Namibia Rare Earths Inc. Chair Acquires Additional Shares

Press Release

NAMIBIA RARE EARTHS INC. CHAIR ACQUIRES

ADDITIONAL SHARES

Halifax, Nova Scotia May 24, 2017 - Namibia Rare Earths Inc. (“Namibia Rare Earths” or

the “Company”) (TSX :NRE) announced today that Gerald J. McConnell, the Chair of the

Board of the Company, has acquired a further 24,000,000 shares (28.7%) of the Company

pursuant to a private share purchase agreement with three other shareholders of the

Company. The vendors included entities controlled by William E. Oberndorf which held

23,725,000 shares (28.3 %) of the Company prior to the closing of the transaction. This

acquisition increases Mr. McConnell’s holdings in the Company from 15.9% to 44.6%.

About Namibia Rare Earths Inc.

Namibia Rare Earths Inc. is focused on the accelerated development of the L ofdal 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 c ontain

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 uncertainties, 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.

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