Ionic Rare Earths Limited (IXRRF) Makuutu Land Access Verification Completed

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to provide a further update on progress in securing land access agreements and the verification process for the Mining Licence Application (MLA) for the Stage One development of the Makuutu Rare Earths Project ("Makuutu") over Retention Licence (RL) 1693 (application TN03834), through local Ugandan operating entity Rwenzori Rare Metals Limited ("RRM").

The Ugandan government approved RRM's proposed process to secure land access agreements on 15th September 2023. Land access agreements have now been secured for 95% of the MLA.

As noted in earlier announcements, the Makuutu Heavy Rare Earths Project has the Government's full support and is set to become Uganda's flagship mine (refer also to IXR ASX release on the 11th of September 2023 for more detail).

Last week, RRM hosted a delegation from the Directorate of Geological Survey and Mines (DGSM) to conduct physical verification and stakeholder engagement activities. The Delegation undertook a three-day process on behalf of the Permanent Secretary of the Ministry of Energy and Mineral Development (MEMD) to verify the process undertaken and results achieved by RRM in securing Land Access agreements as part of the Mining Licence application process.

Key observations of the visit by the DGSM conveyed to the Company indicated that across the three districts, local stakeholders confirmed satisfaction with project engagement and emphasised that RRM should be granted a mining licence.

On conclusion, the DGSM lead confirmed that an excellent land acquisition and community engagement process had been undertaken. The DGSM also noted that RRM has a social licence to operate in the project area based on the goodwill noted over the three days and the continued support for the Project by the community.

The company is now engaging with the DGSM and MEMD on the formal award, and the gazetting of the formal award of the Stage 1 mining licence over TN03834.

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