Seymour Ventures Completes Flow-Through Financing

Seymour Ventures Corp. ("Seymour" or the "Company") (TSX VENTURE:SEY) has closed
the flow-through portion of the non-brokered private placement previously
announced on November 17, 2010, for gross proceeds of $420,000. Under the terms
of the private placement, the Company issued an aggregate of 600,000
subscription receipts, at a price of $0.70 per subscription receipt.


The proceeds of the financing are being held in escrow pending completion of the
acquisition (the "Acquisition") of Rare Earth Industries Ltd. (formerly REE
Mining Corp.) ("REI") by Seymour as announced on September 29, 2010. If the
acquisition is not completed by February 28, 2011, each subscriber will receive
a refund of such subscriber's aggregate subscription funds.


Upon completion of the Acquisition, each subscription receipt will automatically
convert into one unit of Seymour for no additional consideration. Each Unit will
consist of one flow-through common share and one-half of one share purchase
warrant, with each full share purchase warrant entitling the holder to acquire
one common share at a price of $0.90 per share until December 30, 2011, and at a
price of $1.30 in the next 6 months thereafter. The warrants are callable by the
Company on 30 days notice in the event that the Company's shares trade at a 50%
premium to the exercise price for a period of 10 consecutive trading days.


In connection with the flow-through financing, the Company has issued 21,064
finder warrants to finders who introduced subscribers for this financing to the
Company. Upon conversion of the subscription receipts, each finder warrant will
be exercisable into one non flow-through common share of the Company, at a price
of $0.73 per share until December 30, 2011. Upon completion of the Acquisition,
the Company will also pay finder's fees of $14,744.97 in connection with the
flow-through financing.


All securities issued in the private placement will be subject to a hold period
expiring on May 1, 2011.


The proceeds of the offering will be used to finance exploration on the Mt.
Bisson property recently optioned by the Company. 


Completion of the transaction with REI is subject to a number of conditions,
including TSX Venture Exchange acceptance and disinterested shareholder
approval. The transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the transaction will be completed as
proposed or at all. 


Investors are cautioned that, except as disclosed in the Filing Statement to be
prepared in connection with the transaction with REI, any information released
or received with respect to the Change of Business may not be accurate or
complete and should not be relied upon. Trading in securities of Seymour
Ventures Corp. should be considered highly speculative. 


The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction with REI and has neither approved nor disapproved the contents of
this press release. 


Trading in the common shares of Seymour will remain halted until certain
additional filings are made with the TSX Venture Exchange. The Company will be
making application for the waiver of sponsorship requirements of the TSX Venture
Exchange in the circumstances of the transaction with REI.


ABOUT SEYMOUR VENTURES CORP.:

SEYMOUR VENTURES CORP. (TSX VENTURE:SEY) is a digital communications and media
company delivering high quality, low-cost, talk and text around the world.
Through its two wholly owned subsidiaries, Eurotel and Tabrio, the Company
provides voice over IP connectivity to various telecommunication companies
worldwide.


ABOUT RARE EARTH INDUSTRIES LTD.:

Rare Earth Industries Ltd. (formerly REE Mining Corp.) is a private British
Columbia corporation engaged in the acquisition, development and operation of
projects in the emerging rare earth elements industry. The objective of the
Company is to establish an integrated rare earth elements business outside of
China that is both profitable and sustainable. Rare Earth Industries has
assembled management and technical teams with significant experience and
expertise in the rare earth elements industry.


Statements included in this announcement, including statements concerning our
plans, intentions and expectations, which are not historical in nature are
intended to be, and are hereby identified as, "forward-looking statements" for
purposes of the safe harbor provided by Section 21E of the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar expressions. The
company cautions readers that forward-looking statements, including without
limitation those relating to the Company's future operations and business
prospects, are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the forward-looking
statements.