HRE June 2023 Quarterly Activities Report & Appendix 5B

Heavy Rare Earths Limited(“HRE” or “the Company”) is pleased to announce its June 2023 quarterly activities report for the fourth quarter since listing on the Australian Securities Exchange (ASX).

• Assays from final 98 holes at Cowalinya deliver high-grade rare earths up to 14 kilometres from newly discovered Western Zone
  
• Resource consultant engaged to update Mineral Resources and estimate Exploration Target for Cowalinya project
• Strategic Metallurgy completes diagnostic leach test work to support the design of a metallurgical flow sheet for Cowalinya
• Reconnaissance visit to Duke rare earth project identifies extensive area for first- pass systematic exploration
• New tenement for rare earths exploration granted in Western Australia
• Well-funded to progress with company objectives and exploration activities

HRE’s key exploration project is Cowalinya in the Norseman-Esperance region of Western Australia. This is a clay-hosted rare earth project with a JORC Inferred Resource of 28 Mt @ 625 ppm TREO1 and a desirable rare earth composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths.

Cowalinya Rare Earth Project, Western Australia

Resource Exploration and Expansion Program

During the quarter the Company announced assays from the final 98 air core holes from its 441-hole resource exploration and expansion drilling program at Cowalinya (refer to ASX announcements 12 April 2023 and 1 May 2023) completed in the September-December 2022 period.

Click here for the full ASX Release

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