2004 Winter Drilling Program Starts at Assean Lake Gold Project in Manitoba


February 17, 2004 (REM - TSX.V) . Rare Earth Metals Corp. (the "Company") is pleased to announce that drilling has commenced at the Company's Assean Lake gold project in north-central Manitoba. Up to 4,000 metres of diamond drilling is scheduled for this program to test the depth extent of the high-grade Hunt Zone on the Hunt Peninsula as well as the Blowfish target area on the north shore of Assean Lake.

The Hunt Zone has been drilled to a depth of 300 metres in previous programs and traced for 600 metres along strike, including a 100-metre long high-grade shoot with intervals up to 9.37 g/t gold over 8.15 metres.

Blowfish is a new discovery from the 2003 winter program. The discovery hole HT-128 intersected 6.2 metres grading 5.69 g/t gold, including 0.87 metres grading 21.01 g/t gold.

The Assean Lake project is an advanced exploration play with over $2 million dollars in drilling and surveying activity to date. The prime exploration target at Assean Lake is shear-hosted gold associated with gold-enriched sulphide iron formation, typical mineralization styles for gold deposits on the Canadian Shield.

Six gold zones have been identified to date (both from historic and current exploration programs) on the Company's property over a 12-kilometre strike length. The gold zones occur along the Assean Lake Shear Zone, a 200 kilometre long deformation zone similar to major shear zones associated with important gold mining camps elsewhere on the Canadian Shield.

The Assean Lake Project is a 60/40 joint venture between Canadian Gold Hunter and Rare Earth Metals Corp.

Drill results and technical data have been review by Jan Christoffersen, P.Eng., a Qualified Person

pursuant to NI-43-101.

On behalf of the board,

John Roozendaal
President C.E.O. & Director

For more information about Rare Earth Metals Corp. please review the company’s website or speak with a Company representative toll free 866 816 0118 or by emailing

The TSX Venture Exchange has not reviewed this press release and does not accept

responsibility for the adequacy or accuracy of this release.