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Texas Rare Earth Resources Announces Changes to Management and Board of Directors

Texas Business reports:  DENVER & SIERRA BLANCA, Texas—Texas Rare Earth Resources Corp., a rare earths mineral exploration and development company, announced changes to its management team and board of directors.

Marc LeVier resigned as president, chief executive officer, and director to pursue other opportunities. Daniel Gorski, a co-founder of the company, current director and former president and chief executive officer, will serve as interim chief executive officer.

In addition,  James Graham, Graham Karklin, and Gregory Martin resigned from the board of directors. On July 5, 2012,   Gorski, Cecil Wall, and  G.W. McDonald, the beneficial owners of an aggregate of 10,198,000 shares of common stock, filed a preliminary Schedule 14A with the Securities and Exchange Commission that included the nomination of the following slate of directors:  Phillip Goodell, Nicholas Pingitore, John Tumazos, Cecil C. Wall, and James R. Wolfe. The current board of directors, Gorski and Anthony Marchese, expect to announce newly appointed directors in the immediate future.

“I look forward to the next chapter for Texas Rare Earth Resources,” said Gorski in a prepared statement. “We believe strongly in the potential of the Round Top project and will leverage the recently filed Preliminary Economic Assessment on the project to advance the project further. We are focused on maximizing shareholder value and continuing our metallurgy and project development. We are excited for what the future has in store for Texas Rare Earth Resources and our shareholders.”

Texas Rare Earth Resources Corp.'s primary focus is exploring and developing its Round Top rare earth minerals project, located in Hudspeth County, Texas, 85 miles east of El Paso.