Tasman Commences Pre-Feasibility Study for Norra Karr Heavy Rare Earth Element Project, Sweden

Tasman Metals Ltd. ("Tasman" or the "Company") (TSX
VENTURE:TSM)(FRANKFURT:T61)(NYSE MKT:TAS). Mr. Mark Saxon, President and CEO, is
pleased to announce the commencement of a Pre-Feasibility Study ("PFS") for the
Norra Karr heavy rare earth element ("REE") project in Sweden. Following an
extensive review process, Tasman's management has selected a highly qualified
technical team with REE and European experience. Tasman is well financed, having
recently raised $5.2 million which provides the capital required for the PFS,
further metallurgical research, on-site environmental testwork and monitoring. 


The PFS will be led and coordinated by GBM Minerals Engineering Consultants
("GBM") based in Twickenham, UK. GBM is a specialist metallurgy and engineering
consulting group, who provide service from testing and design through to EPCM.
Other members of the PFS team include Wardell Armstrong International ("WAI")
for geology, mineral resources, mining and tailings management, Golders
Associates AB ("Golders") for social impact, environment, permitting and water
management, and Denco Strategic Research & Consulting Inc. for markets and
pricing. All consultants have had previous involvement with the project, most
notably GBM who have managed the metallurgical testing program and flowsheet
design for Norra Karr, and Golders who were responsible for Tasman's successful
Mine Lease ("ML") application and associated environmental and social impact
assessments.  


Tasman released its initial Preliminary Economic Assessment ("PEA") for Norra
Karr on March 21, 2012, followed by a revision released on July 11, 2013.
Subsequent to the release of the PEA, management has focused on advancing the
development of the metallurgical flowsheet, which will be further detailed in
upcoming Company news releases. Furthermore, an additional 72 drill holes will
be included in an updated CIM-compliant resource.


"The commencement of the PFS is the next important milestone in the development
of the Norra Karr project, bringing together a large amount of new technical
data," said Mark Saxon, Tasman's President and CEO. "We are very pleased to have
assembled such a competent technical team. Norra Karr is a very significant
heavy REE project with the potential to underpin Europe's REE needs for many
decades to come, and the Tasman team is excited to be taking the project to this
next stage. Following our recent financing, Tasman is well positioned to execute
on its goals. We are targeting Q4 2014 for completion of the PFS." 


Norra Karr lies 15km NNE of the township of Granna and 300km SW of the capital
Stockholm in mixed forestry and farming land. The short time taken from
discovery to ML application demonstrates the efficiency and advantage of
operating in a jurisdiction with a strong and transparent Mining Act and a long
term association with resource industries. The project is proximal to road,
rail, power and operating ports, plus skilled personnel, minimizing the need for
offsite infrastructure to be built by the Company.  


The Company also announces the signing of a surface access right purchase
agreement (the "Agreement") with an arm's length private Swedish landowner on
which the Company's Norra Karr project is located. Pursuant to the Agreement,
Tasman will issue 36,000 common shares in exchange for the exclusive surface
access rights to the property to perform all such exploratory and developmental
activities as Tasman may deem necessary. The issuance of the shares is subject
to TSX Venture Exchange and NYSE-MKT acceptance.  


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


Tasman's Qualified Person, Mr. Mark Saxon, President and Chief Executive Officer
of Tasman and a Fellow of the Australasian Institute of Mining and Metallurgy
and Member of the Australian Institute of Geoscientists, has reviewed and
verified the contents of this news release.


About Tasman Metals Ltd. 

Tasman is a Canadian mineral development company focused on critical metals
including Rare Earth Elements (REEs) and tungsten (W) in Scandinavia. Tasman is
listed on the TSX Venture Exchange under the symbol "TSM" and the NYSE-MKT under
the symbol "TAS". REE and tungsten demand is increasing, due to the metals'
unique properties that make them essential for high technology and industry.
Since over 95% of REE and 80% of tungsten supply is sourced from China, the
European Commission promotes policy to develop domestic supply of critical
metals to ensure the security of industry. Tasman receives research funding from
the European Commission. 


