Tasman Resources NL Retains Pincock Allen & Holt For Preliminary Economic Assessment of Norra Karr Heavy Rare Earth Elem by 24hgold

Re: News Release - Tuesday, August 09, 2011
Title: Tasman Retains Pincock Allen & Holt For Preliminary Economic Assessment of Norra Karr Heavy Rare Earth Element Project

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Vancouver, Canada - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV - TSM; Frankfurt - T61; Pink Sheets - TASXF). Mark Saxon, President & CEO reports that Tasman has awarded the contract for the Preliminary Economic Assessment (PEA) of the Company's 100% owned Norra Karr heavy rare earth element (HREE) and zirconium project in Sweden to independent consultants Pincock, Allen & Holt (PAH) of Colorado. The study will commence in August and is expected to be completed by before the end of 2011.

The PEA will use the updated NI 43-101 resource calculation currently being determined by PAH, and the metallurgical and mineral processing data being generated by SGS Minerals Services to determine and describe the scope of the potential future mining operation at Norra Karr.

"Tasman is pleased to have the internationally recognized technical group at PAH undertaking the Company's preliminary economic assessment of the Norra Karr project" said Mark Saxon, Tasman's President & CEO. "The PEA is the first major technical, financial and engineering study to be performed on the Nora Karr project and pending a positive outcome, Tasman expects advance rapidly into the launch of the prefeasibility study in early 2012. Norra Karr's existing infrastructure and high grades of the highly sought REE dysprosium sets it apart from its peers in the heavy REE space."

Norra Karr is located in southern Sweden, 300km SW of the capital Stockholm and lies in mixed farming and forestry land. The site is well serviced by power, roads and water allowing all year round access, plus a local skilled community. For an overview of the infrastructure and resource at site, please see a recent 3D fly through video at http://www.tasmanmetals.com/i/videos/video1/index.html.

About Tasman Metals Ltd.

Tasman Metals Ltd is a Canadian mineral exploration and development company focused on Rare Earth Elements (REE's) in the European region and is listed on the TSX Venture Exchange under the symbol "TSM". REE demand is increasing, due to the metals unique properties that make them essential for high technology and environmentally-beneficial applications. Since over 95% of REE supply is sourced from China, the European Union is actively supporting policy to promote domestic supply of REE's, to ensure the security of high-tech industry. Tasman's exploration portfolio is uniquely placed, with the capacity to deliver "high-tech" metals from politically stable, mining friendly jurisdictions with developed infrastructure.

The Company's Norra Karr project in Sweden is one of the most significant heavy REE resources in the world, and the only NI43-101 compliant REE resource in mainland Europe. With a TREO (total rare earth oxide) cut off of 0.4%, the Inferred Mineral Resource comprises 60.5 million tonnes grading 0.54% TREO and 1.72% ZrO2 (zirconium oxide), with 53.7% of the TREO being the higher value HREO (heavy rare earth oxide). The resource is unusually low in radioactive metals relative to peer projects, with less than 15 ppm each of uranium and thorium.

For more information regarding rare earth elements, see the Rare Metal Blog at www.raremetalblog.com or Resource Stock Digest at http://strategicmetalstocks.resourcestockdigest.com/.

On behalf of the Board,

"Mark Saxon"
Mark Saxon, President & CEO

Investor Information
www.tasmanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
Email: info@tasmanmetals.com

The qualified person for the Company's exploration projects, Mark Saxon, President and Chief Executive Officer of Tasman and a Member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists, has reviewed and verified the contents of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note to U.S. Investors Concerning Estimates of Inferred Resources. This news release uses the term "inferred mineral resource." We advise U.S. investors that this term is not recognized by the U.S. Securities and Exchange Commission. The estimation of inferrred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources.

Forward Looking Statements. This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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