Playfair Expands Into Rare Earth Exploration

Playfair Mining Ltd. (TSX VENTURE:PLY) is pleased to announce the 100%
acquisition by staking of four large claim blocks in central Labrador.
Playfair's claims, located in the Letitia Lake - Red Wine River region, cover a
highly prospective area which is enriched in both rare metals and rare earth
elements (REE). 


Playfair's Joy REE project is located within the historic rare metals
(beryllium, zirconium, yttrium and niobium) and rare earth elements (REE)
Letitia Lake - Red Wine River exploration camp. This camp has many
regional-scale lithological and geochemical similarities to the Strange Lake
REE-Zr-Y-Nb-Beryllium deposit owned by Quest Uranium Corporation, located 260
kilometres to the northwest. Like Strange Lake the Joy REE Project area is
underlain by middle mesoproterozoic peralkaline rocks which are enriched in rare
earth elements and other uncommon metals. Importantly, the area is also marked
by extensive regional scale rare element lake sediment & till anomalies and also
numerous surface prospects. 


Playfair Chairman Don Moore states, "We are very pleased to provide shareholders
the opportunity to explore an exciting new addition to Playfair's industrial
metal portfolio. Playfair's expansion into the vital world of REE exploration
complements our long held view on tungsten, as another strategic group of metals
which are facing geopolitically related supply challenges. Playfair considers
this exploration camp as being in its infancy and is pleased to be among first
movers in re-discovering this most intriguing and under explored REE region."


The Joy REE project claim blocks envelop a combination of both lake sediment and
till geochemical samples which are anomalous in a range of rare metals (Zr, Be,
Nb, Y, Hf) and rare earth elements (La, Ce, Sm, Eu, Dy, Th & U). These lake
sediment and till samples were collected by the government of Newfoundland and
Labrador on rough 4km and 2km centres, respectively. The geochemical anomalies
are considered to be locally derived as indicated by government glacial history
studies and the bedrock sources are yet to be uncovered. The claims cover no
historical prospects. 


Together the four claim blocks total 313 claims, cover a combined total surface
area of 7,825 hectares (19,335 acres) and are located about 250 kilometres south
of Voisey's Bay or 160 km northwest of Goose Bay. The Churchill Falls highway
#500 is favourably located about 100 kilometres to the south of the project
area. 


During the 1950's and 1960's, the Letitia Lake - Red Wine River region was the
focus of both rare metal and rare earth element (REE) exploration. These
explorations led to the discovery of several beryllium, zirconium, niobium and
REE element showings; the most notable are the Mann #1 & 2, Michelin #1, Two Tom
Lake and North Red Wine No. 1 to 4. The Mann #1 is perhaps the most significant
of these prospects; where historic documents report rock sampling (surface and
drilling) show average results of 0.35-0.40% BeO & 0.24% Nb2O5. Rock samples
collected from the Two Tom Lake showing are anomalous in Be and Nb and highly
enriched in REE; reportedly averaging about 2% REE. In 1969, surface bulk rock
samples were collected from the North Red Wine property, analyses of these
samples showed that the mineralized zones are highly anomalous in ZrO2 (about
13%), yttrium (1.8%) and REE (2.5%). 


Playfair is currently completing a digital compilation of historical exploration
and government geoscientific data for the region. The future proposed
exploration program may include more detailed lake sediment-till sampling,
prospecting, geological mapping and an airborne radiometric-magnetic geophysical
survey. 


China produces more than 90% of the world's REE and has recently taken steps to
hoard its own production creating well founded supply concerns for the worlds
developed countries. Rare earth metals and elements are used in a variety of
critical ways, such as in the production of engines/batteries in hybrid cars,
consumable electronics, (Blackberries, iPods, flat screen televisions),
miscellaneous green energy technologies and military applications. 


REE exploration fits well with PLY's mandate of accumulating strategic metal
assets. The Joy REE land acquisition complements PLY's view on tungsten, as the
geopolitical and supply problems facing REE and tungsten are similar. China's
self serving stance on many speciality metals continues to reflect that it
requires the majority of its internal production for its own national growth,
effectively starving the rest of the world of these critical metals. Their
recent change in position on REE further solidifies China's plans for such
strategic assets. 


Michael Moore, P.Geo is the Qualified Person who has reviewed the technical
information contained in this News Release on behalf of Playfair. 


Visit our website at www.playfairmining.com for more information.

ON BEHALF OF THE BOARD 

D. Neil Briggs, Director

Forward-Looking Statements: This Playfair Mining Ltd. News Release may contain
certain "forward-looking" statements and information relating to Playfair which
are based on the beliefs of Playfair management, as well as assumptions made by
and information currently available to Playfair management. Such statements
reflect the current risks, uncertainties and assumptions related to certain
factors including, without limitations, exploration and development risks,
expenditure and financing requirements, title matters, operating hazards, metal
prices, political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners, governmental
regulation and supervision, seasonality, technological change, industry
practices, and one-time events. Should any one or more of these risks or
uncertainties materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward-looking statements may vary materially
from those described herein.
Playfair Mining (TSXV:PLY)
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