IXR – Phase 4 Resources Drilling to Commence at Makuutu

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• Significant drill program focused on increasing the Indicated Resource base at the Makuutu Rare Earth Project to commence shortly
• The infill drill program will initially incorporate 1 rig with an additional rig planning to be mobilised shortly thereafter
• Increasing the Indicated component of the Resource base will enable additional tonnage from the 315 Million Tonne Resource to be incorporated into updated economic studies – the recently announced initial Scoping Study incorporated only 26% of the total Mineral Resource Estimate tonnage
• The program will also include a Resource extension drilling allocation scheduled to convert RL1693 Exploration Targets
• The Phase 3 reconnaissance RAB drill program has now been completed across all five Makuutu tenements, assays are expected by end of June

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