Avalon Rare announced an updated resource estimate for the Nechalacho Rare Earth Elements Deposit, Thor Lake, NWT which is effective as of November 21. The estimate, prepared by Avalon geologists and independently audited by Roscoe Postle Associates, referred to as "RPA", is based on the assays from all drilling completed up to August 27. The updated resource estimate further increases mineral resources in the Nechalacho Deposit at the key Measured level of confidence. The updated estimate is highlighted by an increase in Measured Mineral Resources in the Basal Zone to 10.88M tonnes grading 1.67% TREO, 0.38% HREO and 22.91% HREO/TREO at the revised base case cut-off of $320 NMR per tonne. The presence of a high grade sub-zone within the Basal Zone resource is apparent when higher NMR cut-offs are applied, as was highlighted previously in the Company's news release dated July 10.