Mr. Mark Saxon reports

TASMAN COMPLETES DRILL PROGRAM FOR BULK METALLURGICAL SAMPLE AT NORRA KARR PROJECT, SWEDEN

Tasman Metals Ltd. has completed a drill program to collect a representative metallurgical sample at the 100-per-cent-owned Norra Karr heavy rare earth element project in Sweden. In addition, guidance on the imminent completion of the Norra Karr preliminary feasibility study is provided.

The recent diamond drill program has delivered approximately eight tonnes of large-diameter core that will be used for additional metallurgical test work during 2015. The cost of this drill program was borne by the EURARE project, of which Tasman is a research partner. EURARE is a research project co-funded by the European Commission under the Seventh Framework Programme of the European Community for Research, Technological Development and Demonstration Activities (grant agreement NMP2-LA-2012-309373).

An array of shallow holes each 83.7 millimetres in diameter and up to 12 metres in length was drilled across an area approximately 250 metres by 550 metres. The Norra Karr REE deposit begins at surface with a width of 350 metres, a length of 800 metres lying typically beneath less than one metre of soil cover, making representative sample collection by such drilling both simple and cost-effective.

"The collection of this large metallurgical sample places Tasman in a good position for the ongoing optimization of our process flowsheet during 2015," said Mark Saxon, Tasman's president and chief executive officer. "We certainly appreciate the funding contribution of the European Commission via the EURARE project for this work, and their ongoing interest in development of a European REE supply chain."

Tasman and its consultants are now approaching completion of the PFS on the Norra Karr project. The PFS is substantially complete, with only financial modelling and final validation to be completed. Release of the results of the PFS is anticipated for January, 2015.

Norra Karr is unusually rich in the heavy REE dysprosium that is essential to high-strength permanent magnets which operate at elevated temperature. Recent upward price movements in Dy (SMM Information and Technology, Dec. 5, 2014) and the long-term growth forecast for permanent magnet consumption of 5 to 10 per cent provide a positive background for the release of this PFS.

Mr. Saxon continues, "After the challenging market conditions of 2014, the Tasman team is looking forward to taking the next steps in project development during 2015, with our PFS in hand and improving market conditions for REEs."

Norra Karr lies 15 kilometres north-northeast of the township of Granna and 300 kilometres southwest of the capital Stockholm in mixed forestry and farming land, and is secured to Tasman with a 25-year mining lease. The project is proximal to road, rail, power and operating ports, plus skilled employees, minimizing the need for off-site infrastructure to be built by the company.

Tasman's qualified person, Mark Saxon, president and chief executive officer of Tasman, 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.