27 Aug 2013 07:00

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27 August 2013
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Rare Earth minerals plc
("Rare Earth Minerals", "REM" or "the Company")
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Increase in ownership of the Mexico Lithium Project to 30%
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Rare Earth Minerals (AIM: REM) has formally advised Bacanora Minerals Ltd ("Bacanora") that it is exercising its Option under the formal Joint Venture Agreement to move to 30% ownership of the Fleur-El Sauz Lithium Project in northern Mexico.
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Under the formal Agreement, REM will now pay Bacanora US$500,000 and commit to spending US$1 million on further exploration and drilling expenses over the next 6 months.
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REM still has a first right of refusal, under the agreement, to negotiate terms with Bacanora to increase its holding in the Joint Venture to 49.9%.
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David Lenigas, the Company's Chairman commented:
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"The Company is looking forward to releasing the maiden resources at the Fleur-El Sauz Lithium Project in Mexico. The election to proceed from 10% ownership of this Project to 30% is an important step forward for REM."
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For further information please contact:
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Rare Earth Minerals Plc www.rareearthmineralsplc.comÂ
David Lenigas, Chairman
+44 (0) 207 440 0640
 NOMAD - WH Ireland
James Joyce/Nick Field
+44 (0) 207 220 1666
PR - Pelham Bell Pottinger
Charlie Vivian/ Weston Macklem
+44 (0)20 7861 3232