DENVER, June 18, 2026 (GLOBE NEWSWIRE) -- American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ("ARR" or the "Company") is pleased to provide an update on exploration and drilling activities underway and planned across its U.S. rare earths project portfolio during 2026 and 2027, including Halleck Creek in Wyoming, La Paz in Arizona, Beaver Creek in Wyoming and Searchlight in Nevada.
The current field season is centered on the advancement of the Halleck Creek Project as feasibility-stage work accelerates, while the Company also continues technical reviews and target generation programs at its broader portfolio of exploration assets.
American Rare Earths CEO Mark Wall commented:
"2026 is a pivotal year for American Rare Earths as we advance Halleck Creek through feasibility-stage work while continuing to build the broader exploration pipeline across our U.S. portfolio."
"At Halleck Creek, drilling is now underway to support the Feasibility Study, while the Whole of Property Development Assessment is helping define the longer-term expansion pathway across the broader district."
"At the same time, we are progressing technical and exploration reviews at La Paz, Beaver Creek and Searchlight to ensure we continue developing optionality across a portfolio of rare earth and critical minerals assets in strategic U.S. jurisdictions."
Halleck Creek, Wyoming
The Company is currently drilling at the Cowboy State Mine area within the Halleck Creek Rare Earths Project as part of the commencement of feasibility-stage work to underpin the Feasibility Study.
ARR announced that drilling had commenced on May 13, 2026, with a program of up to approximately 3,050 meters of HQ core across 19 holes on Red Mountain at the Cowboy State Mine1-
To date, five holes have been drilled and core from completed holes is being processed and dispatched for assay, with assay turnaround currently expected to be approximately six weeks due to the busy North American drilling season.
The drilling program is designed to support future ore reserve estimation, test extensions of mineralization at depth and to the west of existing drilling, and generate material for geotechnical, hydrogeological, environmental and metallurgical workstreams associated with the Feasibility Study.
In parallel, the Whole of Property Development Assessment (WPDA) awarded in April 2026 is continuing across the broader Halleck Creek property and is expected to run through the end of 2026.
The WPDA is integrating geological, metallurgical, mining and permitting data across the broader Halleck Creek land package and is intended to establish a strategic development roadmap beyond the initial Cowboy State Mine plan, including Red Mountain, Overton Mountain and Bluegrass.
Beaver Creek, Wyoming
The Beaver Creek Project in Wyoming remains an early-stage exploration asset with highly encouraging rare earth results from limited prior work.
Historic work completed by ARR at Beaver Creek returned strong rare earth grades from surface sampling, including laboratory assay results of 5.8% to 13.9% TREO from grab samples2, with NdPr reported at 1.0% to 2.2% of total ore, while in-situ pXRF readings from large allanite crystals ranged from 7.4% to 23.2% La+Ce+Nd+Pr+Y3-
The project's rare earth mineralization is hosted in allanite-enriched veins, which is the same host mineral as Halleck Creek, while also being located in Wyoming where future development synergies may emerge as the Company advances its broader regional strategy.
During 2026, ARR plans to undertake additional geological mapping and a surface sampling program at Beaver Creek to improve geological understanding and strengthen the project database.
As Halleck Creek advances, Beaver Creek is also being reviewed for its potential role in a future Wyoming rare earth processing strategy, given its location in the same state and its prospective rare earth mineralization.
La Paz, Arizona
At the La Paz Project, a comprehensive property assessment using advanced data review and targeting methods is in progress as ARR evaluates the project's broader multi-commodity potential in addition to its established rare earth resource base.
ARR announced on March 24, 20264 that it had engaged a U.S.-based exploration and geoscience consultancy to undertake a review of historical data and design a targeted follow-up work program focused on gold, silver, copper, manganese and other non-rare earth critical minerals prospectivity across the broader La Paz land package.
This work includes reinterpretation of historical geological mapping, review and re-logging of available drill core and chips, reassessment of geochemical datasets, and review of historic geophysical surveys to identify and rank targets for follow-up work.
The Company notes that the broader La Paz district has a history of precious and base metal activity, including historic copper exploration and mining activity in the northern part of the project area in the late 1800s and early 1900s.
The La Paz review is continuing through 2026, with the potential for focused geological mapping, geochemical sampling and selective geophysical follow-up on priority targets as the Company works to improve its understanding of both the rare earth and broader metals potential of the project.
Searchlight, Nevada
The Searchlight Heavy Rare Earths Project is an early-stage exploration asset in southern Nevada located approximately 30 km east of the Mountain Pass mine, the only operating rare earth mine in the United States.
Historic exploration at Searchlight has returned positive results, including prospect pit and grab sampling reported by prior operators, historic U.S. Atomic Energy Commission sampling reporting results of up to 6.81% REO, and academic follow-up work confirming multi-percent rare earth values in high-grade samples5-
The project is strategically significant due to its heavy rare earth element character and its location in a known U.S. rare earth district, although it remains at an early stage with no current mineral resource, no drilling by ARR and no announced recent field program.
ARR plans to commence an exploration review of Searchlight in the third quarter of 2026 to determine an appropriate forward exploration plan for the property.
That review is expected to assess historical datasets, geological controls on mineralization, and the project's potential role within the Company's broader long-term U.S. rare earths growth strategy.
Outlook
Across 2026 and 2027, ARR intends to continue advancing Halleck Creek as its flagship development project while progressing targeted exploration and technical review work across its broader portfolio to build long-term project optionality in rare earths and associated critical minerals.
At Halleck Creek, near-term activity is focused on completing the current drilling campaign, receiving assay results, progressing feasibility workstreams and continuing the WPDA through 2026, while 2027 planning is expected to be guided by Feasibility Study requirements, development sequencing and results from current technical programs.
At Beaver Creek, La Paz and Searchlight, the Company expects 2026 and 2027 work programs to focus on progressively refining geological understanding, ranking targets and identifying the most effective exploration pathways to unlock additional value across the portfolio.
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. ("WRI"), 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. 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.
For more information:
Nick Lissolo, Vice President, Corporate Development and Strategy
nlissolo@americanree.com
Media Contact:
Susan Assadi
sassadi@americanree.com
347 977 7125
Investor Relations US Contact:
Beverly Jedynak
Beverly.jedynak@viriathus.com
312 943 1123
1 Refer ASX announcement dated 27 May 2026
2 Refer ASX announcement dated 14 September 2023
3 Refer ASX announcement dated 25 July 2023
4 Refer ASX announcement dated 24 March 2026
5 Refer ASX announcement dated 8 June 2021
