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Toronto, Ontario --
October 15, 2009 -- Avalon Rare Metals Inc. (the "Company" or
"Avalon") (AVL:TSX; AVARF:OTCQX) announced today that the Company
has hired Mr. David Swisher as Vice President, Operations to lead the
advancement of its Nechalacho Rare Earth Element Project, Thor Lake, NWT
through development to production. Mr. Swisher's initial responsibilities
will be to collaborate with the Vice-President, Exploration in overseeing
the completion of the Pre-feasibility Study on the Nechalacho deposit, being
undertaken by Scott Wilson RPA Inc., and begin planning for the completion
of the full feasibility study and environmental permitting process.
Mr. Swisher is a
mining engineer with over 25 years of underground and surface mining
experience in metals mining and industrial minerals operations. Mr.
Swisher was previously Vice President of Tamerlane Ventures Inc., where he
was responsible for successfully completing a multi-year environmental
permitting and feasibility study process for the Pine Point zinc-lead
project, located near Hay River, NWT. Mr. Swisher also has extensive
experience in the planning, engineering and managing of large-scale mining
operations at such companies as Cargill Deicing Technology, Getchell Gold
Corporation and Santa Fe Pacific Gold Corporation.
Commenting on
today's announcement, Don Bubar, President of Avalon, said, "The
addition of a seasoned mining executive of Mr. Swisher's calibre
demonstrates Avalon's commitment to advancing our Thor Lake project to
production in order to maximize shareholder value. Mr. Swisher brings
a great deal of experience and leadership to Avalon, not only in terms of
mine and project management, but also in community relations in the
Northwest Territories where he has an excellent track record from his work
with Tamerlane. We look forward to having David join our team and begin
building on the excellent progress achieved to date on the project under
the leadership of Avalon's VP, Exploration, Dr. William Mercer."
About Avalon Rare
Metals Inc. (TSX:AVL, OTCQX:AVARF)
Avalon Rare Metals
Inc. is a mineral exploration and development company focused on rare
metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho
Deposit, Thor Lake, NWT, is emerging as one of the largest undeveloped rare
earth elements resources in the world. Its exceptional enrichment in the
more valuable 'heavy' rare earth elements, which are key to enabling
advances in green energy technology and other growing high-tech
applications, is one of the few potential sources of these critical
elements outside of China, currently the source of 95% of world supply.
Avalon is well funded, has no debt and its work programs are progressing
steadily. Social responsibility and environmental stewardship are corporate
cornerstones.
Shares
Outstanding: 78,404,448. Cash resources: approximately $20 million.
This news release
contains forward-looking information and is subject to a variety of risks
and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
information. Forward-looking information is based on the opinions and
estimates of management at the date the information is given, and is
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking information. The forward-looking
information contained herein is given as of the date hereof and the Company
assumes no responsibility to update or revise such information to reflect
new events or circumstances, except as required by law.
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