Ionic Rare Earths Limited is an Australia-based mineral exploration company that is focused on investment in the mining and resource sector. The Company is focused on developing its flagship Makuutu Rare Earths Project (Makuutu) towards production. The Makuutu comprises approximately six licenses covering approximately 298 square kilometers (km2) and is located over 40 kilometers east of the regional center of Jinja and approximately 120 kilometers east of the capital city of Kampala in eastern Uganda. The Company, through Ionic Technologies International Limited, has developed rare earth element (REE) separation and refining technology and applied this to the recovery and separation of individual rare earths from spent permanent magnets. The Company’s exploration license includes EL00257, EL00147 and EL00148. Its wholly owned subsidiary is Goldcap Resources Pty Limited. Its wholly owned subsidiary includes Ionic Technologies International Limited.