Successful Placement to Advance Rare Earth & ALCORE Projects

ABx has received firm commitments to raise $6,050,000 (before costs) via a heavily oversubscribed placement to sophisticated and professional investors.

The placement funds will be principally applied to:

• Advancing the Deep Leads rare earths project, including:

• Engineering studies, with supporting metallurgical studies;

• Exploration drilling in new tenements to increase the resource; and

• Secure offtake agreements with customers.

• Constructing and commissioning the ALCORE pilot plant for producing hydrogen fluoride from an aluminium smelter by-product.

The issue price is $0.081 per share, representing a 17.3% discount to the last traded price, a 25% discount to the 15-day VWAP, and a 11.2% discount to the 30-day VWAP. Subject to shareholder approval, each participant will receive one attaching option for every two shares allocated.