R.E.M. Reports Best Ever High Grade Gold Intersects Including 38.8 G/T; Major Drill Program Planned for this Summer, Assean Lake Project, Manitoba

April 07, 2004 (REM – TSX) … Rare Earth Metals Corp., is pleased to report high-grade gold assay results from drilling on the Hunt Zone on the Company’s Assean Lake, shear-hosted gold project in north-central Manitoba as received by Canadian Gold Hunter (CGH-TSX) our Joint Venture Partners. A total of 4,237 meters were drilled in the 25-hole program, which concluded on March 27th. Nine holes (2,476 m) were drilled on the Hunt Zone and 16 holes (1,761 m) on reconnaissance targets on the north side of Assean Lake. (See website for the latest long section of the Hunt Zone. www.remcorp.info )

High-grade assays from three drill holes in the Hunt Zone, HT-147, 151 and 155, are listed in table form below and plotted on the accompanying long section provided by (CGH). As a group and individually, these gold intercepts are the best ever encountered on the Hunt Zone! Significant visible gold was noted in all of the intercepts. In addition, a second high-grade zone (Hunt B) was intersected in HT-147 some 40-45 meters below (to the north of) the Hunt Zone. Only the upper part of the Hunt B was cut in HT-151, which was shut down too early. The Hunt B Zone is also present in HT-155.

Hole No. Collar Azimuth/Angle Interval (m) Length (m)* Gold (g/t) Zone
HT-04-147 1550E/020S 333°/-63° 208.85-210.80 1.95 16.83 Hunt
and 254.96-256.60 1.64 19.28 Hunt B
HT-04-151 1600E/010S 333°/-62° 189.65-192.60 2.95 16.96 Hunt
including 190.15-192.15 2.00 24.53 Hunt
and 239.25-240.00 0.75 3.78 ** Hunt B
HT-04-155 1650E/025S 333°/-61° 202.83-207.10 4.27 27.22 Hunt
including 203.18-206.12 2.94 38.78 Hunt
and 239.50-244.20 4.70 1.73 Hunt B
*True widths are 80% to 85% of the reported lengths. **Hole stopped in Hunt B Zone.

Rick Bailes, President of Canadian Gold Hunter, commented “These are spectacular results. The high-grade shoot continues to show excellent continuity, is flattening and is clearly open to the west and at depth. The Hunt B Zone is an added bonus, which gives an exciting new dimension to the potential of the Hunt target. We will be undertaking a major drill program on the Hunt Zone again this summer to follow up on these excellent results.” Assays are pending on HT-158 and 161, the last two holes drilled to the west and higher in the Hunt Zone section.

Rare Earth Metals Corp. also has agreements with Strider Resources Limited, to acquire a 100 % interest in both the Row/Lass and Wood claim blocks. The extension claim blocks encompass an area of 3271 Hectares (8083 acres) in 16 claims along the Assean Lake Shear Zone (ALSZ). The Row/Lass claims cover 8 kilometers of the East strike extent and the Wood claims cover 7 kilometers of the West strike extent, respectively, of the core claim group, which is held under joint option by Rare Earth Metals (REM) 40% and Canadian Gold Hunter (CGH-TSX) 60%.

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 Assean Lake property is an advanced gold exploration project with over $3,000,000 invested in exploration.

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 www.RareEarthMetals.net or speak with a Company representative toll free 866 816 0118 or by emailing info@rareearthmetals.net

 
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