The Gold Report

Tasman Metals Ltd. TICKER: TSM:TSX.V; TAS:NYSE.A; TASXF:OTCPK; T61:FSE Visit Company Website Tasman Metals is a Canadian mineral exploration and development company focused on rare earth elements (REE) in Europe. Tasman's flagship project is Norra Karr, located in infrastructure-rich, mining-friendly Sweden. The project is the fourth-largest heavy rare earth element project in the world and the only NI-43-101-compliant REE mineral resource in mainland Europe. The inferred resource of 60.5 Mt. averages 0.54% total rare earth oxide with 53% heavy rare earth oxide is unusually rich in yttrium and dysprosium and can secure REE metal supply for Europe for many years.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

The Critical Metals Report Interview with Jeb Handwerger (2/14/12) "Sweden actually has recognized Tasman Metals Ltd. as a national asset, a strategic asset. Its flagship project is called Norra Karr. It's a large HREE project—the fourth-largest HREE element project in the world and the only NI-43-101-compliant REE mineral resource in mainland Europe. It's in a mining-friendly location with great infrastructure. What's also interesting is that this deposit has eudialyte mineralogy. Tasman has made significant progress in developing the process flow sheet for Norra Karr, which is critical for the PEA that will be nearing completion in a few weeks. Not only has the company shown impressive rare earth recoveries, but it is able to physically separate nepheline/feldspar with low iron content. This would be a great way to significantly reduce tailings. Recoveries of the HREEs exceeded 90%. Tasman is in the process of developing a PEA. Tasman, we believe, can lead the pack because it's the only company on the European continent with a deposit that possesses an NI 43-101 resource with a high percentage of dysprosium and terbium."

Edward Otto, Cormark Securities (2/10/12) "Tasman Metals Ltd. announced the results of metallurgical testing on its Norra Karr rare earths project, completed by the Geological Survey of Finland. We view the results of the metallurgical tests as positive, confirming our estimates of ~80% overall rare earths recovery, and demonstrating the low cost pre-concentration and low-temperature leaching nature of the deposit. . .we are maintaining our Buy rating and $6 target. . .we believe the project has the potential to become a ~7,500 tpa rare earths producer with ~$5/kg rare earths in concentrate cash costs and ~$41/kg realized price."

Brien Lundin, Gold Newsletter (Jefferson Financial) (2/3/12) "Tasman Metals Ltd. has begun a phase 4 drilling program at Norra Karr. . .the 8,000m, 40-hole program will attempt to upgrade as much material as possible from the project's current Inferred resource into the Measured and Indicated categories. As of the company's most recent resource update for Norra Karr, that Inferred resource stands at 60.5 Mt 0.54% total rare earth oxides and 1.72% zirconium oxide. . .Tasman looks attractively priced at current levels; it continues to be a Buy."

Jeb Handwerger for Resource Investor (1/9/12) "Tasman Metals Ltd. [is] leading the pack. B. .the company dominates the European continent as the only possessor of an NI 43-101-compliant resource with heavy rare earths and a high percentage of the vital element dysprosium. . .Tasman [has] broken downtrends on record high volume the first week of 2012."

The Critical Metals Report Interview with Anthony Mariano (12/13/11) "Eudialyte is an attractive, potential source of HREEs. . .Active exploration for acceptable grade and tonnage is happening. . . at Nora Kärr, in Sweden [which is] is Tasman Metals Ltd.'s project. . .Tasman [is] experimenting with the economic chemical processing of eudialyte and making innovative progress."

• Corporate Fact Sheet (1/1/12)
• Corporate Presentation (2/1/12)
• Tasman Metals Story (3/28/11)

Tasman Metals Corporate Video

(1/26/12) TSM: Quality HREEs

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