Mr. Mark Saxon reports

TASMAN CLARIFIES TECHNICAL DISCLOSURE

As a result of a review by the British Columbia Securities Commission, Tasman Metals Ltd. is issuing the following news release to clarify certain aspects of its technical disclosure.

The BCSC has identified certain issues with the disclosure in the company's current technical reports and with certain of the company's other technical disclosure, as set out as follows.

A. Technical reports

The company advises that, as set forth under items 1 and 2, the following technical reports are not compliant with National Instrument 43-101, Standards of Disclosure for Mineral Projects:

• "Preliminary Economic Assessment -- NI 43-101 Technical Report for the Norra Karr (REE-Y-Z) Deposit - Granna, Sweden," dated May 11, 2012, in support of the first-time disclosure of a preliminary economic assessment on the company's Norra Karr project;
• "Technical Report for Olserum REE Deposit, Southern Sweden," dated April 2, 2013, in support of the first time disclosure of a mineral resource estimate on the Olserum rare earth element (REE) deposit.

1. Norra Karr report

The BCSC's review identified the following examples where the Norra Karr report does not comply with the requirements of NI 43-101:

1. The economic analysis in Section 22 of the Norra Karr report fails to include a summary of taxes applicable to the Norra Karr property or to production, and to revenue or income from the project, as required by Item 22(d) of Form 43-101F1.
2. The authors of the Norra Karr report disclose the quantity and grade of the deposit as a block-model inventory without using the required categories of inferred, indicated or measured mineral resources contrary to Section 2.1(a) of NI 43-101 and state that such disclosure is NI 43-101 compliant, which is not accurate.
3. The Norra Karr report contains references to NI 43-101 compliance in the context of exploration information, such as data, drilling, probing, sampling and resources, which is inconsistent with the stated application and requirements of NI 43-101. NI 43-101 establishes rules for how issuers disclose scientific and technical information but does not provide rules for the collection of exploration information or the estimation of mineral resources.
4. The Norra Karr report uses the term ore to describe mineral resource quantities, which implies economic viability and is, therefore, not appropriate before the completion of a positive prefeasibility study or feasibility study.
5. Although the Norra Karr report recommends a work program on the Norra Karr property, it fails to provide particulars and a breakdown of costs as required by Item 26 of Form 43-101F1.
6. The consents of qualified person filed with the Norra Karr report do not comply with Section 8.3(1)(d) of NI 43-101.

2. Olserum report

The BCSC's review identified the following examples where the Olserum report does not comply with the requirements of NI 43-101:

1. The Olserum report did not apply a cut-off grade and failed to apply metallurgical assumptions, assumptions of mining methods or metal prices in the mineral resource estimation. Such key assumptions and parameters are relevant, and should have been included in the Olserum report in order to ensure that the Olserum mineral resource estimate meets the resource definition in NI 43-101. Accordingly, the Olserum mineral resource estimate should not be relied on until the amended Olserum technical report referred to as follows is filed.
2. The authors of the Olserum report appear to disclaim responsibility for scientific and technical information contained in the Olserum report contrary to Section 6.4 of NI 43-101.
3. The Olserum report contains references to NI 43-101 compliance in the context of exploration information, such as data, drilling, probing, sampling and resources, which is inconsistent with the stated application and requirements of NI 43-101 as noted above in Item (iii) under the heading Norra Karr report;
4. The exploration disclosure in Section 9 of the Olserum report fails to include all the information required by Item 9 of Form 43-101F1. In addition, the section includes an historical estimate for the project without also providing the information required by Section 2.4 of NI 43-101, which governs the disclosure of historical estimates.
5. The Olserum report recommends infill and extension drilling work to increase the confidence of the resource category from indicated to measured. However, the report fails to take into consideration other work necessary, such as metallurgical and geotechnical studies, to achieve the level of confidence required for such classification.
6. The Olserum report does not comply with the requirements of NI 43-101 and Form 43-101F1, which came into force on June 30, 2011.
7. The consents of qualified persons filed with the Olserum report do not comply with Section 8.3(1)(d) of NI 43-101.

The company has instructed the respective authors of the technical reports to make the revisions required to address the above comments of the BCSC and will file amended technical reports, when completed.

