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Thunder Bay, ON – Rare Earth Metals Inc. (“Rare Earth Metals”, “RA” or the “Company”) (TSX-V: RA; OTCQX: RAREF, PINK SHEETS: RAREF) is pleased to report preliminary Rare Earth Element/Niobium/Beryllium results from the first drill hole in 2011 on the Two Tom Mineralized Zone at the Red Wine property located approximately 110 kilometers northeast of Churchill Falls in west central Labrador. The results include a best intersection of 2.05% TREO, 0.22% Nb2O3, 0.23% BeO over 96.2 meters within a larger zone of mineralization which assayed 1.52% TREO, 0.17% Nb2O5 and 0.18% BeO over 148.3 meters in drill hole DDH-TT-12. The HREO/TREO ratio from the 148.3 meter intersection is 5.3% and the 96.2 meter composite is 4.6%. DDH TT-12 was drilled 50 meters behind TT-10 which returned results of 1.45% TREO, 0.14% Nb2O5 and 0.14% BeO over 83.25 meters within a larger zone of mineralization which assayed 1.03% TREO, 0.10% Nb2O5 and 0.11% BeO over 168.5 meters. (See previous press release dated Dec 6, 2010.)

As previously reported in a press release dated June 28, 2011, a portion of the 2011 drilling will focus on infill and expansion drill testing of the Two Tom deposit where a resource calculation is anticipated to be completed in late 2011. The northwest striking Two Tom Zone has been traced to date by prospecting, trenching, and drilling for a minimum of 1.3 kilometers and is located at the eastern end of the Red Wine Peralkaline Complex. A total of 11 holes were completed in 2010, and the main section of the Two Tom mineralization has been defined as a lens averaging 75 – 80 meters in thickness and completely open in all directions. A total of 6 diamond drill holes totalling 1972 meters have been completed so far in 2011 on the Two Tom mineralized zone and all holes intersected the REE/Nb/Be zone over substantial widths (drill thicknesses between 50 meters and131 meters). Twelve infill drill holes are scheduled to be completed to test the mineralized zone on 100 meter sections and further expansion drilling is planned to continue testing the mineralization along strike. Results from the drill samples will be released as they are received. A map of the Two Tom drill-hole locations can be found on the company’s website at www.RareEarthMetals.ca. Significant results from the latest drill hole are tabulated below:

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The Company has been carrying out field work on the Red Wine Belt since June, 2010, and the 2011 drilling is being targeted on two mineralized zones – the Two Tom and the Dory Pond. Drill testing of the Dory Pond Zone is now underway, where previous reported prospect samples ranged up to 6.72% TREO (see press release dated Oct 19, 2010) with very significant Heavy Rare Earth content that varied from 2.5% to 64% HREO. Field work including prospecting, geological mapping and geochemical sampling of numerous other targets is being carried out in conjunction with the drilling.

“We are quite pleased with the first drill hole of the 2011 drilling program, said Michael Stares, President of Rare Earth Metals. “Not only does it confirm the continuity of the Two Tom Mineralized Zone, it also demonstrates the potential for higher grade zoning within the prospect. This is the highest grade intersection to date in the drilling. We will continue the infill drilling on the Two Tom prospect to bring forward a resource on the prospect as previously reported by the first quarter of 2012. Also a compilation of the 2010 geochemical sampling data and the 2011 geological mapping data has been completed with numerous targets outlined on the Dory Pond (HREE) Prospect. A drilling program will commence immediately on these targets with results available in three to four weeks.”

Core from the drill program was transported by helicopter from the drill site, logged at Rare Earth Metals’ camp and split in half using a diamond table saw or a manual core splitter. One half of the core was sent to Activation Laboratories Ltd. (“Actlabs”) for analysis and the other half was kept in core boxes at the camp for reference. All samples were delivered by Company personnel to Actlabs’ sample preparation facility in Happy Valley-Goose Bay. The samples were processed and representative pulps sent to Actlabs’ analytical facility in Ancaster, Ontario. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion and the analysis is completed using ICP, ICP/MS and XRF techniques. For QA/QC purposes Rare Earth Metals systematically inserts standards, duplicates and blanks into every sample batch. Actlabs is an ISO 17025 (Lab 266) and NELAP (lab E87979) accredited lab for specific registered tests.

The Rare Earth Element assays are reported as Total Rare Earth Oxides (TREO), the Niobium assays are given as Niobium Oxide (Nb2O5), and the Beryllium assays are given as Beryllium Oxide (BeO). The TREO includes all the Rare Earth Oxides plus Yttrium Oxide. As per industry standard the TREO are broken down into Light Rare Earth Oxides (LREO) and Heavy Rare Earth Oxides (HREO). The LREO consists of Ce2O3, La2O3, Nd2O3, Pr2O3 and Sm2O3 and the HREO consists of Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3 and Y2O3. The %HREO is calculated by dividing the HREO by the TREO. The most abundant REEs from the drill hole composites described above are in decreasing order: Cerium, Lanthanum and Neodymium. A breakdown of the most abundant REE’s from the drill holes can be found on the company’s website at www.RareEarthMetals.ca.

Paul Nielsen, PGeo, 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.:

“Michael Stares”
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.

Michael Stares
President and CEO
Phone: (807) 623-6840
Fax: (807) 623-9526
www.RareEarthMetals.ca

Consultant:
Nick Vermeulen
Phone: (807) 623-6840
Cell: (604) 741-4150
Fax: (807) 623-9526
Email: rareearthmetals%23ca|nick

Standard and Poor’s Customer Contact:
Richard Albanese
(212) 438-3647
Email: standardandpoors%23com|richard_albanese

Standard and Poor’s Media Relations Contact:
Michael Privitera
(212) 438-6679
Email: standardandpoors%23com|michael_privitera

Company information distributed through the Market Access Program is based upon information that Standard & Poor’s considers to be reliable, but neither Standard & Poor’s nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.

 
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