Apex Critical Metals moves first drill rig to Rift

Executive Summary

• Apex Critical Metals has mobilized its first drill rig to its 100%-controlled Rift rare earth project in Nebraska, initiating its inaugural Phase I drill program.
• The program targets 850 metres of north-south strike in the southeastern portion of the project to verify and expand upon historical REE mineralization, leveraging a modern 3-D geological model.
• A second drill rig is expected to arrive imminently to ramp up operations, while the company also granted 750,000 RSUs to a director under its equity incentive plan.

Key Details

• Drilling Mobilization: First drill rig has arrived at site and is currently being assembled and commissioned; site preparation (access routes, drill pads, logistical staging) is underway.
• Phase I Scope: Planned to cover 850 metres of north-south strike in the high-priority southeastern portion of the Rift project.
• Technical Targeting: Based on geophysical, geochemical, and historical drilling data integrated into a modern 3-D geological model.
• Program Objective: Verify and expand significant REE mineralization defined by previous operators; advance understanding of REE and associated critical mineral potential within the Elk Creek carbonatite complex.
• Rig Expansion: Second drill rig expected to arrive imminently to ramp up drilling operations.
• Equity Grant: 750,000 RSUs granted to a director on Jan. 23, 2026, under the omnibus equity incentive plan (shareholder approved Feb. 26, 2025).
• Vesting Schedule: 375,000 RSUs vest at 12 months; 375,000 RSUs vest at 24 months. Each vested RSU converts to one common share.
• Hold Period: Shares underlying the RSUs are subject to a 4-month and 1-day hold period from issuance.
• Qualified Person: Nathan Schmidt, PGeo, of Dahrouge Geological Consulting Ltd., reviewed and approved all technical content.
• Historical Context: Rift project hosts extensive REE rights within the Elk Creek carbonatite complex; historical drilling reported intervals including 155.5m of 2.70% REO and 68.2m of 3.32% REO.

Notable Quotes

• "The arrival of our first drill rig at Rift represents a key milestone as we officially embark on a drill campaign that we believe will elevate the awareness of the Rift rare earth project significantly and put the company in a position to accelerate our path towards a maiden mineral resource with additional follow-up drilling later this year." — Sean Charland, CEO