Appia Announces Correction Confirming the Discovery of Uranium and Rare Earth Element Mineralization During Exploration Program at the Eastside Project, Saskatchewan, Canada

Toronto, Ontario--(Newsfile Corp. - September 4, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") announces that, further to the press release issued earlier today, we confirm the successful discovery of uranium and rare earth element mineralization during the 2024 exploration program at the Eastside property (Figure 1). These promising assay results, analyzed and verified by the Saskatchewan Research Council (SRC) Laboratories in Saskatoon, confirm our exploration models and underscore the significant potential of the Eastside property within Appia's Saskatchewan portfolio. The Press Release issued earlier today erroneously made reference to Rare Earth Elements (REE) in the highlight section instead of referring to uranium (U) mineralization when describing a total of 20 additional samples collected from the southwestern portion of the Eastside property.

Highlights of the 2024 Assay Results:

• Uranium Mineralization:
  • Grab Sample 181213 (Figure 2): U3O8 = 2,523.06 ppm (0.25 wt%), a uranium-bearing zone discovered between "Prospector's Peninsula" and "Highcount Hilltop".
  • Grab Sample 181255 (Figure 3): U3O8 = 673.21 ppm (0.07 wt%), indicating a uranium-bearing zone east of "Highcount Hilltop".
  • Grab Sample 181212 (Figure 4): U3O8 = 644.91 ppm (0.06 wt%), also discovered between "Prospector's Peninsula" and "Highcount Hilltop" further indicating uranium.

Additionally, a total of 20 samples collected from the southwestern portion of the Eastside property exhibited uranium (U) mineralization between 0.01 wt% and 0.25 wt%, further confirming the property's uranium potential.

• Rare Earth Element (REE) Mineralization:
  • Channel Sample 181244 (Figure 5): 1.00 meters of TREO = 0.14 wt%, located in the "Prospector's Peninsula" zone, demonstrating rare earth element (REE) mineralization.

Stephen Burega, President of Appia, stated, "We are excited about the results of our 2024 exploration program at the Eastside property. The discovery of uranium and rare earth elements mineralization aligns perfectly with our exploration models, hypotheses, and company initiatives. These uranium and REE concentrations highlight the favorable potential of this property as a valuable project in our portfolio."

Importance of Eastside's Location for Uranium Mineralization:

The Eastside property, located in the Peter Lake Domain east of Wollaston Lake, is strategically significant due to its proximity to the prolific uranium-bearing Athabasca Basin (Figure 6). The Athabasca Basin is renowned for its uranium deposits and nearby rare earth element discoveries, positioning itself as a major source of global uranium production. The Peter Lake Domain, part of this prolific region, is characterized by favorable geological conditions conducive to uranium mineralization. The presence of uranium and REE concentrations in Appia's recently collected samples validates the potential of the Eastside property to host numerous uranium and REE showings, further emphasizing the value of this property.

Next Steps:

Given the encouraging results, Appia plans to return to the Eastside property to expand investigations near its uranium showings and other areas of interest identified during this program. This follow-up work will aim to delineate the extent of uranium and rare earth element mineralization and assess the potential for further discoveries of both minerals. The results from the 2024 program confirm that the Eastside property has potential for further development and could evolve into a prominent asset for Appia. The company remains enthusiastic about future exploration opportunities and the potential to enhance its Saskatchewan property portfolio.

Appia remains committed to transparency and will continue to provide updates as they advance their exploration efforts in northern Saskatchewan. Appia will soon share more developments with shareholders and the public as details become available.

Summary assay tables are presented below. Click here to access the full, detailed geochemical assay results, providing comprehensive information on the highlighted channel and grab samples identified during the 2024 Eastside Exploration Program.

Figure 1 - Highlighted assay results locations superimposed on U-radiometric grid

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/222205_01c223768487cadf_001full.jpg

Figure 2 - Uranium sample 181213 displaying 0.25 wt% U3O8 hosted within massive biotite

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/222205_01c223768487cadf_002full.jpg

Figure 3 - Uranium sample 181255 displaying 0.07 wt% U3O8 hosted within granodiorite

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/222205_fig3.jpg

Figure 4 - Uranium sample 181212 displaying 0.06 wt% U3O8 hosted within biotite-rich pegmatite

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/222205_fig4.jpg

Figure 5 - Rare earth element sample 181244 displaying 0.14 wt% TREO hosted within granite

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/222205_01c223768487cadf_005full.jpg

Figure 6 - Prolific Mines and Exploration Sites (Athabasca Basin, Peter Lake Domain) near Appia's Eastside Property

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/222205_01c223768487cadf_006full.jpg

Table 1 - U308 (wt%, ppm) Assay Results for the Highlighted Grab Outcrop Samples

2024 Eastside Exploration Program

Table 2 - Composite U3O8% and TREO% Grades for each Channel Line Assayed

Eastside 2024 Exploration Program

Note:
- The REEs Thulium (Tm) and Promethium (Pm) are not reported because they are both extremely scarce in nature, and Pm forms as a product of spontaneous fission of U-238.
- TREO = Total Rare Earth Oxide = sum of La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Yb2O3 + Lu2O3 + Y2O3

Table 3 - Location information regarding each channel sample taken during

the 2024 Eastside Exploration Program

About the Eastside Project

The Eastside Project is strategically located in the Peter Lake Domain, east of Wollaston Lake, within the prolific uranium-bearing Athabasca Basin region of Saskatchewan, Canada. This area is renowned for its significant uranium deposits, surrounding rare earth element plays, and favorable geological conditions that have historically led to high-grade uranium discoveries.

The Eastside Property is located in northern Saskatchewan east of the Athabasca Basin and is situated in close proximity to several known uranium and REE deposits and mineralization trends. The Eastside project area is 4,933.47 hectares in size and is 100% owned by Appia The project area has been identified as prospective for both uranium and rare earth element (REE) mineralization based on previous and current geological exploration.

* 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" rare earths (CREO) are neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb).

Grab samples were collected using a rock hammer where possible, and sample selection location was determined using handheld scintillometers and spectrometers. The area with the highest scintillometer readings may or may not have been sampled. A total of 34 grab samples were collected during the 2024 exploration program.

Channel samples were collected along channel sample lines spaced at variable distances apart depending on lithological contacts. Sample lines ranged from 1.6 m to 8.00 m in length. A total of 31 samples were diamond saw-cut and collected from 24.60 m of total surface length. Individual sample length intervals ranged from 0.50 m to 1.00 m in length, 2.5 cm wide, and 2.0 to 5.0 cm deep.

All lithogeochemical assay results of grab and channel samples were provided by Saskatchewan Research Council's Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK. All analytical results reported herein have passed internal QA/QC review and compilation.

The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo., Senior Technical Advisor for Appia and a Qualified Person as defined by National Instrument 43-101.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222205