APPLICATION FOR ADDITIONAL EXPLORATION LICENCES TO INCREASE MAKUUTU PROJECT SCALE

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HIGHLIGHTS:

• IonicRE has applied for Exploration Licence (EL) extending east of Makuutu Eastern Zone (EL 1766), following the radiometric anomaly trend and within the sedimentary basin margin which hosts elevated heavy rare earth mineralisation

• Potential to translate to a substantial step-change in ionic adsorption clay mineralisation at Makuutu to support increased heavy and critical rare earth dominant production scenarios

• The new EL application significantly increases the tenement claim at Makuutu by approximately 80%, and increases the prospective strike from 26km to 36km

• Current Exploration Target likely to materially increase

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