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ST40 - is a well-defined radiometric anomaly measuring approximately 1000m by 250m. At the heart of the anomaly, nine sub-crop rock samples were collected within an area measuring 125m by 100m. Seven of the samples produced assays ranging from 2.5% to 5.3% TREO. The seven samples averaged 1.8% Nd2O5 (neodymium oxide) and 417ppm Eu2O3, (europium oxide) which are atypically high amounts for REE projects. The REE distribution of lanthanides for the seven sub-crop samples are: neodymium 46% greater than cerium 20% greater than praseodymium 8% greater than lanthanum 5%. The neodymium levels are highly elevated compared with typical levels of 10% to 15% found in other deposits. The minerals hosting these elements are currently being investigated. Neodymium is one of the more valuable rare earths, as it is a key component in neodymium-iron-boron super magnets used in motors for wind turbines, hybrid cars, and other green technologies. Neodymium oxide currently trades for approximately US$15/kg. Similarly, europium is amongst the least abundant of the rare-earth elements and is a critical component in flat panel display technology. Europium oxide currently trades for around US$500/kg. Two rock samples located 1000m and 1400m west of ST40 (roughly half way between ST40 and ST1) averaged 0.9% TREO. These samples are intriguing because they also contain an average of 1.4% niobium oxide (Nb2O5). This area is predominantly under cover but warrants further exploration to determine potential continuity of mineralization between the two prospects. Niobium oxide currently trades for approximately US$25/kg.

Neo Material Technologies Inc. (TSX: NEM) (the "Company" or "Neo") announced today that it has signed a Memorandum of Understanding ("MoU") with Mitsubishi Corporation ("Mitsubishi"). This MoU represents the establishment of a strategic partnership between Neo and Mitsubishi for the identification, development and commercialization of rare earth resource opportunities outside of China.