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Press release from Marketwire

Avalon Rare Metals Inc. Announces Annual Filings for Its Fiscal Year Ended August 31, 2012

Thursday, November 29, 2012

Avalon Rare Metals Inc. Announces Annual Filings for Its Fiscal Year Ended August 31, 201218:43 EST Thursday, November 29, 2012TORONTO, ONTARIO--(Marketwire - Nov. 29, 2012) -Avalon Rare Metals Inc. (TSX:AVL)(NYSE MKT:AVL)(NYSE Amex:AVL) ("Avalon") is pleased to announce that it has completed the filings of its Consolidated Financial Statements, Management's Discussion and Analysis, Annual Information Form and Annual Report on Form 40-F with the SEC for its fiscal year ended August 31, 2012. Copies of these filings are available on the Avalon website at www.avalonraremetals.com, through SEDAR at www.sedar.com or through Edgar at www.sec.gov. Shareholders may also request a printed copy of the audited financial statements, free of charge, by email to ir@avalonraremetals.com or by regular mail to Investor Relations, Avalon Rare Metals Inc., 130 Adelaide Street West, Suite 1901, Toronto, ON M5H 3P5.About Avalon Rare Metals Inc. Avalon Rare Metals Inc. is a mineral development company focused on rare metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT, is emerging as one of the largest undeveloped rare earth elements resources in the world. Its exceptional enrichment in the more valuable 'heavy' rare earth elements, which are key to enabling advances in green energy technology and other growing high-tech applications, is one of the few potential sources of these critical elements outside of China, currently the source of 95% of world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones.Shares Outstanding: 103,621,986. Cash resources: approximately $27 million. To find out more about Avalon Rare Metals Inc., please visit our website at www.avalonraremetals.com. For questions and feedback, please e-mail the Company at ir@avalonraremetals.com.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Avalon Rare Metals Inc.Don BubarPresident416-364-4938ir@avalonraremetals.comwww.avalonraremetals.com