American Rare Earths Limited recently released encouraging results from a channel sampling program conducted at its Cowboy State Mine in Wyoming, an integral part of the Halleck Creek Rare Earths Project. Geologists collected 106 one‐meter channel samples across the Red Mountain area, and assay data revealed standout results, including a maximum Total Rare Earth Oxide (TREO) grade of 13,651 ppm (1.37%). Notably, 15 samples registered TREO grades above 4,500 ppm, highlighting pockets of elevated mineralization that are being incorporated into an updated resource model. The assay findings indicate that the Red Mountain Pluton, the core rock unit responsible for rare earth enrichment, averaged TREO grades of 3,661 ppm. Of the total rare earth composition, magnet rare earth oxides (MREO) – which include high‐value elements such as neodymium, praseodymium, dysprosium, and terbium – averaged 1,023 ppm (approximately 28% of TREO), while heavy rare earth oxides (HREO) averaged 464 ppm (around 13% of TREO). These technical indicators provide a solid foundation for advancing the project through its pre-feasibility study, scheduled to be completed in late 2025. The presence of the core four magnet rare earths, crucial for high-temperature magnet performance and facing limited supply outside of China, underscores the strategic importance of the project. The ability to secure these elements on Wyoming state lands offers a streamlined path to development without the need for federal permitting reform—a significant advantage amid global supply constraints. This, combined with the project’s potential to contribute over 25 percent of revenues from these vital elements, positions the enterprise as a key player in the effort to reduce U.S. reliance on imported rare earths. The sampling program employed industry-standard techniques, with samples collected at 200-meter intervals, precisely located using GPS, and processed with rigorous quality control measures. These data are central to refining the geological model, optimizing pit designs, and planning future development drilling, ensuring that both the technical and economic aspects of the project remain robust as it moves toward production. There is a bullish sentiment surrounding American Rare Earths Limited, driven by strong average grades, a significant presence of sought-after magnet rare earths, and a clear regulatory pathway on state lands. These factors could support confident moves by investors seeking exposure to domestic critical minerals. However, some bearish views persist, as the project is still in advanced exploration and pre-feasibility stages, and future drilling results will be essential to fully validate the resource potential. Overall, the news marks an important step in advancing one of the few U.S. projects capable of delivering critical rare earth elements at scale.