Rare Earth Metals Corp. - Gold targets identified at Assean Lake


Rare Earth Metals Corp. -

VANCOUVER, Sep 09, 2002 (Canada NewsWire via COMTEX) --

Rare Earth Metals Corporation, (REM.V), is pleased to announce that the summer surface exploration program at Assean Lake, Manitoba, has identified a number of select new drill targets which are located on strike of known gold zones. The drill targets identified have been detected using a combination of ground magnetic, induced polarization, (IP), and MMI Geochem surveys. A multi-disciplinary approach to exploration has proven successful in locating gold and base metal mineralization at Assean Lake, in the previous programs.

There have been six significant gold discoveries at Assean Lake to date. (see map) Gold has been discovered over a strike length of 8 kilometres, within an area representing less than 25% of the total 100 square kilometre claim area. Drill crews are being mobilized to set up camp and prepare for a 1500 metre diamond drill program, expected to commence on the 15th of September. The drilling campaign will test new targets, as well as the strike length and depth extent of gold and nickel mineralization discovered in March 2002.

The significant discoveries to date at Assean Lake include:

1. Shear hosted Gold occurs in four zones, the most notable of which is the Hunt Zone, which has been traced over a strike length of 600 metres. The Hunt zone is up to 10 metres wide and grades reach 9.37 g/t gold over 8.15 metres (27 feet). The B-52 Zone, which occurs 3 km east, and on strike with the Hunt Zone, was discovered during the 2002 winter drill program. The B-52 Zone grades up to 10.0g/t gold over 4.0 metres, (13 feet) and has only been tested by four holes to a depth of 80 metres.

2. Gold in sulphide-iron-formation has been discovered in addition to the above shear-hosted zones. Hole HT-02-86 intersected 13.8 metres, (45 feet) grading 0.71 g/t gold in a sulphide iron formation approximately 1 Km east of the Hunt Zone.

3. Thompson-type nickel-cobalt mineralization was intersected during the winter 2002 drill program. Of significance was an intersection grading 0.55% nickel over 3 metres, (10 feet). Mineralogical work indicates the nickel is hosted in the high-grade nickel minerals Pentlandite and Vaesite.

News will be released as results are compiled and interpreted. The Assean Lake project is a joint venture between and Rare Earth Metals Corp, (40%), International Curator Resources Ltd. (60%)

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ON BEHALF OF THE BOARD, John Roozendaal B.Sc. (Geol) President, Director

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