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Appia Rare Earths & Uranium Corp. (CSE: API,OTC:APAAF) (OTCQB: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to provide an update on its Alces Lake Rare Earth Elements (REE) Property in northern Saskatchewan, where the Company has finalized its exploration plans, logistics, and contractor arrangements for an approximately 3,300-metre, 9-hole diamond drill program, with mobilization scheduled to begin on or about May 29, 2026.
The upcoming drill program is designed to test high-priority REE targets identified from Appia's recently announced 2025 ground gravity survey results at Alces Lake. The 2025 results refined and strengthened several target areas first outlined by the 2024 Airborne Gravity Gradiometer survey, with Targets 1, 5, 6, and 7 emerging as first-order priorities.
Targets 1 through 7 were prioritized based on geophysical similarities to the high-grade WRCB zone and the large, near-surface Magnet Ridge zone. Appia intends to test these targets for the potential continuation of REE-mineralized lithological packages at depth and along strike the regional northwest-southeast structural corridor, the same corridor that hosts the property's prolific WRCB and Magnet Ridge zones.
Tom Drivas, CEO and Director of Appia, commented:
"Following the successful identification of several high-priority drill targets at Alces Lake, we are excited to move forward with our approximate 3,300-metre drill program this summer. With logistics now finalized, Appia is ready to take the next step in advancing the broader potential of the Alces Lake REE Property by drill testing targets at depths of approximately 300 to 500 metres that exhibit compelling geophysical similarities to the surface and near-surface WRCB and Magnet Ridge mineralized zones."
The Company will make an announcement once drilling commences and will provide ongoing results as they are received.
Figure 1 - Alces Lake High-Priority Drill Target Zones (Blue) - Alces Lake, Saskatchewan
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Figure 2 - Target 1: Proposed drill holes AL-2025-10, 10a
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Figure 3 - Target 5: Proposed drill holes AL-2025-006, 006a
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Figure 4 - Target 6: Proposed drill holes AL-2025-007, 007a
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Figure 5 - Target 7, Proposed drill holes AL-2025-008, 008a, 008b
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About the Alces Lake Project
The Alces Lake project encompasses some of the highest-grade total and critical* REE and gallium mineralization in the world, hosted within several surface and near-surface monazite occurrences that remain open at depth and along strike.
* Critical rare earth elements/oxides (CREO) are defined here as those that are in short-supply and high-demand for use in permanent magnets that enable modern electronic applications such as electric vehicles and wind turbines. The "magnet alloy" CREO are neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb).
The Alces Lake project is located in northern Saskatchewan, the same provincial jurisdiction that the Saskatchewan Research Council (SRC) is developing a "first-of-its-kind" rare earth processing facility in Canada. The Alces Lake project area is ~ 38,522 hectares (~95,191acres) in size and is 100% owned by Appia.
The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo., Senior Exploration Advisor of Appia and a Qualified Person as defined by National Instrument 43-101.
About Appia Rare Earths & Uranium Corp.
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds a 25% interest in the Ultra Hard Rock and Ultra IAC Projects, which total 42,932.24 ha. in size and are located within the state of Goiás in Brazil. Ultra is obligated to acquire Appia's 25% interest in the Ultra Hard Rock and Ultra IAC Projects in exchange for a 25% equity interest in Ultra once a prefeasibility study has been prepared in respect of the Ultra IAC project and a mineral resource estimate has been prepared in respect of the Ultra Hard Rock project (see November 4, 2025 Press Release 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 194.9 million common shares outstanding, 206.6 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.
| Contact: | |
| Tom Drivas CEO and Director (416) 876-3957 tdrivas@appiareu.com |
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294834
