December 2022 Quarterly Activities and Cash Flow Report

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) provides its activities report for the quarter ended 31 December 2022.

SUMMARY

Gascoyne Reconnaissance Identifies REE Mineralisation (18 October 2022)

• •Anomalous values of up to 0.31% REE (Y+La+Ce+Pr+Nd Only) at the Company’s Skyline project and 0.11% REE (Y+La+Ce+Pr+Nd Only) at Wabli Creek (Critical Elements project) from pXRF readings ¹
• •Anomalous copper of up to 0.5% and arsenic of up to 0.2%, from the Skyline project ¹

Rare Earth Tenement Applications

• Acquisition of four prospective rare earth element exploration licences in the Gascoyne Province of Western Australia (Project)

Anomalous Rare Earth Elements Identified in Carbonatites (7 November 2022)

Critical Elements Project

• Significant REE recorded up to 0.68% REE within pXRF results over an area of 200m x 500m at the Critical Elements Project (Wabli Creek), remaining open along strike to the north and south ¹, *

Skyline Project

• Carbonatites and associated Ironstone discovered within three target areas at the Skyline Project, returning anomalous results up to 0.11% REE* within pXRF results ¹
  
• Anomalous manganese up to 4.3% from the Skyline project identifying another battery metal target for the Company ¹, *

Outstanding High-Grade Niobium, Yttrium & Dysprosium Assays

• High-grade assays of 6.78% Niobium oxide and 3.71% Tantalum oxide, returned from within the Company’s wholly owned Critical Elements Project;
• These results back up the previously reported assay results from rock-chip samples of 32% Niobium oxide and 12.4% Tantalum oxide ²
• Assay results confirm Niobium rich target zone with a potential Total Rare Earth Oxides (TREO) strike length of up to 1.5km
• Assays further highlight the discovery of high grade critical heavy rare earth oxides (HREO) which include:
  • 7226 ppm Yttrium oxide
  • 3430 ppm Dysprosium oxide
  • 4880 ppm Ytterbium oxide
  • 2760 ppm Erbium oxide
  • 450 ppm Terbium oxide
• Significantly, all three of the Company’s granted tenements have returned highly anomalous TREO results >500ppm to a maximum of 25,652 ppm or 2.57% TREO (see Table 4).

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