SOURCE: REE International, Inc.

December 01, 2011 16:05 ET

REE International Nears Finalization of First Purchase Order

BOSTON, MA--(Marketwire - Dec 1, 2011) - REE International, Inc. (PINKSHEETS: REEI) (the "Company"), a U.S. based mineral exploration company focused on the exploration and production of rare earth elements, today announces the Company is in the final stages of negotiating its first sale of tantalum mined from its Santa Cruz property located in Venezuela. It is anticipated that the order will be finalized within the next 30-60 days.

Tom Mackay, CEO of REE International, stated, "This order is expected to be the first of several significant orders from the same purchaser. Further details are expected to be announced once the order is finalized, including the purchaser and revenues generated from the deal. Although there is no spot market for tantalum, recent sales of the metal with South American origin have netted prices between $90 and $130 per pound."

The rare metals produced by REE International's mining operations are critical to many existing and emerging applications, including: clean energy technologies, such as hybrid and electric vehicles and wind power turbines; various high-tech uses, such as fiber optics, lasers and hard disk drives; numerous defense applications, such as guidance and control systems and global positioning systems; advanced water treatment technology for use in industrial, military and outdoor recreation applications; and other technologies imperative to the future.

About REE International, Inc.

REE International, Inc. is a U.S. based mineral exploration company seeking to identify and build an inventory of mineral properties with a primary emphasis on South America. The Company will initially focus on the exploration, mining and sale of tantalum and niobium from their Santa Cruz property located in Venezuela. For more information, please visit our website at www.reeinternational.com.

Forward-Looking Statements

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.

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