Holes At Lofdal Intersect HREE To 250 Meters

Don Burton, President of Namibia Rare Earths, commented:

These deeper holes in Area 4 attest to the potential of Lofdal to host a heavy rare earth deposit. The drill program was designed to provide a high level of confidence in delineating resources to a vertical depth of 60-75 meters with closely spaced drill holes and to then step back and chase the higher grade mineralization to depth. The geometry of the deposit is simple and consistent. There is clear potential to develop significant tonnage to 250 vertical meters and beyond. For purposes of delivering an initial resource in Q3 2012, it was necessary to select a cut-off date to provide MSA with a verified database. But this is by no means the limit of the ultimate resource in Area 4. Once the geological model has been finalized in 3D we will consider deeper holes in the 200-400 vertical meter range. Exploration drilling options outside of Area 4 are being examined to initiate the next drill program scheduled to begin in late July 2012. We also look forward to receiving updates on the progress from sorting and metallurgical test work by Mintek over the coming months as we work towards delivery of the preliminary metallurgical report in Q4 2012.

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