Major Extension of Mineralisation at Depth Confirmed in Initial Drilling at Cummins Range - Additional Information

Cautionary note: The Company stresses that the reported visually estimated percentages in the table above relate specifically to the abundance of rare earths mineralisation logged in the drill core and is not an estimated grade for the interval. In relation to the disclosure of visual results, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for a laboratory analysis. Assay results are required to determine the widths and grade of the visual mineralisation in preliminary geological logging. The Company will update the market when laboratory results become available.

RareX has a Niton XRF on site that has been calibrated to Cummins Range mineralisation. The XRF analyses for 43 elements including Cerium, Lanthanum, Praseodymium, Neodymium, yttrium, Niobium and Phosphorus. The XRF is used as a tool to indicate whether a zone is mineralised, however it is not an accurate indicator of grade. With the XRF results, rock type and visual confirmation of mineralisation, the RareX geologist can assess whether an interval is mineralised.

This announcement has been authorised by the Managing Director of RareX Limited.

For more information, please contact:

Investors: Jeremy Robinson, Managing Director Ph: +61 8 6383 6593

Media: Nicholas Read, Read Corporate Ph: +61 8 9388 1474

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