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Press release from


Friday, August 05, 2011

CANADA RARE EARTHS SHAREHOLDERS APPROVE ALL RESOLUTIONS AT ANNUAL GENERAL MEETING17:29 EDT Friday, August 05, 2011(via Vancouver, British Columbia, Canada - August 5, 2011 - Canada Rare Earths Inc. (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) ("Canada Rare Earths" or the "Company") announces that all of the proposed resolutions have passed, in favour of the Company's recommendations, at the Company's Annual General Meeting, including: fix the number of directors at four; elect David McMillan, Harold Forzley, Robert Krause, and Chad McMillan as directors for the ensuing year; ratify the appointment of Smythe Ratcliffe LLP, Chartered Accountants as auditors of the Company and to authorize the directors to fix the auditors' remuneration; approve the Company's 2011 fixed 20% stock option plan; and 5. to approve the grant of new stock options to certain insiders of the Company at exercise prices lower than the exercise price of previously cancelled stock options The Company also announces that it has granted to directors, officers, employees and consultants an aggregate of 1,765,000 stock options under the Company's 2011 Stock Option Plan. The options will be exercisable for a period of five years, at a price of $0.50 per share, subject to regulatory approval. About Canada Rare Earths Canada Rare Earths is a growth company focused on the exploration and development of rare earth elements at its Goéland Rare Earths Project within the Montviel Carbonatite complex, Montviel Township Québec. The 100% owned Goéland property located 215 km north of Val-d'Or, is road accessible and consists of 47 claims totaling approximately 2,600 hectares within in the West and East blocks immediately adjacent to Geomega's (TSX-V: GMA) Rare Earths discovery in Montviel, Québec. Since the acquisition of the Goéland Project, the Company, in a short period of time, has successfully established itself in one of the largest Carbonatite complexes in North America. On Behalf of the Board, CANADA RARE EARTHS INC. "Chad McMillan" President & CEO Copyright (c) 2011 - All rights reserved.