technical report on the nechalacho deposit, thor lake project ...

1. SUMMARY
EXECUTIVE SUMMARY
INTRODUCTION
The purpose of this <strong>report</strong>, prepared by Avalon Rare Metals Inc. (Avalon), is to update the
Mineral Resources estimates for the Nechalacho deposit, Thor Lake Project Northwest
Territories, Canada. This <strong>report</strong> conforms to NI 43-101 Standards of Disclosure for Mineral
Projects.
Starting in 1976, the Thor Lake Property (TLP) has been explored by a number of companies
for rare earth elements (REEs), niobium and tantalum. In May 2005, Avalon purchased from
Beta Minerals Inc. a 100% interest and full title, subject to royalties, to the Thor Lake property.
Wardrop Engineering Inc. (Wardrop) completed a Preliminary Assessment of the Project in
2006. Scott Wilson Roscoe Postle Associates Ltd. (Scott Wilson RPA) completed a
Prefeasibility Study (PFS) in 2010 which covered a review of the most recent Resource
Estimate at that time, mine design, design of concentrator and hydrometallurgical plant, cost
estimation and economic analysis. Avalon is exploring and developing the property with the
objective of developing a rare earth and rare metal mine and processing facility,
The Project comprises:
• An undeveloped Rare Earths and Rare Metals deposit hosted in a peralkaline syenite
• An exploration camp, with facilities suitable for summer and winter diamond drill
programs
• 12 million tonnes of Mineral Reserves of REEs, zirconium, niobium and tantalum
• Potential development of an underground mining operation with an 18 year mine life at
730,000 tpa.
• Significant additional Mineral Resources extending laterally within and beyond the
Mineral Reserves.
CONCLUSIONS
The drilling completed since the PFS has resulted in the estimated mineral resources as
indicated in the Table 1-1.
Technical Report 43-101 – March 13, 2011 Page 1-1
Prepared by Avalon Rare Metals Inc.