Mineral Resource Estimate Increased Threefold at Makuutu

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The Board of Ionic Rare Earths Limited (“IonicRE” or “The Company”) (ASX: IXR) is pleased to advise of a substantial 210% increase to the Mineral Resource Estimate (“MRE”) at its 51% owned Makuutu Rare Earths Project (“Makuutu”), which is estimated at 315 Million tonnes at 650 ppm Total Rare Earth Oxide (“TREO”) with a cut-off grade of 200 parts per million (“ppm”) TREO minus CeO2.

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