RARE EARTH METALS CORP.
TSX VENTURE : REM

RARE EARTH METALS CORP.

April 03, 2006 17:19 ET

Rare Earth Metals Corp. Announces 2,000,000 Unit Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2006) - Rare Earth Metals Corp (TSX VENTURE:REM) (the "Company") proposes, on a non-brokered basis, to raise up to $370,000 by the issuance of 1,000,000 units at a price of $0.17 per unit (the "17c Unit") and 1,000,000 units at a price of $0.20 per unit (the "20c Unit").

Each 17c Unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder thereof to purchase one common share of the Company at a price of $0.25 for a period of one year from closing.

Each 20c Unit will consist of one flow through common share and one non-flow through share purchase warrant, with each warrant entitling the holder thereof to purchase one common share of the Company at a price of $0.28 for a period of one year from closing.

Finder's fees of up to 8% in cash or shares, or a combination of both, may be paid in conjunction with this placement and in accordance with the TSX Venture Exchange policies.

Proceeds from this financing will be used for exploration activities on the Company's Manitoba VMS (copper zinc) properties in the Flin Flon-Snow Lake VMS belt. This financing is subject to regulatory approval.

On Behalf of the Board of Directors,

Rare Earth Metals Corp.

Richard Mark, CEO


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.

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