Mr. Peter Smith reports

RUSH RARE METALS TO ISSUE SHARES

Rush Rare Metals Corp. will issue an aggregate of 150,000 common shares of the company to certain directors of the company as compensation for services provided to the company. Each share will be issued at a deemed price of 18 cents per share, representing aggregate consideration of $27,000, and will be subject to a four-month hold period in accordance with the policies of the Canadian Securities Exchange.

The issuance of shares to the directors is considered to be a related party transaction as defined under Multilateral Instrument 61-101. This issuance is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of such issuance does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. In considering and unanimously approving the issuance of the shares, there were no materially contrary views, abstentions (except for any abstentions required by corporate law) or material disagreements by any director of the company. The company will not file a material change report at least 21 days before issuing the shares, which is reasonable given the MI 61-101 exemptions noted above.

About Rush Rare Metals Corp.

Rush Rare Metals is a mineral exploration company focused on its Boxi property, located in the province of Quebec, Canada. Rush also owns the Copper Mountain project, located in Wyoming, which it has optioned to Myriad Uranium Corp. Rush currently has a 100-per-cent interest in the Boxi property and a 25-per-cent interest in the Copper Mountain project.

We seek Safe Harbor.