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Vancouver, BC – Rare Earth Metals Inc. (“Rare Earth Metals”, “RA” or the “Company”) (TSX-V: RA) is pleased to announce that it has received approval from the TSX-Venture Exchange (the “TSX-V”) for its non-brokered private placement previously announced September 7, 2012 (the “Private Placement”). The Company has issued 54,000,000 units at a price of $0.05 per unit for gross proceeds of $2.7 million. Each unit under the Private Placement consists of one common share and one half of one common share purchase warrant (the “Unit”). Each full common share purchase warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.10 for a period of 24 months following the closing of the Private Placement. The Units are subject to a 4 month hold period. 18,000,000 Units and the associated $900,000 private placement funds are being held in trust pending completion of TSX-V requirements resulting from the holder becoming an insider of the Company.

Canadian Horizon Capital Corp. received a cash finder’s fee of $258,950, representing 10% of the gross proceeds raised from non-related parties in the Private Placement.

The proceeds of the private placements will be used by the Company to investigate opportunities within the rare earth business sector, to assess currently held and potential additional properties and for general corporate purposes

About Rare Earth Metals Inc.

The Company’s shares are listed on the TSX-V exchange under the symbol RA.

Rare Earth Metals has recently entered into a strategic advisory agreement with CEC Rare Earth Corp.(“REC”) to assist the Company in developing a vertically integrated business within the global rare earth industry. The relationship with REC will provide the Company with access to REC’s experienced personnel as well as its business model which includes the full spectrum of the rare earth industry including the designing, building and establishment of operations for rare earth refineries outside of China as well as the ongoing sales and marketing of refined rare earths. In addition to its relationship to REC the Company presently has several rare earth properties including two advanced projects in Ontario and Newfoundland and Labrador, both exhibiting multi element potential (REEs, Niobium, Beryllium, Zirconium and Iron Ore) and proximity to available infrastructure. Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under the Company’s profile at www.sedar.com. For more information, please visit the Rare Earth Metals web site at www.rareearthmetals.ca.

ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS INC.:

“Tracy A. Moore”
CEO & President

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”

This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements

For more information on the Company, Investors should review the Company’s filings that are available at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Rare Earth Metals Inc.

Tracy A. Moore
CEO & President
Phone: (604) 685-5535
Email: rareearthmetals%23ca|moore
www.RareEarthMetals.ca

Michael Stares
Director
Phone: (807) 623-6840

Corporate Communications:
Matt Witiluk, C.A.
Phone: (807) 623-6840
Fax: (807) 623-9526
Email: rareearthmetals%23ca|matt

Not for dissemination in the United States of America.

 
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