Final Assays from Assean Lake Gold Project Winter Drill Program



April 21, 2004 (REM – TSX.VENTURE) Rare Earth Metals Corp. (the “Company”) has received the final results from the 4,237 meter winter drilling program at Assean Lake in north-central Manitoba. Joint Venture partner and project operator Canadian Gold Hunter (CGH-TSX) reports that the 2004 winter drill program has not only resulted in the expansion of the known high grade Hunt Zone, but has also resulted in the discovery of a new gold zone in the footwall of the Hunt Zone (referred to as Hunt B).

The main Hunt Zone demonstrates good continuity and predictability. Early in the program the geometry of a deep fault structure was resolved, providing a much greater understanding of the plunge and dip of the Zone. The Zone plunges to the west, is flattening and is open both to the west and at depth (see accompanying long section )

The two Hunt holes reported herein, HT-158 and HT-161, intersected the Hunt B Zone, which is associated with abundant crystalline arsenopyrite, similar to nearby holes higher in the section in the western part of the main Hunt Zone.

Assays are listed in table form below for these last two drill holes in the Hunt Zone and plotted on the accompanying long section. Two reconnaissance holes from the North Shore of Assean Lake are also listed.

Hole No. Collar Azimuth/Angle Interval (m) Length (m)* Gold (g/t) Zone
HT-04-158 1550E/00N 333°/-60° 169.30-182.50 13.20 0.43 Hunt
including 172.28-174.00 1.72 1.40 “
including 180.00-182.50 2.50 0.87 “
and 203.15-206.30 3.15 2.85 Hunt B
including 204.10-205.20 1.10 4.89 “
HT-04-161 1500E/025S 333°/-60° 193.20-201.10 7.90 3.17 Hunt B
including 196.55-198.30 1.75 7.73 “
HT-04-140 6800W/025 343°/-44° 118-40-118.70 0.30 1.15** Recon
HT-04-150 8000W/100N 343°/-63° 80.95-85.40 4.45 1.18 “
including 80.95-83.00 2.05 2.20 “
*True widths are 80% to 85% of the reported lengths. ** Includes 39.5 g/t Ag and 0.99% Pb.

A 4000-metre summer drill program, anticipated to start in July, 2004, will follow up on the excellent results from the winter drill program (please refer to earlier news releases dated March 26 and April 7, 2004). The summer drill program will focus on further defining the depth extensions of the Hunt Zone.

Rare Earth Metals is also planning a summer field program on its 100% optioned Row/Lass claims. The Row/Lass claims constitute an 8km long block covering the eastern extension of the Assean Lake Shear Zone (ALSZ) referred to above. The ALSZ is a major break in the earth’s crust, which can be traced for over 200 km. Major geologic structures similar to the ALSZ are associated with gold camps throughout the Canadian Shield. The company’s summer program on its Row/Lass claims will include a comprehensive geochemical survey. The survey results will be compared with Magnetic/HLEM geophysical data collected in 2003 to identify and prioritize drill targets for a contemplated winter drill program.

Rare Earth Metals Corp has also optioned a 100 % interest in the Wood claims block which covers 7 kilometers of the West strike extent along the Assean Lake Shear Zone (ALSZ) claims. Therefore, the company holds solely (Row/Lass and Wood) or jointly (Hunt) over 35 continuous kilometers of the ALSZ.

The Hunt claims are held jointly by Rare Earth Metals (REM) 40% and Canadian Gold Hunter (CGH-TSX) 60%.

Drill results and technical data have been reviewed by Jan Christoffersen, P.Eng., a Qualified Person pursuant to NI-43-101. The mineralized drill core intervals are split in the field and sent to ALS Chemex in Vancouver for analysis. The intervals containing visible gold are assayed by fire-assay procedure for metallics gold. This procedure involves pulverizing a one-kg sample and passing the prepared pulp through a 150 mesh (106 micron) screen. The +150 mesh material is analyzed in its entirety by fire assay. The -150 mesh material is homogenized and a 50-gram subsample is assayed by fire assay with gravimetric finish. The samples from sections that did not contain visible gold were fused by fire assay and analyzed by atomic absorption spectroscopy. A series of standards are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards

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

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