Projects Overview

Rare Earth Energy Metals Pty Ltd’s (“REEM” or “Company”) projects are located in Sweden, one of Europe’s major mining economies. The country has a long mining history and is home to one of Europe’s largest copper producers, with proximity to end markets. Sweden has extensive infrastructure network (roads, rail, ports, air, communications) and hydro and nuclear base load power.
The country ranks in the Top 20 mining jurisdictions globally, with the government being supportive of mining, low taxes (20.6% corporate tax rate) and royalties (0.2%). The government has a stated ambition to be a leader in the Green Industrial Revolution with an acceptance that mining is required to provide critical metals.
In terms of exploration potential, Sweden has massive metal endowment and little to no modern exploration has been undertaken outside of known deposits. REEM’s first class team of explorers and developers have extensive operating experience and recent success in Sweden.
Hennes Bay Project
The Company’s 100% owned Hennes Bay Project, comprising eleven granted exploration permits covering approximately 322km 2 , is located in the Dalsand region of southwest Sweden (Figure 1).
The Project is located in a largely unexplored part of the Grenville Orogeny – mountain building system which gave rise to world class sediment-hosted copper deposits including Kamoa-Kakula and Tenke-Fungurumi (Democratic Republic of Congo) and White Pine (USA) (Figure 2).

Copper mineralisation occurs primarily as chalcopyrite disseminations at the contact between a quarzitic sandstone and overlying shales of the 1.2-1.0Ga Dalgroup formation.
The sedimentary rocks are generally weakly folded, resulting in a gentle dip and undulous geometry of the ore horizon throughout most of the region. Both historic and recent fieldwork have identified the copper mineralised horizon at numerous locations throughout the Project area, confirming the large scale of the system (Figure 3).
Fieldwork and assessment of historic data have shown the copper mineralisation to be of variable thickness, ranging from several meters to locally up to 11.5m. Re-assaying of historic drill core has further highlighted the presence of several critical metals e.g. gallium, germanium, vanadium, and rare earth elements, that were previously not tested for.

The Dalgroup Formation is locally covered by thin sheets of granitic thrusts that often form prominent topographic heights in the region.
Historic drilling through the thrusts and recent REEM fieldwork have demonstrated the copper mineralization continues underneath these granitic nappes, thereby further extending the Project’s scale (Figure 4).


Two prospects within the Project area host historical resource estimates (non-JORC compliant) of 12Mt @ 1.00% Cu, 28g/t Ag (Dingelvik) and 13Mt @ 0.86% Cu, 27g/t Ag (Henneviken). Historical mining (~1900) was also undertaken at Stora Strand, with production totaling 215,000 tonnes @ 1.3% Cu, 25g/t Ag, 0.8g/t Au.
Numerous high-grade, outcropping mineral occurrences have been identified within or proximal to the Project area by REEM geologists during recent field work, providing support to the larger system hypothesis (Figures 3 and 6).

A first pass interpretation of historical airborne geophysical data over the entire Dalsland formation provided substantial insights to the stratigraphy and structural evolution in the region which have been incorporated into the Company’s conceptual geological model and exploration targeting criteria for Hennes Bay. Interpretation of whole rock lithogeochemistry from drill core and outcrops has also been completed to aid in distinguishing key stratigraphic markers, as well as to give a preliminary assessment of future vectoring methodologies.
The Company’s view is that there is significant potential for resource growth and new discoveries, as well as the potential to vector in towards more proximal and higher grade and/or thicker zones of mineralisation within the larger system.
The focus of ongoing work at Hennes Bay will be on resource growth and advancing the project systematically through the various feasibility study stages, commencing with a preliminary economic assessment.
Resource growth will be the product of geophysical surveys and targeted drilling aimed at extending the known historical resource areas and discovering new higher grade and/or thicker zones of mineralisation.
As noted above, REEM has developed a conceptional geological model for Hennes Bay, which includes interpreted controls on the distribution, thickness and grade of mineralisation. This geological modelling, combined with the results of planned geophysical surveys, will generate a suite of priority targets for resource extensions and higher grade and/or thicker zones of mineralisation to be drill tested commencing in 2025.
Swan Lake Project
The Swan Lake Project, comprising two granted exploration permits covering approximately 218km 2 , is located in the Southern Norrbotten region in northern Sweden (Figure 1).
Northern Sweden has a well-established mining industry, with multiple bases and precious metal mines currently operating in the Northern Norrbotten and Skellefte Field ore districts. The Swan Lake project is located between these two historic ore districts, 20km northwest of the emerging industrial town of Boden.
Access to the project is excellent through a network of sealed and well-maintained forest roads. Notably, the ore train connecting the mining operations in Kiruna and Gällivare with all-year port facilities in the coastal city of Luleå runs through the center of the Project area.
The tenements form part of an earn-in agreement (“EIA”) between the Company and Boden Prospectering AB (“Boden”). The Company earns an initial 51% interest in 2023 and has the right to earn up to 80% by spending a total of A$800,000 on the tenements. Pursuant to the EIA, the Company is responsible for sole funding all joint venture activities on the tenements up to completion of a feasibility study.
The Project is located within the Proterozoic Norrbotten volcanic belt surrounded by granitic intrusions that host the giant Aitik and Laver porphyry copper-gold deposits owned by Boliden (Figure 7). The Aitik mine, which has been in operation since 1968, is one of Europe’s largest copper producers.

Recent research has shown that much of the Svecofennian age mineralisation in both ore districts appears to be controlled by deep, crustal-scale deformation zones that dissect large parts of northern Scandinavia. While historic mining and exploration activities to date have centred around the known ore districts, the continuation of these structures outside the known mining areas remains largely unexplored.
On a local scale, the Project is characterised by a large-scale alteration system that has been delineated over tens of square kilometres and contains a historic occurrence of Cu-Au-Ag-Mo mineralisation, as well as high-grade boulders of similar metal assemblage. A dumortierite-quartzite occurrence, previously drilled and trial mined to investigate its potential use as ornamental or gemstone, is now interpreted to represent the upper parts of a porphyry-epithermal system, directly linked to stockwork Cu-Au-Ag-Mo mineralisation (Figure 8). Recent fieldwork has uncovered polyphase quartz sulphide stockwork veining in the area.

Based on the interpretation of geological mapping, rock-chip and soil sampling and ground geophysical surveys completed by the JV partners, the Project area is considered highly prospective for epithermal altered lithocap gold-silver and porphyry copper-gold style mineralisation.
Planned work programs at Swan Lake through until the end of 2025 includes field mapping, extension of soil sampling coverage, drone magnetics, and target prioritisation for electromagnetic (“EM”) and induced polarization (“IP”) geophysical surveys.
These work programs will substantially enhance the exploration database, leading to the generation of initial priority drill targets to be tested in 2026.