American Rare Earths announces consolidation of president and CEO Roles

DENVER, March 02, 2026 (GLOBE NEWSWIRE) -- American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ("ARR" or the "Company") is pleased to announce that it has consolidated the roles of President and Chief Executive Officer, with Mr. Mark Wall assuming the combined position effective immediately.

Mr. Wall, who is based in North America, brings extensive mining leadership and project development experience making him ideally placed to lead the Company through its next phase of growth and to focus heavily on project execution.

Commenting on the role consolidation, Mr. Wall said: "The Halleck Creek Project has been my main focus area since joining as CEO. I see massive opportunity to accelerate this project and to be a meaningful contributor to securing the United States' domestic mine-to-magnet supply chain and building US dominance in the rare earths sector. American Rare Earths can position itself as a very long-term domestic producer integrated into the US mine-to-magnet supply chain. As we find ways to accelerate this project, we will need to focus on the great state of Wyoming, which is a truly world-class location to execute a resource project, while at the same time making the necessary preparations towards a US listing."

Mr. Wall continued: "In parallel, we are preparing to conduct a Whole of Property Assessment of the greater American Rare Earths Halleck Creek 2.63 billion tonne resource¹ to understand what the overall development plan may look like, and concurrently we are undertaking a detailed Opportunity Assessment of the La Paz property in Arizona where one of the focus areas will be reviewing other mineral opportunities such as copper and gold in this prolific district. I am also busy building and streamlining the team to move this project forward with speed."

The Board of ARR believes that unifying the President and CEO roles under Mr. Wall's leadership will enhance strategic alignment, sharpen decision-making and support the rapid advancement of Halleck Creek as a key future source of US-based rare earth supply.

This release was authorized by the Board of American Rare Earths.

Investors can follow the Company's progress at www.americanree.com

About American Rare Earths Limited:

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) is a critical minerals company at the forefront of reshaping the U.S. rare earths industry. Through its wholly owned subsidiary, Wyoming Rare (USA) Inc., the company is advancing the Halleck Creek Project in Wyoming-a world-class rare earth deposit with the potential to secure America's critical mineral independence for generations. The Halleck Creek Project boasts a JORC-compliant resource of 2.63 billion tonnes, representing approximately 16% of the greater Halleck Creek project surface area, making it one of the largest rare earth deposits in the United States. Located on Wyoming State land, the Cowboy State Mine within Halleck Creek offers cost-efficient open-pit mining methods and benefits from streamlined permitting processes in this mining-friendly state.

With plans for onsite mineral processing and separation facilities, Halleck Creek is strategically positioned to reduce U.S. reliance on imports-predominantly from China-while meeting the growing demand for rare earth elements essential to defense, advanced technologies, and economic security. As exploration progresses, the project's untapped potential on both State and Federal lands further reinforces its significance as a cornerstone of U.S. supply chain security. In addition to its resource potential, American Rare Earths is committed to environmentally responsible mining practices and continues to collaborate with U.S. Government-supported R&D programs to develop innovative extraction and processing technologies for rare earth elements.

The opportunities ahead for Halleck Creek are transformational, positioning it as a multi-generational resource that aligns with U.S. national priorities for critical mineral independence.

For more information:

Media Contact:

Susan Assadi
[e-mail]
347 977 7125

Investor Relations US Contact:

Beverly Jedynak
[e-mail]
312 943 1123

¹ ASX Announcement 29 January 2025