TMX group

May 4, 2010 (Canada NewsWire Group) --

Including 62.1m averaging 0.81% TREO, 1.72% ZrO(2) with 56.0% HREO

Tasman Metals Ltd. ("Tasman" or the "Company") TSXV - TSM; Frankfurt - T61; Pink Sheets - TASXF. Mr Mark Saxon, President and CEO, is pleased to report assay results from an additional five (5) drill holes that test the Company's 100% owned Norra Karr rare earth element (REE) - zirconium (Zr) project in Sweden. Drill holes tested the host intrusion on sections 400m north and 400m south of the holes reported 4th March 2010. All drill holes intersected wide intervals of REE-Zr mineralization with the heavy rare earth oxide (HREO) contribution ranging from 55% - 66%. A highlight of these new Norra Karr results is NKA09010 which is located 400m south from the previously reported results. NKA09010 returned 62.1m at 0.81% TREO (total rare earth oxide), 1.72% ZrO(2) (zirconium oxide) with 56.0% of the TREO being HREO.

Results from the first 10 holes of this 26 hole drill program at Norra Karr have demonstrated multiple intervals of REE and Zr mineralization. The current 5 holes as reported here show mineralization to persist over an 800m strike length. Grades intersected thus far range up to 1.34% TREO and 3.5% ZrO(2) and mineralized thicknesses up to 149.3m. The high proportion of high value HREO previously encountered at Norra Karr has persisted in these 5 holes, with HREO values from all 10 holes now ranging from 6.7% to 68.1% of the TREO and averaging 55.5%.

"The Norra Karr intrusion has continued to deliver strong results for Tasman, with hole NKA09010 giving the highest REE grades on the project to date, again over impressive thicknesses" said Mark Saxon, Tasman's President & CEO. "We now know the intrusion to be mineralized over at least 800m strike, and to at least 100m vertical depth, highlighting significant near surface tonnage potential. In addition, many of the holes have ended in mineralization. The planned 26 hole program is now complete, and we look forward to receiving the balance of results over the coming months."

Of the current 5 holes reported, NKA09006 lies on the central section of drilling, 80m west of the previously reported NKA09005. NKA09007, NKA09008 and NKA09009 are spaced 80m apart on the section 400m north, and NKA09010 the first of 5 holes that lies on the section 400m south.

The best results returned from holes 6 to 10, calculated using a lower cut-off of 0.2% TREO are:

    <<
                                                    TREO      HREO     ZrO(2)
    DRILL HOLE        FROM        TO    LENGTH       (%)       (%)       (%)

    NKA00906          75.5  *150.4    74.9 m      0.48      60.4      1.82
      including      110.5  *150.4    39.1 m      0.62      58.3      1.87
                                               *mineralized to end of hole
    -------------------------------------------------------------------------
    NKA00907          42.4     102.0    56.9 m      0.35      64.6      1.94
      including       88.3      96.3     8.0 m      0.49      66.5      2.23
                     106.2  *149.3    43.1 m      0.27      63.7      1.42
                                               *mineralized to end of hole
    -------------------------------------------------------------------------
    NKA00908           3.1      22.4    19.0 m      0.29      63.7      1.80
                      28.4      52.9    25.0 m      0.33      63.2      1.81
                      64.5      98.6    34.0 m      0.26      65.0      1.42
                     113.0     139.7    27.0 m      0.28      61.3      1.17
    -------------------------------------------------------------------------
    NKA00909          22.4      44.7    22.0 m      0.25      63.6      1.27
    -------------------------------------------------------------------------
    NKA00910           4.4      66.5    62.1 m      0.81      56.0      1.72
    -------------------------------------------------------------------------
    >>

Previously reported drill holes, here with 0.2% TREO cut off

    <<
                                                    TREO      HREO     ZrO(2)
    DRILL HOLE        FROM        TO    LENGTH       (%)       (%)       (%)

    NKA00901           0.8      40.6    39.8 m      0.34      56.2      1.36
      including       33.9      38.8     4.9 m      0.59      39.9      1.20
    -------------------------------------------------------------------------
    NKA00902           0.5     113.6   113.1 m      0.42      57.6      1.57
      including        0.5      23.5    23.0 m      0.57      50.8      1.96
      including       35.5      45.5    10.0 m      0.79      57.9      2.03
    -------------------------------------------------------------------------
    NKA00903           3.0  *146.1   143.1 m      0.47      49.5      1.38
      including       16.6      95.4    78.8 m      0.56      45.0      1.59
    -------------------------------------------------------------------------
    NKA00904           2.5  *151.8   149.3 m      0.61      45.8      1.69
                                               *mineralized to end of hole
    -------------------------------------------------------------------------
    NKA00905          8.45  *152.1   149.3 m      0.65      55.7      2.10
      including       43.3     152.1   108.1 m      0.74      52.9      2.10
                                               *mineralized to end of hole
    -------------------------------------------------------------------------
    >>

Mineralization occurs within the Norra Karr peralkaline nepheline syenite intrusion, which covers 350m x 1100m, first discovered in 1906, and subsequently test mined for nepheline, Zr and Hf. Better grades of mineralization in drilling appear associated with partially melted or pegmatitic intervals within the intrusion. REE bearing minerals include eudialyte, catapleite, britholite, rosenbuschite, fergusonite and mosandrite. The project shows geological similarity to REE/Zr/Niobium (Nb) mines of the Lovozero province (Russia) and advanced projects at Kipawa Lake (Ontario), Strange Lake (Quebec) and Dubbo (Australia).

Tasman recently engaged REE expert Dr Anthony Mariano to lead the Company's research into the distribution of the REE minerals and metals and gain data required for future metallurgical research. Following the success of the current drilling program, Tasman has initiated discussion with various technical groups regarding REE extraction pathways.

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.

Sweden is the home of REE's, many of which were first discovered in a quarry in the village of Ytterby, near Stockholm. REE consumption is growing, being essential in the production of hybrid/electric cars, solar panels, wind turbines, compact fluorescent lighting, high-energy magnets, mobile phones and computers. Tasman hold numerous claims and claim applications across mining friendly regions in Scandinavia with potential for REE's, and is well placed as the European Union is actively supporting policies to promote the domestic supply of REE's to secure high-tech industry.

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
    >>

Samples submitted by Tasman Metals Ltd were analyzed by the ME-MS81 technique by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada, where duplicates, repeats, blanks and known standards were inserted according to standard industry practice. Where over-range for ME-MS81, Zr was determined using the ME-XRF10 technique. 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.

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.