Ausmon Resources Limited announced that it has received written confirmations from the Department of Energy and Mining of South Australia of the grant of 3 new exploration licences EL 6795, EL 6796 and EL 6797 respectively to the Company's applications ELA 2021/00082 Parrakie, ELA 2021/00136 Mt Rough and ELA 2021/00137 Kingston, each for 6 years to 4 July 2028. The 3 licences cover a total of 2,562 square kilometers located south east of Adelaide on the Limestone Coast in South Australia (Figure 1) within the Loxton Sands or equivalent of the Murray and Otway Basins. The Company plans to explore for Rare Earth Elements ("REE") contained within the fine clay fraction of Tertiary (65 to 2.5 Million Years Ago) Strandlines ("ionic clay style of deposit) reportedly existing in the region.

Australian Rare Earth has a large area in the region and 2 weeks ago announced a 104% increase in its JORC inferred mineral resource to 81.4 MT at 785 ppm TREO (Total Rare Earth Oxides) at their Koppamurra project prospective for ionic clay REE deposit. REE have been designated critical minerals by Australia, EU, USGS and IEA and are used in rare earth permanent magnets for electric vehicles (EV), wind turbines and various electronic devices. The Company has developed an exploration strategy for selected sites within the 3 tenements to be visited to collect where available, bulk samples to identify any clay fraction that can be sieved.

In addition, during the roadside traverses, sites would be selected for later verge Aircore drill traverses. In addition to the near surface evaluation of the REE ionic clay potential, a further evaluation of the deeper bedrock potential for gold and base metal mineralisation sites will be carried out based on a lithostructural interpretation of available geophysical data sets.