Canada Rare Earth Corporation

CANADA RARE EARTH PROVIDES CORPORATE DEVELOPMENT UPDATE

March 24, 2016

Vancouver, British Columbia - Canada Rare Earth Corp. (“Canada Rare Earth” or “the Company”) ( TSX.V: LL) is pleased to announce the appointment of Mr. Christopher F. Goodman to the board of directors of Canada Rare Earth.

Chris has an extensive background in commodity trading, international business development and natural resource procurement. He held senior management positions with Trafigura, Mercuria Energy and Noble Group in this regard. Much of his experience relates to global trading and to managing multiple complex projects in demanding, fast-paced and deadline-driven work environments. Chris is a proven leader and mentor in building and motivating high performing cross- functional/multicultural teams. Chris is a non-executive director of MHM Metals Limited a company listed on the ASX.

Additionally, Chris attended Executive Education programs at Harvard Business School and INSEAD University and he is completing a Global Executive Master of Business Administration degree at IESE Business School, Barcelona, Spain. He holds a Bachelor of Science (Hons) (Chemistry) from the University of Bristol.

Tracy A. Moore, CEO of Canada Rare Earth welcomed Chris to the Canada Rare Earth team and noted, “ Chris’ trading and project development and management experiences are easily adaptable to the rare earth industry and are a perfect fit for our rare earth trading activities and for managing large separation refinery projects.” 

We would also like to take this opportunity to announce the resignation of Mr. Michael Stares from our board of directors and to thank Mick for his many years of devoted service to the Company. Mick was the Chief Executive Officer of the company until September 2012 when the Company began its transition to developing an integrated business within the global rare earth industry. Mick was instrumental during the transition over the past 3 and ½ years. We wish Mick all the very best in his pursuits of mineral property exploration and property development.

On behalf of the Board

Tracy A. Moore, CEO       and       Peter Shearing, COO

ABOUT CANADA RARE EARTH CORP.

Canada Rare Earth Corp. is developing an international vertically and horizontally integrated business within the global rare earth industry. Our key focus is to generate revenues and positive cash flow from a variety of profit centers in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.

"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." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."  Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements.  These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.  Actual events or results could differ materially from the Company's expectations or projections.

For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com. 

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