B. Technical disclosure

The BCSC identified the following issues with the company's other technical disclosure.

1. The disclosure of the economic analysis with respect to the Norra Karr project extracted from the Norra Karr report in the company's (i) annual information form for the year ended Aug. 31, 2012, (ii) management discussion and analysis for the six months ended Feb. 28, 2013, (iii) March 21, 2012, news release, (iv) fact sheet previously posted on the company's website, and (v) May, 2013, corporate presentation previously posted on the company's website includes only the pretax economics, net present value and internal rate of return without disclosing the comparative after-tax values, which could potentially overstate the value of the Norra Karr project. Additionally, such disclosure does not include the proximate cautionary language in relation to a preliminary economic assessment or details required by Section 2.3(3) of NI 43-101.

To address the above-noted issues, the company has removed the fact sheet and May, 2013, presentation from its website and has requested that the authors of the Norra Karr report revise the report to include the comparative after-tax values in the Norra Karr economic analysis.

2. The March news release and fact sheet contain the following statements: "The PEA clearly demonstrates the strong economics of the project" and "Norra Karr is one of the most economically robust projects amongst its peers." The BCSC has raised concerns that these statements could potentially be confusing as they contradict the definition of a PEA and the cautionary language required by Section 2.3(3)(a) and Section 3.4(e) of NI 43-101.

The statements referenced above should not be relied upon and the company wishes to retract such statements. As the annual information form, management discussion and analysis, and March news release cannot be withdrawn from circulation, the company wishes to correct this disclosure, and cautions that a PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability.

3. The March news release, the May, 2013, presentation, the fact sheet and statements on the company's website, disclose mineral resources that are contrary to Section 2.3 and Section 3.4 of NI 43-101 in that:

• On its fact sheet, and slides 20 and 31 of the May, 2013, presentation, the company disclosed a mineral resource without: (a) providing the effective date of each mineral resource; (b) disclosing the key assumptions, parameters and methods used to estimate the mineral resource; (c) identifying any known legal, political, environmental or other risks that could materially affect the potential development of the mineral resource; and (d) providing the required cautionary language; all contrary to sections 3.4 (a), (c), (d) and (e) of NI 43-101.
• In the March news release and on slide 20 of the May, 2013, presentation, the company disclosed the quantity and grade of the Norra Karr project as a block-model inventory or a mineral inventory, which, as noted above in Item (ii) under the heading Norra Karr report, is contrary to Section 2.3 (1)(a) of NI 43-101.

The company has removed the fact sheet, the May, 2013, presentation and the non-NI 43-101-compliant statements from its website. The company wishes to retract the disclosure relating to the block-model inventory and mineral inventory from the March news release, and cautions that the potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource, and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

4. On slide 29 of the May, 2013, presentation, the company disclosed historical estimates for the Olserum project without also providing the necessary information required by Section 2.4 of NI 43-101.

The company has removed the May, 2013, presentation from its website, and the referenced disclosure should not be relied upon.

5. The company's March news release, Feb. 27, 2013, news release, the fact sheet and project pages of its website state that the "mineral resource estimates are NI 43-101 compliant" and that they are the "only NI 43-101 resource of REEs in mainland Europe." The BCSC has raised concerns that such statements may be confusing because they are inconsistent with the stated application and requirements of NI 43-101. In particular, NI 43-101 establishes rules on how issuers disclose mineral resource/reserve estimates, and other scientific and technical information, and does not provide rules for the collection of exploration information or the estimation of mineral resources. The company has removed the fact sheet from its website and has removed the above-noted statements from the project pages of its website. The company wishes to retract the above-noted statements from its March news release and February news release.

6. In the May, 2013, presentation, the company failed to identify and disclose the relationship to the company of the qualified person who prepared or supervised the preparation of the technical information it is disclosing, as required by NI 43-101. The company has removed the May, 2013, presentation from its website.

The qualified person for the company's exploration projects, Mark Saxon, president and chief executive officer of Tasman, and a fellow of the Australasian Institute of Mining and Metallurgy, and member of the Australian Institute of Geoscientists, has reviewed and verified the contents of this release.

We seek Safe Harbor.