Appia Announces Closing of PCH Project Acquisition
Appia Announces Closing of PCH Project
Acquisition
Toronto, Ontario--(Newsfile Corp. - December 11, 2023) -
Appia Rare Earths & Uranium
Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0.F) (FSE: A0I0.MU) (FSE: A0I0.BE) (the
"Company" or "Appia")
is pleased to announce that, further to the press release of December 4,
2023, it has issued the first tranche of 500,000 shares (the "
Shares
") pursuant to the Definitive
Agreement (the "
Definitive Agreement
") with 3S LTDA ("
3S
"), Beko Invest Ltd. ("
Beko
"), Antonio Vitor
Junior ("
Antonio
") and AZ125 Mineracao Ltda, now known as Appia Brasil Rare Earths Mineracao Ltda
(the "
Company
")
to acquire up to a 70% interest in the PCH Project (the "
Transaction
") located in the
Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil (the "
Property
"). The Shares
are subject to a hold period expiring on April 12, 2024. For particulars of the transaction, see the
December 4, 2023 press release [
Click Here
].
Background on the PCH Project
The PCH Project is located within the Tocantins Structural Province in the Brasília Fold Belt, more
specifically, the Arenópolis Magmatic Arc. The PCH Project is 17,551.07 ha in size and located within
the Goiás State of Brazil. It is classified as an alkaline intrusive rock occurrence with highly anomalous
REE and Niobium mineralization. This mineralization is related to alkaline lithologies of the Fazenda
Buriti Plutonic Complex and the hydrothermal and surface alteration products of this complex by
supergene enrichment in a tropical climate. The positive results of the recent geochemical exploration
work carried out to date indicates the potential for REEs and Niobium within lateritic ionic adsorption
clays.
The technical content in this news release was reviewed and approved by Mr. Don Hains, P.Geo,
Consulting Geologist, and a Qualified Person as defined by National Instrument 43-101.
About Appia Rare Earths & Uranium Corp. (Appia)
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The
Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the
Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its
Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to
exploration for 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a
100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five
mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire up to
a 70% interest in the PCH Project which is 17,551.07 ha. in size and located within the Goiás State of
Brazil. (See June 9
th
, 2023 Press Release –
Click Here
)
Appia has 131.5 million common shares outstanding, 139.3 million shares fully diluted.
Cautionary
Note Regarding Forward-Looking Statements: This News Release contains forward-
looking statements which are typically preceded by, followed by or including the words "believes",
"expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking
statements are not a guarantee of future performance as they involve risks, uncertainties and
assumptions. We do not intend and do not assume any obligation to update these forward-looking
statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the
policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email)
Stephen Burega, President: (cell) 647-515-3734 or (email)
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/190422