Mr. Mark Saxon reports

TASMAN FILES AMENDED AND RESTATED TECHNICAL REPORTS ON ITS NORRA KARR AND OLSERUM PROPERTIES AND PROVIDES UPDATE ON NORRA KARR MINING LEASE

Tasman Metals Ltd., further to its news release of June 14, 2013, has filed amended and restated technical reports on its Norra Karr property and its Olserum property on SEDAR and the company's website. The Norra Karr report and the Olserum report were amended to address certain issues raised by the British Columbia Securities Commission as set out in the June 14, 2013, news release. The conclusions reached in the Olserum report have not varied from those disclosed in the previously filed report on the Olserum property and the company's news releases dated Feb. 19, 2013, and Feb. 27, 2013.

The Norra Karr report includes the following changes from the disclosure set out in the company's news release dated March 21, 2012:

PEA (preliminary economic assessment) financial highlights

• The discounted after-tax cash flow for the Norra Karr project is seen to be $1,465-million (U.S.) at an 8-per-cent discount rate, declining to $904-million (U.S.) and $622-million (U.S.) at discount rates of 12 per cent and 15 per cent, respectively. In the 2012 press release, the pretax cash flow was reported as $1,464-million (U.S.) at a 10-per-cent discount rate.
• The internal rate of return for the Norra Karr project, on an after-tax basis, is approximately 45 per cent. In the 2012 press release, the pretax internal rate of return was reported to be 49.6 per cent.
• Initial capital expenditures are $266-million (U.S.), including contingencies of $42.8-million (U.S.) for mining (10 per cent), processing (20 per cent) and overall project contingency (20 per cent). This is a reduction in initial capital from $290-million (U.S.) as reported in the 2012 press release.
• Sensitivity analyses were performed on the economic model to assess the impact for changes in the REO (rare earth oxide) price deck, initial capital and changes to operational costs. Sensitivities were performed on both a pretax and an after-tax basis. The economic model is most sensitive to changes in the REO basket prices followed by increases or decreases in operational costs and finally by initial capital expenditures in both pre- and after-tax cash flows. The 2012 press release reported sensitivities only on a pretax basis.
• Given the positive financial analysis set out in the Norra Karr report, a preliminary cost estimate of $3.8-million (U.S.) is presented for geological, mining, metallurgical and environmental studies to advance the project to the prefeasibility stage. A cost estimate for advancing the project was not presented in the 2012 press release.

Mineral resources

• In the Norra Karr report, references to "mineral inventory" or "block-model mineral inventory" have been removed in order to comply with Section 2.3(1)(a) of National Instrument 43-101, standards of disclosure for mineral projects, regarding the reporting of mineral resources.

The authors of the Norra Karr report believe that the changes presented above will not have a material effect on the conclusions of the Norra Karr report.

Further to Tasman's news release of May 21, 2013, Tasman has been advised that the mining lease granted by the Swedish Mining Inspectorate (Bergsstaten) for its Norra Karr property is currently under appeal from certain stakeholders. The nature of the appeal shall determine the duration of the appeal process, which may take up to 12 months. The mining lease remains in full effect.

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

We seek Safe Harbor.