RAREX LIMITED — Board/Management Information 2021

Jun 14, 2021

ASX Release

15 June 2021

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RareX Strengthens its Executive Team with Key Appointments

Key Points:

• Experienced mining executive James Durrant appointed as GM – Projects to oversee Cummins Range studies

• Experienced exploration geologist Kristian Hendricksen appointed as Exploration Manager of new exploration spin-off Cosmos Exploration

• Exploration drilling scheduled to commence at Cummins Range next week

• Work proceeding on Mineral Resource update and preparations for Scoping Study

RareX Limited (ASX: REE; “RareX”) is pleased to announce the following senior executive appointments as it prepares to advance its flagship Cummins Range Rare Earths Project, Western Australia, to the next stage and progresses the planned spin-off of its nickel-copper-PGE and gold exploration assets.

The Company has appointed experienced mining executive James Durrant as General Manager Projects with responsibility for driving the Cummins Range Critical Minerals Project through to development. James will formally join Rare X in August.

James is a qualified mechanical and mining engineer who graduated from the Camborne School of Mines. He has most recently been the Director of Projects for Canyon Resources Limited, where he oversaw the delivery of scoping and pre-feasibility studies, the environmental and social impact assessment and the development of the feasibility and bankable feasibility studies. James led Canyon’s technical services team through resource, reserve and hydro drilling programmes and was also instrumental in preparing the company for the mining licence application on the Minim Martap Project in Cameroon.

Prior to that, James worked for Danakali Limited and BHP Billiton in various project, operational and corporate roles.

RareX’s new exploration spin-off, Cosmos Exploration Limited (see ASX announcement, 23 April 2021), has appointed Kristian Hendricksen as Exploration Manager with responsibility for driving exploration at the Company’s Byro East nickel-copper-PGE project in WA and Orange East gold project in NSW.

Kristian is a qualified geologist who graduated from James Cook University in Townsville.

Most recently, Kristian held the role of Senior Geologist at Encounter Resources, having been involved with much of the exploration and project generation work undertaken by that company in the Paterson Province. Prior to that, he worked at Xstrata Nickel and Murchison Metals Limited.

RareX Limited

Unit 6, 94 Rokeby Road, Subiaco WA 6008 Ph: 08 6383 6593 ACN: 105 578 756

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RareX Managing Director, Jeremy Robinson, said: “ We are really pleased to have secured these two highcalibre individuals to join our senior executive team at a pivotal time in RareX’s development. The experience, skills and capabilities that both James and Kristian bring will be invaluable as we embark on what is set to be a really busy and exciting time for RareX in the second half of 2021.

“We have plenty of imminent news-flow, with a rig scheduled to be on site at Cummins Range next week to execute the exploration program outlined to the market on 6 April.

“Plus, we are in the final stages of calculating the updated Mineral Resource, we have preparations well underway for scoping studies and we have discussions continuing with off-take and strategic partners. I’m looking forward to updating the market on all of these developments in the coming weeks.”

This announcement has been authorized by the Board of RareX Limited.

For further information, please contact:

Jeremy Robinson Managing Director Ph: +61 8 6383 6593

RareX Limited Unit 6, 94 Rokeby Road, Subiaco WA 6008 Ph: 08 6383 6593 ACN: 105 578 756