Rare Earth Metals Provides Update On Its 2011 Exploration Program
TSX-V symbol: RA
Thunder Bay, ON – Rare Earth Metals Inc. (“Rare Earth Metals” or the “Company”) (TSX-V: RA) is pleased to provide an update on the status of its 2011 exploration activities.
Clay Howells: Located in northern Ontario, this property is the focus of a winter drill program. Five of 13 drill holes targeted on a number of high priority magnetic zones have been completed. These targets are located outside of the main Clay-Howells REE/Nb/Fe Deposit and consist of both discrete magnetic highs and magnetic lows associated with circular features within the Clay-Howells Carbonatite Complex. For the most part the Carbonatite Complex is overlain by a consistent 15 to 30 meter cover of clay overburden and drill testing is required to evaluate the geology and mineralization associated with the magnetic zones. Analyses of drill core samples, submitted to Act Labs in Thunder Bay are expected to be available, beginning in late April.
Red Wine: A 5,000 meter drill program is scheduled for this project located in west central Labrador. This drilling should begin in June and the initial focus will be on the Two Tom deposit where a 43-101 compliant resource is anticipated to be completed in late 2011. Drilling will also be completed on other REE targets, especially those showing strong Heavy REO ratios including Dory Pond and Playfair South. Field work including prospecting, geological mapping and geochemistry sampling will be carried out in conjunction with the drilling from a central camp on the Orma Lake Road.
Coldwell: The Company recently staked approximately 650 claim units (146 sq. km.) within the central part of the Coldwell Alkalic Complex located on the north shore of Lake Superior, near Marathon, Ontario. Initial work will include an airborne survey to be completed in the first half of 2011. The property hosts a number of untested REE and Nb showings and this proposed airborne survey will be the first detailed airborne radiometric survey ever flown over this part of the Coldwell Complex. The project represents a tremendous opportunity to generate new rare metal showings and the Company is actively seeking a partner to share the exploration costs.
Hinton: The Company is seeking new business opportunities to divest this coal asset and has entertained a number of interested parties and enquiries over the past six months. This process continues.
Wayne Reid, P.Geo, is a qualified person as defined in National Instrument 43-101, and has reviewed and approved the technical information forming the basis for release.
About Rare Earth Metals Inc.
Rare Earth Metals is a well-funded company with a focus on exploring for Rare Earth Element deposits. The Company’s shares are listed on the TSX-V exchange under the symbol RA and the OTCQX exchange under the symbol RAREF. The Company presently has 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. Its flagship properties are the Clay-Howells Prospect and the Red Wine Project. The Company has recently acquired additional properties in the Coldwell Complex near Marathon, Ontario and the Lavergne-Springer REE Prospect near Sturgeon Falls, Ontario. 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 website at www.rareearthmetals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS INC.:
President and CEO
“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.
President and CEO
Phone: (807) 623-6840
Fax: (807) 623-9526
Phone: (807) 623-6840
Cell: (604) 741-4150
Fax: (807) 623-9526
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