Director Appointment

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Ionic Rare Earths Limited (“IonicRE” or “the Company”) (ASX: IXR) is pleased to advise that Mr. Trevor Benson has been appointed a director of the Company to take immediate effect.

Mr Benson has extensive experience within investment banking, stockbroking, large Australian corporates, and more specifically within the Australian resources industry, including directorships of ASX listed companies.

Mr Benson’s most recent investment banking focus was within SE Asia and China specialising in merger and acquisitions and equity capital market transactions. He advised Australian and International companies, including being exclusive adviser to Chinese State-Owned Enterprises, and Hong Kong listed resource companies.

He has cross border experience on AIM in UK; Hong Kong; China and has advised and listed numerous ASX companies including resources companies with assets in Africa, Europe and SE Asia, resources and oil and gas service companies, and managed, funded and listed copper operations in Zambia.

Mr Benson is currently Executive Chairman of Walkabout Resources Ltd, an African focused resource company, listed on ASX.

Subject to shareholder approval, Mr Benson will be awarded 10 million options exercisable at 1.8 cents per option which will expire on 30 November 2022.

Dr Marc Steffens has advised he wishes to concentrate on his consultancy business and will retire as a director at the close of business on 31 August 2020.

Dr Steffens was instrumental in the acquisition of the Makuutu Rare Earths project and the Company expresses its thanks to Dr Steffens for his stewardship since his appointment as a director. Dr Steffens will continue to provide metallurgical consulting services to IonicRE.

Authorised for release by Brett Dickson, Company Secretary.

For enquiries, contact: Anthony Rovira – Chairman +61 8 9481 2555

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