Changes to Secretary, Registered Agent & Office

1 April 2022

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

Changes to Company Secretary, Registered Agent and Office

Rainbow Rare Earths announces that it has appointed Scorpio Secretarial Services Limited as Company Secretary and that its registered agent in Guernsey will change to Invicta Wealth Solutions Limited, both with immediate effect.

The registered office of the Company has also changed with immediate effect to Connaught House, St Julian's Avenue, St. Peter Port, Guernsey, GY1 1GZ.

**ENDS**

For further information, please contact:

Notes to Editors:

Rainbow's strategy is to become a globally significant producer of rare earth metals. Nd/Pr and Dy are vital components of the strongest permanent magnets used for the motors and turbines driving the green technology revolution. Analysts are predicting demand for magnet rare earth oxides will grow substantially over the coming years, driven by increasing adoption of green technology, pushing the overall market for Nd/Pr and Dy into deficit.

The Phalaborwa Rare Earths Project, located in South Africa, comprises an Inferred Mineral Resource Estimate of 38.3Mt at 0.43% TREO contained within gypsum tailings stacked in unconsolidated stacks derived from historic phosphate hard rock mining. High value NdPr oxide represents 29.1% of the total contained rare earth oxides, with economic Dysprosium and Terbium oxide credits enhancing the overall value of the rare earth basket in the stacks.  The rare earths are contained in chemical form in the gypsum stacks, which is expected to allow high-value separated rare earth oxides to be produced with lower operating costs than a typical rare earth mineral project.

The Company's Gakara Project in Burundi has produced one of the highest-grade rare earth concentrates in the world (typically 54% total rare earths oxides ("TREO")) through trial mining operations. The Gakara basket is weighted heavily towards Nd/Pr, which account for approximately 19.5% of the contained TREO and 85% of the value of the concentrate. The Gakara project is currently on care and maintenance at the request of the Government of Burundi.