THUNDER BAY, ONTARIO–(June 7, 2012) – Rare Earth Metals Inc. (“Rare Earth Metals“, “RA” or the “Company“) (TSX VENTURE:RA)(OTCQX: RAREF)(PINKSHEETS:RAREF) is pleased to announce it has initiated line-cutting and a ground electromagnetic survey on the Manitouwadge Graphite Property. The property consists of 128 staked claim units totaling 2072 hectares and is located approximately 30 kilometers north of the town of Manitouwadge in northwestern Ontario.

The purpose of the ground survey is to determine the overall strike length and continuity of the graphite zones outlined previously by an airborne electromagnetic (AEM) survey flown by Dighem Surveys for Noranda Exploration Services in 1989. The (AEM) anomalies associated with the graphite horizons are coincident with an intense magnetic low and have a strike length exceeding 4 km. At present there are three graphite horizons identified through both the historic work and the new trenching recently completed by the Company. The zones range from 4 to 12 meters thick with grades from chip samples ranging from 2.04% to 4.18% carbon. Screen tests completed on the higher grade composite sample confirmed the presence of flake graphite, recognized in both the plus 65 mesh (0.212mm) and plus 35 mesh (0.425mm) fractions (see previous press release May 30, 2012).

Results from additional metallurgical work are pending. This work includes gravity separation and froth flotation tests to get an early understanding of how well the flake graphite can be concentrated. These results will be released once they are received.

Paul Nielsen, P Geo., 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 web site 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.

THUNDER BAY, ONTARIO–(May 30, 2012) – Rare Earth Metals Inc. (“Rare Earth Metals“, “RA” or the “Company“) (TSX VENTURE:RA)(PINKSHEETS:RAREF)(OTCQX:RAREF) is pleased to announce results from its ongoing exploration program on the Manitouwadge Graphite Property. The property consists of 128 staked claim units totaling 2072 hectares, located approximately 30 kilometers north of the town of Manitouwadge in northwestern Ontario. RA owns a 100% interest in the claims. Since its due diligence prospecting program reported in previous press release dated April 19, 2012, the Company has completed a trenching/chip sampling program and a preliminary mineralogy/particle size analysis.

Backhoe trenching and chip sampling were completed on five different portions of the three interpreted bands of “flake graphite”. Results include 3.92% C-Graphite over 8.0 meters (m) from the North Zone, 2.96% C-Graphite over 12 m from the Central Zone, and 4.18% C-Graphite over 6.5 m from the South Zone (Thomas Lake Road Occurrence). The table below details the results from the five trenches. A location map of the drill holes can be viewed on the Company’s website at www.rareearthmetals.ca. The trenching was directed at easily accessible areas of the graphite zones which are located along a minimum 900 meter trend coincident with two or more airborne EM (Electro-Magnetics) anomalies within a well defined magnetic low. The EM anomaly appears to be mapping the graphite mineralization and the total length of the conductive trend is in excess of 4 km. A number of other similar AEM “conductors” in the area have also been staked and will be evaluated for their graphite potential.

Preliminary results were also received from mineralogy/particle size analysis studies done on a sample from the North Zone. Particle Size Analysis (PSA) was completed on a crushed portion of this sample which analyzed 9.27% C-Graphite. Flake graphite was recognized in both the plus 65 mesh (Tyler) (0.212 millimeters) and the plus 35 mesh (Tyler) (0.425 mm) fractions with 42.9% of the total Graphite reporting to the plus 35 mesh and 69.4% of total Graphite in the plus 65 mesh fraction. The sample was also sent for a mineralogical analysis by MLA (Mineral Liberation Analyser) to determine the grain size of graphite and a semi-quantitative mineralogical analysis. Preliminary results from this study indicate that graphite is significantly liberated (about 40%) at the current grind (100% passing 850 microns/20 mesh) and the -850/+300 size fraction is more representative of the natural graphite flake size. In the -850/+300 micron fraction, the flake size determination is 310 microns which is considered coarse flake graphite. Additional mineralogical studies are ongoing and will include gravity separation and froth flotation tests to concentrate graphite and determine recovery and grade.

Michael Stares, President and CEO of Rare Earth Metals states, “The results from this limited work has confirmed that the Manitouwadge graphite mineralization has a tonnage potential and flake size quality that has surpassed our minimum requirements. We are initiating the next phase of work which will include ground geophysics and follow-up sampling/trenching to prioritize the ‘sweet spots’ along the three parallel zones. A drill program is anticipated once this next phase of work is completed”.

The chip samples described in this report were taken using a hammer and chisel to systematically sample a continuous channel of bedrock material across the graphite mineralized trend. The results listed in the above table are composites made up from continuous samples of between 1 and 2 meters in length. The PSA was completed on a surface grab sample which is selective by nature and unlikely to represent average grades on the property. The chip samples were delivered to the Actlabs sample prep facility in Thunder Bay, Ontario, where they were prepped and forwarded to Ancaster where they are analyzed for their graphitic carbon content using internal lab QA/QC protocols. The PSA and mineralogy studies were performed by Actlabs.

Reg Felix, P Geo., 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 web site 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.