Rare Earth Metals Inc. Outlines a Number of Heavy Rare Earth Targets on Its Dory Pond Area, Red Wine Property

THUNDER BAY, ONTARIO--(Marketwire - Nov. 8, 2011) - Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(PINK SHEETS:RAREF)(OTCQX:RAREF) is pleased to report that final results have been received from its summer exploration program on the B3N/Dory Pond area of the Company's Red Wine Property in Central Labrador. Final results have now been received for the Dory Pond area drilling, prospecting and soil geochemistry surveys. The bulk of the Red Wine work was carried out on the Two Tom Deposit, located 30 km east of Dory Pond, where a 43-101 compliant resource is expected to be calculated by year end once the final drill assays are received.

The Dory Pond drill program consisted of seven holes targeted on various targets identified from the 2010 field program. Results from these holes are detailed in the table below. The best results included a previously reported intersection of 1.55% TREO (HREO/TREO of 42.1%) over 21.0 meters from hole B3N-03 (See previous press release dated Sept 6, 2011). The other holes were targeted on various anomalous geochemical and prospecting results and intersected anomalous REE results. A location map of all the drill holes can be viewed on the Company's website at www.rareearthmetals.ca.

Additionally, results from the 2011 prospecting and soil geochemistry surveys at Dory Pond have defined a number of additional targets that will need testing. These new prospect sample results include values up to 8.48% total rare earth oxides (TREO) and 4.63% zirconium oxide (ZrO2). Values from the prospect samples also contained very significant Heavy Rare Earth content that varied from 4% to 54% TREO. Several new occurrences of rare earth mineralization were discovered in the Dory Pond area, further extending the previously reported mineralized zones and showings (see previous press releases dated August 31, September 22, November 22, and December 13, 2010). Significant results from these 196 prospect samples collected during the 2011 season, are tabulated below:

Soil geochemistry was also completed over the Dory Pond REE–Zr Mineralized Zone which is outlined by a mineralized boulder train that has been traced for over 4000 meters. Results from a total of 1739 B–horizon samples have now been compiled and these outline three separate high REE zones from 250 meters to 1600 meters wide.

The Dory Pond area is shaping up as the best target for Heavy Rare Earths in the Red Wine belt and this recent work has outlined a number of new targets for additional drill testing including step out drilling on the 21.0 meter intersection in hole B3N -3.

QA/QC protocol - Drill core, prospect and soil samples were transported by helicopter daily to Rare Earth Metals Inc.'s camp. At the Company's core shed, drill core samples were taken at geologically significant intervals, typically over 1.5 meters. Core recovery was approximately 95%. The designated sample intervals were cut using a diamond saw or manual core splitter. One half of the core was selected for geochemical analysis with the remaining half being placed back into the core box. Care was taken to ensure that neither half of the core represents a bias with respect to the nature and mineral content of the sample. Standard reference, duplicate and blank samples were inserted in soil and drill core samples for quality control. The sample interval and methodology are consistent with industry standards. Samples were delivered by Company personnel to Activation Laboratories Ltd.'s (Actlabs) sample preparation facility in Happy Valley - Goose Bay, Labrador. Pulverized drill core and grab samples, and dried soil samples were sent by Actlabs personnel from Goose Bay to its analytical facility in Ancaster, Ontario for analysis. Drill core and prospect samples were prepared for analysis using a lithium metaborate/tetraborate fusion method. An analytical package including the analysis of major oxides by ICP-OES and a suite of 43 trace elements by ICP-MS was implemented. Niobium was determined by XRF. Soil samples were analyzed by INAA and a suite of multi elements were determined using the 1D+34enh package. Accuracy and precision of the results is further tested by Activation Labs through the systematic inclusion of reference samples, blanks and duplicate samples. 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), and the Zirconium assays are given as Zirconium Oxide (ZrO2). 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 sample analysis described above are in decreasing order: Cerium, Lanthanum and Neodymium.

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'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

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.

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.