Australian Rare EARTHS Discovers Uranium at Overland Project

AR3 Expands Overland Uranium Project with Strategic $10,000 Acquisition

Australian Rare Earths Limited (ASX: AR3) has strategically expanded its Overland Uranium Project through the acquisition of exploration licence EL6895, adding 972km² of uranium-prospective ground with compelling near-surface targets for just $10,000.

Significant Surface Uranium Potential Uncovered in Historic Data

AR3's systematic review of historical drilling data from 1981 has revealed a significant uranium opportunity that has remained untested for over 40 years. Three historic drill holes spanning approximately 7km show notable gamma anomalism from surface down to 30 meters depth, indicating potential for widespread calcrete-hosted uranium mineralisation.

The newly acquired area sits just ~50km south of AR3's recent near-surface calcrete uranium discovery at Overland, presenting similar characteristics to the commercially productive surficial uranium deposits mined in Namibia, such as Paladin Energy's Langer Heinrich Mine.

"We identified an attractive opportunity to expand our Overland Uranium Project, through the acquisition of EL6895, with a substantial new target uncovered through our systematic review of historical drilling data dating back to 1981. The significant gamma anomalism recorded from surface, never followed up with drilling by other companies in this frontier uranium play, provides a compelling opportunity for AR3," said Managing Director and CEO Travis Beinke.

Immediate Follow-Up Drilling Planned

AR3 plans to capitalise on this opportunity quickly by incorporating these newly identified targets into its drilling program scheduled to resume in late July 2025. This drilling will test both:

• The new near-surface calcrete hosted uranium targets at EL6895
• Previously planned deeper ISR-amenable roll front targets in EL7001

This strategic acquisition expands Australian Rare EARTHS Ltd Overland Uranium Project footprint to approximately 7,700km² of prospective ground in South Australia's Murray Basin.

Understanding Calcrete-Hosted Uranium Deposits

Calcrete-hosted uranium deposits form in semi-arid environments where uranium-rich groundwater moves through calcium carbonate-rich soil layers (calcrete). As the groundwater evaporates, uranium minerals precipitate and become concentrated within these calcrete layers.

These deposits are particularly attractive to investors because they:

1. Typically occur near the surface, reducing mining costs
2. Can be processed using lower-cost extraction methods
3. Often present as extensive flat-lying bodies that can support long-life mining operations

Namibia's Langer Heinrich mine, which recently achieved commercial production, demonstrates the economic viability of this deposit type.

Geological Context and Exploration Potential

The gamma anomalism discovered in the historic CRA drillholes occurs within the carbonate sediments of the Bungunnia limestone and underlying calcareous Murray Group sediments. These are located in a sub-basin setting of the Murray Basin, which also hosts existing surficial gypsum deposits—further evidence of the mineral-forming potential of the environment.

This geological setting strongly supports AR3's model for calcrete-hosted uranium mineralisation, mirroring what was found at the company's recent near-surface uranium discovery further north at the Australian Rare EARTHS Ltd Overland Uranium Project.

The three historic drillholes span approximately 7km, indicating the potential scale of the uranium mineralisation target. Remarkably, despite the promising results recorded in 1981, no follow-up exploration has been conducted in the intervening decades.

AR3's Exploration Timeline and Next Steps

AR3 has outlined a clear path forward:

The company has already lodged an exploration Environment Protection and Rehabilitation (EPEPR) application with the Department for Energy and Mining for EL6895, while EPEPRs for its other exploration licences (EL7001, 7003, 7005 and 6678) are already approved.

Why Investors Should Follow AR3

Australian Rare Earths presents a compelling investment case in the critical minerals sector:

1. Strategic Positioning: AR3 has established a dominant position in a frontier uranium play with its ~7,700km² Australian Rare EARTHS Ltd Overland Uranium Project in South Australia.

2. Multiple Value Drivers: The company offers exposure to both uranium and rare earth elements, two critical minerals essential for the clean energy transition.

3. Government Support: AR3's Koppamurra Rare Earths Project has secured a $5 million government grant to accelerate development.

4. Strategic Partnership: Support from global advanced industrial materials manufacturer Neo Performance Materials strengthens AR3's position in diversifying global rare earth supply chains.

5. Low-Cost Acquisition Strategy: The company has demonstrated its ability to identify and acquire strategic assets cost-effectively, as evidenced by the $10,000 acquisition of EL6895 with its significant uranium anomalies.

The discovery of near-surface uranium potential across multiple projects, combined with the company's systematic approach to exploration and strategic acquisitions, positions AR3 as a significant player in addressing the growing global demand for critical minerals essential to the clean energy transition.

The Australian Rare EARTHS Ltd Overland Uranium Project now encompasses approximately 7,700km² of prospective ground, providing investors with exposure to one of Australia's most promising emerging uranium plays.

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