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Australian Bauxite Ltd (ASX:ABX) Rare Earth Elements Update
Australian Bauxite Limited (ASX:ABX) (FRA:A7B) is pleased to report on early results from an exploration project carried out over the last 15 months involving rare earth elements (REE) that occur within the ABx bauxite horizon. Assaying is by the NATA-registered ALS commercial laboratory, Brisbane.

This exploration project was undertaken despite the difficult pandemic year and major results are:

- Clays at Binjour bauxite deposit in QLD were found to contain soluble REE and ABx's exploration technology was used to identify other REE prospects in Eastern Australia

- Two Tasmanian prospects, DL130 and Fingal Rail, were identified and REE assay results for 26 random drillhole samples have shown that DL130 is enriched

- The DL130 prospect returned REE values that averaged six times higher grade than both the Binjour clays and from the Fingal Rail project, indicating a different origin of the REE at DL130

- Enriched zones at DL130 are 4 to 18 metres thick and extend with good continuity over distances exceeding 1 kilometre. Best results at DL130 came from a specific rock unit and mineralisation is relatively enriched in light rare earth elements (LREE) - see Tables 1 & 2*.

- ABx has identified more than 4,500 metres of samples that warrant REE assessment

- The solubility and ease of concentration of ABx's REE mineralisation is being assessed at ABx's bauxite research laboratory in Launceston, and concentrates will be tested at the Alcore Research Centre in Central Coast NSW using Alcore's fluorine chemical technologies

- Early testwork indicates that this type of REE mineralisation leaches in weak mineral acids and the grades were upgraded by 172% on average in a single pass - see Tables 1 & 2*.

- Like all ABx bauxites, deleterious elements, including uranium and thorium, are usually low

ABx Exploration Manager, Paul Glover commented; "ABx's exploration technology was reinvigorated in mid 2020 while pandemic regulations restricted our field work. Within a year, we found REE enrichment in a widespread rock unit at the DL130 Project, and early testwork indications are that the rare earth elements are easily leached and could be concentrated at low cost, with no deleterious elements.

"We have also adjusted the exploration technology to start exploring for zones with enriched scandium grades that may be important for some bauxite customers."

*To view tables and figures, please visit:

Ian Levy
CEO and MD
Australian Bauxite Limited
Telephone: +61-2-9251-7177
Mobile: +61-407-189-122

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