2 July 2014
Toronto, ON – Avalon Rare Metals Inc.(TSX and NYSE MKT: AVL) (“Avalon” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement of flow-through common shares ("Flow-Through Shares") and non flow-through units (“Non Flow-Through Units”) (collectively, the "Private Placement"), as described in the Company’s news release of June 19, 2014. The Private Placement was over-subscribed, resulting in gross proceeds of $2.166 million. Each Non Flow-Through Unit consists of one common share and one half share purchase warrant of the Company. Each whole warrant entitles the subscriber to purchase one common share of the Company at a price of $0.60 per share for a period of three years from the date hereof.