8 October 2014
Toronto, ON – Avalon Rare Metals Inc.(TSX and NYSE MKT: AVL) (“Avalon” or the “Company”) is pleased to report on recent progress at its 100% owned Nechalacho Rare Earth Elements Project (the “Project”) located at Thor Lake in the Northwest Territories (“NWT”), Canada.
Most of the technical work programs planned to optimize the 2013 Feasibility Study have been completed and an updated feasibility study is in preparation. Completion of this study awaits a decision on a location for the hydrometallurgical plant and revised cost estimates for this facility. The only significant technical work remaining is to carry out a pilot plant trial of the new hydrometallurgical process flowsheet to finalize engineering and plant design criteria. A bulk sample of Basal Zone material required for this work has been recovered and the trial will proceed once arrangements with a suitable facility are confirmed and the funding required (in the order of $4 million) is in place.