Mr. Mark Saxon reports

TASMAN JOINS THE CRITICAL MATERIALS INSTITUTE

Tasman Metals Ltd. has been accepted as an observing member of the Critical Materials Institute (CMI). CMI is an initiative of the U.S. Department of Energy (DOE) and is recognized as a leader in research to optimize the extraction and use of critical raw materials including rare earth elements. Tasman is focused on its 100-per-cent-owned Norra Karr heavy rare earth element (REE) project in Sweden. Norra Karr is unusually rich in the heavy REE dysprosium that is essential to high-strength permanent magnets which operate at elevated temperature.

The CMI team is co-ordinated and led by the Ames Laboratory in Iowa, with contribution from national laboratories, universities and various industry partners. CMI's focus is to develop technologies and strategies that reduce the criticality of REEs and other elements which may hinder the current and future development and commercialization of clean energy technologies. The CMI aims to reduce the risks in Western REE supply chains, including the encouragement of diversification of supply sources.

"Tasman has monitored the achievements of the CMI since its inception in early 2013 and is now looking forward to working closely with the CMI," said Mark Saxon, Tasman's president and chief executive officer. "The combination of excellent research and industry partners with the results-based goals of the CMI has potential to remove many of the impediments to the development of sustainable REE supply chains in the Western world. The CMI membership comes at a pivotal time for Tasman, with the delivery of the prefeasibility study for Norra Karr now imminent."

For more information on the CMI aims and research partners, readers should visit CMI's website.

Mr. Saxon continued: "With 2015 now upon us, I want to take this opportunity to thank our various stakeholders for their ongoing support despite the challenges of the past year. Downward pressure on all major commodity prices has hit the mineral exploration and mining industries hard, with no sector or company immune.

"Tasman enters 2015 well positioned in the critical metals sector, with a unique European asset portfolio. Management believes our focus on the Norra Karr heavy REE project in Sweden remains well justified. Norra Karr is one of the most significant heavy REE deposits in the Western world, it is very well supported by existing infrastructure, Sweden is an active mining country and it lies on the doorstep of major consumers of REEs. The imminent completion of the PFS is an exciting milestone for the company and brings closer the possibility of REE supply independence for the European Union.

"In 2014, we took the opportunity to expand our portfolio with additional critical metals projects at a low cost, all within our area of expertise. Tasman intends to cost-effectively add exceptional assets during this downturn should opportunities be identified.

"I thank you for the continued interest and support in Tasman's growth and development, and look forward to sharing a safe and successful 2015."

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.

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