SEY Seymour Ventures Corp

Seymour Ventures Corp. ("Seymour" or the "Company") (TSX VENTURE:SEY) is pleased
to announce that it has completed the acquisition (the "Acquisition") of Rare
Earth Industries Ltd. (formerly REE Mining Corp.) ("REI"). In consideration of
the Acquisition, the Company issued an aggregate of 54,097 common shares to the
shareholders of REI.


The TSX Venture Exchange (the "Exchange") has also approved the option agreement
(the "Option Agreement") between the Company, REI and Paget Minerals Corp.
("Paget"), whereby Seymour has the right to acquire a 60 per cent interest in
Paget's Mt. Bisson and Xeno rare earth element properties. The Company has made
the initial option payment of $62,500 and has issued 100,000 common shares of
Seymour to Paget. An additional $62,500 will be payable to Paget on the first,
second and third anniversaries of the option, together with an additional
100,000, 150,000 and 200,000 common shares of Seymour, respectively. 


Pursuant to the Option Agreement, Seymour is required to finance a $350,000
first-year work commitment on the Mt. Bisson property and an additional $350,000
work program in each of the second and third years of the option. These
additional work commitments can be completed on either property, as determined
by Seymour. Paget will retain a 100-per-cent interest in the properties until
all of the above payments and share issuances are completed. In the event that
Seymour exercises the option, Seymour and Paget will seek to form a joint
venture to further develop the properties, with each party contributing to their
pro rata portion of the approved exploration program. If, at any time, a party's
interest in the joint venture is reduced to below 10 per cent, it shall be
deemed to have conveyed its interest proportionately to the other party in
consideration of the right to receive a 2-per-cent net smelter return (NSR),
one-half of which can be repurchased for $1-million. The parties may jointly
purchase one-half of the Pembrook Mining NSR that exists on each of the Mt.
Bisson and Xeno properties (being 1 per cent) by contributing that portion of
$1-million that equals each party's interest in the property at the time of the
NSR purchase.


The Acquisition and the Option Agreement (the "Transactions") constitute a
Change of Business under the policies of the Exchange. Seymour is now classified
as a resource issuer.


On closing of the Transactions, the subscription receipts issued in the
non-brokered private placement originally announced on November 17, 2010 have
converted into 6,739,154 non-flow-through units (one common share and one-half
of one share purchase warrant), and 600,000 flow-through units (one flow-through
common share and one-half of one share purchase warrant) of Seymour and the
gross proceeds of $4,800,450.10 have been released from escrow. Each full
warrant entitles the holder to acquire one common share of Seymour. The warrants
are callable by the Company on 30 days notice in the event that the Company's
shares trade at a 50-per-cent premium to the exercise price for a period of 10
consecutive trading days. 


In connection with financing, the Company issued 324,633 finders' warrants. The
finders' warrants are exercisable into one common share of the Company at a
price of 73 cents per share until December 30, 2011 (20,314 warrants), January
17, 2012 (271,710 warrants) and March 18, 2012 (32,609 warrants). The Company
also paid finders' fees of $74,573.90 and issued 211,467 finders' units, each
finders' unit having the same terms as the non-flow-through units.


Full details of the units issued are as follows:



--  6,086,970 non-flow-through units and 211,467 finders' units have a hold
    period expiring May 18, 2011, with the warrants being exercisable at
    $0.85 until January 17, 2012, and at $1.25 in the next six months
    thereafter; 
--  652,184 non-flow-through units have a hold period expiring July 19,
    2011, with the warrants being exercisable at $0.85 until March 18, 2012,
    and at $1.25 in the next six months thereafter; and 
--  600,000 flow-through units have a hold period expiring May 1, 2011, with
    the warrants being exercisable into non-flow-through shares at $0.90
    until December 30, 2011, and at $1.30 in the next six months thereafter;



The proceeds of the financing will be used by the Company to finance exploration
on the Mount Bisson property, to finance further acquisitions of rare earth
element projects and for general working capital purposes.


The Board of Directors of the Company now consists of Alastair Neill, Canon
Bryan, Frederic Leigh, Robert Chisholm and Jim Walchuck. The new management team
is comprised of Robert Smith as CEO, Alastair Neill as President, Reinis N.
Sipols, P.E. as COO, and Canon Bryan as CFO, Corporate Secretary and EVP
Corporate Development. 


Rob Smith, CEO of Seymour, commented, "On behalf of Rare Earth Industries and
Seymour, our board of directors and management team would like to express our
gratitude for the unwavering support and patience of our shareholders. We are
committed to our vision of becoming one of the leading consolidators in all
aspects of the Rare Earth Metals value chain."


The Company has also granted an aggregate of 1,767,037 stock options to
directors, officers and consultants of the Company. The options have an exercise
price of $0.73 and expire in five years.


Pursuant to the terms of an escrow agreement dated March 28, 2011, among the
Company, Computershare, and certain escrowed securityholders, an aggregate of
2,379,209 common shares have been placed in escrow, whereby ten per cent will be
released on issuance of the Final Exchange Bulletin, and the balance of such
shares will be released in equal tranches of fifteen per cent every six months
thereafter. 


Trading in the common shares of Seymour will resume at the open of the market on
Tuesday, April 5, 2011. 


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.


This news release includes forward-looking statements that are subject to risks
and uncertainties. All statements within, other than statements of historical
fact, are to be considered forward looking. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices,
exploitation and exploration successes, continued availability of capital and
financing, and general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore, readers are
advised to rely on their own evaluation of such uncertainties. We do not assume
any obligation to update any forward-looking statements.

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