China Rare Earth Export Control

8 April 2025

Citius Resources Plc (to be re-named Harena Resources Plc)

("Harena" or the "Company")

China's Rare Earth Export Controls Highlight Strategic Importance of Harena's Ampasindava Project

Highlights

·    China imposes fresh export controls on rare earth elements including Dy and Tb - critical in the production of NdFeB permanent magnets

·    NdFeB permanent magnets essential for military applications, including fighter jets, guided missiles, radar systems, and advanced weapons platforms

·    Ampasindava hosts a JORC-compliant 698Mt resource with significant concentrations of these critical heavy rare earths

·    Ionic clay resources offer potential lower-cost extraction, versus complex hard-rock processing

·    Non-binding offtake term sheet signed with United Rare Earths Inc., supporting US domestic supply chains for defence and energy markets

·    Company advancing Feasibility Study, Environmental & Social Impact Assessment, and strategic partnerships to support future production

·    Recent export controls reported by Reuters (4 April 2025) reinforce the urgency for independent rare earth supply chains

Harena Resources Plc (LSE: HREE), the rare earths exploration and development company focused on the 75% owned Ampasindava Project in Madagascar, notes China's recent announcement imposing new export controls on rare earth elements ("REEs"), including magnet metals such as Dysprosium (Dy) and Terbium (Tb).

These critical elements, along with Neodymium (Nd), Praseodymium (Pr), are vital for the manufacture of NdFeB (Neodymium-Iron-Boron) permanent magnets, which are essential for defence applications including fighter jets, precision-guided missile systems, military radar, and advanced weapons platforms. They also play a key role in wind turbines, robotics, computing, electric vehicles and renewable energy technologies.

Harena's Ampasindava Project hosts a JORC-compliant large scale 698Mt resource, containing a significant concentration of these high-demand magnet metals. The ionic clay nature of the deposit offers the potential for lower-cost, lower-impact extraction, providing an alternative to China's dominance in processing and refining.

The Company has already signed a non-binding offtake term sheet with United Rare Earths Inc., a US-based group developing a Rare Earths Centre of Excellence in Tennessee, supporting domestic supply chains for defence and energy markets.

China's tightening of export controls underlines the growing urgency for secure, independent supply chains, as highlighted in a recent Reuters report (4 April 2025), which confirmed new restrictions on rare earth exports including Dy and Tb - metals critical to defence and advanced technology sectors:

https://www.reuters.com/world/china-hits-back-us-tariffs-with-rare-earth-export-controls-2025-04-04/

Harena remains focused on advancing its Ampasindava Project through the Feasibility Study and Environmental and Social Impact Assessment, while actively pursuing offtake and strategic partnerships to support future production.

Joe Belladonna, Managing Director of Harena Resources, commented:

"China's move to restrict exports of critical rare earths has made the need for diversified, geopolitically neutral supply chains even more pressing. Ampasindava is well positioned to be part of the solution, offering a large-scale ionic clay rare earth resource of magnet metals essential for global defence, energy, and technology markets. We are focused on progressing development and building meaningful commercial partnerships."

Further updates will be provided as the Company advances its development plans.

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Notes to Editors

Harena Resources is a rare earths exploration and development company that holds a 75% interest in the on the Ampasindava Ionic Clay Rare Earth Project in Madagascar. The project hosts one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals. Harena is committed to low-impact, high-recovery mining, providing a sustainable supply of critical minerals for the global energy transition and military defence industries.

Forward-Looking Statements This announcement contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements.