RARE EARTH METALS CORP.
TSX VENTURE : REM

RARE EARTH METALS CORP.
VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

January 18, 2007 09:30 ET

Retransmission: Rare Earth Metals Corp. Announces Change of Name to VMS Ventures Inc.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Rare Earth Metals Corp. (TSX VENTURE:REM) is pleased to announce that at 6:30 a.m., Pacific Coast Time, on Thursday, January, 18, 2007, Rare Earth Metals Corp. will begin trading on the TSX Venture Exchange as VMS Ventures Inc. (the Company) with the new trading symbol VMS. The new CUSIP Number is 91828R109 and the new ISIN number is CA91828R1091. The share capital of the Company is unchanged.

Over the past two years the Company has carefully assembled a portfolio of base metal properties in the prolific Snow Lake portion of the Flin Flon-Snow Lake Greenstone Belt in mining-friendly Manitoba. This belt is renowned for its volcanogenic massive sulphide (VMS) deposits. It has hosted more than 20 deposits which produced over $29 billion worth of ore. The average deposit is approximately 5 million tonnes in size and has a gross metal value of approximately $1 billion.

VMS Ventures Inc. is now the second largest landholder in the Belt and intends to carry out an aggressive exploration program using VTEM airborne technology and sophisticated geochemistry methodologies to generate specific drill targets on a schedule planned to begin this spring. The infrastructure provided by HudBay Mineral's (TSX:HBM) operations in nearby Snow Lake provides an economic advantage for discoveries in the region.

Dr. George Gale, VP of Exploration, states, "VMS deposits are a common source of copper, zinc, gold and silver in Canada. The origin and nature of VMS deposits are quite well understood. These deposits commonly form on the bottom of oceans and tend to occur as clusters of deposits with small (20m to 40 km diameter) basins and form throughout geologic time and range in age from about 3 billion years to those that are still forming on the bottom of oceans today. When the ancient basins are folded during mountain building processes, sections of the old ocean floor and their deposits end up in vertically dipping rocks. The favourable rock units can be very narrow and traced for kms along strike and are referred to as a Time-Space-Horizon (TSH)."

VMS Ventures Inc. has identified properties overlying these TSH structures and constructed its land package accordingly by optioning properties and staking blocks of claims and mineral exploration licenses. To date the Company has over 70 claims covering over 100 square kilometers and has recently added four substantial Exploration Licenses, all in the Snow Lake region.

The company's new website is www.vmsventures.com and it provides greater detail on the search for Manitoba's next VMS deposit. VMS Ventures Inc. also retains its "historic" REM projects, all in Manitoba: South Bay (Nickel), Lynn Gabbros (Nickel) and Eden Lake (REE-Uranium).

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, CEO and Chair, VMS Ventures Inc.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • VMS Ventures Inc.
    Rick Mark
    CEO and Chair
    (604) 986-2020 or Toll Free: 1-866-816-0118
    Website: www.vmsventures.com