Rare Earth Metals Inc.
TSX VENTURE : RA

Rare Earth Metals Inc.

June 22, 2010 09:00 ET

Rare Earth Metals Inc. Reports Updated Drill Assays of 2.25 % TREO Over 10.1 Meters and 0.49 % NbO5 Over 4.5 Meters from Infill Sampling at Clay-Howells Property in Ontario

THUNDER BAY, ONTARIO--(Marketwire - June 22, 2010) - Rare Earth Metals Inc. ("Rare Earth Metals" or the "Company") (TSX VENTURE:RA) has received assay results from recent infill sampling carried out on sections of diamond drill core from its previously reported winter drilling program on its Clay-Howells property in the Kapuskasing area of Northern Ontario. These results include previously unreported values of 0.49% NbO5 over 4.5 meters from 165.1 meters to 169.6 meters in drill hole CH-05. When coupled with an earlier intersection of 0.33 % NbO5 from 163.6 meters to 165.1 meters, a new composite of 0.45% NbO5 over 6 meters is realized in CH-05 from 163.6 meters to 169.6 meters. Additional infill sampling of drill hole CH-10 also resulted in a new intersection of 2.25% percent total rare earth oxides (TREO) over 10.1 meters from 261.7 meters to 271.8 meters. This infill sampling upgrades the larger zone to 0.72% TREO over 96.5 meters from 180 meters to 276.5 meters. 

Highlights of these results, including the ratio of heavy rare earths to light rare earths are outlined below:

Hole FROM (m) TO (m) DEPTH (m) TREO (%) HREO TREO   Fe2O3(t) (%) Nb2O5 (%)
CH-05   163.6 169.6 6.0 0.35 12 % 12.19 0.45
CH-10   180.0 276.5 96.5 0.72 8 % 37.9 0.10
CH-10 inc 261.7 271.8 10.1 2.25 3 % 48.95 0.04

"This is encouraging news", says Michael Stares, President and CEO of Rare Earth Metals Inc. "We are realizing there is evidence for other controls for mineralization outside of the magnetite rich phases of the intrusive complex. The positive results of the infill sampling of the drill core from the winter drilling program on the Iron –REE –Nb deposit in the eastern sector of the Complex, coupled with the new zones of mineralization delineated in the recent sampling of radiometric anomalies along the northern periphery and central regions of the 110 square kilometre Carbonatite Complex (see press release dated June 15, 2010) has opened up new targets for additional testing on this property."

The Clay-Howells Prospect is located 45 kilometers north of Kapuskasing, Ontario and is hosted in a circular Carbonatite Complex and is analogous with the Bayan Obo Mine in China. The Bayan Obo Mine is currently the world's largest REE producer but also has appreciable Iron and Niobium production.

All sampled drill core was split, with half the core bagged and sent to a prep lab in Thunder Bay. The samples were analyzed at Activation Laboratories utilizing inductively coupled plasma mass spectrometer. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion. Note: All measurements are down-hole lengths and as best as can be discerned these should represent 70% to 90% of the true widths. The Rare Earth Element assays are given as Total Rare Earth Oxides (TREO).

Wayne Reid, 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 presently has three advanced projects in Ontario and Newfoundland and Labrador, all exhibiting multi-element potential (REEs, Niobium, Beryllium and Iron Ore) and proximity to available infrastructure. Its flagship property is the Clay-Howells Prospect. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the Company's profile at www.sedar.com. Investors are invited to visit the Rare Earth Metals web site at www.rareearthmetals.ca.

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

"Michael Stares"
President and CEO

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.

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.

Contact Information

  • Rare Earth Metals Inc.
    Michael Stares
    President and CEO
    (807) 623-6840
    (807) 623-9526 (FAX)
    www.RareEarthMetals.ca