Quebec

.

tnw






(via Thenewswire.ca)



Vancouver, British Columbia - July 24th, 2012 - Canada Rare Earths Inc. ("Canada Rare Earths" or "the Company") (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) is pleased to announce that it has received graphite grab sample assay results derived from the Company's recent sampling and mapping program on the La Loutre property. The La Loutre property consists of contiguous claim blocks totaling approximately ? 2,500 hectares (25Km2) situated approximately 53 km to the east of Timcal's Lac des Iles Graphite Mine, 117 km northwest of Montreal. The sampling program has confirmed a graphite bearing structure covering an area approximately 7 kilometers by 1 kilometer with results of up to 22.04% Graphite in multiple parallel zones of 30 to 50 meters wide. Another area has also been identified covering approximately 2 kilometers by 1 kilometer in multiple parallel zones of 20-50 meters wide which includes results up to 18% Graphite. All assays are show in the table below*.



-----------------------------------------------------------------------------------------
|Sample|Graphite| |Sample|Graphite| |Sample|Graphite| |Sample|Graphite| |Sample|Graphite|
|No |% | |No |% | |No |% | |No |% | |No |% |
|---------------------------------------------------------------------------------------|
|98557 |22.04 | |98581 |4.89 | |98567 |2.97 | |98563 |1.72 | |98660 |1.04 |
|---------------------------------------------------------------------------------------|
|98577 |18.08 | |98670 |4.49 | |98593 |2.76 | |98628 |1.69 | |98619 |1.02 |
|---------------------------------------------------------------------------------------|
|98667 |18.04 | |98655 |4.35 | |98552 |2.63 | |98629 |1.65 | |98631 |1.00 |
|---------------------------------------------------------------------------------------|
|98597 |16.52 | |98560 |4.29 | |98595 |2.60 | |98592 |1.64 | |98603 |0.98 |
|---------------------------------------------------------------------------------------|
|98578 |15.52 | |98574 |4.28 | |98626 |2.60 | |98651 |1.61 | |98602 |0.97 |
|---------------------------------------------------------------------------------------|
|98653 |10.19 | |98579 |4.25 | |98652 |2.58 | |98669 |1.58 | |98661 |0.94 |
|---------------------------------------------------------------------------------------|
|98622 |8.20 | |98671 |4.21 | |98654 |2.48 | |98556 |1.49 | |98564 |0.94 |
|---------------------------------------------------------------------------------------|
|98663 |7.34 | |98668 |3.96 | |98586 |2.43 | |98585 |1.47 | |98598 |0.92 |
|---------------------------------------------------------------------------------------|
|98615 |6.85 | |98610 |3.89 | |98627 |2.27 | |98575 |1.46 | |98606 |0.87 |
|---------------------------------------------------------------------------------------|
|98662 |6.60 | |98617 |3.80 | |98562 |2.27 | |98571 |1.46 | |98596 |0.86 |
|---------------------------------------------------------------------------------------|
|98657 |6.53 | |98558 |3.77 | |98591 |2.21 | |98599 |1.44 | |98565 |0.85 |
|---------------------------------------------------------------------------------------|
|98656 |6.45 | |98561 |3.72 | |98582 |2.11 | |98621 |1.41 | |98601 |0.82 |
|---------------------------------------------------------------------------------------|
|98607 |6.28 | |98559 |3.67 | |98630 |1.99 | |98551 |1.36 | |98612 |0.80 |
|---------------------------------------------------------------------------------------|
|98568 |6.25 | |98580 |3.59 | |98620 |1.98 | |98625 |1.25 | |98666 |0.78 |
|---------------------------------------------------------------------------------------|
|98576 |6.25 | |98665 |3.55 | |98658 |1.96 | |98589 |1.19 | |98613 |0.77 |
|---------------------------------------------------------------------------------------|
|98566 |6.05 | |98673 |3.40 | |98609 |1.96 | |98623 |1.16 | |98600 |0.73 |
|---------------------------------------------------------------------------------------|
|98618 |5.48 | |98588 |3.24 | |98572 |1.96 | |98570 |1.15 | |98611 |0.72 |
|---------------------------------------------------------------------------------------|
|98569 |5.46 | |98583 |3.21 | |98659 |1.92 | |98604 |1.14 | |98553 |0.65 |
|---------------------------------------------------------------------------------------|
|98664 |5.36 | |98584 |3.16 | |98614 |1.87 | |98674 |1.11 | |98555 |0.46 |
|---------------------------------------------------------------------------------------|
|98672 |5.06 | |98587 |3.01 | |98608 |1.82 | |98590 |1.10 | |98554 |0.30 |
|---------------------------------------------------------------------------------------|
|98616 |5.00 | |98594 |3.01 | |98605 |1.73 | |98624 |1.10 | |98573 |0.16 |
-----------------------------------------------------------------------------------------




Please click the following link to see the sampling results overlying the Company's recent GPRTEM electromagnetic airborne survey map:




Surface Sample Results




Management is encouraged that these samples confirm the presence of graphite, on surface, and over a large area, all of which offers great potential to develop a graphite resource on the La Loutre property.




Conference Call




The Company would also like to remind shareholders and other interested parties that the Company has scheduled a 'webcast' to discuss this and other recent news. The webcast is scheduled for Tuesday July 24th, 2012 at 10am PST. Please visit the following link




For more information on the Company, please visit http://www.canadarareearths.com/">www.canadarareearths.com.




*Grab samples are selective by nature and are unlikely to represent the average grade of a deposit.




Jean-Sebastien Lavallee P.Geo, geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the content of this release.




Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.




On Behalf of the Board,




"Ron MacDonald"




Executive Chairman, Director