Dr. William Bird of Medallion reports

RARE ELEMENT AND MEDALLION EXPAND EDEN RARE EARTH CLAIMS

Medallion Resources Ltd. and Rare Element Resources Ltd. have significantly expanded their Eden Lake rare-earth-element property in Western Manitoba by staking six additional mineral claims. Medallion is exploring the Eden Lake property under a joint venture option agreement with Rare Element that gives Medallion the right to earn a 65-per-cent interest.

As reported earlier, the current exploration program is focused on mapping and sampling surface areas of REE-bearing mineralized and fenitized syenite and related REE-bearing rocks. Recent 2010 exploration and re-evaluation of past data have significantly enlarged the prospective area of this type of mineralization, which has a potential for cost-effective surface-mining techniques.

The new claims cover a southern extension of the surface exposure of this REE-bearing rock and total 1,329 hectares. Also claimed is the location of a magnetic anomaly that was discovered by the airborne geophysical survey conducted for Medallion by Aeroquest in December, 2009. The Eden Lake property now comprises 14 contiguous claims for a total of 3,200 hectares, or 32 square kilometres.

Dr. Bill Bird, Medallion's president, commented: "Our goal is to discover large-tonnage neodymium or heavy rare-earth deposits that are easily processed and occur in low-cost mining and milling venues. Our Eden REE project has the potential to meet these criteria. We have increased our land position to cover all prospective ground."

Medallion also explores over 42 square kilometres of the Red Wine peralkaline intrusion in southern Labrador under an agreement to option a 100-per-cent interest in six mineral licences (subject to a 3-per-cent royalty). The portions of the Red Wine intrusion that are covered by the six licences are known to host the mineral eudialyte, which contains elevated values of the heavy REEs.

Dr. Donald E. Ranta, PhD, PGeo, serves the Rare Element board of directors as an internal, technically qualified person. Technical information in this news release has been reviewed by Dr. Ranta and has been prepared in accordance with Canadian regulatory requirements that are set out in National Instrument 43-101.