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(via Thenewswire.ca)



Vancouver, British Columbia - July 31st, 2012 - Today, Canada Rare Earths Inc. ("Canada Rare Earths" or "the Company") (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) announces that the directors of the Company and the TSX Venture Exchange have approved changing the name of the Company to Canada Strategic Metals Inc. Under the Company's articles, the name of the Company may be changed by a resolution of the directors. The Company's name change will become effective, and the Company's shares will commence trading on the TSX Venture Exchange under the new name at the opening of trading, on August 1, 2012. The Company's trading symbol will not be changed.




Shareholders wishing to exchange their share certificate for a certificate in the new name of the Company can do so by forwarding their share certificates to Computershare Investor Services Inc. Attn: Client Services Dept. in Vancouver to 510 Burrard Street, 2nd Floor, Vancouver, BC V6C 3B9 or in Toronto to 100 University Avenue, 9th Floor, Toronto, ON M5J 2Y1. Shareholders forwarding share certificates to Computershare Investor Services Inc. by mail are advised, for their own protection, to do so by registered mail.









Neither 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