Ionic Rare Earths Limited (IXRRF) December Quarterly Activities Report

The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to provide its Quarterly Activities Report for the period ending 31 December 2023.

This report* includes development activities at the 60% owned Makuutu Heavy Rare Earths Project ("Makuutu" or "the Project") in Uganda, and at the Company's 100% owned magnet recycling subsidiary in the UK, Ionic Technologies International Limited ("Ionic Technologies").

In the December quarter, IonicRE has made substantial advancement in its project development and operational capabilities. As an emergent key player in the global rare earths market, IonicRE has not only solidified its position but also set the stage for significant growth. Significantly, subsequent to the end of the quarter, the Company was awarded a Large-Scale Mining Licence (LML 00334) for the Makuutu Project, and the Company has secured a new Chairman to help bolster and lead the Ionic Board of Directors as the Company moves into the next important growth stage.

The following report* outlines the critical operations, developments, and outlook as the Company moves closer to its goal of becoming an alternative supplier of magnet and heavy rare earths critical for energy transition, advanced manufacturing, and defence.

MAKUUTU HEAVY RARE EARTHS PROJECT (60% IONICRE, MOVING TO 94%)

Makuutu currently ranks amongst the world's largest and most advanced ionic adsorption clay (IAC) deposits, and as such, a globally strategic resource for near term, low capital development, and longterm security of magnet and heavy rare earth oxide (REO) supply.

*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/EY3130G9

For Australian Media 
Nigel Kassulke
Teneo
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Peter Taylor
NWR Communications
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T: +61 (0) 412 036 231

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Tim Blythe
BlytheRay
E: Tim.Blythe@BlytheRay.com
T: + (0) 20 7138 3553

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Lanyon Group
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T: +44 (0) 28 9018 3242

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