17 March 2023

ALTONA RARE EARTHS PLC

(“Altona” or “the Company”)

Update on Admission

Altona Rare Earths Plc (AQSE: ANR.PL), a mining exploration company focused on the development of a significant Rare Earth Elements mining project in Africa, today provides an update further to the announcement of 10 March 2023 where the Company stated it expected admission to trading on the London Stock Exchange (“Admission”) would take place at 8.00 a.m. on Monday 20 March 2023.  The Company is still working with its advisers to finalise its prospectus for approval by the Financial Conduct Authority (“FCA”) and therefore Admission will not take place on the expected date.  A further update will be provided once the date of Admission, currently expected to be towards the end of March 2023, is confirmed.

The Company also confirms that, as a first step in the transition process to the London Stock Exchange, its shares will cease trading on the AQSE Growth Market (“AQSE”) at 4.30 p.m. on Friday 17 March.

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For more information please contact:

Altona Rare Earths Plc

Christian Taylor-Wilkinson, Chief Executive                                      +44 (0) 7795 168 157

Martin Wood, Non-Executive Chairman                                             +44 (0) 7880 787 080

Alfred Henry Corporate Finance (AQSE Corporate Adviser)         +44 (0) 20 3772 0021

Nick Michaels                                                                                     

Optiva Securities (Broker)                                                                +44 (0) 20 3411 1882

Daniel Ingram                                                                                    

Novum Securities Ltd (Financial Adviser)                                       +44 (0)20 7399 9400

David Coffman/ Dan Harris/ George Duxberry                                 

Yellow Jersey PR (Financial PR)                                                      +44 (0) 333 003 0046

Sarah Hollins

Annabelle Wills

Jazmine Clemens

About Altona Rare Earths Plc

Altona is a mining exploration company focused on evaluating, developing and extracting Rare Earths in Africa.

Rare Earths are a group of 17 chemical elements, many of which are critical to the world’s on-going transition to carbon-based to renewable energies, and to the defence and communication industries.

The Company currently focuses on the development of its flagship Magnet Rare Earths Monte Muambe, located in NW Mozambique. The project’s acquisition was made in June 2021, and the Company has so far drilled over 7,000m to support its maiden JORC Mineral Resource Statement to be published in Q2 2023.

Altona continues to take advantage of its position in Africa to assess other possible Rare Earths opportunities on the continent.

For more information visit: www.altonaRE.com