Appia Reports on the Exercise of 2017 Warrants

Toronto, Ontario--(Newsfile Corp. - April 22, 2021) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") is pleased to announce that of the remaining 5,130,000 warrants exercisable at $0.30 issued pursuant to the private placements that closed on January 20, 2017 and January 30, 2017 (the "2017 Warrants") January 23, 2017 and January 27, 2017), 4,520,000 warrants were exercised for proceeds of $1,356,000.

On March 9, 2021, the Company announced that the expiry date was accelerated from the earlier of January 20 and 30, 2022 to April 8, 2021, as a result of the fact that the Company's common shares closed at a price of at least $0.60 for twenty (20) consecutive trading days as of March 8, 2021. The unexercised 610,000 2017 Warrants expired on April 8, 2021.

The Company is fully funded and committed to completing the largest exploration and diamond drilling program to date during the summer months of 2021. In excess of 5,000 metres is expected to be drilled at Alces Lake this summer.

About Appia

Appia is a Canadian public-listed company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 65,601 hectares (162,104 acres) in Saskatchewan.

The Company also has a 100% interest (subject to a 1% Uranium Production Payment Royalty and a 1% Net Smelter Return Royalty on any precious or base metals payable, provided that the price of uranium is greater than US$130 per pound) in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. The Camp historically produced over 300 million pounds of U₃O₈ and is the only Canadian camp that has had significant rare earth element (yttrium) production. The deposits are largely unconstrained along strike and down dip.

Appia has 97.4 million common shares outstanding, 108.4 million shares fully diluted.

For more information, visit Appia's website at www.appiaenergy.ca

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email) [email protected]

Frederick Kozak, President: (cellular) 403-606-3165 or (email) [email protected]

Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81409