumption - WHY

Trading resumes in: Company: West High Yield (W.H.Y.) Resources Ltd. TSX-Venture Symbol: WHY All Issues: Yes Resumption (ET): 8:00 AM CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a... Keep Reading...
Allied Critical Metals Drills 10.0 Metres of 1.11% Tungsten  at Borralha

Allied Critical Metals Drills 10.0 Metres of 1.11% Tungsten at Borralha

Substantial Assays Strengthen Shallow Central-South Mineralization and Support Robust Outlook for Upcoming Preliminary Economic AssessmentAllied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company"), which is focused on its 100% owned past producing... Keep Reading...

Latest Press Releases

Related News