• Successful production of Mixed Rare Earths Oxide from Halleck Creek ore
• Mineral Resource Estimate updated for Cowboy State Mine area
• Beneficiation optimisation and processing flowsheet development ongoing

American Rare Earths Ltd (ASX: ARR) provided an update on its activities for the quarter ended 31 December 2025. The company successfully produced Mixed Rare Earths Oxide (MREO) from Halleck Creek ore using its updated mineral processing flowsheet, representing a key technical milestone. An updated Mineral Resource Estimate was also completed for the Cowboy State Mine area, providing an updated geological foundation for ongoing technical studies. Beneficiation optimisation activities progressed during the quarter, alongside the release of an updated mineral processing flowsheet. The company also announced the appointment of Mark Wall as Chief Executive Officer, bringing over 30 years of global mining experience. ARR enters 2026 from a position of strength, with technical breakthroughs, resource upgrade, permitting progress and leadership aligned to deliver American's next rare earths mine, supported by a strengthening U.S. policy environment for critical minerals supply chains.

During the March 2026 quarter, American Rare Earths will continue advancing the Halleck Creek Rare Earths Project through a series of technical, permitting, and corporate initiatives, including progressing the prefeasibility study, planning for a demonstration plant, continuing environmental baseline studies and development drilling.

ARR remains focused on positioning the Halleck Creek project as a secure, sustainable supplier of rare earth elements for North America's critical minerals supply chain, at a time when U.S. policy settings continue to emphasise domestic processing capacity and supply security.