Tasman's exploration portfolio is uniquely placed, with the capacity to deliver
strategic metals from politically stable, mining friendly jurisdictions with
developed infrastructure and skills. The Company's Norra Karr and Olserum
projects in Sweden are two of the most significant known heavy REE resources in
the world, enriched in dysprosium, yttrium, terbium and neodymium. The Company
is now focused on the safe, sustainable and responsible development of its
Scandinavian mineral portfolio.


On behalf of the Board,              

Mark Saxon, President & CEO   

The TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange), the NYSE - MKT nor the
Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of
this news release.


Cautionary Note to U.S. Investors Concerning Mineral Resources and Reserves. In
this news release, the definition of "mineral resources" is that used by the
Canadian securities administrators and conforms to the definition utilized by
CIM in the "CIM Standards on Mineral Resources and Reserves - Definitions and
Guidelines" adopted on August 20, 2000 and amended December 11, 2005.


The standards employed in estimating the mineral resources referenced in this
news release differ significantly from the requirements of the United States
Securities and Exchange Commission (the "SEC") and the resource information
reported may not be comparable to similar information reported by United States
companies. The term "resources" does not equate to "reserves" and normally may
not be included in documents filed with the SEC. "Resources" are sometimes
referred to as "mineralization" or "mineral deposits". While the terms "mineral
resource", "measured mineral resource", "indicated mineral resource" and
"inferred mineral resource" are recognized and required by Canadian regulations,
they are not defined terms under standards in the United States and normally are
not permitted to be used in reports and registration statements filed with the
SEC. The terms "mineral reserve", "proven mineral reserve" and "probable mineral
reserve" are Canadian mining terms as defined in accordance with National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")
and the CIM - CIM Definition Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council, as may be amended from time to time by the
CIM. These definitions differ from the definitions in the United States
Securities and Exchange Commission Industry Guide 7 ("SEC Industry Guide 7")
under the Securities Act of 1933. Under Canadian rules, estimates of inferred
mineral resources may not form the basis of feasibility or prefeasibility
studies, except in rare cases. Disclosure of "contained ounces" in a resource is
permitted disclosure under Canadian regulations; however, the SEC normally only
permits issuers to report mineralization that does not constitute "reserves" by
SEC standards as in place tonnage and grade without reference to unit measures.


The estimation of measured, indicated and inferred mineral resources involves
greater uncertainty as to their existence and economic feasibility than the
estimation of proven and probable reserves. U.S. investors are cautioned (i) not
to assume that measured or indicated resources will be converted into reserves
and (ii) not to assume that estimates of inferred mineral resources exist, are
economically or legally minable, or will be upgraded into measured or indicated
mineral resources. It cannot be assumed that the Company will identify any
viable mineral resources on its properties or that any mineral reserves, if any,
can be recovered profitably, if at all. As such, information contained in this
news release and the documents incorporated by reference herein concerning
descriptions of mineralization and resources under Canadian standards may not be
comparable to similar information made public by United States companies in SEC
filings.


Cautionary Statements. Certain statements found in this release may constitute
forward-looking statements as defined in the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements reflect the speaker's current
views with respect to future events and financial performance and include any
statement that does not directly relate to a current or historical fact. Such
statements reflect the current risks, uncertainties and assumptions related to
certain factors including, without limitations, competitive factors, general
economic conditions, customer relations, uncertainties related to the
availability and costs of financing, unexpected geological conditions, success
of future development initiatives, imprecision in resource estimates, ability to
obtain necessary permits and approvals, relationships with vendors and strategic
partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
changes in world metal markets, changes in equity markets, environmental and
safety risks, 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. Forward-looking
statements cannot be guaranteed and actual results may vary materially due to
the uncertainties and risks, known and unknown, associated with such statements.
Shareholders and other readers should not place undue reliance on
"forward-looking statements", as such statements speak only as of the date of
this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tasman Metals Ltd.
Jim Powell
V.P. - Corporate Development
+ 1 [phone]
[e-mail]


Tasman Metals Ltd.
Mariana Bermudez
[phone]
[e-mail]
www.tasmanmetals.com