Announces Private Placement

Press Release

Namibia Rare Earths Inc.

Announces Private Placement

Halifax, Nova Scotia April 7, 2017 – Namibia Rare Earths Inc. (“Namibia Rare Earths” or

the “Company”) (TSX:NRE) is pleased to announce it intends to issue, by way of non -

brokered private placement, up to 7,142,857 common shares at a price of $0.07 per share

for gross proceeds of up to $500,000 (“Pr ivate Placement”). Net proceeds of the Private

Placement will be used for general working capital purposes.

The Private Placement is expected to close on or before April 28, 2017, and is subject to

certain conditions, including, but not limited to, the re ceipt of all necessary approvals

including the approval and acceptance by the Toronto Stock Exchange. All securities issued

pursuant to the Private Placement will be subject to a four -month hold period from the date

of closing.

Management Changes

The Company also announced that Teri Anderson has stepped down as chief financial officer

of the Company and Darrin Campbell has assumed this role effective today.

Mr. Campbell is a Chartered Professional Accountant and Certified Management Accountant

with approximately 20 years’ experience in various financial roles primarily in the venture

capital and resource sectors . Mr. Campbell has previously held the positions of Chief

Financial Officer and Controller of publicly traded mineral exploration companies and has

extensive experience with financings and public company continuous disclosure compliance,

including managing annual audits and the preparation and filing of quarterly and annual

financial reports.

Ms. Anderson served as CFO of the Company since i ts establishment in 2010 and she has

made significant contributions to the milestones achieved by the Company including taking

the Lofdal rare earth project in Namibia from discovery through to the filing of an

application for a mining permit. The Board would like to thank Ms. Anderson for her focus,

dedication and commitment to the Company.

Stock Exchange Listing

After considering various factors, including the con tinued listing requirements and the on -

going costs associated with having its common shares listed on the TSX, t he Company has

applied for voluntary delisting of its common shares from the TSX. The Company intends to

2

transition the listing of its common sh ares on to the TSX Venture Exchange under the

existing ticker "NRE". Application for listing has been made to the TSXV and the Company is

providing the necessary documentation to complete the listing process. The listing on the

TSXV is subject to final appr oval and acceptance by the TSXV. The Company expects the

delisting of its shares from the TSX and the transition to the TSXV to happen simultaneously

and the Company will issue a further press release once the date has been determined.

About Namibia Rare Earths Inc.

Namibia Rare Earths Inc. is focused on the accelerated development of the Lofdal Rare

Earths Project. The common shares of Namibia Rare Earths Inc. trade on the Toronto Stock

Exchange under the symbol “NRE”.

For more information please contact -

Namibia Rare Earths Inc.

Don Burton, President

Tel: +01 (902) 835-8760

Fax: +01 (902) 835-8761

Email: [email protected]

Web site: www.NamibiaRareEarths.com

No regulatory authority had approved or disapproved the adequacy or accuracy of this release. The foregoing information may contain

forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward -looking information, specifically, that

concerning future performance, is subject to certain risks and un certainties, and actual results may differ materially. These risks and

uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

-30-