Namibia Rare Earths Provides Update on Agreement to Acquire Portfolio of Critical Metal Properties in Namibia and $500,000 Private Placement

Namibia Rare Earths (“Namibia Rare Earths” or the “Company”) (TSXV: NRE) today provided an update on its progress towards completing the acquisition of a portfolio of critical metal properties (the “Properties”) from Gecko Namibia (Pty) Ltd. (“Gecko Namibia”) in consideration for the issuance of 64,000,000 common shares of Namibia Rare Earths (“Property Acquisition”) and on its progress towards completing a $500,000 private placement (“Private Placement”) both of which were announced in the Company’s press release of November 10, 2017. Pursuant to the policies of the TSX Venture Exchange (the “Exchange”), the Company is required to issue a news release every 30 days following its initial news release to provide an update on the status of the Property Acquisition.

The Company is focused on the regulatory process to obtain the consent of the Exchange for the Property Acquisition and the Private Placement. Exchange conditional approval of the Property Acquisition was obtained on November 17, 2017 and the Company is working to fulfill all conditions for final approval.
In accordance with the policies of the Exchange, the Namibia Rare Earths shares are currently halted from trading and it is expected that they will remain halted until receipt and review of acceptable documentation regarding the Property Acquisition, pursuant to Exchange listings Policy 5.3.

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