TMR Advanced Rare-Earth Projects Index

http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/

TMR is first and foremost interested in the rare-earths sector from the strategic point of view. We are interested in the potential value that specific rare-earth deposits and their development could have, in the furtherance of the needs and demands of the overall technology supply chain.

The TMR Advanced Rare-Earth Projects Index consists of rare-earth projects currently underway around the world, which have been either:

• formally defined as a mineral resource or reserve under the guidelines of a relevant scheme such as NI 43-101 or the JORC Code, or
• subject to past mining campaigns, and for which reliable historical data is available, even if not formally compliant with a relevant scheme.

The Index, last updated on February 15, 2012, currently consists of 34 advanced rare-earth projects, associated with 32 different companies and located in 13 different countries, as shown in the table below. Click on a project name to see the data associated with the project.

TMR Advanced Rare-Earth Projects Index

	Project	Location		Owner(s)	Ticker Symbol(s)
	Araxá	BRA	Minas Gerais	MBAC Fertilizer Corp.	TSX:MBC, OTCQX:MBCFF
	Bear Lodge (Bull Hill Zone)	USA	Wyoming	Rare Element Resources Ltd.	TSX.V:RES, AMEX:REE
	Bokan (Dotson / I & L Zones)	USA	Alaska	Ucore Rare Metals Inc.	TSX.V:UCU, OTCQX:UURAF
	Buckton	CAN	Alberta	DNI Metals Inc.	TSX.V:DNI, F:DG7
	Çanakli I	TUR	Burdur	AMR Mineral Metal Inc.	N/A
	Clay-Howells	CAN	Ontario	Rare Earth Metals Inc.	TSX.V:RA, OTCQX:RAREF
	Cummins Range	AUS	Western Australia	Navigator Resources Limited & Kimberley Rare Earths Limited	ASX:NAV ASX:KRE
	Dubbo Zirconia Project	AUS	New South Wales	Alkane Resources Ltd.	ASX:ALK, OTCQX:ANLKY
	Eco Ridge	CAN	Ontario	Pele Mountain Resources Inc.	TSX.V:GEM, OTCQX:PMNHF
	Eldor (Ashram Zone)	CAN	Quebec	Commerce Resources Corp.	TSX.V:CCE, OTCQX:CMRZF, F:D7H
	Foxtrot	CAN	Labrador	Search Minerals Inc.	TSX.V:SMY
	Hastings	AUS	Western Australia	Hastings Rare Metals Limited	ASX:HAS
	Hoidas Lake	CAN	Saskatchewan	Great Western Minerals Group Ltd.	TSX.V:GWG, OTCBB:GWMGF
	Kangankunde	MWI	Balaka	Lynas Corporation Ltd.	ASX:LYC, OTCQX:LYSDY
	Kipawa	CAN	Quebec	Matamec Explorations Inc.	TSX.V:MAT, OTCQX:MHREF
	Kutessay II	KGZ	Chui	Stans Energy Corp.	TSX.V:HRE, OTCQX:HREEF
	Kvanefjeld	GRL	Kujalleq	Greenland Minerals and Energy Ltd.	ASX:GGG, PK:GDLNF
	La Paz	USA	Arizona	Australian American Mining Corporation Ltd.	ASX:AIW
	Montviel (Core Zone)	CAN	Quebec	Geomega Resources Inc.	TSX.V:GMA
	Mount Weld CLD	AUS	Western Australia	Lynas Corporation Ltd.	ASX:LYC, OTCQX:LYSDY
	Mount Weld Duncan Deposit	AUS	Western Australia	Lynas Corporation Ltd.	ASX:LYC, OTCQX:LYSDY
	Mountain Pass	USA	California	Molycorp Inc.	NYSE:MCP
	Nechalacho	CAN	Northwest Territories	Avalon Rare Metals Inc.	TSX:AVL, AMEX:AVL
	Niobec	CAN	Quebec	IAMGOLD Corporation	TSX:IMG, NYSE:IAG
	Nolans Bore	AUS	Northern Territory	Arafura Resources Ltd.	ASX:ARU, PK:ARAFF
	Norra Kärr	SWE	Småland	Tasman Metals Ltd.	TSX.V:TSM, AMEX:TAS, F:T61
	Sarfartoq (ST1 Zone)	GRL	Qaasuitsup	Hudson Resources Inc.	TSX.V:HUD, OTCQX:HUDRF
	Steenkampskraal	ZAF	Western Cape	Great Western Minerals Group Ltd.	TSX.V:GWG, OTCBB:GWMGF
	Strange Lake (B-Zone)	CAN	Quebec	Quest Rare Minerals Ltd.	TSX.V:QRM, AMEX:QRM
	Tantalus	MDG	Diana	Tantalus Rare Earths AG	F:TAE:GR
	Two Tom	CAN	Labrador	Rare Earth Metals Inc.	TSX.V:RA, OTCQX:RAREF
	Wigu Hill	TZA	Morogoro	Montero Mining and Exploration Ltd.	TSX.V:MON
	Xiluvo	MOZ	Sofala	Southern Crown Resources Ltd.	ASX:SWR
	Zandkopsdrift	ZAF	Northern Cape	Frontier Rare Earths Ltd. & Korea Resources Corp.	TSX:FRO, PK:FREFF

Other Notes:

• Over time, the Index will expand as mineral-resource estimates for additional projects are defined.
• The Index includes advanced rare-earth projects known to Technology Metals Research, LLC (TMR), based on public-domain information only. Therefore, it is possible that there are other advanced rare-earth projects currently in development or operation, which are not included in the Index, and / or at the time of the last update, were not known to TMR.
• Only advanced rare-earth projects that are fully or partially owned or operated by corporations, or other non-state-run entities, are included in the Index.
• At present, the Index deliberately excludes any advanced rare-earth projects (as defined above) located in either China or India.
• All value estimates (for in-situ REOs within each resource, or the unit basket prices for finished products) exclude Ho-Er-Tm-Yb-Lu oxides from the pricing models.

Disclosures concerning the above companies: Gareth Hatch is neither a shareholder of, director of nor a consultant to any of the companies listed in the TMR Advanced Rare-Earth Projects Index. Jack Lifton is long on Great Western Minerals Group Ltd. He is a consultant to Rare Earth Metals Inc., Rare Element Resources Ltd., Ucore Rare Metals Inc. and to Tasman Metals Ltd. He is a director of AMR Mineral Metal Inc. and a member of the supervisory board of Tantalus Rare Earths AG (statement last updated February 15, 2012).