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TSX-V symbol: RA

 

Thunder Bay, ON – Rare Earth Metals Inc (“Rare Earth Metals” or the “Company”) (TSX VENTURE:RA) is pleased to announce that as a follow-up to encouraging results from last year’s prospecting program, it has finalized arrangements to conduct a 2000 meter diamond drilling program at its Clay-Howells project in northern Ontario.

The drill contract has been awarded to Landdrill International Ltd. of Moncton, New Brunswick, and diamond drilling equipment is expected to arrive at the Clay-Howells exploration camp located 40 kilometers north of Kapuskasing, Ontario in early February.

The Clay-Howells property consists of 45 patented claims (mining and surface) and 49 unpatented claims (mining) totaling 11,781 hectares, and is underlain by a large circular 10 kilometer diameter Alkalic – Carbonatite Complex which hosts the Clay-Howells magnetite/REE/Nb Prospect and a number of untested magnetic targets. The proposed 2000 meter drill program will be carried out to test the higher priority untested magnetic targets.

These Alkalic – Carbonatite Complexes are very unique and are the host rocks to most of the more significant REE deposits including the Bayon-Obo Mine in China, the largest rare earth producer in the world, and Molycorp’s Mountain Pass Mine in California. This style of mineralization is generally defined by their magnetic signature as is the prospect at Clay-Howells, where the host is a 50 to 100 meter thick massive to banded magnetite unit with significant REE and Niobium mineralization. Intersections from recent drilling in March, 2010 included values up to 0.69% TREO, 0.14% Nb205, 57.8% Fe203/105.3 meters including: 1.088% TREO, 0.14% Nb205 and 65.95% Fe203/ 16.9 meters.The property is accessible by existing forest roads leading north from the mill town of Kapuskasing, where infrastructure including highway, railroad, pipelines and airports are readily available.

Paul Nielsen, PGeo, is aqualified 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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