Drilling Commences at Apex Critical Metals’ Flagship US Project

The operational phase has begun for Canadian rare earth explorer Apex Critical Metals, with drilling now underway at its Rift project in Nebraska. This marks a pivotal transition for the company, moving its Elk Creek Carbonatite Complex from a conceptual plan into a tangible exploration campaign.

The launch of this drilling program coincides with significant political developments. In early February 2026, a proposal for a $12 billion US strategic reserve for critical minerals was unveiled. Should this initiative materialize, domestically located projects like Rift could see enhanced appeal for both financing and potential strategic partnerships, offering a favorable backdrop for Apex's activities.

Phase I Drill Program Details

The initial phase of work involves approximately 8,000 meters of drilling across 10 to 15 holes. The core objective is to verify compelling historical data from prior campaigns, which had identified intercepts including 155.5 meters grading 2.70% Total Rare Earth Oxides (REO) and 68.2 meters of 3.32% REO.

Key Program Parameters:

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• Drilling Contractor: Boart Longyear
• Program Scale: ~8,000 meters, 10-15 holes
• Project Footprint: ~3,500 acres of private land
• Funding Source: CAD $10 million from a late-2025 private placement
• Mobilization Date: Drilling commenced January 26, 2026

The necessary exploration permit was secured from the Nebraska Department of Water, Energy and Environment on January 5, with the contract for drilling services finalized on January 12.

Expanded Land Package and Corporate Activity

Throughout 2025, Apex systematically expanded its land position at Elk Creek. The holding grew from 2,407 acres in September to roughly 3,500 acres, consolidating a contiguous area for methodical exploration.

In parallel, the company recently issued equity-based compensation. On February 2, 2026, it granted 200,000 incentive stock options to an advisor at an exercise price of CAD $2.75 per share, expiring January 30, 2028. Earlier, on January 23, a director was awarded 750,000 Restricted Share Units, with 50% vesting after twelve months and the remainder after 24 months.

Forward-Looking Milestones

The market now awaits the next crucial data point: assay results from the newly launched drill program. The company anticipates initial laboratory analyses in the first half of 2026. Plans are also in place to deploy a second drill rig to accelerate the testing of the primary 850-meter target zone.