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Highlights Mineral Processing optimization tests underway Multiple parallel avenues of testing in progress with the objective of increasing overall magnet rare earths recoveries Long lead time equipment ordered for a demonstration plant Conventional magnetic separation equipment ordered, a critical component of a demonstration plant Test mining set to commence Test mining at the Cowboy State Mine to provide bulk samples for optimization test work and feedstock for a demonstration plant DENVER, July 18, 2025 (GLOBE NEWSWIRE) -- American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”), is pleased to provide an update on project activities at Cowboy State Mine (“CSM”), part of the Halleck Creek Rare Earths Project in Wyoming. American Rare Earths, through its subsidiary Wyoming Rare (USA) Inc. (“WRI”), will be performing a series of additional mineral processing optimization tests for the Cowboy State Mine's Pre-Feasibility Study (“PFS”).