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USA Earth, TMRC's joint venture partner in the Round Top project, today published a press release noting that the Round Top Project is expected to produce nearly half of the new U.S. government critical minerals list. It is also worth noting that critical minerals prices have roughly doubled since the Round Top project preliminary economic assessment was published in 2019. As a result, it is reasonable to assume that the economic return assumptions contained in the preliminary economic assessment may be materially understated given current commodity pricing.

A link to todays press release may be found here: https://www.globenewswire.com/news-release/2021/12/10/2350069/0/en/USA-Rare-Earth-to-Produce-Nearly-Half-of-New-U-S-Government-Critical-Minerals-List.html