Altona Rare Earths Plc - Completion of 2021 Drilling

Altona Rare Earths Plc - Completion of 2021 Drilling

PR Newswire

London, November 30

30 November 2021

ALTONA RARE EARTHS PLC
("Altona" or "the Company")

COMPLETION OF 2021 DRILLING PROGRAMME

AT MONTE MUAMBE PROJECT

Altona (AQSE: ANR), a Rare Earths mining company focused on the discovery and development of rare earth mine projects in Africa, is pleased to announce it has successfully completed its 2021 Drilling Programme at its Mozambique Monte Muambe Project, on time and within budget.

The objective of this first phase drilling programme is to provide an initial guide as to the extent of Rare Earth Elements ("REE") deposits across the site. The programme included testing the lateral extension of known REE mineralisation in the crater as well as exploring four new targets where the Company's geologist team identified possible deep carbonatite weathering, ideal for hosting REE deposits.

The programme consisted of the following:

Type of Hole	Number of Holes Drilled	Number of Holes Planned	Total Depth Drilled	Total Depth Planned
Diamond Drilling	5	4	590m	550m
Reverse Circulation	38	35	2,441m	2,450m
TOTALS	43	39	3,131m	3,000m

Monte Muambe is an ancient sub-volcanic carbonatite intrusion with a 4km diameter, held under Prospecting Licence 7573L by Monte Muambe Mining Lda. The project has been previously explored between 2010 and 2012, where significant Rare Earth Element intercepts have shown grades up to 4.1% Total Rare Earths Oxide ("TREO") quite close to the surface.

Altona's geologist team in Mozambique is presently preparing the samples for shipment to an internationally certified test lab for detailed analysis (assay) in early December. The full results are expected in March 2022 and will enable the Company to make informed decisions on how to further develop the project.

Christian Taylor-Wilkinson, Chief Executive of Altona, commented, "Africa is a challenging operational environment. We have assembled a highly experience team, which is now starting to deliver as evidenced by the completed acquisition of the Monte Muambe REE project in June this year and already completing Phase 1 drilling. Whilst we wait for the results, our team will focus on our new Chambe REE prospect in Southern Malawi, where we are currently undertaking initial sampling and analysis, prior to the start of the rainy season, to enable us to commission a Competent Persons Report, which will assist the target identification for Phase 1 drilling in Q1 2022."

-ends-

For further information, please visit www.altonaRE.com or contact

Altona Rare Earths Plc
Christian Taylor-Wilkinson, Chief Executive [phone]
Martin Wood, Non-Executive Chairman [phone]

Alfred Henry Corporate Finance Ltd (AQSE Corporate Adviser )
Jon Isaacs / Nick Michaels [phone]

Optiva Securities (Broker)
Hal Norwood [phone]

Company Information

Altona Rare Earths Plc is a mining exploration company focused on the evaluation, development and extraction of Rare Earth Element (REE) metals in Africa.

Having ownership of both carbonatite and ionic clay deposits allows Altona possible access to both Heavy and Light Rare Earths, one of the few companies in the position to potentially supply all 17 REEs in economic quantities.

It acquired its first rare earths mining asset, the "carbonatite" Monte Muambe Project in Northwest Mozambique, in June 2021 and completed Phase 1 drilling on 26 November 2021.

The Company completed its second acquisition in October 2021 - the "ionic clay" Chambe Rare Earths Project in Southern Malawi, where it will commence Phase 1 exploration drilling by the end of Q1 2022.

The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to Aquis Stock Exchange on 1 February 2019. A copy of its Admission documents dated 4 March 2005 can be accessed on its website, www.altonaRE.com. This website is where items can be inspected under Rule 75 of the Aquis Rules for Issuers.