Appia Begins Diamond Drilling to Extend and Delineate the Highgrade Mineralization at PCH Target IV in Goias State, Brazil and Announces Acceleration of 2024 Warrants

Executive Summary

• Appia Rare Earths & Uranium Corp. announced the start of a new diamond‑drilling program on Target IV to extend and delineate high‑grade REE mineralization, targeting at least 600 m in three 200‑m holes.
• The company disclosed that 456,250 accelerated warrants (exercisable at $0.15) have been exercised; the remaining 12.15 M warrants will expire on 2025‑11‑19 if not exercised.
• Ultra Rare Earth Inc. is set to close a transaction on 2025‑10‑31 under which it will acquire a 50 % interest in Appia Brasil and invest US$2 million via a private placement of 5,520,000 units at $0.50 Cdn per unit (each unit includes one common share and half a warrant).

Key Details

• Drilling Program
• Commences on Target IV High‑Grade zone; goal to extend mineralization SW, NW and at depth.
• Planned drilling: ≥600 m total, three holes of ~200 m each, ±25‑day schedule.
• Prior results referenced: 9.28 % TREO over 2 m (Jan 2024) and high‑grade intercepts in three holes (Nov 2024 – Jan 2025).
• Warrant Exercise
• Accelerated warrants issued Oct 29 2024, $0.15 exercise price.
• 456,250 warrants exercised after share price ≥$0.25 for ten consecutive days as of Oct 20 2025.
• Remaining 12,150,000 warrants expire 5 PM Nov 19 2025 if unexercised.
• Ultra Rare Earth Transaction
• Binding term sheet dated Aug 29 2025; closing scheduled Oct 31 2025.
• Ultra to acquire 50 % of Appia Brasil Rare Earths Mineracao Ltda (owner of the PCH Project in Goiás, Brazil).
• Investment: US$2 million via private placement of 5,520,000 units at $0.50 Cdn per unit (based on USD/CAD = 1.38).
• Each unit = 1 common share ($0.50 Cdn) + ½ warrant; full warrant exercisable at $0.70 Cdn for 24 months.
• Proceeds to be used for general working capital.
• Future Resource Update
• Updated Mineral Resource Estimate (MRE) to be prepared after completion of current drilling and auger programs, expected by end of Q1 2026.

Notable Quotes

“We have been eager to get a drill back to the Highgrade mineralized area… This extraordinary mineralization included 92,758 ppm or 9.28 % TREO across 2 meters.” – Tom Drivas, CEO

All technical information reviewed and approved by Don Hains, P.Geo (Qualified Person, NI 43‑101).