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Rare Earth Metals Reports 1.71% TREO Over 27.0 Meters Within 1.04% TREO Over 70.5 Meters From Latest Drill Hole Results on Mann #1

THUNDER BAY, ONTARIO--(Marketwire - Oct. 19, 2010) - Rare Earth Metals Inc ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA - News) is pleased to report Rare Earth Element/Niobium/Beryllium results from the sixth drill hole on the Mann #1 Deposit at the Red Wine property located approximately 110 kilometers northeast of Churchill Falls in west central Labrador. DDH Mann#1 - 06 tested the Mann #1 REE/Nb/Be zone 600 meters east of the previously reported Mann#1 - 04. The results from this latest hole include a best intersection of 1.71% TREO, 0.24% Nb2O5 and 0.20% BeO over 27.0 meters within a wider zone of 1.04% TREO over 70.5 meters. The HREO/TREO ratio from the 27 m intersection is 5.8% and the 70.5 meter composite is 6.9%.Six drill holes have now been reported for the Mann #1 Beryllium deposit. These were drilled over a 600 meter strike length, and all holes intersected multiple wide REE/Nb/Be zones within a plus 100 meter mineralized envelope (drill thicknesses of individual zones range between 7 meters and 52.5 meters). Prospecting has traced the zones along strike a further 600 meters to the east and 300 meters to the west for a total strike length to date of 1500 meters, and these zone extensions will be targeted for future drilling in 2011.Rare Earth is also pleased to report additional prospect sampling results from the Dory Pond REE-Zr Mineralized Zone. The zone is outlined by a mineralized boulder train that has been traced for a 1000 meter strike extent. Results from the latest prospect samples (14 samples total) ranged from 0.22% to 2.43% TREO with 7% to 34% Heavy Rare Earth Oxides in samples with greater than 0.5% TREO. Previous results from the Dory Pond Zone ranged from 0.09% to 6.72% TREO. The TREO values ranged from 5% to 30% Heavy Rare Earth Oxides. The importance of this new zone of mineralization is the increased level of Heavy Rare Earths which appears to be outlining a different style of mineralization within the Red Wine Rare Earth Belt. Two orientation test lines of soil samples have also been collected over the zone to try to better locate the source of the mineralization at Dory Pond. These results are pending.The remainder of the drill results from the recently completed 18 drill hole program and prospect sample results will be released as they are received.Core from the drill program was transported by helicopter from the drill site, logged at Rare Earth Metals' camp and split in half using a diamond table saw or a manual core splitter. One half of the core was sent to Activation Laboratories Ltd. ("Actlabs") for analysis and the other half was kept in core boxes at the camp for reference. All samples were delivered by Company personnel to Actlabs' sample preparation facility in Happy Valley-Goose Bay. The samples were processed and representative pulps sent to Actlabs' analytical facility in Ancaster, Ontario. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion and the analysis is completed using ICP, ICP/MS and XRF techniques. For QA/QC purposes Rare Earth Metals systematically inserts duplicates and blanks into every sample batch. The Company has also established a program of third party check-assays with other labs to confirm the original results. Actlabs is an ISO 17025 (Lab 266) and NELAP (lab E87979) accredited lab for specific registered tests. The Rare Earth Element assays are given as Total Rare Earth Oxides (TREO), the Niobium assays are given as total Niobium Oxides (Nb2O5), and the Beryllium assays are given as total Beryllium Oxides (BeO).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 two advanced projects in Ontario and Newfoundland and Labrador, all exhibiting multi element potential (REEs, Niobium, Beryllium, Zirconium 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 CEOThis 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."