Mr. Mark Saxon reports

TASMAN COMMENCES PRE-FEASIBILITY STUDY FOR NORRA KARR HEAVY RARE EARTH ELEMENT PROJECT, SWEDEN

Tasman Metals Ltd. has commenced a prefeasibility study (PFS) for the Norra Karr heavy rare earth element (REE) project in Sweden. Following an extensive review process, Tasman's management has selected a highly qualified technical team with REE and European experience. Tasman is well financed, having recently raised $5.2-million which provides the capital required for the PFS, further metallurgical research, on-site environmental testwork and monitoring.

The PFS will be led and co-ordinated by GBM Minerals Engineering Consultants, based in Twickenham, United Kingdom. GBM is a specialist metallurgy and engineering consulting group, which provides service from testing and design through to EPCM. Other members of the PFS team include Wardell Armstrong International (WAI) for geology, mineral resources, mining and tailings management, Golders Associates AB for social impact, environment, permitting and water management, and Denco Strategic Research & Consulting Inc. for markets and pricing. All consultants have had previous involvement with the project, most notably GBM which has managed the metallurgical testing program and flowsheet design for Norra Karr, and Golders which was responsible for Tasman's successful mine lease (ML) application and associated environmental and social impact assessments.

Tasman released its initial preliminary economic assessment (PEA) for Norra Karr on March 21, 2012, followed by a revision released on July 11, 2013. Subsequent to the release of the PEA, management has focused on advancing the development of the metallurgical flowsheet, which will be further detailed in upcoming company news releases. Furthermore, an additional 72 drill holes will be included in an updated CIM-compliant resource.

"The commencement of the PFS is the next important milestone in the development of the Norra Karr project, bringing together a large amount of new technical data," said Mark Saxon, Tasman's president and chief executive officer. "We are very pleased to have assembled such a competent technical team. Norra Karr is a very significant heavy REE project with the potential to underpin Europe's REE needs for many decades to come, and the Tasman team is excited to be taking the project to this next stage. Following our recent financing, Tasman is well positioned to execute on its goals. We are targeting fourth quarter 2014 for completion of the PFS."

Norra Karr lies 15 kilometres north-northeast of the township of Granna and 300 km southwest of the capital Stockholm in mixed forestry and farming land. The short time taken from discovery to ML application demonstrates the efficiency and advantage of operating in a jurisdiction with a strong and transparent mining act and a long-term association with resource industries. The project is proximal to road, rail, power and operating ports, plus skilled personnel, minimizing the need for off-site infrastructure to be built by the company.

The company also announces the signing of a surface access right purchase agreement with an arm's-length private Swedish landowner on which the company's Norra Karr project is located. Pursuant to the agreement, Tasman will issue 36,000 common shares in exchange for the exclusive surface access rights to the property to perform all such exploratory and developmental activities as Tasman may deem necessary. The issuance of the shares is subject to TSX Venture Exchange and New York Stock Exchange acceptance.

Tasman's qualified person, 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 news release.

We seek Safe Harbor.