Ms. Tracy Moore reports

CANADA RARE EARTH APPOINTS MANAGING DIRECTOR BUSINESS DEVELOPMENT FOR SE ASIA AND AUSTRALIA

Canada Rare Earth Corp. has appointed Bill Mcgregor as managing director business development for Southeast Asia and Australia.

Tracy A. Moore, chief executive officer, explained: "We are extremely pleased to welcome Bill as a critical member of our team. Bill has collaborated with us on a number of initiatives over the past few years. With this successful experience, we are very pleased to be engaging Bill on a more comprehensive basis extending Canada Rare Earth's development activities in Southeast Asia and Australia. We have great respect for Bill's abilities and welcome his perspectives on our projects in other regions such as South America and Africa."

Mr. Mcgregor is a successful business development, corporate finance and capital raising specialist with transaction experience across Southeast Asia, Australia and Africa. He is based in Singapore, works closely with the financing ecosystem that has developed there and now has an increasing focus on origination, development and financing of resource projects across Asia and Australia. In particular, he has recently focused on technology metals including lithium, nickel and rare earths. In prior years Mr. Mcgregor was involved in more conventional sectors including copper, gold and coal projects. Mr. Mcgregor has originated and negotiated joint venture businesses with major resource houses including Vale, Anglo American and Ivanhoe Mines as well as many junior listed and private companies.

Building on long experience, Mr. Mcgregor maintains strong links within the resources sector in Southeast Asian countries and Australia. Australia is already a global player in rare earths and he is seeking to also realize the potential of other countries in Asia -- both as suppliers and users.

Mr. Mcgregor elaborated: "I have enjoyed working for CREC and look forward to working as a close team member in creating CREC's global essential minerals supply chain strategy with a footprint encompassing several continents. With global sourcing, production and processing capabilities, and its penetration of international product markets, I believe CREC is uniquely positioned to become a major player in the RE space. My challenge, which I am excited to accept, is to ensure that CREC participates to the fullest extent in the established upstream source market of Australia and the emerging and fast-growing countries of Southeast Asia. I am also pleased to contribute to the CREC team in delivering on their wider global ambitions."

The company will be issuing 2.15 million stock options to officers, directors and consultants of the company. These options vest over 24 months and are exercisable at five cents per share for three years.

About Canada Rare Earth Corp.

Canada Rare Earth is developing an international integrated business focusing on essential and critical minerals, including rare earths. The company's strategy is to generate revenues and positive cash flow as the company acquires and develops its own properties and establish value-add processing capabilities.