American Rare Earths Ltd. Advances Exploration and Shares Program at Halleck Creek, Wyoming

American Rare Earths Ltd. (ASX: ARR; OTCQX: ARRNF; ADR: AMRRY) announced that the company has commenced its 2026 exploration drilling program at the Cowboy State Mine (CSM) within the Halleck Creek Rare Earths Project in Wyoming. The program represents the first phase of feasibility‑level drilling for the project, which the company describes as the largest known rare‑earth deposit in the United States on a total rare‑earth‑oxide (TREO) basis.

Program Objectives and Timeline

  • The drilling campaign is designed to supply the geological and geotechnical data required for a Definitive Feasibility Study (DFS).
  • The company intends to conclude the maiden Halleck Creek drilling by mid‑July 2026, as reported by Mining Weekly.

Strategic Context

American Rare Earths, an exploration firm with operations in both the United States and Australia, has positioned the Halleck Creek project as a key driver of its growth strategy. CEO Mark Wall stated that the company is simultaneously reviewing and refining the Pre‑Feasibility Study while proceeding with feasibility‑stage drilling to avoid delays in advancing the project toward production.

Share Issuance and Corporate Actions

On 27 May 2026 the company announced the issuance of 2,887,439 ordinary fully paid shares, which were created through the exercise of unlisted options. The shares were issued without a separate disclosure document, in compliance with Section 708A(5)(e) of the Corporations Act 2001. The company confirmed that it has fulfilled all related reporting and disclosure obligations and that no excluded information applies.

Market Information

  • Exchange: ASX All Markets
  • Currency: AUD
  • Market Capitalisation: AUD 230,820,000
  • Close Price (27 May 2026): AUD 0.385
  • 52‑Week High (14 Oct 2025): AUD 0.845
  • 52‑Week Low (7 Jul 2025): AUD 0.235

American Rare Earths maintains a negative price‑to‑earnings ratio of –37.07, reflecting its status as an exploration‑stage company.

The company’s activities are available for further detail on its website, www.americanrarearths.com.au .