Update on Appia Rare Earths and Uranium Trading Activity

Toronto, Ontario--(Newsfile Corp. - October 2, 2023) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (the "Company" or "Appia") would like to clarify for the market that the Company is unaware of any information relating to the Company that would account for the significant volume of trading and drop in the price of the Company's shares that occurred on September 29, 2023.

Appia continues to focus its exploration activities both in Canada and Brazil, and will continue to deliver updates and results on a timely basis.

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 Ionic Adsorption Clay Project which is 17,551.07 ha. in size and located within the Goiás State of Brazil. (See June 9th, 2023 Press Release - Click Here^[1])

Appia has 130.5 million common shares outstanding, 143.3 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 more information, visit www.appiareu.com^[2]

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter^[3], Facebook^[4], LinkedIn^[5]) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here^[6].

For further information, please contact:

Tom Drivas, CEO and Director: 416-546-2707, (fax) 416-218-9772 or (email) tdrivas@appiareu.com^[7]

Stephen Burega, President: (cell) 647-515-3734 or (email) sburega@appiareu.com^[8]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182608^[9]

References

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2. ^{^} www.appiareu.com (api.newsfilecorp.com)
3. ^{^} Twitter (api.newsfilecorp.com)
4. ^{^} Facebook (api.newsfilecorp.com)
5. ^{^} LinkedIn (api.newsfilecorp.com)
6. ^{^} click here (www.newsfilecorp.com)
7. ^{^} tdrivas@appiareu.com (www.newsfilecorp.com)
8. ^{^} sburega@appiareu.com (www.newsfilecorp.com)
9. ^{^} https://www.newsfilecorp.com/release/182608 (api.newsfilecorp.com)