ARR Unifies Leadership for US Rare Earths Independence Mission

DENVER, CO – March 02, 2026 – In a strategic move designed to accelerate its contribution to American critical mineral independence, American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) announced today it has consolidated the roles of President and Chief Executive Officer. Mining industry veteran Mark Wall, who recently joined the company as CEO, will now assume the combined position, effective immediately.

The decision places a single, North America-based leader at the helm, tasked with sharpening the company's focus and accelerating the development of its flagship Halleck Creek project in Wyoming—one of the largest potential sources of rare earth elements in the United States.

A Unified Command for a Critical Mission

The board’s move to unify leadership under Mr. Wall is a clear signal of its intent to expedite project execution. The company stated that the consolidation is expected to enhance strategic alignment and streamline decision-making, crucial steps as it transitions from an exploration-focused entity to a potential large-scale producer integrated into the U.S. defense and technology supply chains.

Mr. Wall’s immediate priority is the advancement of the Halleck Creek Project, a vast deposit positioned to be a cornerstone of America's efforts to reduce its reliance on foreign nations, primarily China, for minerals essential to everything from electric vehicles and wind turbines to advanced defense systems.

“The Halleck Creek Project has been my main focus area since joining as CEO,” Mr. Wall stated. “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.”

The Veteran Executive at the Helm

Mark Wall brings over three decades of global mining experience to the consolidated role, a career marked by senior leadership positions at major firms and a track record of advancing complex projects from study to production. His extensive background in operations, project development, and permitting makes him a strategic fit for American Rare Earths at this pivotal moment.

Before joining ARR, Wall served as President and CEO of Mountain Province Diamonds Inc., where he was recognized for his operational expertise and focus on sustainability. His career also includes a stint as Chief Operating Officer at Nevada Copper Corp., where he managed operations, exploration, and project development. His longest and perhaps most formative tenure was with global giant Barrick Gold Corporation, where he served as Senior Vice President & Operations Officer. At Barrick, he was responsible for coordinating a global operational portfolio and was the company's lead on a significant joint venture with Shandong Gold in Argentina, providing him with direct experience in complex international partnerships and large-scale mine management.

This deep operational and executive experience is seen as critical for navigating the multifaceted challenges of developing a project of Halleck Creek’s scale, which involves advanced technical studies, complex permitting pathways, and significant capital investment.

Halleck Creek: Cornerstone of US Rare Earth Ambitions

The Halleck Creek Project is the company's crown jewel. Located on state land in mining-friendly Wyoming, the project boasts a JORC-compliant resource of 2.63 billion tonnes. This massive figure, representing only a fraction of the total project area, solidifies its status as one of the most significant rare earth deposits in North America. The deposit's geology is amenable to cost-efficient open-pit mining methods, and its location on state land is anticipated to streamline permitting processes.

American Rare Earths is currently advancing a pre-feasibility study (PFS) for the project and is planning a demonstration plant to validate its processing flowsheet at scale. The company has already reported breakthroughs in its impurity-removal test work, successfully producing mixed rare earth oxide from Halleck Creek ore with strong recovery metrics. This technical progress is a crucial de-risking step, demonstrating the potential viability of transforming the raw resource into high-value materials.

Further bolstering its development, the company has partnered with the University of Wyoming to explore potential byproducts, adding another layer of economic potential to the future operation.

Broader Horizons and a Path to Wall Street

While Halleck Creek is the primary focus, Wall’s expanded mandate also includes overseeing a broader strategic assessment of the company's assets. This includes a 'Whole of Property Assessment' of the entire Halleck Creek resource to conceptualize its ultimate development scale. In parallel, the company is undertaking an 'Opportunity Assessment' of its La Paz property in Arizona, a prolific mining district where it will explore the potential for other valuable minerals such as copper and gold.

This dual focus on accelerating its flagship asset while exploring diversification underscores a mature and ambitious growth strategy. A key part of this strategy is preparing for a potential U.S. stock market listing. The move would align the company's capital markets footprint with its U.S.-based assets, broaden its investor base, and provide greater access to capital needed for project development.

Consolidating leadership under a U.S.-based executive with deep North American operational and capital markets experience is a foundational step in this process. As Mr. Wall noted, the company is making “the necessary preparations towards a US listing.” This move, combined with the aggressive push at Halleck Creek, positions American Rare Earths not just as an explorer, but as a determined force in the strategic race to build a secure and independent American critical minerals supply chain.